When we introduced the topic of Viewability to the greek market, at the Online Marketing Conference in Athens, we raised a few eyebrows, plus we gave a new lease of life to that timeworn yet popular quote by John Wanamaker.
By Anna Karakatsani, Country Manager, ThinkDigital Greece, Cyprus & Albania
Since then, we have had the opportunity to present the concept of “ViewedAds” to numerous marketing experts, decision makers and trendsetters. And you know what? No one did reject the idea or expressed any skepticism about it. Because, they realized that this would enable them to increase their media efficiency across all media KPIs and… to finally determine “which half of the money they spend on Advertising is wasted”. :)
Wait a minute, does this mean that…
Yes, I am afraid so. Many marketers didn’t really know that a good proportion of the impressions they were buying were not viewable anyway. Admittedly, the sheer thought of having to tell their clients that sometimes they were buying non-viewable impressions, was enough to scare a few agency executives away. Fair enough. However, wasn’t already everyone trying to buy “better placements” or “above the fold” placements? And isn’t transparency what we need and preach for in order to move forward as an industry? Good. Let’s do it then.
Why it makes sense
According to IAB’s Making Measurement Make Sense initiative, the transitioning from a served impression to a viewable impression standard is the number one guiding principle in the Five Guiding Principles of Digital Measurement. Why? Up till now we were measuring only if an ad had been served, not how fully it rendered on the screen or how long it was present; we were aiming for browsers instead of our consumers’ eyes. Not anymore.
“ViewedAds” gives you the opportunity to plan and buy in a real, valuable new currency: CPMv, which stands for Cost Per Mille Viewed Impressions. Therefore, when you buy with CPMv, you only pay for the impressions that actually appeared on a consumer’s screen. How great is that?
The future is now
As Guy Phillipson, CEO of IAB UK, predicted in a recent conference, “buying viewable impressions is going to be standard by the end of Q1 2014." And I am sure that this will be the case in a lot more than just a handful of markets. For, think about it: who is going to pay for impressions that are not viewable, when CPMv is already in town?
P.S. “ViewedAds” is available in Greece and will roll-out in Romania and the rest of the markets in Q1 of 2014.