Nielsen reveals there is underspending in 50% of media plans
Nielsen released its first ever ROI report on July 6th which identified gaps in marketers’ budgets, channels and media strategies that are compromising returns on investment (ROI) on media plans. According to the report, about half of marketers are not spending enough in a channel to get maximum ROI. This is the first ROI Report produced by Nielsen. The ROI Report findings were generated by Nielsen’s experience in a wide range of measurement methods including Marketing Mix Models, Brand Impact studies, client-sourced marketing plans and expenditure data, attribution studies, and Ad Ratings.
Why is this important?
While a poor ROI might cause brands to pull back on spending, Nielsen found that spend often needs to be higher to break through and drive returns. Nielsen’s “50-50-50 Gap” states that while 50% of media plans are underinvested by a median of 50%, ROI can be improved by 50% with the ideal budget.
Meta is developing a new AI System that can create visual interpretations of text and sketch prompts
Meta is developing an AI (the Make-A-Scene system) capable of interpreting text prompts and drawings to create new visual interpretations. This system allows for more control of the final image created, unlike the current Dall-E AI, which only allows images created based solely on the AI’s understanding of the data, with no visual input involved.
Why is this important?
This development is significant because it allows for a different type of creativity, almost a collaboration between the human mind and AI. Such experiments highlight exactly how far computer systems have come in interpreting different inputs, and how much AI networks can now understand about what we communicate, and what we mean, in a visual sense. This AI will allow for an entirely new style of art to emerge.
Google launches Ad Creative Studio to customise video and display ads
Google has announced new ways to create ads. The Ads Creative Studio was officially launched after a beta last year and is now available globally. Using this, advertisers or creators can create multiple versions of a single display or video ad. The ads can be customised for different audiences, locations, languages or contexts. To make the changes, creators select the changes they want to make and provide the different versions of that particular element based on the rules you set. The feature is now available for video and will soon be launched for display as well.
Why is this important?
ACS will be an interesting feature for advertisers to test. If you’re running campaigns aimed at multiple audiences, the ACS seems like a helpful tool to quickly manage and make dynamic changes to video ads when you’re trying to reach multiple demographics, without creating additional campaigns or ad types.
Campaign of the week: Corona boosts football stadium beer sales with NFC chip jerseys
Mexico City’s Azteca Stadium (Estadio Azteca) is one of the jewels in the crown of the football-mad nation. Although, Corona found that the stadium has a major pickpocketing problem. As a result, football fans tend to leave phones and wallets at home when they go to a match, leaving them with no cashless way to pay for a mid-match pint.
For Corona, this translates into a dramatic loss in sales at a huge consumption occasion. To solve this problem, Corona provided people with the opportunity to have waterproof NFC chips attached to the inside of football shirts. The chips were positioned behind team badges and acted as a digital wallet on match day – with vendors tapping their PoS terminal to the shirt to take payment for Corona beer.
