Marketers MeasureUp at IAB NZ’s inaugural data conference

Data took centre stage last week as IAB New Zealand launched its inaugural MeasureUp conference to highlight the role of measurement in marketing.

MeasureUp is a regular feature on IAB Australia’s calendar, but it was the first time the event had been held here in Aotearoa.

The local appetite is clear, with the industry packing The Maritime Room in central Auckland.

Travena Addenbrooke, IAB New Zealand Data, Privacy & Measurement Council Vice-Chair and AI Marketing Lead Spark New Zealand says, the fact that MeasureUp sold out in its first year demonstrates how the industry is ready to transform.

“Collaboration among clients, agencies, publishers and tech partners is vital to establish new measurement standards in New Zealand.”

IAB New Zealand Data, Privacy and Measurement Council Chair and Team Circle Director Q Naim adds that measurement poses challenges as well as significant opportunities for the marketing industry.

“By mastering measurement, we will continue to redefine the role of marketing to drive success as we continue to converge around consumers”.

A panel of local experts kicked off the afternoon, tackling the question: “what is noise and what is signals” when it comes to data in marketing.

Nicola Yates, Woolworths Senior Marketing Manager, Simon Bird, PHD Chief Product and Strategy Officer, Tim Pointer, Reason/Rescue Metrics Co-Founder and Mike Delaney, Hearts and Science General Manager – Digital were moderated by Naim.

All data is signals, said Yates, but the challenge lies in figuring out what it means and what it is you’re looking for.

Ian Garland of Milton Data spoke next on synthetic data basics – an increasingly prominent method of creating datasets.

Synthetic data preserves privacy, so inputs can’t be traced back to the human they were collected from. If you think it sounds like something out of The Matrix, you’re not alone – the film was referenced throughout this discussion.

While Garland says there’s not enough evidence yet this model is trustworthy, but progress is being made apace.

The conference was sponsored by Meta, whose Head of Marketing Science ANZ, Carl McLean led the next panel session, on changes in how data fuels advertising.

“There is no one size fits all when it comes to measurement. Use the strengths of certain measurement tools to address the gaps in others,” were McLean’s words of wisdom.

He spoke at length about media mix modelling (MMM) – the statistical analysis methodology that allows businesses to measure effectiveness, optimise spending and predict future results.

It is becoming increasingly more accessible now with open sources tools available on the internet. Christophe Spencer from GroupM who spoke on the panel discussed how MMM looks like Geolift and Robyn have helped his team – who due to being in Aotearoa are leaner and less resourced than international counterparts – accelerate their own journeys and provide a more omnichannel view.

IAB’s five measurement themes

IAB NZ summed up the day’s key points with this handy list of five Marketing Measurement Themes.

The resurgence of MMM and econometrics: With the foundations of direct digital measurement disrupted by changes in the ecosystem, the importance of MMM and econometrics has resurfaced as a key approach to understanding marketing effectiveness, evidenced by the release of new open-source models by major digital platforms. 

The importance of actionable insight: With the vast amount of data and sources available to marketers, it is important to ensure measurement strategies are aligned with business objectives and tied to decision making, otherwise they merely contribute to more noise.

Stakeholder collaboration: The importance of collaboration and shared understanding across businesses, clients, agencies, publishers and other stakeholders, as well as leveraging consistent metrics, was emphasised to establish clarity and alignment in driving successful outcomes.

Focus on privacy: Increasing attention to privacy concerns is shaping how the industry can measure, such as the rise of clean rooms and econometrics for privacy-compliant measurement. This reflects the growing importance of first-party, consented data and need to balance how we capture and leverage data with privacy regulations.

Impact of AI and automation in measurement practices: Advanced automation through AI brings with it affordability and speed, though it also carries risk requiring high-quality inputs and experience to apply the findings and avoid misuse or inaccurate outputs. The importance of experienced human inputs and supervision was a recurring theme.

Angelina Farry, IAB New Zealand CEO, has been delighted with the feedback.

“MeasureUp is the ideal platform for open dialogue and collaborative learning, and we look forward to making it an annual industry calendar event.”

Extra IAB New Zealand MeasureUp resources will be available on the IAB website.

The post Marketers MeasureUp at IAB NZ’s inaugural data conference appeared first on stoppress.co.nz.

stoppress.co.nz