There is an article by Stephen Pretorius published in Adotas that correctly identifies the Media Measurement Framework for evaluating online advertisement. He correctly identifies five areas of concern:
- Track everything – The higher the number of variables that greater the probability that you can build a robust decision support system.
- Integrate the data – You need a data warehouse for your variables, metrics, and decision support system that is separate from your operational data warehouse.
- Compare apples with apples – Meaning comparison requires comparing the same type of metrics.
- De-duplicate conversions – “You need a conditional filtering system (like DoubleClick’s Floodlight tag tool) to ensure that you only ping performance media tracking tags when they were the ones sending you the customer.”
- Make your metrics relevant to your business – Invest in creating meaningful metrics for your business.
Additionally, Pretorius discusses the engagement measurement within the context of some potential improvements to Microsoft’s Engagement Mapping (EMAP) methodology: assumptions by advertisers without factual prove, and more data is better at prediction than better data mining algorithms. See, http://atomai.blogspot.com/2008/04/more-data-usually-beats-better.html
Stephen Pretorius article is called Why CFOs Don’t Believe in Online Advertising and it can be found at: http://www.adotas.com/2008/07/why-cfos-donât-believe-in-online-advertising/