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1、The Attention Economy Exploring the opportunity for a new advertising currency June 2019 2. The Speed Read 1. Attention is a scarce resource. Dentsu Aegis Networks proprietary research reveals that only one third of ads get audiences full attention. When people can skip ads, they often do. And when
2、they cannot skip, they often look away. The explosion in digital content, new forms of advertising and technology at our fingertips has created both the motive and the means for people to screen advertising out of their lives. 2. Advertising has been slow to react to this challenge. Media currencies
3、 - impressions, reach and opportunities to see - are increasingly problematic, when the relative value of those metrics across channels and platforms is what really matters. 3. Together with leading advertisers and media owners, Dentsu Aegis Network is driving a new initiative designed to find a sol
4、ution - The Attention Economy. Our aim is to define a new value system and ultimately, to challenge the way the industry trades. 4. Using the latest eye-tracking technology and research panels in the UK, US and Australia, we have analysed 17,000 individual video ad exposures across three platforms:
5、linear TV, in-feed video on social media and pre- roll on video platforms. 5. The findings are the very first step in updating how our industry measures, plans and trades media in the digital economy. Two key insights stand out: An ad that is not seen is worthless, but the way we see advertising and
6、 how that impacts effectiveness is nuanced. Also, partially seen ads are able to boost sales. Hence reducing ad-avoidance may be more important to advertisers than maximising full-on attention. Effectiveness is closely related to how much of an ad is viewable and for how long, but other factors may
7、be equally important. Clear branding moments, such as showing a brands logo, increase audiences attention. Already, we believe our increased understanding of attention can better fuel client strategies. Looking forward, we are confident that a universal, cross-platform standard is possible, based on
8、 a genuine opportunity to communicate. 3. 1. Advertising surplus = attention deficit The alarm sounds. You reach for your phone. Too early for emails and social media but you cant resist a scroll. The radio whirs in the background. The TVs on at the breakfast table. Kids are distracted. Alexa chimes
9、 in with the weather but cant make them eat their breakfast. A newspaper on the kitchen table advertises a holiday. You already need one. School run. Billboards. More radio. On the train to work, you catch a YouTube video a friend has shared. Skip the ads. You look up, another holiday. Check the pho
10、ne again. Into the metro station, posters scrolling. Exit the underground. Ads on the escalator, on the turnstiles, on buses, on taxis. You cant remember what the video was about. 9 am, work begins. Sound familiar? Were living in an era of advertising and media distraction. Media used to be a rare c
11、ommodity, but where our viewing and listening choices were once limited, now they are almost infinite, and this has created a new advertising scarcity - audience attention. Digitisation has put the media and advertising experience more and more in the hands of the user. At the same time, favourabili
12、ty towards advertising has plummeted a recent study by UK think tank Credos suggests it has halved since the 1990s. Technology is enabling people to opt-out through ad-blockers and skipping, and opt-in to ad-free premium services. In short, we have created both the motive and the means for people to
13、 screen advertising out of their lives. Data may well be the new oil, but in the digital economy, attention is the scarcer resource. Of course, attention has always been integral to medias value. But in a low-growth context, with media budgets under intense scrutiny, this can become confused with a
14、focus on price. Dentsu Aegis Networks 2018 CMO Survey reveals cost reduction, efficiency and reach are prioritised over strategic planning, when evaluating ROI on media investment. Whats more, the currency of media impressions, reach and an opportunity to see are becoming less comparable across plat
15、forms, especially in video. Todays challenge is understanding the relative value of those metrics across channels and platforms. Does reaching a reported impression on TV deliver the same level of attention as an online impression? 4. The answer, of course, is that it depends. And therein lies both
16、the problem and the opportunity. Current industry planning systems consider all impressions equal. The same reach on television versus in-feed social can come at vastly different costs but is valued subjectively, often based on the perceptions and experience of individual planners. Even within the s
17、ame channel, impressions are often priced equally, regardless of how long they may or may not have been viewed. In this environment, we should not be surprised that clients and planners are driven by investing less money for more reach. But this isnt sustainable for advertisers, agencies or media ow
18、ners. Efficiency is important but must not be prioritised over effectiveness. Our planning and buying measures need to change, to reflect what we consider to be of most value to clients a genuine opportunity to communicate with a consumer. “Data may well be the new oil, but in the digital economy, a
19、ttention is the scarcer resource.” 5. 2. Attention in action - a new approach The case is clear. We need a new way for brands to understand the value of their media investment that is more consistent, in the context of a fragmented and confusing digital landscape. This is a natural and necessary nex
20、t step for our industry and it is why, together with leading advertisers and media owners, Dentsu Aegis Network is not only leading the debate, but investing in finding a solution. Our aim is to define a new value system and ultimately challenge the way the industry trades, by valuing what is likely
21、 to be delivered, over what is bought. Were calling it The Attention Economy. Our start point is an industry-leading research programme, built and run by our Global Media Partnerships teams, supported by some of the worlds biggest media owners and delivered by academic experts in this field - the Ce
22、ntre for Amplified Intelligence, led by Karen Nelson-Field, Professor of Media Innovation at the University of Adelaide. Using the latest eye-tracking technology, we are undertaking a three- stage research approach - the biggest of its kind in the history of advertising - in order to: We will define
23、 what we mean by attention, what factors affect it and how this drives engagement, brand uplift and sales We will provide a measure with which to begin planning, and ultimately buying on attention We will bring objectivity to the way we value attention across platforms, channels and formats We will
24、ingest this data into our planning systems We will work with our partners, clients and competitors to drive the debate on the trading of attention DefineMeasureValuePlanBuy 6. Conducted in early 2019, our first-stage research was designed to better define and understand both the concept of attention
25、 and the factors that drive it. We briefed a team of researchers to explore an approach that can deliver meaningful comparisons across platforms and formats, so that budgets can be allocated in a way that relates more closely to effectiveness. Establishing research panels in the UK, US and Australia
26、, a group of 3,400 panel members viewed a total of 17,000 video ads on three platforms: linear TV, in-feed video ads on social media and pre-roll ads on a video platform. In-feed and pre-roll ads were shown on mobile devices, and television ads on both traditional TV sets and mobile phones. Panel me
27、mbers downloaded an app that automatically turned their devices cameras on when ads were shown. This app then collected three types of data: 1. Screen data measured viewability, reporting the percentage of pixels on-screen, time on-screen and the portion of display the ad covered. 2. Eye-gaze data m
28、easured attention. Eye-tracking technology reported whether eyes were on-ad, on-screen but not on the ad, or off-screen completely. 3. STAS (Short Time Advertising Strength) data measured sales uplift, using a virtual store to offer choices between brands in different categories; a simulation that a
29、llowed researchers to track the impact of the ads. Using this data, we have been able to start to understand the nature of attention, and specifically to test two central hypotheses The Methodology 7. 3. The Attention Metric redefining engagement Full gaze is not the only gaze that matters It is not
30、 only full gaze that has value: ads in peripheral vision also boost sales. In fact, ads that received full gaze only increased sales slightly more than ads viewed peripherally. Rather than aiming for full attention at any cost, the bigger win for marketers is to avoid full avoidance, where the audie
31、nce looks - or walks - away. Hypothesis 1: An ad must be seen to be effective. Our finding: An ad that is not seen is worthless, but the way we see advertising and how that impacts effectiveness is nuanced. Distribution of frames and STAS 130 125 120 115 110 105 100 Control 100 110 122 127 No/Low Ga
32、zePeripheral GazeFull Gaze STAS index Figure 1. Peripheral gaze was defined in the research as eyes on screen but not on ad on mobile devices, and person in the room but not looking directly at the set in TV ads 8. Ads dont get much direct attention the norm is a mix The research underlines what, in
33、tuitively, we all know - advertising often does not command our full attention. On average, ads were looked at directly for only a third of the time they appeared. Peripheral viewing constituted the majority of attention. And even though respondents had been asked to view a media session, a signific
34、ant proportion avoided the ads completely. All platforms delivered a mix of attention, but the device being used is significant full avoidance, for example, is greatest in linear TV, yet lowest in TV on mobile*. Context is king Both the device and platform where ads appear matters. Attention is broa
35、dly comparable between in-feed social and pre-roll delivered on a mobile. However, when watched on a mobile device, TV ads drove significantly more attention than both. Figure 2. Attention is reported in three-steps: Full Gaze - eyes on-ad, Peripheral Gaze - eyes nearby an ad, and Avoidance - eyes o
36、ff-ad. 0%10%20%30%40%50%60%70%80%90%100% Linear TV on TV In-Feed Social on Mobile Pre-Roll on Mobile AvoidancePeripheral GazeFull Gaze All platforms delivered a mix of attention 9. Mean attention per second Figure 3. Mean attention is measured by coding an ad five times per second. Full gaze is code
37、d as 100, peripheral gaze as 50, and avoidance as 0. *Previous CAI research for TV viewing on a Mobile device, using different ads to the Dentsu Aegis Network study. This should be treated as additional “qualitative” insight. Viewability and avoidance Our research suggests that to deliver more atten
38、tion, platforms need first and foremost to reduce avoidance, yet TV panels such as Nielsen in the US dont measure or report this data. Whether as a result of ad-fraud or viewability standards, advertisers have questioned why they should pay for non-existent audiences online a question that would equ
39、ally apply to non-existent TV audiences. 63-69 In-feed social on mobile 60-66 Pre-roll on mobile 53-60 TV on TV 80 TV on mobile* 10. More is more The Media Rating Council (MRC) deems a video ad as viewable only if at least 50% of pixels are in view for at least two seconds. Since 2018 the council ha
40、s been advocating an increased threshold to 100% of pixels. Based on our findings to date, this is the right direction: both attention and sales uplift (STAS) increased when more pixels of an ad were in view. Whats more, the difference between 50% and 100% of visible pixels was significant. Viewabil
41、ity impacts both attention and sales uplift Hypothesis 2: The more of an ad that is seen, or the longer its viewed, the greater effect. Our finding: More is more. Effectiveness is closely related to how much of an ad is viewable and for how long, but creative and brand factors are also at play. 125
42、120 115 110 105 100 0708090100 Mean attention index % pixels in view 125 120 115 110 105 100 0708090100 STAS index % pixels in view R2=0.9416 Figures 5. When 50% of an ads pixels are in view, a user can see half of the ad on their screen. On TV, all ads are 100% viewable. 11. T
43、ime is money Every second counts, the longer people looked at an ad, the bigger the effect on sales uplift (STAS). MRCs minimum 2-second viewing time is a good start. However, as the graph below shows, a longer time in view gives advertisers the opportunity to communicate more and drive a greater ou
44、tcome. Figure 6. Durations of tested video ads varied between 6, 15 and 30 seconds. Panel members could scroll over in-feed ads on social media and skip part of pre-roll ads on video platform. Linear TV ads were shown in full length. Make the logo bigger? Whilst not designed to test creative impact,
45、 there are strong signals in this research that some executions generate more attention than others - even when differing platforms and devices are accounted for. Even within a single execution, there are attention-grabbing moments. Whats more, conspicuous branding, rather than having a detrimental
46、impact on attention (as many might assume), is often aligned with peaks in attention. Seconds in view 125 130 135 140 120 115 110 105 100 STAS index 30 R2=0.9192 “Every second counts, the longer people looked at an ad, the bigger the effect on sales uplift.” 12. 4. Towards a new attention
47、 currency The purpose of advertising is to build bridges, to simplify and to enable brands to communicate with consumers. Yet the business of advertising itself is anything but simple. We have created an incredibly complex ecosystem, where terms like CPM, OTS, vCPM, ROTS, VR, Vi and CTR are incompre
48、hensible outside the industry, and within it they are incomparable. The findings in this paper are the very first step in updating how our industry thinks about, measures, plans and trades media in the digital economy. Its essential to how we build brands. We believe theres a better way and we belie
49、ve attention is the best place to start. Of course, weve been here before, and we know that change can be challenging. When Out-of-Home tackled its own attention dilemma the fact that passing traffic sees just one, not both, sides of a billboard sellable inventory was cut in half. But crucially, in turn, advertisers trust in Out-of-Home and its promise of delivered audiences grew stronger. Using eye-tracking technology, we have unlocked new insights into audience presence and our understanding of who is really seeing ads in the digital realm. These