ISBA President and CEO of Moneysupermarket, Peter Duffy, gave a keynote speech at RENEW 2022 on Thursday 27 January. You can see the full transcript below.
Good morning everyone, I can I just begin by saying how delighted I am to be contributing to the RENEW agenda.
I guess today, I’m speaking both in my role as ISBA President but also as a marketer and as CEO of a company that believes marketing and advertising is central to its business model.
… and that’s why taking on the ISBA presidency has been such a fascinating experience and has certainly made me reconsider my own views of the state of the industry – it is a very different ISBA to the one of a few years ago – certainly, the one I experienced as a member when I was at Audi or Barclays.
The digital revolution, the concentration of sell-side power… have all led to an advertiser imperative for a unified single voice. So, in response, Phil Smith and the team have completely reinvented and reinvigorated ISBA, by really listening to members and then creating an agenda that is advertiser led. And because it’s the agenda of the advertiser community – the people representing the shareholders who fund this critical industry for the UK – it puts ISBA in a position where we can tackle some of its most difficult and challenging issues.
And the facts speak for themselves with some of the exceptional pieces of work - The multi- award-winning Programmatic Supply Chain Transparency Study with the AOP by PwC. A project which has led to the creation of the Cross-Industry Programmatic Taskforce, the first time the industry has come together to address the challenges of programmatic advertising. In 2021 The Media Services Framework was completely overhauled and updated in collaboration with agencies, auditors, and consultants. Finally, we released the Enders Broadcast Trading Study by ISBA following a mandate from its Council to play a proactive role in shaping the media landscape. The respected piece of work has been widely reported.
Now no one here needs me to tell them that the media landscape has never been more fragmented. We are living through a digital revolution that has and is changing the face of the industry. And whilst this has created many marketing opportunities not least the abundance of channels available to reach consumers, it has also created its own challenges.
And what our members tell us, the advertisers of the UK, is the biggest of these challenges is the absence of an accountable cross-media measurement system. Marketers are in many ways having to work blind because they can’t fully understand the relative value of different media in the overall mix.
And it affects our customers - excess frequency of advertising was named as one of the top influences on declining consumer trust in advertising in the AA’s trust research. We don’t want that, but to some extent, it becomes an unintentional consequence of a lack of visibility across marketing channels.
And of course it affects shareholders - a consolidated view of campaign reach, frequency and outcomes across TV, video and online display means marketers can make better media choices… we can better avoid wastage and duplication. essentially driving efficiency through a better consumer experience.
So, for ISBA members, it isn’t that we just want cross media measurement, we feel we NEED it… which is why in 2019 ISBA we made a commitment to Origin. It was a brave move, but we were not alone. Over in the US, the Association of National Advertisers had come to the same conclusion, along with the bodies representing marketers in France and Germany.
And that was helpful, because it meant this was no longer just a UK issue - it was global and being led by global CMO’s from the likes of Unilever, Proctor and Gamble and Mastercard. The World Federation of Advertisers (WFA) formed the Cross Media Working Group with the objective of hastening adoption of a consistent solution, meaning we don’t take a different market by market approach.
In the UK this was the genesis for Origin, which has been led by a steering group of advertisers, working relentlessly to make this a reality. Like the WFA’s working group, global brands are represented on the Origin Advertiser Steering Group but so are key UK based brands such as BT, Tesco and British Gas.
This tireless commitment has achieved much already, and we hit some important milestones during 2021. July and December were big for us:
- In July the completion of the Virtual ID model Proof of Concept looking specifically at its application to TV
- Plus completion of full end to end test using synthetic data
- In September we completed a rigorous RfP process for the single source panel which saw Kantar chosen to provide the service.
- In October Origin agreed measurement principles that ensure like for like reporting of impressions no matter the media, as well as independent audit requirements
- …. And then in December, we completed of the full Virtual ID model Proof of Concept for cross media
- And importantly, aligned on the principles of a funding and governance model that gives equal and fair representation from all within the industry
Now we have only been able to make this progress because of the vital support we have had from many areas of the industry. Origin has received constructive challenges, many of which have led the team to make improvements or amendments to the project scope. Origin has also received technical and specialist advice that has enabled us to reach the current position much more quickly.
And this has only been possible because the industry – platforms, agencies and advertisers – have contributed much needed funding to get this ambitious project off the ground. A massive thank you to everyone who has made this possible.
Now of course, whenever you try anything new you are going to get those who don’t agree and our quest for true cross media measurement has been no different. The reasons for this are varied. There are those who favour the status quo, its working for them so why fix it? There are those who fear what it might mean for them in terms of their own business growth tomorrow. And if I am honest, I think there are those who just want to believe that there is no better way of doing things, than what happens today.
Sadly, that has results in the peddling of some myths, so let’s take a minute to address the main ones now.
Is Origin is seeking to replace the many vital measurement solutions that already exist?
No! Origin does not seek to replace other projects/solutions instead it’s trying to complement them. It’s just that with vastly changing audience behaviours and locations, consumption of more media types than the industry could have dreamt of 20 years ago, we need to work together like never before.
That is why we are trying to bring together the whole industry - advertisers, agencies and media owners - in a way that hasn’t happened before. It’s about collaboration. And we are all putting our money where our mouth is, and collectively funding it.
Is the work agencies who have been trying to develop their own cross channel measurement tools and capabilities no longer required?
No! Agencies have had to work with mis-matched data for years and I think that they understand first-hand the need for an industry solution. Their expertise, experiences and challenges have all contributed to Origin's progression and will continue to be used by their clients when Origin launched.
Does this replace Touchpoints?
No! IPA Touchpoints is a vital study which each year adds to its database of findings, highlighting the habits and media moments of multiple target markets. It helps marketers and agencies understand the context of media consumption throughout the day or across a week and long may it continue to do so.
Do we still need other industry measurement solutions?
Yes! Brands are engaging with the like of Audience Project's real-time audience measurement service to identify, target and validate audiences. Broadcaster led initiatives such as C-Flight will play an essential role in giving marketers vital data to improve their planning across broadcast and BVOD. This is all much needed and welcome progression for our industry.
So, if that’s what it isn’t, let’s equally be clear what it is:
- Origin is an industry wide initiative that is going to deliver cross media measurement.
- It is funded from right across the industry, including for the first time, a considerable amount from ISBA members.
- The technical solution is totally open source and has been built be a group of industry experts with full oversight from the Origin Steering Group.
- Origin is a complementary tool to sit alongside other industry audience measurement tools.
- ISBA seeks to collaborate with all stakeholders to ensure this project delivers what is needed.
So Origin adds to, rather than replaces exisiting elements of the eco-system. We are rightly proud of what has been achieved to date and the pace with which we are moving. Now of course, there is still a long way to go and the plan is to fully launch product in 2024. Before that there is a considerable amount of work to do. Phase 3 is about to be officially launched and over 2022, the focus is on building out the production environment and service including the addition of single source panel data. In 2023 the focus is on trials, a pilot and then, when the solution passes all those tests, will go fully live.
ISBA, the advertisers of the UK passionately believe that the delivery of Origin will be valuable to the entire industry. Everyone wins when we work together:
- customers don’t get bombarded.
- regulators can have confidence in targeting.
- and shareholders win from more effective spend.
We believe this will lead to more confidence and more investment in the industry. Good news for everyone and the thing we are all working towards.