Practical Implications of the Cognition Quest So Far

I sat at a table filled with the top creative people at a French restaurant in Manhattan Rosser Reeves had called the party together and even Bill Bernbach was there All we talked about was the cognition quest How did advertising work The discussion wasnamp8217t always peaches and cream because in the arrogance of my youth I kept bringing up the media effectThat was many years ago The Advertising Research Foundation deserves most of the credit for keeping the flame alive Now they even have a Cognition Council on which Iamp8217m honored to serveIt was the ARF Model that kept the quest alive ARF also contributed by bringing neuro into the foreground and today by validating attention so as to bring out its bestBetween the innovative flowering of media and advertising research and the ARF MRC and other leading industry organizations here is what we have learned so far that is actionableYou do want to use both attention and resonance in order to cover branding and sales effects ARF has put out an Atlas of the 30 or so attention suppliers and resonance as a concept is currently being practiced by RMT Wurl Magid Emotional DNA and Marketcast any others please let me know In the next post Iamp8217ll try to put together a chart of how they complement one anotherThe reason you want to do this is because without it you will be simply buying the cheapest impressions and not taking advantage of context and adperson resonance effects so you will underperform on branding and sales amp8211 on every funnel metric amp8211 compared to what your creative and media budget could have doneAttention boosts discoverability while Resonance fosters deeper connections that lead to better outcomesamp160Inmarket testing will be the only way to know for certain but it is likely that you are overinvesting in digital This is not to damn that media type which is essential and has added considerable value to the practice of sciencebased advertising while also having a looming dark side It is to call out the existence of two things which are not being paid adequate attentionSaturation effect If you buy too much of a media type its marginal ROAS will sink to zero This is exactly what has happened the buy side has sailed past saturation topout levels without noticing them They were noticed by the Bill Harvey Consulting 20142023 MMM Study of ROAS the largest in history sponsored by FOXTelevision including CTV has more impact throughout the funnel than digital on average and in that sense their average CPMs are fair However by ignoring media impact differences the buy side has been going for the cheapest impressions by overallocating to digital putting as little money as possible into the higher CPMs Which is ignoring the fact that those higher CPMs are justified BHC MMM showed that fewer than one in five brands studied gained market share since 2014 as money was held back from TV These were all major brands in CPG Auto QSR CE computers and videogame consoles For big mature national brands the only way to sustain brand growth is by focusing on impact not priceThe attention studies have definitely proved this point more than adequately The Meta RealEyes Eye Square BHC study showed that streaming has much higher attention effect than scrolling or short form Every attention researcher Amplified Intelligence Adelaide RealEyes Eye Square ChilmarkDigital Viomba Lumen and all the others have found the same thing it is the way it is and marketers must take impact indices into account in media decisions or their brands will stay stalled as the new brands take over That would not be good for America or for the world but especially not for the companies themselves and their employees and suppliers and stockholdersIt is not just the BHC MMM study and the attention studies TRA and NCS both published compelling findings of greater ROI for TV over digital except for premium digital video Thatamp8217s sales not just attentionThe most recent work has been done by Wharton Neuroscience and BHC sponsored by FOX It focuses on the most salespredictive measures at the industryamp8217s disposal three specific patterns of brainwaves that have prediction scores Adjusted R Squared of 8 to 9 memory approach synchrony These waves tend to be higher and last much longer for TV than for digital as shown in this slideThe evidence is unmistakable plus common sense would tell you the same thing We are talking about investments of billions of dollars It is time to get serious about marketingPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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Practical Implications of the Cognition Quest So Far

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Bill Harvey

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Practical Implications of the Cognition Quest So Far

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