By: Erin Albertson for Music Dealers
With the recession and decrease of cash flow in the current economy, it is important for both marketing and ad agencies to spend their budgets wisely by targeting the most specific audiences for their products. With the use of market research tools, companies are able to see which consumers are seeking knowledge for a specific product, and which demographics purchase those items. Although businesses rely heavily upon market research teams to dive deep into the analysis of a product, the new system from Nielsen may be just what these companies are looking for. On September 27th, Nielsen introduced their newest development in researching software, the Nielsen Online Campaign Ratings. With the new data-compiling system (launching sometime in 2011), companies will be able to generate data from third-party contributors to measure the viewer demographics of online advertising. The data is combined through the use of tags, which will alert Nielsen every time an advertisement is displayed within a browser.
Perhaps this is what marketing and advertising agencies have been waiting for! With the help of targeting demographics and acquiring detailed information for every click of the mouse, marketers have the ability to measure the exact range of their audience. Going back to the economy and budget cuts within companies, it is important for consumers to be specifically targeted so that companies are not wasting marketing dollars on an audience that lacks relevance toward a product. For the first time, Nielsen will display TV-type ratings and video spots on websites, which will provide the highest quality data to television networks and online advertising outlets. With this, networks will truly be able to see the exact age range, gender, and other core details in tracking demographics.
Suzy Deering (Executive Director of Media and Sponsorships at Verizon Wireless) states that, “the new system is a ‘big step in the right direction,’ and expressed the fact that many viewers are adopting similar habits, and that Nielsen’s new system will help marketers better understand that evolving behavior.”
Personally, I believe that the Nielsen Online Campaign Ratings System will truly benefit and help evolve techniques in market research and obtaining data in demographics. One of the most important methods to maintain success in marketing is to capture an audience through a variety of ad techniques. With the use of Nielsen’s new researching software, measuring the demographics will prove to be more precise than ever before. It will be interesting to see the developments in marketing and advertising once this system takes off!.
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