|By PR Newswire||
|October 31, 2012 10:08 AM EDT||
TIANJIN, China, Oct. 31, 2012 /PRNewswire/ -- L'Oreal was crowned the 2012 Effie Awards for Special Contribution For Industry on the 19th China International Advertising Festival, for its innovative cross media investment practice in China.
The Effie China Committee highly approved that, "as a leading international brand, L'Oreal has been committed to advancing the development of the Chinese advertising industry. The company worked hard to understand how to increase return on media investment and resolve difficulties with data analysis and optimization in the advertising industry. L'Oreal enthusiastically devoted itself to the promotion of advertising evaluation standards for cross media GRP systems; cooperating with Miaozhen Systems, a third-party advertising technology company, and Millward Brown, a global market research agency, L'Oreal made use of a serial of advertising optimization tools, such as MixReach®, VOptimizer™ and Millward Brown's CrossMedia Research™ which helped provide solid marketing effectiveness metrics and guidelines to promote China's advertising market growth and development."
Since 2010, L'Oreal's ad spending has been moving from traditional TV towards online video and other new video media and, over the past two years, international brands including L'Oreal have been consistently attempting to solve the problem of how to raise the return on investment for cross-channel media activities and, through data mining and technical solutions, try to make a breakthrough. L'Oreal's multi-screen GRP practice in China is a good example of successful measurement in this field.
The iGRP system provides an Internet advertising evaluation system which can be compared with the existing TV GRP system. At the core metric of performance, both show the advertising reach coverage of the target audience and can, together, become the universal metric and measurement standard on the effectiveness for all types of video media advertising. From 2010 L'Oreal started working together with Miaozhen Systems and Millward Brown to implement iGRP measurement and the evaluation of digital media. The MixReach® system was first used in conjuction with Millward Brown's CrossMedia Research™ solution to validate TV + online video reach and duplication, to help emphasize the strength of Mioazhen's planning tool. In one case, there was need for expertise in proving that TV + Online TV has significant advantages over TV only campaigns. Miaozhen Systems and Millward Brown shared research to show distinct advantages of TV+Online vs. TV. Three test markets and three control markets for a 'feasibility test campaign' were chosen, with TV CPMs and reach as the base. Miaozhen Systems mixed-reach curves for TV+Online TV, was used to project a likely reach goal. Millward Brown then conducted a CrossMedia Research™ (reach and duplication portion) study to validate the reach for the L'Oreal test markets.
For advertisers, gathering data through monitoring was only the first step: they also have to build up reach curves of online video, mobile, digital TV, IPTV and other new media, with which they can integrate with TV GRP. Media optimization among multi- screens is the ultimate goal.
Starting in 2011, L'Oreal integrated the advertising reach curve of online video and TV based on the same target audience in the same market, to calculate the total reach of online video and TV in different GRP/iGRP objectives, which gave L'Oreal the best mixed media investment.
L'Oreal is the pioneer by taking the first step with cross media investment optimization. According to the data accumulation over the course of three years of online campaigns, L'Oreal realized its media effectiveness estimation. The reach rate remarkable increased, leading to saved spending obviously. Currently over 80% online video advertisers have been making use of Miaozhen's products and solutions to optimize their media investment and reduce cost.
The real value of "big data" is to find hidden patterns and trends through data mining, to reduce risk, reduce costs, and find much more opportunities. Advertisers like L'Oreal are currently digging the true value of big data application in the field of advertising media investment.
The Effie Awards were founded by the American Marketing Association (AMA) in 1968, and introduced into China in 2003. The China Effie Awards are carried out according to the same principles as all other Effie's worldwide and is the only award given in China where measurable results of advertising are the chosen criteria. The Effie Award for Special Contribution is under the authorization of the international Effie Committee and is given to companies, organizations, or people who make an outstanding contribution to advertising issued by China Advertising Association and China Effie Committee.
SOURCE Miaozhen Systems