Top ad sales executives and researchers representing most major TV networks met on Friday to discuss developing a standardized method of proving that their ads work.
According to AdAge, the TV industry essentially wants more concrete proof that a given commercial led to the test-drive of a car, for example, or the purchase of a product.
The effort is the latest attempt by the TV industry to band together to take on the likes of Facebook and Google, which have been siphoning off TV dollars as marketers look for better data on whether their ads are reaching the right consumers and are driving business results.
The preliminary discussion, hosted by the Video Advertising Bureau, an industry trade group, drew modest excitement from attendees, according to several executives. Participants included representatives of ABC, A&E Networks, AMC, CBS, The CW, ESPN, Fox, Discovery, Hallmark Channel, NBC Universal, Turner and Viacom.
It was the first time most of them bought into the initiative, dubbed "Thor" after the Norse god of thunder and Marvel comic/Disney character. The goal is to allow TV networks to show clients not only that their ads reached a certain audience but that they produced specific business results.
During the meeting, the group heard from Data Plus Math, an analytics company that aims to "link advertising exposure to real world customers," according to its website. The company, run by John Hoctor, is working on a system to map the contributions and effects of various media on consumer sales and other outcomes.
The meeting was essentially intended to get everyone in a room together and on the same page, executives say. Though most of the discussion was surface-level, they say they still need to digest what they heard. It is unclear which TV companies, if any, will sign on to the effort.
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