People spend 10x the amount of time watching videos and listening to music than they do watching TV and listening to the radio. While TV ad spending is going down, as audience leaves for the internet, online video ad spending has grown far slower. Do you know why? Well we know the answer and we have been beating the drum for quite some time. It is the lack of metrics! I found this great article that has done done some serious research by polling the biggest names in the ad business to find out why they are keeping the wallets close but this passage stood out:

“McKinsey polled 410 marketing executives in five sectors, and among those already advertising online, 52 percent said “insufficient metrics to measure impactâ€? was the biggest barrier, followed by insufficient in-house capabilities (41 percent), the difficulty of convincing management (33 percent), limited reach of digital tools (24 percent) and insufficient capabilities at agency (18 percent).”

Amazing. These are the things holding back the ad industry and we couldn’t agree more. You can read the complete article here