Here is a useful illustration of the difference between measurement and effectiveness. What if you had a tennis racquet that could measure the power of your swing, the speed of your reactions, and the placement of your shots? We worked with Babolat to create a racquet that analyzed your swing data, and then helped you improve your swing. There is no doubt that the digital age and big data have driven a worrying reliance on short-term measures. As Binet and Field have pointed out, the language is “all 1 about ‘timely offers’ delivered with zero wastage only to imminent purchases.” As they ask: “why bother with that slow-burn activity when sales can be switched on instantly with the latest Big Data tools?” All the IPA’s data suggests that this would be injurious to profitable brand building. 4. Re-discover econometric modelling Econometric modelling was invented in the first quarter of the twentieth century by the Nobel Prize-winning economist Ragnar Frisch. As Dimitri writes in his excellent book Sexy Little Numbers (2012): “Econometrics is all about developing and applying quantitative or statistical methods to prove economic principles.” Those techniques can be used in marketing and sales, helping forecast consumption and
Ogilvy on Advertising in the Digital Age Page 224 Page 226