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The Advertising Research Foundation Catalyzes Transformational Growth at 2013 Industry Leader Forum

November 3, 2013

Just Fix It: ILF Inspired Leaders to Prioritize Actionable Solutions for the Mix Modeling Debate

NEW YORK, November 3, 2013 – On October 29, the Advertising Research Foundation (ARF) brought together a group of more than 200 elites at its 2013 Industry Leader Forum (ILF). Speakers, panelists, and attendees came to the conclusion that the industry knows the problems with predictive mix modeling, and now needs to take action to “just fix it.”

“This year’s ILF saw many spirited debates about the progress, challenges, and potential solutions for mix modeling,” said Gayle Fuguitt, president and CEO of the Advertising Research Foundation. As an industry we need to understand our consumers on an individual level and deliver insights to decision-makers in a timely and impactful way. Not everyone agrees about methodological approaches, but we do agree that leaders need to lead, identify new solutions, and drive to better, faster decisions.

Highlights from panels and speakers at the 2013 ILF include:

  • An advanced look at a white paper survey by the ANA (Association of National Advertisers) and Nielsen articulated the gap between the need for multi-screen measurement and today’s practices.
  • A panel comprised of the world’s leading and largest buyers from Procter & Gamble, Lego, ESPN, Hill Holliday, and General Mills shared their secrets for mix modeling success, such as “experiment—be continually changing,” “the advertising experience is still needed,” “getting it [mix modeling] right doesn’t matter if no one leads with it.”
  • Hod Lipson, associate professor of Mechanical & Aerospace Engineering and Computing & Information Science at Cornell University, presented insights on the evolution of modeling in robotics, noting that predictions shouldn’t come in a black box—people want to understand why.
  • A panel including industry futurists from Nielsen, Twitter, MarketShare Partners, ThinkVine, Facebook, Analytic Partners, and Effective Marketing Management shared advice for modeling success, noting that “we need to be able to interpret and tell stories,” “optimization involves knowing how to shift the response curves to understand creative effects,” and “let’s not try to tear down competing models; let’s talk about tying together the best solutions to solve problems.”
  • Robert Moran, a partner at Brunswick Group, shared disruptive trends that businesses take into consideration for modeling, such as the silver tsunami of aging, the trend of “enoughness,” collaborative consumption, and storied versus unstoried products.
  • Joel Dudley, director of Biomedical Informatics at the Mount Sinai School of Medicine, shared key learnings from his research on personal genomics, observing that even though the solutions may exist, people tend to protect old methods.

Additionally, the Advertising Research Foundation was honored to announce the Erwin Ephron Demystification Award at ILF 2013. This award is being created in memory of Erwin Ephron, one of the most influential media planning consultants whose leadership helped define and shape today’s media planning industry. 

“We wanted to pay tribute to Erwin Ephron in a way that will keep the memory of his contributions alive for future generations,” said Fuguitt. “The Erwin Ephron Demystification Award was created in partnership with Mr. Ephron’s family to honor his legacy by recognizing the people who are propelling the advertising industry forward to new heights—just as he did.”

Additional details about the Erwin Ephron Demystification Award will be announced at the ARF annual ReThink Conference, March 24–26 2014.

Contact:
Emily Hendricks
Zeno Group
646-263-4921 (mobile)
emily.hendricks@zenogroup.com

 

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