ISBA has signed a long-term strategic partnership with auditing firm Ebiquity as it looks to improve industry standards around marketing effectiveness and attribution.
The two bodies will work on a number of projects, the first of which will see Ebiquity undertake an assessment of the various effectiveness models in the marketplace. The study will aim to reveal insights, educate ISBA members and raise industry standards, with the hope that can improve marketing’s accountability.
Much of the work will be undertaken by ISBA’s insight and effectiveness steering group, chaired by Mondelez’s Matt Stockbridge. Ebiquity is one of a small number of partnerships ISBA has established to drive forward its agenda, with marketing effectiveness a key area of focus.
Phil Smith, ISBA’s director general, says: “Improving effectiveness and ROI for advertisers is one of ISBA’s key goals and is set out in our manifesto. We believe our partnership with Ebiquity will important in achieving this and we look forward to delivering more insight and knowledge to our members.”
Marketing effectiveness is rising up the agenda as clients look to better understand ROI and both the short- and long-term impact of their investment. Brands including Direct Line and Telefonica have set up their own in-house effectiveness units, while Diageo now has a tool, dubbed Catalyst, that helps marketers better understand the impact and ROI of their spend.
Trade bodies including Thinkbox and Radiocentre are also driving the marketing effectiveness agenda. Both have partnered with Ebiquity on studies looking at profitable ROI and the value of different media channels respectively, with the aim of dispelling common misconceptions.
ISBA hopes its work with Ebiquity will help the whole industry improve knowledge levels, develop new innovations and set better benchmarks for effectiveness.
Stockbridge adds: “In my role as chair I am really pleased about this partnership. It’s so important that the insight and effectiveness steering group benefits from the input of industry leaders and experts to help us move the industry forward. “