These 6 Insights from AMEC’s Global Summit will have an impact on your organisation
Barcelona 12-14 June 2018 || Written by Danielle Janssen
From the 12th until 14th of June 2018 Alexander de Ruiter (CEO) and Danielle Janssen (Media Data Analyst) attended the AMEC summit on behalf of OBI4wan in Barcelona. AMEC, short for the Association for Measurement and Evaluation of Communication, is the leading international organisation regarding the development of uniform standards for communication research worldwide. This year the summit focused on “Measurement and the Three I’s: Insights, Innovation, and Integration driving the future”. Of course, being a data-loving organisation, OBI4wan could not miss out!
AMEC is famous for its Barcelona Principles that were updated in 2015 and AMEC’s new Integrated Evaluation Framework (IEF, updated in 2016). This new framework shows how to ‘operationalise’ the Barcelona Principles, demonstrates how to turn Principles into action, and to finally prove the value of our work. OBI Insights uses this as input to translate KPI’s and other goals to measurable insights that can support data-driven strategy for clients.
During the summit, the results of AMEC’s Global Business Survey were presented. Next, to that, interesting keynote speakers gave presentations that related to AMEC’s theme. Here are six of the most important trends and insights that OBI4wan wants to tackle or on which we will concentrate on in the near future.
“If you torture data enough, it will confess” – Jamin Spitzer, Microsoft
1. Worldwide growth of the industry
Fact: 84 percent of AMEC members expect the PR and communication industry to grow in the forthcoming year. Also, two out of three members are seeing greater demand for a global footprint solution for international measurement and insight services.
What do we do? OBI4wan acknowledges the increased demand for a global footprint solution for international measurement and insight services and is thus focusing on the DACH expansion.
2. New technologies
Fact: 68 percent of AMEC members say their business can compete effectively only by investing in new technology (e.g. artificial intelligence).
What do we do? The analyst team will be collaborating more with OBI Bots. The focus will be to implement more artificial intelligence and machine learning in existing workflows as well as the OBI Brand Monitor and OBI Engage. By doing so, artificial intelligence can be used for internal support, for instance with the work of our analysts. This will improve the experience of our clients.
3. ‘Credibility challenge’
Fact: 69 percent of AMEC members agree that people, in general, are less likely to trust media content now than two years ago, also known as the credibility challenge.
What do we do? By addressing the credibility of media-content as a challenge, the added value of OBI Insights in combination with our other solutions becomes clear. We add value to our analysis with human intervention to judge the credibility of media-content as part of the interpretation of data.
4. Sector-based reputation analysis
During an interesting keynote about the banking industry, the Reputation Institute was interviewed. Enrique Johnson, Director of Spain & Latam at Reputation Institute, presented a new model based on the existing RepTrak® seven dimensions model. OBI4wan uses the RepTrak® method as input for its reputation analysis.
In the new model, the dimension Products and Services is split into two separate dimensions, because the products and services differ considerably in the banking industry. According to Johnson, this split leads to a higher correlation of variables within the model. This keynote inspired OBI Insights industry expert-analysts to reflect on our own interpretation and use of the RepTrak® model. Leading to more accurate and specific analysis for industries such as the banking industry or retail industry.
5. AMEC’s new Integrated Evaluation Framework
Fact: AMEC’s new Integrated Evaluation Framework is now used by 65 percent of AMEC members, as the basis for client measurement, business planning and education and training.
For five years in a row, the majority of AMEC-members say clients are putting increasing emphasis on insights and less on measurement/evaluation alone.
What do we do? OBI Insights will be working together with our Client Consultants to make sure that we focus on measuring the right (proxy-)metrics to give meaningful and actionable insights to our clients. To do so, one of the things OBI Insights will be implementing is the AMEC Integrated Evaluation Framework to help clients with data-driven strategies and insights.
6. No AVE’s
Fact: The percentage of AMEC members whose client measurement work normally includes advertising value equivalency (AVEs) hit its lowest point with just 16 percent in 2018.
Last year the campaign ‘Say no to AVEs’ was launched during the AMEC summit in Bangkok. This year the eradication of AVE’s was still a hot topic during the summit. Several speakers stressed that ‘education’ of the client is becoming more important.
What do we do? OBI Insights takes this role very seriously and advise our clients about how impact, reputation and/or other insights can be measured. Learning clients what AVEs are and what they measure is part of this ‘education’. AVEs do not take into account important parts of the evaluation process, but only measure the output via content. Effective evaluation goes beyond output and also includes outtakes, outcomes, and impact (based on the AMEC’s new Integrated Evaluation Framework).
“Al the gained insights will challenge us to stay up-to-date as experts in our industry. Innovative methods, interesting key trends, and practical case-studies inspired our team to find new ways of “torturing” our data and let the data “confess” new insights.” – Danielle Janssen, Media Data Analyst at OBI4wan
Just as excited about these new insights as our analyst Danielle and would you like to know more about our experts and the possibilities? Sign up here for a free demo or call us on +31 (0)85 210 50 60