MO’ MEASUREMENT, MO’ PROBLEMS FOR FB: I think yesterday was “Groundhog Day” for digital media. Yet again Facebook has disclosed a measurement calculation error. This time it was a miscalculation of the number of times ads are being clicked on, which could result in overbilling advertisers who pay on a CPC basis. The error rate and financial impact were relatively small – FB estimates .04% (so .0004) of mobile video carousel ads were affected, and is offering $10 (yes, 10 whole dollars) in restitution to affected clients. But it’s not about the size of the mistake, it’s the principle that FB’s self-measurement methodology is fundamentally flawed. This error is the 10th measurement miscalculation FB’s revealed since Sept’16 – and you wonder why brands have lost trust in digital platforms? To FB’s credit they’ve made major steps towards transparency in the last several months by opening themselves up to MRC accreditation and third party measurement. But unfortunately for our entire industry, the damage that keeps happening is affecting us all.
KATZ’S (SORT OF) NEW AUDIO PROGRAMMATIC PLATFORM: There was a decent amount of buzz in the trades yesterday about Katz Media’s relaunch of their proprietary audio programmatic platform called Expressway. This was originally launched in late 2015, but it took over a year for Katz to gain widespread adoption by the broadcasters. On Tuesday Cumulus committed its 500+ stations to Expressway, bringing the total up to eight broadcasters and over 2,000 stations (which is about a quarter of the broadcast radio industry). Despite their “data enablement” claims, Expressway can’t target anything more than station formats. So this platform is really about delivering bulk cost savings by eliminating the need for sales reps to handle the transactions and lowering CPMs. The attached RAIN article has a pretty good summary, along with several “isn’t life wonderful now” quotes from the participants in the deal. As a side note iHeart does not participate in Expressway, as they have their own separate RTB exchange, even though both their platform and Expressway are run by the same DSP Jelli. Confusing and fragmented I know, but that’s radio for you.
THE INGREDIENTS OF EMOTIONAL INTELLIGENCE: If you’ve worked in the business world for any amount of time you know there’s an intangible quality in some coworkers which somehow makes them easier to work with and more successful than others. But it’s a hard thing to explain, much less measure. What is this invisible quality? It’s most likely something called Emotional Intelligence. The concept of EI first started circulating about 6-7 years ago and is now firmly embedded in the zeitgeist of the business world. So how can you identify EI in those around you, and more importantly, is there a way to grow your own EI? The attached Inc. article does a nice job of distilling the four primary indicators of EI – Transparency, Flexibility, Emotional Control, and Empathy. Employees who exhibit a high degree of all four traits are likely to be key team members who, like the center of a spoked wheel, are mission critical to the entire organization. I can tell you from personal experience it’s easier to be born with these skills than to learn them. During the first half of my career I realized I was born with Transparency and Emotional Control, but was relatively Inflexible and had zero Empathy. So I took it upon myself to actively work on those two qualities in order to become more emotionally centered. As with anything you want to improve upon in life, identifying the deficiency is half the battle. So how’s your EI, and what are you working on?
Have a great Thursday guys!
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