SMI expands coverage of product categories
Marketers will be given more detailed cross-platform advertising spending and share of voice data after Standard Media Index tripled the number of product categories it reports.
Jane Schulze said new measures will deliver greater industry transparency
While the SMI measures, which have become an industry standard since they were launched eight years ago, have previously only broken down ad spending across broad categories such as automotive, FMCG, retail, food/produce/dairy and other sectors, it will now segment within sectors breaking down a sector such as retail into department stores, office and hardware, chemists, electrical retailers and discount, to name a few.
Jane Schulze, SMI’s Australia and New Zealand managing director, said the level of data that was now available from media agencies meant advertisers should not have to rely on estimates when developing their strategies.
“What we are doing is providing transparency for the first time to marketers,” Schulze said.
“We are giving them, we think, the data they need to properly understand what’s going on within their discrete sectors. It’s kind of crazy that in this world of media data – everyone has got consumer data, programmatic overlying data on data, it’s a data world according to all CMOs, they never have enough data, which is ‘how big is my category, how can I know my true share of voice?’.”
Source: Standard Media Index
Announcing the new granular measures, SMI also revealed the top 10 biggest increases and decreases in spending for the first quarter of 2017 within the new categories, with imported beer spending up 252% year on year, from $11.1m and computer software/services up 92.7% from $22.04m.
Spending on food/alcohol retailers/shopping malls jump[ed $23.6m to $77.3m while auto brand/sponsorship rose $11.8m to $93.2m for the quarter compared to the same time the previous year.
Optical products/retailers saw the biggest decline in spend, down $7.6m to $2.8m, a drop of 72.9%, while travel services/agents was down$6.3m to $28.5m.
