IPA Publishes Online Guide Explaining Econometrics
The IPA has published an online guide to help agencies and advertisers exploit the full potential of econometrics to measure the return on investment from their marketing campaigns.
UK marketers have been using econometrics for decades, but there has long been a lack of understanding as to how the methodology can best be used to measure the impact of advertising on sales and profits.
The IPA is attempting to clear up this confusion with the publication of Econometrics Explained, which is available online at www.ipa.co.uk. The guide has been written by two of the UK’s foremost practitioners to enable advertisers to commission and judge econometrics with confidence.
The guide explains in broad terms what econometrics is and what it is used for. It also focuses on how the method can be applied to communications and explains in simple terms how it actually works.
Commenting on the initiative, Les Binet of the IPA’s value of advertising committee, said: “We at the IPA believe that this lack of understanding is preventing UK clients and their agencies from exploiting the full potential of econometrics.”
Last month the IPA announced the appointment of Sven Olsen as chairman of the value of advertising committee. Olsen began his advertising career in 1984 with Davidson Pearce (now DDB) and has worked on several major brands including Pepsi, Apple and Peugeot (see IPA Appoints Sven Olsen As New Committee Chairman).
IPA: 020 7235 7020 www.ipa.co.uk
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