Jonah Goodhart, a founding investor in Right Media, believes that the 90’s, at least as they pertain to the development of digital media advertising, were one very expensive mistake. The specific mistake was that the entire online ad economy was built on the premise that users would click on Web ads.
“Clicks are the wrong metric for brands,” said Goodhart as part of a wide-ranging, introspective interview with Digiday. “We spent more than a decade helping build this ecosystem but we made a mistake, saying that the click was the right metric. It’s not.”
For years, Goodhart himself proclaimed the benefits of using last-click as a valid metric for display and personally helped funnel millions into a digital advertising ecosystem that he now believes is innately flawed.The display ecosystem and, by extension, the display-analytics industry, are designed to employ a metric that is basically irrelevant according to Goodhart.
Goodhart believes that traditional digital media analytics can’t measure true consumer engagement, and are therefore inherently unfit to provide any useful insight into the full purchase funnel. Thus, major brands are still shying away from the Web.
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