Organization Lays Foundation for Industry Turnaround
MEMBERSHIP TRIPLES IN 2002
New York, NY – December 20, 2002 – Pointing to 2002 as the most crucial year yet in the development of the interactive medium, the Interactive Advertising Bureau (IAB) and its member companies have mounted a series of initiatives throughout the year, all of which are intended to make interactive advertising simpler to buy and sell, highlight its effectiveness through breakthrough research, and develop data designed to influence expansion of interactive budgets by marketers and agencies. Wrapping around all of these initiatives is the industry’s interactive Branding Campaign (IBC), an industry-wide pro bono effort targeted to the marketing industry’s key decision makers.
“The growth and accomplishments that the IAB staff has made this past year have exceeded our expectations, impacting the industry directly and raising awareness of the efficacy of online marketing to an ever widening circle of influencers,” said Shelby Bonnie, Chairman of the IAB. “With what has been accomplished in 2002, the board is excited and supportive of the agenda that is laid for 2003.”
“Whereas 2002 presented a challenging business climate for some of our members, it only reinforced and strengthened the resolve of the IAB and its member companies to make interactive a critical component of marketers’ plans,” said Greg Stuart, President & CEO of the IAB. “As we head into the new year, and continue to demonstrate the value of interactive in the media mix, refine and expand guidelines and recommendations and work with the other areas of the business to reach consensus on a variety of items, we continue to reinforce the groundwork of our members’ businesses, contributing to the opportunity for sustained growth.”
In the past year, the IAB has moved aggressively to identify logjams and issues that have hindered industry growth, and addressed them with a series of initiatives that provide a foundation for an industry turnaround in 2003. This past year has seen the IAB:
· Initiate Phase II & III of the Cross Media Optimization Study (XMOS) research initiative. Building upon the groundbreaking Unilever and MSN study, eight international marketers are participating in XMOS research with results to be shared over the next year. Companies like McDonald’s, Kimberly Clark, Colgate Palmolive, ING and others have committed to XMOS research in the coming year.
· Launch the industry’s first online and print ad campaign that’s delivered over 350 million online impressions and six high profile print ads to date. Euro RSCG MVBMS Partners, with new creative to launch in 2003, will handle the second phase of the industry’s ad campaign.
· Hold six industry-wide events, emphasizing the organization’s strength in bringing buyers and sellers of Interactive advertising together, as exemplified by The Leadership Forum 2002 which united top marketers, agencies and publishers for a day-long look at the current and future use of interactive media
· Sponsor three Adweek Magazine inserts, designed to stimulate interest and highlight important growth areas for the industry.
· Totally rebuild the IAB Web site to provide members with valuable metrics, data and information from across the industry in an orderly and easy-to-use navigation system. Since re-launch in August, IAB site traffic has more than doubled.
· Lead a consortium of industry organizations including the Advertising Research Foundation (ARF), Media Rating Council (MRC) to complete and launch the industry’s first Campaign Measurement and Audit Guidelines. These guidelines have the support of the American Association of Advertising Agencies (AAAA) as well as the Association of National Advertisers (ANA)
· Reach agreement with the American Association of Advertising Agencies and launch Terms & Conditions for Internet Advertising V2.0.
· Initiate Reach & Frequency guidelines in development with the Advertising Research Foundation.
· Tripled membership and set up sixteen IAB industry committees which focus on identifying issues, recommending solutions to eliminate points of friction within certain industry sectors or to help build greater functional excellence.
“Never has the interactive industry come together like it has this year. The IAB, its Board and Members have worked extremely hard to provide the research and tools necessary so that the benefits of the interactive medium can be clearly capitalized on by agencies and marketers,” Stuart added. “The building blocks we put in place this year are the basis for our work in 2003 as we evolve our efforts to better serve our membership. The industry will continue to rally, and it will because all of our members regardless of company size understand that the interactive medium is the most important medium for marketers ever assembled. I personally thank the IAB Board and its membership for giving me the opportunity to help by leading the IAB.”
About the IAB
Founded in 1996, the Interactive Advertising Bureau (IAB) is the leading interactive advertising association and represents companies responsible for selling over 75% of online advertising in the United States, including; AOL, CNET, MSN, Overture Services, Walt Disney Internet Group, Yahoo, and over one hundred others. Its activities include evaluating and recommending standards and practices, fielding research to document the effectiveness of the interactive medium and educating the advertising industry about the use of interactive advertising. Membership includes companies that are actively engaged in, and support the sale of interactive advertising.
Contact:
Stu Ginsburg
FAVA PR