Larry Weber, founder of Weber Shandwick and now chairman of holding company W2, which owns agencies like Racepoint Group and Digital Influence Group, spoke with Doug Simon at a recent industry conference in Boston.

Weber says “more sophisticated measurement” is what’s holding the industry back.

“The decades that the ad industry had to develop CPMs and ways to measure very quickly, so their clients knew what they were buying, we need to come up with that,” he said. “Not just as an industry, but as a category of marketing. Maybe it’s cost per engagement (CPE), maybe it’s something like that.”