What do your advertisers want? Do they tell you that they “…don’t want to spend money on advertising; they want to sell stuff,” as highly regarded marketing expert and author Rishad Tobaccowala says?
Originally Published at MediaVillage
If you’re among the vast majority at least partially dependent on advertising -- whether broadcast or cable TV or CTV and digital-first, and, increasingly, hybrid AVOD/SVOD – then you might want to heed the words of Tobaccowala.
Tobaccowala made his assertion at the recent Go Addressable conference in New York City, essentially emphasizing the point that marketers and ad-supported video providers who hesitate to adopt targeted advertising solutions -- and the demonstrable ROI those can deliver -- risk getting bypassed by events.
You might say that, in more than one sense, Tobaccowala was having a “personal” conversation with his audience. And, if you are dependent on advertising, I’d like to have a “personal” discussion with you.
Whether at industry gatherings such as the Go Addressable conference or in private conversations with forward-thinking marketing experts, the overriding message is that 2024 will be a pivotal year for the advancement of holistic ad solutions encompassing CTV, addressable TV plus traditional linear TV, with true cross-platform ad-placement, measurement and targeting. And if there were one consensus word that might best encapsulate the direction of video marketing, it is personalization.
Personalization is rapidly becoming not only available, but an inescapable reality on every platform. For example, we recently announced a partnership with DOOH advertising platform Perpetual Media, enabling us to be the exclusive local and regional direct advertising sales firm in all our more than 60 DMAs for Perpetual Media and in all of Perpetual Media’s locations beyond the Viamedia DMAs. While ad targeting has largely been focused on mobile and in-home devices and platforms, Perpetual Media has cracked the code for delivering personalized video messaging to consumers via place-based, out-of-home networks. Since our announcement, other DOOH firms have approached us, understanding that personalized targeting will soon be expected by their clients.
The reality is that the marketplace demands more transparency, data-driven insights, and efficient ad delivery. Consumers gravitate toward personalized messaging and surveys consistently indicate they’ll accept marketers’ messages if they’re relevant. Marketers, understandably, are becoming more focused on ROI -- and they want their messages delivered wherever their prospective consumers can be reached.
So, I’ll add my voice to the chorus in saying we can expect to see further progress toward seamless integration of linear TV, digital programmatic advertising and Dynamic Ad Insertion (DAI) allowing real-time tailored ad customization. This convergence is not just about merging platforms; it's about creating the unified advertising ecosystem that our customers demand. Like consumers, media buyers are platform-agnostic; their goal is to deliver personalized ad experiences strategically placed in programs and other video content that consumers enjoy.
We’ve worked for years at Viamedia to help clients position themselves for the onrushing integration of technologies designed to deliver targeting, personalization and ROI. We’ve developed our DAI offering to ensure that ads are contextually relevant and timely; our clients should accept no less.
Bottom-line, marketers are opting to get personal with consumers wherever they are and on whatever screen faces them.
While various slices of the video advertising pie are shifting in size and weight, the overall pie, over time, continues to grow. This is because video advertising works. Ad technology is enabling it to work better than ever – and measurably so.
The future is bright for video advertising. Data and technology can help predict consumer behavior, optimize ad placements, and personalize real-time ad experiences. This is a good thing for all participants in the marketing funnel.
Permit me to be the umpteenth person to invoke 19th century Philadelphia retailer John Wanamaker, who reportedly (and famously) said “Half the money I spend on advertising is wasted; the trouble is I don't know which half.”
As an industry, we’re finally nearing the day, after well more than a century, when we’ll at long last have that knowledge.
And 2024 will be a pivotal year toward achieving that long-elusive objective. It will be the year we truly “get personal.”
I encourage readers to reach out with their questions or thoughts. Feel free to email me at info@viamediatv.com.
Posted at MediaVillage through the Thought Leadership self-publishing platform.
Click the social buttons to share this story with colleagues and friends.
The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.org/MyersBizNet.
