Digiday: ON MEDIA Summary
Download as PPTX, PDF0 likes171 views
The document summarizes key topics and discussions from the Digiday ON Media digital media summit. The summit addressed all forms of digital media and challenges in buying digital media. Major topics included improved media targeting, new metrics beyond clicks, the role of engagement and social ads, and how agencies must adapt to changes. Presentations focused on audience targeting, the value of smaller publishers, and determining the most important metrics from the vast data available.
Digiday: ON MEDIA Summary
- 1. DigiDayON:MediaTopics, themes and learnings from the digital media summit.1
- 2. Digiday: ON Media One-day event for media publishers/vendors, and media planners/buyersAttended by agencies, content networks, technology companies and DSPs/trading desksAddressed all forms of digital media, including video, mobile and socialPresentations focused on upcoming digital media universe, and the challenges of buying digital media in constantly shifting universeMajor topics addressed included:Improved media targetingNew KPIs and metrics “beyond the click”Engagement & interaction value to brands (through advertainment and social gaming ads)Role of the agency & how we handle clients in an evolving digital world2
- 3. Agencies and The Audience-Targeting Option PoolWith increased technology, targeting is getting better – but it’s also getting easier to “paint a campaign into a corner” by over-targeting and therefore decreasing scale“Lookalike targeting” may help to scale campaigns by discovering new audiencesContext and content is still important as part of the relevancy mix (right time & right place)Do small publishers have higher audience engagement that reduces the need for targeting technology?Frequency is still a big part of display buyingRepeat brand exposure is likened to dating with a conversion (marriage) in mindAnalytics are now telling us how efficiently we are reaching peopleMulti-channel trackingFrequency to conversionPath to conversion informationOverall ROIQuestions may be eventually raised over who owns what dataFirst-party v. third-party ownership of tracking & cookie data used in targeting – how many times can it be used and who owns it once it’s bought?3
- 4. Measurement & TargetingLots of enthusiasm surrounding the “death of the click” as a KPIClicks do not equal real converts or engagement, and are not an intent indicatorClicks may still be considered a bellwether in showing response from specific audiencesSocial media is a more important indication of share of voice and audience interestThe challenge is now to isolate the most important KPI’s out of all the metrics available, to make insights actionableConsumers still lead the way with their behavior, which is why real time audience targeting is so importantMobile will give us a whole new set of metrics, because it can be used to drive a trackable, real space salePanel on digital media buying also asked what data is actually related to consumer action?We used to focus on qualitative metrics, now we focus on quantitative metricsQuestions also around value of engagement & the value of a fanHow do you determine a fan’s engagement and their real value to your business?The tools and data available to agencies may be far ahead of, and far more than, we can effectively make use of4
- 5. Measurement & Spending IncreaseReal advantage of digital is that it takes less $ to move the needle in terms of awareness70% of brands said they’d be willing to shift budget from offline to online (in 2011), but only 10% would be willing to shift a significant amount What’s the right metric to convince a brand to spend? Is awareness a factor?Are industry, buyers & agency counterparts easily lured into ‘whats latest and greatest’ vs. what moves the needle the most?Does digital creative have the “brand love” that traditional media conveys…and, if not, can digital ever compete in terms of brand recall?Formats vs. platforms – finding the best creative format for each platformThere will always be a new platform: social, mobile, video, iPads, smartphones, connected video game/TV boxeswe need to find the best formats to speak to our audience on any given device/platform? True tipping point – convergence with respect to device/platform5
- 6. Online Video As “Advertainment”With the rapid rise in online video viewing, brands are trying to drive more engagement and interest in their branded video contentIs there a formula for developing branded video content?Is it worth the investment to develop new content, or to try to push existing content online?Have online “series” ever worked, or are successful online videos always one-offs?Suggestions for developing “advertainment”Use existing “making of” or “behind the scenes” video content (VW has done this with “The Making Of ‘The Force’”Use existing viral video stars to leverage their popularity and compatibility with the online video mediumBrand existing content – why create new branded content when you can buy integration with existing content?6
- 7. Social Gaming AdsPresentation by RockYou on social game advertising (in-game ads) and video viewingFocus on incentivized advertising viewingUsers watch a video in exchange for game play itemsUsers can opt out during the videoHigh completed view rateIn-game advertising catches users while they are engaged50% of all Facebook users log on to play games7
- 8. The Changing Agency RolePanel with multiple digital media executivesQuestion as to whether we sacrifice strategy for tactics, and insight for actionsHas the focus on optimizing a campaign detracted from the strategy in planning?Does strategy gets pushed aside/overshadowed by agency process?Are we really educating clients on all the possible snags & technical complications of implementing a digital campaign? Biggest challenge lies in seamless executionWhat do we promise or give away for free that we could be charging for?Are clients getting strategy & modeling for free?Is there a real trend towards the pure DR model, where creative costs are arbitraged into a flat-rate cost per?If a brand requires elevated perception, it’s not real DRHow much does digital truly inspire action?Must be both brand impression and brand recall to get the salesHow do we educate clients on what the KPIs are for each channel?Should we focus less on what’s latest & greatest, and more on “selling what we’ve got” in current platforms & channels?8
- 9. Top Ten Quotes1. “Agencies have a bad habit of being inspired by other people’s content and ripping it off…Being safely innovative is copying something that’s been done before.” Theo Fanning, Creative Director/President, Traction2. “Clients care about value. They’re going to pinch us as it relates to price and media spend. But if you bring them real ideas, I think they’re willing to pay for that.” Tony Bombacino, President & CMO, Geomentum 3. “We’ve commoditized fans to being worth $1. That’s nuts.” Greg Shove, CEO, Halogen Media.4. “There’s not a lot of good creativity in our culture and the internet isn’t that different, but the stuff that’s great shines.” Mitchell Reichgut, Founder & CEO, Jun Group5. “I’m here to tell you traditional media is alive and well -- and it’s very profitable.” Sean Finnegan, CEO, Geomentum 6. “I think social media’s the most interesting to happen to media since I’ve been alive.” Josh Rose, EVP, Digital Creative Director, Deutsch LA7. “In the next five years, the agencies that can’t instill true cross-channel creativity…you’re going to see significant names fail… The CEOs with boards dancing on their heads are more forward thinking than their marketing departments… Brands and agencies have to think like media companies.” Ned Russell, Managing Director, Saatchi & Saatchi Wellness8. “There’s no correlation between clicks and brand lift.” FlorianKahlert, svp, business insights, Knowledge Networks9. “We joke we’re not doing our job unless buyers and sellers are pissed at us,” Chip Hall, head of buyer development, DoubleClick Ad Exchange, Google10. “There is an infinite need for strategy..but most clients don’t know how to value that, so they don’t know how to digest the high cost of strategy in a way that makes it profitable for the agency.” Chris Arens, CEO, Telepathy9