A 7-Step Vision For Improving The Video Advertising Ecosystem
Streaming services and networks continue to release incredible content to capture more viewers despite the challenges stemming from the pandemic. David Cohen, Interactive Advertising Bureau (IAB) President, discusses how the surge in TV viewership has put pricing pressure on CPMs and escalated issues that were already present, including contradictory measurement structures and lack of transparency.
David and Matt Collins, our host, also discuss the inconsistency of ad-supported streaming and how it has yet to match the scale of linear TV advertising. His 7-step vision will lend insight into why there is no better time than the present to reset, rethink, and re-evaluate in order to continue success.
1. Cooperation can be more impactful than competition.
Just because something may advance your brand does not mean that it will help the industry as a whole. By serving the greater good, you are in turn serving yourself and the community as well.
2. People seek immediate gratification; don’t let this deter you from also prioritizing long term planning.
David points out how having a combination of quick wind and long term projects is of critical importance. Everyone is super busy, especially in the current market, and whatever is produced needs to be of value.
3. Make your objectives and practices crystal clear.
Clear charters, governance, and plans will help individuals come together and stay cohesive. Unity is essential, especially for TV advertising.
4. Agility and flexibility are winners’ traits.
David believes that advertisers who are creative and willing to deviate from their typical routines are the ones winning in the current marketplace. You need to not only be aware of the rapid changes occurring, but adapt to these changes and roll with the punches to come out on top.
5. Expand your transaction window for year-round rewards.
Basing planning and buying frequency on the season or traditional calendar schedules (like the Upfronts) may not be best for your brand. David surmises that people should buy according to their business goals and aspirations.