Everyone remembers Elf yourself and the impact it had on personalized e-cards.
Years have now passed and you expect the elves on the background to build the e-card for you – and believe me, the elves have been pretty busy these last few years, especially with data.
RTB & Social – from myth to reality
For those who thought RTB was a fad, now is the time to roll your eyes – it’s grown 366% in Europe over 2013, and it’s expanding to all forms of digital (and non-digital) media, and it’s a natural product of the massive amounts of data each individual is generating – actively or not. (1)
Social – through facebook – was the first one of the “esoterical” forms of digital that grew in a sustainable fashion due to programmatic media, and it grew to over 2.5Bn USD (2) just for facebook in 2013. Data is the perfect complement and AI the perfect method to consecutively optimize any media campaign – check out attribution modeling platforms and services, like apsalar, kochava and others…basically, understanding where to spend you’re money to buy more business!
All that targeting for a static ad?
But with so much talk around RTB and hyper-targeting, the marketing and the assets are still lagging! How are you supposed to create 1 Million different video assets and the marketing guidelines and framework to serve to each of your clients a personalized ad?
It’s definitely an opportunity, and a dire need for both brands, and agencies.
The first ones need this capability to improve the ROI of their increasing digital spend. If Digital is the measurable media, it must also allow optimization and responsiveness, and realtime (previous post) data is here, so there is no excuse.
Agencies also need it desperately, so they can continue shifting the budget to a more controllable area and especially when technology is invading the media industry, clients want to add thought leadership to results. Especially in RTB, measurability allows them to give clients a guarantee of performance, to sell ROI, is key, but there is something missing, and that’s the capacity to create the personalized and contextualized ads for every user being targeted in a campaign!
The User-centric shift
In the missing edge of this triangle is the user (which funny enough, everyone forgot for a while).
The user is connected through several devices, in different contexts and for different ends. The users expect advertisers to know that, and if you speak about Millenials, many of them will opt in to these systems and give you their data, to get more personalized and intelligent advertising reach them through their devices, when they need it. It’s all about the value exchange. (3)
So they don’t read the (physical) mail with their phone bill, nor the e-mail they receive with the detailed bill. They would probably watch a video where their account manager presented their bill, and told them how they could get more of their plans or even save money.
These new generations of users also expect to get their bank account manager (if they actually know him) to be the one that communicates with them and tell them what they could be doing better with their money.
Another example is around energy and bills. Wouldn’t you be more motivated to act on a video that speaks to you, about you and either improves your service level or reduces your costs?
The expected result
The numbers can be extrapolated from the typical response rates of engagement with video vs normal media. Imagine what this could do for your business.
Wouldn’t you like to serve a video invite to a client passing in front of your store, after he’s visited two other competitor retailers, and searched for specific items online, that you actually sell in that same store?
You can actually put together this data and have a system that is intelligent enough to target, buy and serve this piece of media to one specific client. Now comes the next challenge – produce hyper-targeted videos or rich media, on the fly!
The potential is to start carving a piece of that 99.5% of online advertising waste, and learn exponentially faster on how to optimize your media spend. If systems can buy smarter, media can be put together in a much smarter way – technology, data and processing capability are no longer barriers!
A few months ago I came across IDOMOO (it stands for I do movies – cool!), that have created a cloud based system that feeds of data base parameters to dynamically render personalized videos on the cloud, and serve them to your clients.
Imagine the potential of performance by having programmatic marketing serving programmatic media to a digitally traceable customer (creepiness aside)?
Serve media in any language, anywhere in the world, fed by any CRM system, based on similar video templates, maintaining brand consistency globally.
It’s in its early days, but think about how information about a single user, travels through the cloud to contextualize the use of any device, location, time of day, weather, activity and especially using social (and web – if you’re google or a telco) activity to target messages to what you need now, and deliver it to you where you’ll see it, and when relevant.
If video raises CTR’s by up to 4 times, imagine buying campaigns that using smart systems – like for instance Criteo’s – can guarantee 4x conversion rates! Imagine reproducing travel and financial industries performance digital media philosophies in FMCG and Retail.
Remember what Steven Spielberg had to say about it in Minority report?
Could RTB become the standard in ANY digital media format, including Rich Media and Video?
What are the key trends you’re watching in this space and what companies do you know that are innovating in these areas?
(2) Techcrunch: http://techcrunch.com/2014/04/23/facebook-q1-2014-earnings/
(3) Telefónica/FT: http://survey.telefonica.com/survey-findings/
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