Cord cutting isn't just a consumer topic. Business models can fall victim to the trend, as well. Google recently announced that it will be shutting down its marketplace for traditional television advertising to focus on digital video solutions. It is clear that even the largest advertising platforms can no longer invest in trying to better the 'old' system, and must move full-steam ahead with digital video to stay competitive.
Tags: adwords, Canoe Ventures, digital advertising, digital video, EBIF, google, online video, online video advertising, television advertising, TV ads, TV advertising, VAST, video advertising, VPAID, web publishers
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Last week, Magnetic hosted the Attribution Revolution, an event in New York City that featured a panel discussion comprised of some of the greatest minds in digital ad measurement, to debate the hottest topic in today’s digital space – attribution. But while attribution has remained top of mind for marketers for some time, the industry as a whole continues to debate over the best way to measure the value of media performance across channels.
Panelists included Bill Kee, Product Manager at Google; Jeff Greenfield, COO & Co-Founder of C3 Metrics; John Bates, Product Manager for Predictive Marketing Solutions at Adobe; and Paul Pellman, CEO of Adometry. Moderated by myself, the event provided an opportunity for each company to share their opinions on the topic and debate over which method is most effective. Additionally, we had great participation from the audience, which fueled questions around QR codes, offline and online measurement and implementation.
Below, I’ve outlined a few key takeaways from the panel:
Attribution currently captures all of the effects that offline media has in the digital space. But as television and print channels begin to recognize and embrace digital, marketing mixes will begin to shift. Attribution now offers digital media the opportunity to engage in a conversation on its own... Read more
Tags: advertising measurement, attribution, attribution revolution, digital advertising, Digital Marketing, james green, magnetic search retargeting, media measurement
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According to US Census data, 75 percent of consumer spending occurs within 15 miles of the average American’s front door, meaning 50 percent of the nation’s GDP is dependent on consumers buying locally. With these statistics in mind, it’s important for brick-and-mortar businesses—and the brands that sell within them—to connect with consumers to drive them into stores.
Over the last six decades, newspapers, magazines, TV, radio, direct mail and free standing inserts were the primary channels for reaching and serving ads to a target audience. More recently, advertisers have recognized the importance of digital advertising and have been putting more of their local advertising dollars online. According to a report by media research company BIA/Kelsey, the rate of digital ad growth outstrips total local media expenditures and is expected to rise 2.6 percent annually through 2016 to $151.3 billion.
So what do advertisers and brands need to consider when allocating local advertising budgets online?
It’s the scale and reach, cost-effectiveness, speed and flexibility of digital that enables advertisers to efficiently drive in-store traffic. Digital intrinsically offers greater flexibility for a campaign, and localized digital advertising solutions allow advertisers to target different ads to different neighborhoods around the country.
Not every consumer lives within close... Read more
There is a lot of talk out there about how Facebook and other social media advertising outlets will make all other forms of digital advertising moot. There is no doubt that there is a lot of value in social media. The ability to create a conversation with your constituents is something that cannot be found at scale anywhere else. It is a marketing channel that has spawned an entire industry, and rightfully so.
That said, the demise of all other digital-based advertising at the emergence of this social channel is poppycock. I have often noticed that the digital experts in our space lack a historical view of advertising. The digital VC community—which has zero media and advertising expertise, but that invests heavily in digital companies—exacerbates this.
Dynamic new media and emerging communication channels often see meteoric growth. A leveling off always follows growth, as the channel finds its rightful place within the media mix of any advertisers’ plans. All you have to do is look back at the emergence of search marketing and you can see the parallel. It was not so long ago that it was proclaimed that display, at the hands of search, was dead. That proclamation was nullified, of... Read more
QR codes are where SMS-based calls to action were five years ago: Despite the inherent benefits of brands engaging with customers via mobile, consumers didn’t see the value. Why should I send a text message to my favorite potato chip brand? I’m just going to get annoying commercials via text message. But once advertisers made it worthwhile — through mobile loyalty clubs, members-only content, special events and sales, or other content that made customers feel like they had “insider status” — they opted in.
The same is true for QR codes. Most of the time now, they point to a company or product website, or maybe a special landing page — a lukewarm call to action that lacks any real activity.
Instead, advertisers should see this as a way to reward customers who have taken the time to download an application and scan their code by taking them right to value-added content.