Media companies are currently spending most of their time in the area where television meets digital. Video advertising has changed dramatically because of innovations like connected TV, broadcasting, and addressable TV. Instantly, TV has the capability to reach a wide range of audiences, from multinational to local and from B2C to B2B.
Marketers have the option of thinking big – exploring new ways to utilize the medium and channel combinations – while also thinking small – connecting with smaller, more tightly targeted audiences. Moreover, programmatic purchases occur increasingly, resulting in more efficiency. Furthermore, as a result of the pandemic, there has been increased viewing across multiple platforms, giving advertisers even more opportunity to target the market.
As marketers move into this new environment, what challenges do they face?
Simon Betts, the global client director at RTL AdConnect, and Dean Weaving, the Director of Display, Video & Social at Deliveroo met with The Drum’s Creative Transformation Festival team to discuss the challenges and opportunities in realizing its potential.
From the session, there were several key takeaways:
- Identify objectives;
- Test and learn;
- Think creatively.
TV’s reach and impact are combined with high-quality data available on the web to create excitement in this space. Advertising, then, is more effective because it’s more targeted and it’s also more efficient because it wastes less. “We always talk about TV or high-end videos using content or channel or genre as a proxy,” Weaving said.
“But if we’re already looking at the segmentation of our first-party audiences from our planning, and then we can overlay it with that fuller way of thinking, it allows us to create really nice pools of inventory. We can say, ‘We know these high-end females are here from a segment perspective, but we also know from our panel data that they index very highly to watch these shows, which allows us to finely tune where we want to spend our money.”
By combining these channels, new opportunities are also created, such as becoming better positioned to reach a wider audience. Betts explained, “Traditionally, we’ve used a demographic approach to audiences, but we know that’s not necessarily the whole story. There are pockets of people that watch lots of different content that maybe you wouldn’t expect them to. Look at something like Love Island; everybody thinks it has an incredibly young audience, but there are people right across the spectrum that watch and engage with that sort of content.”
Knowing what you want is important, said Weaving, so you can decide how to find out whether it’s working.
With the ability to target different and aim at different audiences, you need to have slightly tweaked messages to do that job properly. Otherwise, what’s the point?
Test and learn
Tests and learning are the best methods of tackling this problem, according to Weaving. “If I move a lot of my spend over to a particular channel, how would that stack up against what I’m delivering now? Will it move the needle? And how do we measure that?” he said. “And then how do we make big bets and big decisions?” he said.
“Trying to build a measurement framework for what digital video can offer across the full spectrum of different products is really difficult,” said Weaving.
“We’re taking something that’s been historically planned by audience penetration or reach, and we want to do something more sophisticated, but there are all these hurdles. I don’t think anyone’s been able to crack having a holistic approach to video – but hopefully, we’ll get there soon.”
In addition, Betts pointed out that improving targeting requires more creativity. “With the ability to target different and aim at different audiences, you need to have slightly tweaked messages to do that job properly. Otherwise, what’s the point?” he asked. “That’s a creative conundrum that brands have to figure out. How can they offer those nuances to their message without it costing a fortune to reshoot something every time?”
“As we start to look at using video across the funnel, and across our audiences, we have to have a multitude of different creative sets that we can choose from, and then start to build those creatives as required,” he said. “The idea is that a six-second bumper on YouTube or in-stream needs to have some resonance with the ‘big ad’, but it also needs to be different enough that it’s localized, or it’s friendly enough to the consumer.”
However, the organization remains confident we’re on the brink of a new age in TV and video advertising. “TV has always been very much a brand offering,” he said, “but now we can start to tap into the different places where we’re talking to our audiences, using video across the whole funnel, at different prices, at different times. I’ve never seen anyone think about it like that before.”