Premium content, addressability and contextual reference are the driving force to deliver the scale of TV advertising, but what’s holding broadcasters back from unlocking a $7billion TV advertising revenue opportunity and fulfilling their full ad potential? Last December, media executives from all over gathered in London to attend The Future of TV Advertising Forum. CaitlinRead More
Recently, Omar Sheikh, an analyst with Credit Suisse, predicted that Advanced TV will be a $100 billion market by 2030. While I can’t predict which companies will command the most control, and deliver the best offerings to advertisers, I can predict the elements that are required to succeed.
The growth opportunity for TV companies is huge right now, but they need to incorporate elements of digital into their business – namely audience data and impression metrics. Advertisers want premium products from TV companies, but they need to be able to buy it easily and incorporate it into multichannel media strategies. TV companies that master this hybrid sales process will take market share and see big growth.
Every linear TV company will need to assess their strategy as advertisers start to gravitate toward advertising informed by audience data that goes beyond GRPs. That’s why I’m excited to be hosting a session Wednesday, November 29 in Toronto with comScore to create a blueprint for success for linear companies working to upgrade and prepare for the future.
We will address the roadblocks facing linear companies today and discuss the practical strategies that will help leaders move beyond the skeptics – starting now.
Spot + Rating to Spot +Data
There are several practical places to start. For the savvy linear seller, audience data gives you the opportunity to increase your value between the upfronts and the scatter markets. You can find macro trends, apply data including age and gender, and command higher prices for your inventory. Rather than relying solely on ratings data, you can diversify and highlight undervalued parts of your lineup. We’ll talk about what data is out there now, who’s successful and how they’re achieving that success.
Linear companies aren’t used to having so much data to inform changes to campaigns, or so many insights to help create new offerings. With audience data, linear companies can not only improve campaigns on a more granular level, they can take what works and create new packages for similar clients. Audience data, and how it affects campaign delivery, can be worked into yield decisions across channels and advertisers, and can ultimately inform the product catalog, kicking off a positive cycle of insights and growth.
Workflow and Product Catalog
Creating new processes to add data, cut up your workflow and spread it across different channels can be complicated, but also lucrative. We’ll talk about the solutions that are already available, how they work and what it takes to invest in change. At the core sits your product catalog, which will become more complex, and more important. The product catalog will become the unifying engine of sales across all of the various delivery channels – from VOD to addressable to DAI. Centralizing your products as you also grow them across dimensions is not simple, but it is necessary – and possible.
When you’re dealing with linear, VOD, Hulu, Addressable and many other delivery streams, you need a flexible, multi-dimensional delivery process, as well as technology that can keep up. Delivering in silos loses your company money, and loses advertisers, who don’t want multiple reports and disconnected campaigns. To do this right, you’ll need a strategy for performance management before, during and after every campaign, from pre-sales inventory valuation to maintenance to post-campaign yield assessment.
Ultimately, the summit on Wednesday, November 29 is a practical one, meant for talking shop in the face of massive change. Every linear company has their own legacy systems, processes and concerns about Advanced TV, but the truth is already out there – advertisers want to buy based on data, and they want more flexibility without more hassle.
You have the chance to help build the future, so join us and your peers for an event that will help you pave the way to Advanced TV success!