This article was originally written for, and published on, The Drum.
Read the original article, “Why the future of advertising depends on a cross-industry alliance”, here.
Imagine a world in which marketing professionals are asked to deliver increased return on ad spend (ROAS) on a daily basis in the face of inaccurate performance metrics, questionable viewability, increasingly elusive consumers, fragmented data silos, skyrocketing media costs, and little-to-no industry bargaining power. Sounds pretty bleak, right?
Yet the truth is that in advertising, this is our reality. Tech titans Facebook, Google, Amazon, and Alibaba threaten to overpower all other players in the industry, implementing data policies and self-regulating performance metrics that skew in their favor. To make matters worse, consumers are changing their behavior more quickly than ever, along with their buying journeys – faster than companies can react. In order to protect the interests of advertisers and keep up with shifting consumer dynamics, cross-industry collaboration from media companies, agencies, and programmatic software providers is needed. The ecosystem must band together and use the powerful combination of data activation and premium media in order to survive and ultimately thrive.
1. Remember, strength lies in numbers
To give advertisers competitive alternatives that put brand safety and inventory quality first and foremost, media companies, agencies, and programmatic software providers must form an alliance to amplify their individual strengths.
Media companies possess premium content and extensive reach. Companies such as Sky, ITV and Channel 4 can offer their broad market reach and unique content to provide agencies with targeted, premium opportunities to reach their clients’ audiences at scale.
Agencies bring client-specific strategic thinking, industry expertise, and creativity to the table. Amidst a slew of industry changes, agencies themselves are evolving to reposition themselves as expert partners when it comes to creating effective media strategies for clients. Agencies serve as a strategic guide and digital transformation partner for clients seeking to turn the negatives associated with changing consumer behavior into positives.
Programmatic software providers help media companies, agencies and their clients tackle this brave new world as efficiently as possible through programmatic execution. Programmatic software providers contribute buying technology for agency media planners, data modeling and analytics capabilities, and third-party brand safety enforcement and campaign measurement.
Interested in the other steps to completing this alliance? Read the full article here.