As digital infuses every medium, one of the oldest advertising mediums around — out-of-home — is getting a digital makeover. Forrester Researcher Cory Madigan recently attended a MediaPost summit on this topic. Here’s Cory’s take on the event:
On April 11th, MediaPost hosted a Digital Out-Of-Home Summit in New York. The event was primarily attended by digital out-of-home (DOOH) vendors, and the content was geared toward that audience, focusing on what the DOOH industry can do to help media planners and buyers shift spend to that channel. The opportunity is clear: As the medium closest to offline purchase, marketers can use DOOH to complete a marketing loop that involves TV, mobile, social, and out-of-home media. Tricia Nichols, global lead of consumer engagement and media strategy for Gap brands, noted that the interactivity of DOOH screens lends itself to in-store experiences, going beyond offers and into social loyalty. But with what seems like an obvious way to spend ad dollars, young DOOH media is having a hard time selling itself to media buyers and advertisers. How can the industry rise to the challenges it faces?
Media planners: Break out of your silos. Rather than plan with a customer-centric approach, media planners focus only on their channel with little collaboration across other media. Because many advertisers are already unsure how to integrate DOOH into broader campaigns and programs, opportunities to marry place-based media and mobile programs, for example, go by the wayside. Agencies and marketers need to plan media according to the customer life cycle, and DOOH will be more likely to add value and find the relevance it seeks by marrying the targeting and geolocation capabilities this medium offers with content made for its place in the customer life cycle.
The ever-insightful Mike Glantz has picked up on something strange in the water for video (TV and online) advertising these days. After conducting a great panel at the Forrester Marketing Leadership Forum in Los Angeles last week, here's his take:
Online video is certainly rising fast as a medium and an ad vehicle. Just this week, comScore announced that Americans watched more than 8 billion video ad impressions in March alone, setting an all-time record. Audiences in the US are embracing online video across a wide variety of devices and show no signs of slowing down. To capitalize on this explosive growth, many of the big online publishers like AOL, Hulu, and Yahoo are hosting their own "New Fronts," with the hope of emulating TV and attracting bigger advertisers with deeper pockets and larger commitments to purchase the more valuable online ad space in advance.
Last week, Forrester got about 700 of our friends together (ok, conference attendees) to figure out what is cool and what is critical in marketing today as well as what is likely to cross from the former to the latter. We had amazing presentations from major consumer goods, retail, insurance, and technology brands tackling these different issues.
Below, I have included the graphic illustrations of these presentations (courtesy of Kate Dwyer at Collective Next), highlighting the key takeaways from each. In them, you can see the stories and concepts that our speakers revealed to help the audience progress in this complex marketing world we now live in.
Branding is cool again, according to Chris Stutzman. He studied the relationship expressed by consumers between things like brand pride and brand uniqueness and how they influence premium prices and willingness to recommend. His insight: 21st century brands will be built on different foundations than 20th century brands, especially as they relate to what leads the marketing effort. Product-led brands will suffer as experience-led brands thrive (Note: His report will be coming out soon, but here is preview from Advertising Age).
Bummer, we have to wait another week. Apparently ICANN is concerned about possible tampering with the TLD Application System (TAS), as they rightly should be, so they have closed it down for a few days, resulting in the application window for new gTLDs being extended from today to next Friday, April 20th. As it states on its site, "Recently, we received a report of unusual behavior with the operation of the TAS system. We then identified a technical issue with the TAS system software."
Not that this shouldn't make a difference to you, because if you haven't taken a stand on gTLDs for your company and don't have your application all ready to go by today, you're most likely gonna miss the boat anyway. But as a marketing leader, you need to make sure you have someone paying close attention to the program over the next few weeks.
We've been expecting that ICANN will post the public portions of all the applications on its site by April 30th (don't be surprised if this slips a week as well). By reviewing this posting, you'll see who is applying and what strings they are applying for. Whether or not you have applied for your own gTLD, make sure you go through the list to see if someone has applied for a string that may violate a trademark right for your company or one of your brands. It will be up to you to file a legal rights objection if this happens. It is most likely to happen if you've got a company or product name that is a commonly used word, like United.
Forrester applauds GM, Goodby, and McCann for breaking ground to create a new genre of agency orchestration.
Last week's announcement of Chevrolet's new global creative agency Commonwealth, a joint venture between Omnicom'sGoodby, Silverstein & Partners and IPG's McCann Erickson Worldwide, is further evidence that the complexity of managing a global brand demands marketers and agencies to work together in new ways.
Despite being created primarily out of financial necessity — to cut more than $2 billion in global marketing expenses — CMO Joel Ewanick and agency leaders at Goodby and McCann arrived at an innovative solution to improve the brand's global creative stewardship. Less-committed CMOs might've given up on the idea that they could get their two most important creative agencies, from different holding companies, to work together. And lesser agencies might have folded up the tent and retreated to greener pastures, before sharing brand strategy and creative duties. But they didn't. They stared a cold financial reality in the eye, apparently over a hot coffee at a shop named Commonwealth.
So what kind of music will Commonwealth be playing for Chevy?