Advertising Industry Models PDF

Professional ownerships Company/brand marketing or Creative team Media team communication team 1 Receives brief...

Professional ownerships Company/brand marketing or Creative team Media team communication team 1 Receives brief Receives brief 100% ownership to define Marketing obj marketing goals and write the Evaluates it against MarCom Evaluates it against (marketing&communication) media/touchpoints landscape campaign/strategy briefing scenario. and competitors activities 2 100% ownership to translate 100% ownership to translate brief into solutions to reach ADV / 50% brief ownership brief into creative solutions the target and communication objs 50% approval ownership and message/communication communication/touchpoints strategy strategy 3 100% creative adjustment according to media strategy 100% ownership (creative 50% brief ownership delivery, media buying, Media objs 50% approval ownership e.g. when a commercial is strategic convergence, results design for TV and NOT for analysis…) digital… ADV Industry and Models 117  Professional organizations Company/brand marketing or All professionals are In-house agency Creative team Media team communication team based inside the brand Company Marketing is based in the Full service agency brand. Marketing The agency covers all communication tasks Company Adv/creative Marketing in the brand. Media agency Marketing agency Two different agencies covering creative tasks on one side and media on the It usually only looks after Company Creative creative solution/execution, no other Marketing boutique strategic evaluation provided It provides vertical support for Media specialist specific media e.g. search marketing / Out Of Home… verticals verticals verticals “Champion” team dedicated to specific tasks e.g. the social team in a client / social media agencies / social media buyers / content strategist… ADV Industry and Models 118 Short term VS long term effects ADV Industry and Models 120  Why Media is a specific “objectives family” and why it is important for creative choices Media are “advertising conveyor belt” and are an expression of society as well – and politics, and culture, and public-sentiment and… the context ;) Notwithstanding the fact a medium can be more entertaining or informative, more “user generated” (like social networks) or professional, any is a vehicle with certain peculiarities and origins: this can strongly affect strategy and thus creative deployment. Marketers need to serve consumers with the right message, at the right time, on the right channel in order to ensure desired advertising campaign’s results. Media planning is where they determine how to organise this all and thus how to optimise all these (right)levers. As said media objectives generally mirror business goals, such as long-term growth and improving ROI. Media planning will often focus through different channels, creative adjustments, potential interactions tactics to accomplish to marketing and communication goals: it does not mean this side of a marketing mix is less important, it just comes as a closing brick. ADV Industry and Models 123  Why Media is a specific “objectives family” and why it is important for creative choices Media selections and creative executions are (should be) two sides of the same coin: they have marketing and communication objectives to achieve and they are both conditioned by context and target - and budget, but this is not our concern here ;). The better these two forces work together, the better out strategy will perform. There is so much more possible than simply applying demographics and having a specific range of media placements to run: Media Mix can be an active part in a strategy for many other reasons - They can be active (or activated) by consumer in a specific moment of their journey towards the good (check the Constumer Journey to come) - The way they are going to be bought may affect the whole campaign deployment (think about the fact that on Google Adwords or FB Business Suite you can buy according to specific actions such as a click or a buy! While on traditional TV you do buy an estimated potential reach on the target) - They can participate to the strategy exploiting different level of engagement with the public (check the POE paradigm to come) - They can be part of the data-driven marketing strategy ADV Industry and Models 124  Why distinction between social media and social network is important Social media Social networks cannot exist without social networks exist since the stone age Are people driven (people share Are content driven (people have a something they assume to be interesting) common interest in “something”) ADV Industry and Models 127 Key assets of the modern (digital) media scenario, affecting marketing models Communication Buying and Asset delivery assets Set the strategy Set the adv delivery ADV Industry and Models 128  The target audience is driving the adv choices Communication Delivery assets Digital is a PLATFORM, not assets a mere media ADV Industry and Models 129  The target audience is driving the adv choices Communication Delivery assets Digital is a PLATFORM, not assets a mere media Digital media is bidirectional, non linear, partecipative and «democratic» ADV Industry and Models 130  Target audience can be so much a driver: to transform into a context (content) creator itself Communication Delivery assets Digital is a PLATFORM, not assets a mere media We are in the “UGC” media scenario (User Generated Content) were consumer is also content producer. Digital is a place for content PROSUMER and prosumerism ADV Industry and Models 131  Digital is a task related media Communication Delivery assets assets Empowering the public The more the target is focused on a task, the less it’s likely he will pay attention to advertising… ADV Industry and Models 134 The new (Digital) Media Paradigm Communication Delivery assets assets POE “Réclame” Brand touchpoints e.g. flag shops Word-of-mouth / reviews ADV Industry and Models 135  The new (Digital) Media Paradigm Communication Delivery assets assets POE Branded content PAID OWNED Sponsored content EARNED Shared media ADV Industry and Models 136 POE Media types ADV Industry and Models 137 The new (Digital) Media Paradigm Communication Delivery assets assets POE We enter the era of touchpoints further than targeted vehicles. A touchpoint can be prompted or unprompted, even spontaneous: the more all he processes are coordinated, the better the strategy will perform ADV Industry and Models 138  Connected media, converging and diverging contents Communication Delivery assets assets Multiplatform usage ADV Industry and Models 139  Connected media, converging and diverging contents Communication Delivery assets assets Multiplatform usage Public is hardly using a single source: media are more and more often activated together or complementary. This requires communication tasks to pay attention to Clarity, Consistency, Credibility and Competitiveness all throughout! ADV Industry and Models 140  e.g. Search and tv Multiplatform usage ADV Industry and Models 141  e.g. Multiscreen Multiplatform usage ADV Industry and Models 142  Big opportunities from big data Communication Delivery assets assets Data Planning & tracking ADV Industry and Models 143  Big data, big opportunities Communication Delivery assets assets Data Planning & tracking ADV Industry and Models 144  Data-driven marketing Data-driven marketing applied to advertising is the methodology of optimizing brand communications based on customer information. Data-driven marketers use customer data, analytics, and measurable insights to predict target needs, desires and future behaviors. Nowadays most advertising vehicles are connected and can register activities, preferences, intentions through technological solutions such as data management o customer data platforms that will allow to collect and analyze a massive amount of information that can serve as insights. Audience leave countless traces of their preferences, wishes and behaviors that can be thus marketing exploited to design an efficient strategy. Traditional marketing and the 4Ps Model has always focused on estimating customers’ needs and desires basing itself on experience, and general market trends and then, “motivate” what customers wanted to buy. In practical terms, this has always meant: Gaining understanding of the target audience first Estimating customer needs and habits Designing strategies and creatives to deliver goods promising to solve those needs Planning a high reach but non-personalized communication Traditional marketers used their assumptions about the target audience, combined with available market studies. ADV Industry and Models 145  Data-driven marketing This way companies had to launch many strategies to find the one capable of achieving their goals. On the contrary data- driven marketing allows marketers to connect with customers (4Cs of marketing), collect information almost in real time and analyze these in order to determine the right time and the right communication/message strategy: more than assumption is a prediction. Modern marketers use insights and two-ways communication and feedback management to: Personalize the customer experience Target well-defined marketing segments Distinguish between returning and new customers Measure and improve their strategies in real time Data-Driven Marketing are maximized in digital environments like social media, search engines, email, and programmatic advertising. The reason is simple: these touchpoints or delivery methodologies are allowing a great volumes of data to be collected and elaborated. This means that when traditional media are connected, like they are nowadays, they can also implement data driven strategy (think about Connected and addressable TV, Digital out of home, digital audio…) ADV Industry and Models 146  Data-driven marketing In conclusion Data-driven marketing is allowing marketers to deliver relevant messages to the right audience at the right time. However, it also requires expertise in data analytics and adherence to data privacy regulations. Advertising agility and precision allowed by technological advancements of data availability strongly effect creative and media executions. The main change can be summarized as follow: the brand is not alone in the marketing process, “casting” its messages on a passive public is no longer efficient. ADV Industry and Models 147 The long tail adv planning theory Looking at the inventory we can notice that the size is the same when looked from the long tail perspective or the head. In the head – often but not only – there are higher media/editorial standards, but also stronger advertisers cluttering. In the tail offer quality might be softly lower, but for sure there is wider variety and smaller clutter. Data-planning technologies have almost neutralised this differences because allowed audience targeting and behavioural analysis. At first this was a chance only big inventories had, while later, after the long tail has been theorised, technologies allowed small sites to “unite” and thus generate an inventory amount big enough to be eligible for statistics and data-strategies. This changed not only the way an adv strategy can be deployed, but also how Paid adv inventory creative solutions can be optimised. ADV Industry and Models 150 The long tail adv planning theory An example of long tail for financial target million monthly visits >50 40 30 20 10 ADV Industry and Models 151 The long tail adv planning theory The bigger the inventory, the bigger the data set, the better the data strategy. But long tail shape is not only affecting insights: it determines the way public can be reached and thus media can be bought and creative solution optimised ADV Industry and Models 152  Deriving a «new» inventory format: from reservation to programmatic planning Advertising inventory sold through direct & personal transaction between a marketer (buyer) and a media/vehicle (seller) People buying Advertising inventory is sold through automated agreement where quantity and price offer are managed through two tech solutions: one on a buyer and one on a seller side, namely Demand Side Platforms (DSP) & Sale Side Platforms (SSP) Automation + customization via exclusive partners and, often, allowing special campaign KPIs and PROGRAMMATIC BUYING brand guidelines to be maintained. Still requires DSP/SSP management. Inventory prices are decided in real-time through an auction and any publishes or advertiser can participate. It’s called Real Tme Bidding (RTB) ADV Industry and Models 153  Deriving a «new» inventory format: from reservation to programmatic planning Also called reservation The more we switch from one buy- model to the other the more we find different potential marketers to enter Also called preferred deal the market: at the lower stage single small advertisers are entering the market. This means more adv clutter Also called private auction and more advertising creative requirements to comply to… ADV Industry and Models 154  Deriving a «new» inventory format: from reservation to programmatic planning The lower the stage, the longer the tail ;) ADV Industry and Models 155 What’s «programmatic»? ADV Industry and Models 156 Usare i dati per pianificare l’adv Mark Grether (2016): "Using Big Data for Online Advertising Without Wastage: Wishful Dream, Nightmare or Reality?", GfK Marketing Intelligence Review, Vol. 8, No. 2 (November) ADV Industry and Models 157  Behind data: Data Management Adserver Platform (DMP) ADV Industry and Models 158 How to feed a DMP… Some data examples ADV Industry and Models 159 Where do data come from ADV Industry and Models 160  Data planning is possible through all digitalised device/media What is important is that you have automation, namely that the tpuchpoint is connected so that - It can have a data input - It can deliver an adv output https://www.youtube.com/watch?v=GtJx_pZjvzc ADV Industry and Models 161  Digital evolution = data evolution = media and adv evolution Web 3.0 evolves in terms of content management more than users habilitation. Is characterized by the semantic web, the ever-present web, and the The “read-only web”(*), namely Web 1.0, allowed to search Web 2.0 is also called participative or social web. It is evolving application of artificial intelligence: all allow content for information and read it, eventually it allowed to receive into a “read&write” featured platform where users can to be easily read and accessed by a computer as by a some piece of information (a file? A document?) and still… provide their own content and are eased to share it. human. That way computers can use data on the read it. There was very little interaction and minimal Information flow is improved: it’s easier to find, faster to web as the basis for evolving artificial intelligence content generation. This sharing mode was mainly delivered access and allows site owner and site users to mutually and propose more and more significant content to by high stand professionals or companies. participate evaluating & online commenting each other. users also consistently through many different devices. Web 2.0 Web 1.0 (sharing Web 3.0 (Tech (device (sharing enhancement) experiences) enhancement) (information management) information) http://www.youtube.com/watc h?feature=endscreen&v=6zM2- KBx4cM&NR=1 Web Late 1990s / 2004 2005 / 2015 2016 / 2020 4.0? Still: web 1.0 was posing the corner stone for the first big Web 2.0 progress was also delivered through device evolution: the action of browsing the content offer. It was also evolution: hardware and software are easier to use and the moment when the first, elementary but pioneering forms portable. This together with connectivity readiness Still under discussion: most credited approaches of ecommerce were made available to consumers. allowed the digital landscape to reach a wider audience states that WEB 4.0 is the linear evolution of semantic Tech enhancement through web 1.0 allowed an increase in thanks every day web through its Artificial Intelligence (AI) potential and Big Data availability. This includes technological content availability, in its formats and creative execution as developments such as Augmented or Virtual Reality well as access speed. (AR/VR) and Internet of Things (IoT). *The World Wide Web: Past, Present and Future Tim Berners-Lee - 1996 ADV Industry and Models 164