Companies can struggle to find ad tech talent locally who truly understand programmatic plus have expertise in media planning. Goodway Group COO, Jay Friedman, shares his thoughts on why in this Digiday article.
The fact that the digital landscape has changed everything in the way that consumers find a brand, research their options and choose to buy (or not buy) products isn’t debatable – and you know that. But since this shift in consumer behavior has happened, have your clients really taken the time to ensure their media strategy has kept up to date? Are your clients still unsure about adding programmatic media to their marketing mix? They’re not alone — over two-thirds of CMOs do not totally understand programmatic advertising or how to apply it to their marketing campaigns. Programmatic media can seem intimidating, with all of the jargon, acronyms and new-wave ad tech companies. But what if you had a more compelling way to show how they can reach today’s consumers with programmatic? Downloading Goodway Group’s professionally designed Programmatic 101 presentation deck is a great place to start. Goodway knows describing how programmatic works isn’t easy, which makes justifying why advertisers should invest in programmatic media even more complicated. Give your client presentations a visual makeover with these 10 beautiful programmatic slides, specifically designed to help agencies have more impactful conversations about programmatic on a practical level. The easy-to-download programmatic slides deliver keen insights on how marketers can tap into the new consumer journey through effective, professional-looking graphics and content. Redefine their expectations of what programmatic can offer. Download the free Programmatic 101 slides today.
For independent agencies working with small and mid-sized clients, choosing a digital ad partner can be a tough nut to crack. In-house buyers and digital marketers have to keep up with constantly changing technology in order to know how to optimize their ad presence for the greatest impact — and then, they have to spend valuable time comparing stand-alone reports and analytics to share those results with the client! At some point, you realized you needed more . . . more time . . . more expertise . . . more value-add from a partner who gets it. An RFP probably got plenty of vendors knocking on your door with slick brochures and colorful slide decks, but how do you know which one is the right partner for your company? After the umpteenth proposal, are they are all starting to sound the same? Before you let the next potential partner leave your conference room, consider asking a few questions that get at the heart of how they are different. Cut through the noise and get to what really matters in choosing a digital ad partner, with these five questions you may not have thought to ask before:
1. Are they staffed appropriately to support your business?
Integrating all of your systems and data to work together efficiently is not simple — let alone the day-to-day research, reporting, optimization and account management that’s necessary to keep your clients happy. You’ve already found out you need more than a one-person show running your campaigns behind the curtain. So when choosing a digital ad partner, don’t forget to ask what their support-to-client ratio is to get an idea of the breadth of expertise that will actually be available to your agency. Ask how many years’ experience their average trader has for a quick over/under comparison between vendors. Inquire about who specifically will be dedicated to your business. Then, follow up to find out how many other agencies that team is supporting. You’ll quickly discover if they’re staffed to meet your needs or if it’s all smoke and mirrors.
2. What is their value-add beyond running media?
Every client campaign is unique, right? So you need more than a one-size-fits-all solution. What can they give you that everyone else can’t? Perhaps, they are analytics superstars, giving you real-time insights and custom dashboards that integrate all of your data sources into a single digestible report. Maybe, they are your research hub to access leading tools, like eMarketer, comScore and Pathmatics, that you couldn’t otherwise afford. Or it’s possible they have a proprietary technology that enhances targeting optimization or provides additional fraud protection. Whatever is in their secret sauce, find out what makes them exceptional.
3. How do they source their inventory?
Start by uncovering if they buy from the open marketplace auction, are connected with a particular ad network, utilize a specific DSP or multiple DSPs and/or leverage private marketplace packages. It’s important to understand where their inventory is coming from to gauge if it is high-quality or discount bin rejects. Basically, are they thinking in terms of quantity and quality when it comes to your ad buys? Accessing premium publishers that give you more placements with proven viewability performance is step one. Working with a partner who also has the buying power to get more out of every dollar you spend is step two.
4. How do they know which campaign elements had the greatest impact on conversion?
In a constantly changing advertising landscape, every campaign element plays a role in today’s path to conversion. Yet, most ad tech platforms focus only on the last interaction a user had with an ad before converting, which gives disproportionate credit to sites like email clients, where users visit throughout the day, and ignores all other sites that a user visited before converting. One of the most important aspects of choosing a digital ad partner is their ability to test, learn and apply the lessons on a continuous basis. A full path attribution model analyzes all impressions that lead to the conversion so traders can make more informed optimization decisions throughout the entire life cycle of your campaign.
5. Are they a good cultural fit?
Of course, you need to make sure their business model is sustainable. Because who wants to partner with a company that won’t be around next year? If they are independent, find out how they are able to adapt to the ever-evolving ad tech scene. What technologies are they investing in today to respond to your clients’ needs tomorrow? If they are venture-capital funded or a public company, check out if they are performing well, with plenty of funding to run the business in the months to come. Are their shareholders/stakeholders satisfied? If the answer is no, beware as their immediate focus will be on driving revenue at the expense of servicing the business. Beyond the numbers, do they demonstrate similar passion, values and principles as your own? Are they willing to do the right thing for your clients no matter what, without pressure from shareholders, stock analysts or ivory tower egos? Be sure to learn more about how their culture will help you and your clients succeed before choosing a digital ad partner. Programmatic can be easy with the right partner. Good luck in your search and contact us today if you want learn what makes Goodway different.
As a result of Goodway Group being named a Glassdoor Employees’ Choice Best Places to Work, Hubworks recently asked COO Jay Friedman for his suggestion to keep employees engaged. His response? Ensure employees’ voices are heard. He said, “We have a policy at Goodway: Any employee can submit anonymous feedback and expect a response from the most appropriate person (or a named individual if they specifically request that) provided two criteria are met: 1) No hate or vitriol, and 2) include your own reasonable suggestion on how to change what you’re writing about.”
Digital advertising costs are going up. Fast. If you haven’t felt it yet, you might want to check under the hood. When we strip away all the bots and fake sites, supply plummets. At the same time, virtually every advertiser now prioritizes digital in their buy, so demand has skyrocketed. Economics 101 declares that the free market is going to tack on an extra digit to those CPMs because supply certainly is not unlimited, and there are 20 other companies who are chasing that exact same impression. You get what you pay for, and advertisers are wising up to the efficacy of targeting specific audiences with high lifetime value. It’s important this trend is observed, internalized, and accepted. Those who fail to do so will be throwing their advertising dollars right out the window; those who successfully adjust will observe a tangible and measureable impact on their digital advertising costs. What’s more, with advances in measurement technologies, we are now able to precisely parse recent online behaviors: the likelihood a consumer will have an affinity for a brand, whether an ad was seen, how long the ad was viewed, whether a site’s traffic is human and the list goes on. But these advances come at a cost. While we can’t make prices go down, what we can do is help you to understand why this is happening in even more detail. Click here for free access to What’s Programmatic Costing You: An Insider’s Guide to Understanding the Rising Costs of Programmatic Advertising. As we head into the new year and continue to keep an eye on the above-mentioned circumstances around digital advertising costs, there is yet another recent game changer: header bidding. Think of header bidding as a pre-auction in advance of inventory entering the open market so more players can participate in the “main event.” More competition is better for everyone, right? Well, yes. And no. In an ideal setup, it improves forecasting, allows for access to every single impression and creates an even more level playing field for buyers. As it currently stands, however, some DSPs are unable to discern between a “header bid request” and an “open market request,” meaning win rates will plummet due to inability to precisely ascribe value to an impression. Unless you know exactly what an impression is worth to you, it’s spaghetti on the wall, and the wall is coated in oil. Hopefully, 2017 will see a reconciliation between technologies and automated communication, but it remains a challenge in the meantime. As we’ve learned, digital is changing at a breakneck pace, and none of it is straightforward. Fortunately, Goodway Group has experts observing the minutiae and responding with nimble, calculated moves to keep our clients ahead of the curve. While 2016 was a year of changes and 2017 will undoubtedly bring a few unexpected turns as well, we know our clients will continue to benefit from our full attention. Contact us today to redefine your expectations of what 2017 can offer. Digital State of the Union Series Digital State of the Union: The Rising Threat of Ad Blockers Digital State of the Union: From Personalization to Personal Assistants Digital State of the Union: Content Marketing Digital State of the Union: Streaming Digital
With new innovations and frequent disruptions in the digital media business occurring about every six months, marketers have to not only be comfortable with change but also be able to constantly adapt to hit their goals. In this iMedia Connection article, Jay Friedman, COO of Goodway Group, explains how media buying strategies and tactics will likely change in 2017.
When Goodway Group COO Jay Friedman was asked about marketers’ biggest challenges for 2017, he stressed the importance of waiting for the big picture to emerge. He said we have a lot of data pieces now available that will ultimately unlock how we value ad inventory data and the return it generates, but the true breakthrough likely won’t come until 2018.
Streaming digital killed the TV star. No longer do we live in an era when we’ll wait for content at a scheduled time. As of 2016, television has officially taken a backseat to streaming digital. And with that shift comes not only a growing number of cord-cutters but an amassed population of cord-nevers. The U.S. population wants video content, and they want it at any time, all the time. Enter video on demand, over-the-top, connected TV, YouTube and Netflix. Consumers spend anywhere from 1 to 3 hours each day with streaming digital video (mobile leads the channel charge when you combine smartphone and tablet minutes), leaving a prime opportunity for tech-savvy advertisers, according to eMarketer: It has also been widely observed that simply recycling a television ad online will not cut it anymore. More short-form video is consumed than long-form, giving as seamless and uninterrupted of an experience as possible between users and their content. Yet, consumers still crave immersive experiences that connect them to and with a particular brand. It’s a delicate balancing act that few marketers have mastered. Pre-recorded content aside, an ever-increasing trend of live-streaming videos is taking place and will continue to blossom well into 2017. Brands that utilize this newer channel will continue to receive more engagement from and prioritization among feeds of subscribers. Facebook, YouTube, Twitter and (of course) Snapchat will all continue pushing this platform as we head into the future of perpetual connectivity and consumption. The key for brands and advertisers, however, will mirror SEO and blogging best practices: iteration, precision and consistency will garner the greatest prioritization as well as response. For more, close out your week tomorrow with our final Digital State of the Union post on programmatic pricing and header bidding. Digital State of the Union Series Digital State of the Union: The Rising Threat of Ad Blockers Digital State of the Union: From Personalization to Personal Assistants Digital State of the Union: Content Marketing Digital State of the Union: Digital Advertising Costs
When MKTGinsight set out to discover what CMOs need to lead a digital transformation in marketing and across the broader organization, they interviewed industry insiders, among them, Goodway Group COO Jay Friedman. Jay suggested CMOs define clear KPIs with the CEO/board and build brilliant functioning teams to get expertise in every area of marketing, not just digital. He also said gaining the ability to “map,” being able to take disparate concepts from all teams and then put them together in such a way to see the big picture is essential.
When it comes to content marketing, it’s not what you say but how you say it. In 2016, advertisers amplified their efforts in responding to increased consumer desire for valuable content that provides free and useful information in exchange for eyeballs. Helping to solve a problem that an audience is trying to solve provides advertisers with the opportunity to become a trusted go-to source in the field. And once established, the relationship can quickly go from a one-time transaction to a lifetime of brand advocacy. With consumer attention spans thought to be limited to eight seconds, the key challenge has been providing informative content in a quickly digestible format, such as 15-second instructional videos or infographics. A thoughtful piece of content promoted correctly – whether in the form of native advertising, social promotions, email distribution or forum participation — can drive the right customers to convert. According to B2B marketers in particular, 63% recognize content marketing as having the greatest impact on their business. Looking ahead to 2017, top-notch content marketing will be expected and will flood the digital space as the next way to break through the clutter. One way that marketers will emerge victorious in their efforts is by way of influencer marketing. Influencer marketing leverages the assistance of social media and key individuals (YouTubers, Instagrammers, Snapchatters, bloggers, etc.) who have a strong impact on a target audience to promote products. The end consumer is influenced by these opinions and thought leadership, increasing both awareness and favorability. Looking for other great ways to make an impact in 2017? More to come on digital video best practices in our next Digital State of the Union post. Digital State of the Union Series Digital State of the Union: The Rising Threat of Ad Blockers Digital State of the Union: From Personalization to Personal Assistants Digital State of the Union: Streaming Digital Digital State of the Union: Digital Advertising Costs