Transforming your TV strategy is a must to survive in today’s new normal. While cord-cutting was expected to grow significantly in the coming years, no one could’ve predicted the surge that resulted from coronavirus (COVID-19). According to recent research from market research company GlobalWebIndex, 37% of consumers are watching more streaming TV since the outbreak started, and two-thirds of those streaming are planning to continue the habit. To be where your audience watches and to reach more customers who matter to you, now’s the time to move beyond linear TV and add advanced TV to your client’s media mix. We can help. Download our newly updated free Advanced TV Guide and quickly get the buzzwords, capabilities, spending trends and strategies you need to buy advanced TV. But first, what is advanced TV and the types available? Let’s learn all the definitions you need to know to activate a modern TV strategy during COVID-19 and beyond:
What Is Advanced TV?
This is the umbrella term that refers to several forms of streaming TV content, including connected TV, TV everywhere, video on demand (VOD) and programmatic TV. It’s the IAB’s catchall term for all forms of TV not watched through a broadcast, cable or satellite connection on a television.
- Connected TV – Ads that are served via over-the-top devices, smart TV apps and gaming consoles make this the most evolved inventory in the advanced TV ecosystem. It’s a great fit for any advertiser, given its broad reach and audience targeting capabilities.
- TV Everywhere – TV everywhere’s focus on login-required streaming apps created by TV networks means its audience tends to skew younger. It’s a good tactic for advertisers with click or activity goals since tracking is available on cookie-enabled devices.
- Video on Demand (VOD) – VOD ads are shown on a cable or satellite provider’s app when a consumer chooses to watch a show that previously aired. These ads complement your linear TV buy and extend your reach to audiences who might otherwise miss your message.
- Programmatic TV – Buy linear TV ads programmatically and serve them during live programming. With the largest scale, programmatic TV is perfect for brand awareness campaigns seeking national exposure. (Programmatic TV is also referred to as addressable linear if addressable targeting is layered onto the ad.)
Now that you’re well-versed in all the different types of advanced TV, you need to ask yourself if advanced TV is right for your clients’ campaigns. What if your clients are on the fence and need to be convinced? We’ve got you covered with our professionally designed advanced TV slides. This stat pack, newly updated in response to COVID-19, covers data on advanced TV’s audience and growth and the reasons why advanced TV should be part of your client’s media strategy.
According to eMarketer’s latest estimates, programmatic is on the rise with digital display advertising spending in the United States expected to come in at 32.56 billion, 78% of total digital display ad dollars in 2017 and then swell to 84% of the pie by 2019. More advertisers are becoming familiar with programmatic advertising and seeing its benefits, so how do you stay knowledgeable and stay ahead of the competition? Put your first-party data first. This is precisely what Goodway Group COO Jay Friedman recommends in this excerpt from eMarketer’s recently released report, “Advancing Programmatic Advertising: Buyers and Sellers Seek Greater Control Over Ad Campaigns and Audiences Reached”: “For 2017, what we’re pushing marketers toward is thinking about first-party data first,” said Jay Friedman, partner and COO at programmatic media buying and planning firm Goodway Group. “Starting with the question, ‘What data do I have?’ and then how do they use it and model it to create their own universe. From there, we’re asking them to focus on better identity management, which involves cross-device management and tying it to your first-party data.”
First-Party Data: What Is it?
- This is data you already own.
- It’s free, it’s accurate and it’s safe. It’s all the valuable information you’ve collected about your audience – your customers and prospects – such as contact info, behaviors, past actions and purchase history, from the following sources:
- your website
- your customer relationship management (CRM)
- your subscriptions
- your mobile web and apps
- your social media data
First-Party Data: How Can It Benefit You?
- First-party data is effective because it can automatically tell you who your “perfect fit” customers and prospects are.
- Since you already know who is interacting with your brand, what type of person is interested in or using your product or service, it takes the guesswork out of targeting.
- Instead of simply hoping you pick the right third-party segments, you can build look-alike models from your first-party data to accurately scale and extend your audience.
- You can segment your first-party data based on your unique business needs instead of relying on “off the shelf” third-party segments, which could end up being too broad and generic.
First-Party Data: How Can It Help You Succeed?
- When you use your first-party data to the fullest and then connect it to second-party data (just first-party data from another source) or any third-party data (aggregated data from an outside source), then you can see your audience holistically, from all angles.
- Data – owning, connecting and understanding it – is how you better connect with your target audience and win today.
- It can help you run programmatic advertising campaigns more efficiently and effectively and with greater success.
- It can help you get to know your target audience better so you can more precisely target, personalize messaging and foster deeper relationships with current and potential customers.
Harnessing data and running data-driven programmatic advertising campaigns are top priority at Goodway Group. If your clients are just getting started with programmatic, download our free programmatic slides or watch our programmatic 101 video to learn more. Or take your programmatic advertising to the next level, contact us today.
At the heart of Goodway is our people. And where there are people, there are inevitably special interests, passions and unique hobbies. Since April is National Volunteer Month, we wanted to share how giving back makes a difference by spotlighting some of the amazing corporate giving and volunteer programs Goodway offers to our employees and our community. Encouraging our employees to give back to those in need has been a part of the Goodway culture for over half a century. Our current corporate giving initiatives all started with the Milton Wolk Foundation created by Goodway’s founder in 1965, which supported a variety of charities. Then, as the leadership torch passed on to Beryl Wolk, “A Better World” was established in 1990 as part of our ongoing pursuit to support not-for-profits, social causes, start-ups, entrepreneurs and those in need on a national and global basis. Since then, our current president, Dave Wolk, has continued to cultivate that dream across the many communities our employees touch. So, it comes as no surprise that over the years, many of our employees have demonstrated compassion by personally volunteering at charity events, serving on nonprofit boards or donating their talents to organizations in their area. Still in recent years, we asked how we could do more to support this vision for stronger, healthier communities where we live and work through our official corporate giving programs. Inspired by the memory of Milton’s and Beryl’s unwavering commitment, we launched the expansion of Goodway Cares in 2016 to provide new ways for our team members to do good in every aspect of their lives. The key components of our Goodway Cares program are two-fold. First, we established Goodway Cares as a 501c3 charity that our employees can easily donate to through payroll deductions. These Goodway Cares funds are typically used to place ads supporting events and causes for worthwhile non-profit organizations across the country. Goodway matches these contributions up to $250 annually per employee. But we know passions come in all shapes and sizes, and our employees care about a wide range of social causes. Some love donating toys to shelter dogs, while others like to pick out the paint for murals in their city park. And if socializing with seniors is their thing, that’s great too! Goodway Cares makes it easy for our employees to choose the cause they are most passionate about. That’s why they can also opt to give money to a charity of their choice. As an added bonus, Goodway will also match these donations up to $250 annually per employee. The second part of our Goodway Cares program is an in-kind donation of our services and expertise to organizations in need. As a successful, family-owned business, we understand the challenges of starting an organization from nothing. That’s why we let a dedicated group of our employees lend their skills, time and talents to help budding non-profits with everything from how to implement agile processes, to effectively managing remote workforces to digital media training. How has giving back through Goodway Cares made a difference in our communities? Here are just a handful of the 100+ organizations that have been impacted by Goodway Cares match and corporate giving programs in the past year: The best is yet to come. If you’re a non-profit organization or small business owner that needs help navigating the digital landscape, or you’re just looking for business advice to take your passions to the next level, we are here to help. Contact our Goodway Cares team at email@example.com to learn more. Or if you are as excited as we are to take social responsibility to the next level and want to work for a company dedicated to strengthening our impact on our community, search our current job listings and apply today. Then, share how giving back makes a difference for you during National Volunteer Month on Twitter, Facebook and LinkedIn with #GoodwayCares.
Advanced TV is shaking up how we buy TV advertising today, making the TV landscape more complex and difficult to navigate. But that’s a good thing for marketers due to the benefits it offers: greater flexibility; robust data; and better measurement and reporting that can lead to deeper insights and improved results. In this Huffington Post article, Goodway Group’s COO, Jay Friedman, explains advanced TV and why it holds such promise. Note: This same byline also appeared on Advertising Week’s AW360 blog today.
Header bidding is increasing the number of impressions per second ad exchanges must send and demand-side platforms (DSPs) must evaluate. So much so, both the buy and sell sides are feeling the pressure to keep up as they grapple with how to handle this massive volume and its associated rising costs. Is buying more server capacity to handle the data the answer, or simply processing fewer impressions? Which decision is going to keep them afloat? Jay Friedman, Goodway Group’s COO, gives his perspective in this AdExchanger article.
Adobe. Oracle. Salesforce. How can marketers tell these ad-tech-gobbling cloud companies apart? This helpful Digiday article will explain how the giants stack up, but Jay Friedman, Goodway Group’s COO, has a clear favorite.
Oracle announced it’s buying ad verification company Moat, so its data capabilities will soon grow. In this MarTech Today article, Goodway Group COO Jay Friedman thinks the deal will make Oracle smarter, too, about who is using their data, who could use more, and where advertisers are getting users they wanted anyway without paying for the data.
With the acquisition of Moat, an independent third-party measurement and tracking company, Oracle now will be able to provide brands and marketers with all types of targeting and measurement solutions to improve every type of digital advertising campaign. Hear Group COO Jay Friedman weigh in on why he feels this acquisition is such a smart move in this MediaPost article.
How often do you use your phone or tablet throughout the day for more than calls, texts or surfing the internet? Chances are, you’ve already used it to access at least one mobile app today — whether it was checking your coffee shop reward points while at the barista counter, finding directions to a client’s office on the go or playing the latest version of Candy Crush Saga from your couch. With over 2.75 billion* apps downloaded to tablets and mobile phones to date, it should come as no surprise that people spend an average of 4.7 hours per day** with them. Yet, even as apps become an integral part of our daily lives, marketers are challenged with finding the right mobile app strategy for identifying and acquiring new users in those “I want to know,” “where do I go” and “how do I buy” moments. In today’s flooded app market, how can marketers really drive app discovery, motivate users to download and maintain user engagement?
Don’t Roll the Dice on Your App
As app stores become increasingly crowded, it’s more important than ever for marketers to cut through the noise and win consumer attention. Go the distance to understand the full life cycle of your app users, from how they found you to installation to how often they log in. Building the right mobile app strategy to keep them coming back starts here. Getting Started & Set Up:
- Does your app offer functions beyond those already on your website?
- Is it useful for a wide range of users?
Rules of Play:
- Are you leveraging a search or programmatic ad campaign?
- Is your Software Development Kit (SDK) tracking integrated with your ad campaign?
- Are you using a CPM pricing model?
How to Win:
- Does your app simplify your users’ lives?
- Have users continued to log into your app over and over again?
Goodway Group Expert Tips
- Remember, the right digital advertising strategy may complement your offline specials, drive ecommerce and build brand loyalty more effectively than an app.
- Measuring ad clicks that only deliver users to the app store doesn’t mean an install actually happened. We recommend using properly integrated SDKs to optimize toward actual app opens or an in-app action, like a confirmed login, purchase or other downstream event.
- A re-engagement ad campaign can find those users who haven’t opened the app in 90 days, help remind them why your app makes their life easier and get them back to using it regularly with a unique incentive campaign, such as a discount toward a purchase, exclusive deal or bonus content.
Stuck in the Setup Phase?
It might be time to rethink your app’s value proposition. Rather than an app, consider using your website, email-nurturing campaigns, in-store experiences or social promotions to target specific users in limited locations.
Don’t forget to follow the rules, or you might lose a turn!
Advance to the corner of acumen and ingenuity — it’s time to take advantage of your audience insights to further expand your user base with a best-in-class mobile app strategy. Start by boosting your app’s visibility and targeting users with ads while they are doing other things on their smartphones. Be there when they are on the move and looking for you with targeted banner ads and search campaigns that drive app awareness and downloads. But be cautious of those trying to trade an ultralow cost-per-install (CPI) for higher app store rankings. CPI campaigns often bring in low-quality traffic with extra incentives, like free in-game rewards, but once the incentive is paid out, users quickly delete the app.
Are Others Landing on your Mobile Real Estate Over and Over Again?
Victory is yours! You’re well on your way to a successful mobile app strategy. Remember, it’s pretty common for users to abandon or delete an app over time. According to eMarketer, app retention drops to 6% after just 30 days.*** Ensure your app serves a specific purpose and provides value well past the initial download.
*eMarketer, US Mobile App Store Downloads, Android vs IOS, Q3 2015 & Q3 2016 **Informate Mobile Intelligence, The International Smartphone Mobility Report ***eMarketer, Average App Retention Rates Over the First 90 Days of Use Among Mobile App Users Worldwide, by OS, Nov 2015-March 2016
Could Google’s and Facebook’s duopoly soon be coming to an end? With the rise of Amazon among others now emerging and competing for digital advertising dollars, the digital media industry continues to fragment and grow in complexity. So this soon could be the case. But in his recent AdExchanger “Data-Driven Thinking” column, Goodway Group COO Jay Friedman shares how agencies can see these recent developments as opportunities and how they can take control and benefit.