Cutting the cord is not new, it’s just getting more popular as companies such as Netflix and Hulu, which have each been around for more than a decade, continue to rise. But as consumers continue ditching traditional broadcasting platforms with more frequency, brands are being forced to find new ways to reach their audience, and one way they are doing that is through connected media devices and CTV. Unlike traditional broadcasting platforms, which offer a limited amount of commercial inventory per show, CTV is providing brands more flexibility and thus, more opportunity.
“When you think about what’s possible in this new digitized version of TV, and when you think about the fact that more and more consumers are cutting the cord, it allows you to secure more reach than ever has been available before through connected television and online video inventory, but it allows you to be more specific and targeted in how you buy that connected inventory.”
But how brands distribute to platforms and reach their target audience is the challenging part. Stephanie Geno, the Senior Vice President of Marketing at Innovid, is here to help. Innovid is an online advertising technology company that offers distribution and management of digital ads and on this episode of Marketing Trends, Stephanie dives into how the company is harnessing CTV to change the ad game. Plus, she discusses best practices for targeted advertising, and why personalization is a great tool, if you can get past its downsides.
- Cord Cutters: More and more consumers are shifting their viewing habits from relying on traditional broadcast and cable companies to subscribing to streaming services. And while this is not shocking, what is surprising marketers is the amount of inventory and targeted advertising that is available to them through connected tv and the smart marketers are putting that inventory to work for them.
- Universal Metrics: There is a growing need to create a universal metric system that allows marketers to have a baseline of comparison across various forms of digital marketing. Advertisers need to think in terms of both macro and micro effectiveness across their ad buys, and they need to optimize both.
- Personalized to My Needs: Personalization creates greater relevance for marketers, but it’s also creating a greater ability to be agile. However, it does not come without its pitfalls. When one-to-one personalization entered the market, it set off a chain reaction of overly-complicated strategies and forced marketers to overthink things. Personalization tactics should be used as a tool to broaden your reach, but also to help marketers extend their creative efficiency, with the ability to test, learn and optimize their practices.
“If TV and video are a central part of your strategy, you want to work with a platform that excels there because frankly that’s what matters most for your business.”
“When you think about what’s possible in this new digitized version of TV, and when you think about the fact that more and more consumers are cutting the cord, shifting to connected, it allows you to secure more reach than ever has been available before through connected television and online video inventory, but it allows you to be more specific and targeted in how you buy that connected inventory.”
“Another big value of TV becoming more addressable is starting to tap into a lot of the great work and progress we’ve seen as it relates to creativity and personalization being translated to the big screen.”
“What we saw was that as people were no longer allowed to go out into the market, and no longer allowed to really leave their homes, there was a huge increase and a huge spike in content consumption. The majority of that was shifting into connected and what really drove the growth in connected television was you combining that isolation, and being forced to stay at home, with the fact that unemployment rates were higher than they’d been in decades. There was the need for people to be more thoughtful about how they were spending their money. A lot of people at that time took a look at their personal household expenses and said, ‘Hey, I’m paying hundreds of dollars a month for a linear TV subscription. Now is the time for me to cut the cord. So not only were more people watching TV, but we saw more people migrating the TV that they were watching through broadcast and cable and switching to watching that same content through a streaming provider.”
“Everyone is gravitating toward the streaming universe right now. There’s a lot of buzz. There’s a lot of conversation in the marketplace about the streaming wars. We’re starting to see traditional big media partners move more and more aggressively into this space. We’re now in a scenario where consumers have multiple subscriptions, and it creates complexity, and that the marketplace has been bemoaning the challenges of walled gardens for years. Now we’re seeing an increasing number of new walled gardens popping up within the CTV universe and now TV is migrating over to this new universe.”
“How do you create a universal metric that allows you to have a baseline of comparison across all of these disparate systems? As an advertiser [you have] to think about macro effectiveness and macro efficiency across your buys and optimize accordingly because we still live in a universe where dollars and budgets are finite.”
“It’s about looking at the combination of reach and frequency, and understanding what partners and what publishers are driving what, and then using that detailed analysis and that detailed understanding to go back and reconfigure your buys moving forward.”
“Personalization creates greater relevance, but it also creates greater agility in terms of your ability to manage and optimize your messages. This became really critical, and it became a more important part of the strategy for many brands in the height of COVID.”
“When the idea of one-to-one personalization entered the market, it set off this chain reaction of just overly complicated strategies. Marketers were scrambling to map out the perfect combination of message, data and strategy to create these hyper relevant experiences at the individual level.”
Stephanie Geno is the Senior Vice President of Marketing at Innovid, the world’s leading video marketing platform, where she oversees the company’s global integrated marketing and communications efforts. She is passionate about helping brands excel in today’s data-driven marketplace, and utilizes her unique balance of strategic planning, partnership marketing and technical depth to help tell the stories of some of the most recognizable brands across the globe.
Stephanie previously co-founded and served as Partner, Head of Accounts at Transparent, a marketing automation consultancy, where she led the digital marketing enablement consulting practice. Prior to joining Transparent, Stephanie was Senior Vice President at Starcom MediaVest Group, where she drove clients’ communications and media strategies and designed high-impact consumer experiences for the media agency’s network as part of the Digital Center of Excellence team. She began her marketing career at Performics, where she designed optimization products that focused on user experience, content management, and SEO.
Stephanie currently serves on the Executive Committee of the American Advertising Federation’s Board of Directors and is an advocate for promoting women and the next generation of marketers. She is the co-lead for the Denver chapter of mBolden, an organization championing women in leadership in the mobile, digital, and tech industries. She has also served as a board member, event chair, and mentor for Chicago HOPE, a non-profit providing four-year financial scholarships and mentoring to low-income students with the dream to graduate college.
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To read an unedited, automatically-generated transcript of this interview, click here.