The media landscape continues to shift, with consumer expectations driving innovation and new players disrupting traditional ways of broadcasting. Modern consumers now also connect with brands at an average of four to six touchpoints and they migrate from traditional platforms to digital devices to generate deeper insights before they take the desired action1.
To survive in this increasingly technology-driven era, native broadcasters have no choice but to undergo a digital transformation, rethink their business models and embrace digital distribution as a new source of revenue.
The reality of the new broadcast marketplace
As much as this shift to digital created a much more complex marketing and advertising landscape, it also poses several advantages and creates synergies between traditional and digital advertising. For one, it is now possible for us to obtain information on our consumers and for example learn who they are, where they live, and what their preferences are.
This inspired new marketing and advertising approaches such as audience pool selection and hyper personalisation which in turn makes it possible for us to target our campaigns more appropriately and create messaging that appeals to our individual audiences. It also enables us to track campaign performance, monitor results and determine conversion rates and return on investment (ROI).
As a result, marketers and advertisers have increased their spend on digital channels in the belief that it is the best way to get in front of the right audiences. A study by Accenture which was commissioned by NBC Universal however found that television still generates superior brand-building ROI, that television has a significant enhancement, or ‘halo effect’ on the impact of digital channels and that it helps generate a multiplier effect when paired with other channels in the same publisher ecosystem2.
In addition, traditional ads create a higher level of trust, which compounds the success of efforts on digital platforms. The reason for this, is that digital advertising space can usually be bought anonymously, with a credit card. Traditional spots have high production costs and broadcasters typically require a credit rating before concluding an agreement with the advertiser. This means that you will almost never see fraudulent advertising on traditional media as the advertising costs are higher and the source is known.
Another knock-on effect of the digitised marketing and advertising platforms is that it has created a lot of ‘noise’, as people get inundated by content from all corners. Subsequently, some of the social media platforms have even created blocking software which enables consumers to block content from brands they no longer wish to see. In this ocean of online content, it is also becoming more and more difficult for brands to stand out from the ‘grey masses’.
No more space for silos; integrate marketing and advertising divisions
For broadcasters, the key to get ahead of their competitors and unlock optimal growth, lies in establishing exceptional capability to collate and interpret consumer data to gain a true, complete view of your customers. This will enable you to design the right campaign that consists of the right blend of traditional and digital marketing and advertising for optimal impact, at minimal budget.
It will also enable you to set yourself apart from your competitors through immersive experiences that deliver the right message to the right customer, at the right time and on the right platform. In addition, it will empower you to track your campaign performance in real time, and make the necessary adjustments timeously, to drive optimal business results.
Whilst this is the ideal, the reality is that most companies only have access to fragmented data that sits in marketing and advertising divisions that are operating in complete silos. Converging your marketing and advertising will not only help you counteract this issue, but it will also deliver several additional business benefits.
Reap the benefits as integration drives results for business
Ultimately, to captivate the attention of their audiences in a multichannel marketing and advertising environment, broadcasters need a unified source of accurate consumer profiles that are updated in real time, and that can be activated across traditional and digital channels, through a singular, intelligent and scalable system. Converging your marketing and advertising, will help you to accomplish exactly that.
Ways to integrate marketing and advertising:
Consolidate technology and capability
Marketing and advertising convergence can be achieved by consolidating the technology and capabilities with which these two business areas perform their respective functions into one marketing and advertising technology stack (MAD-tech).
The marketing department requires planning and campaign management tools to monitor and optimise their marketing campaigns, based on results and success, while the advertising sales department needs to utilise similar metrics for their clients.
Consolidate planning across all disciplines
To be successful in converging marketing and advertising on a single MAD-tech stack, requires a consolidated digital and traditional advertising and planning approach. This will ensure that the unique requirements and objectives of both functions are effectively achieved and utilised.
Advertising sales are i.e. more successful when it is driven by a fully integrated campaign strategy that leverages the unique proposition of all available media properties, audience pools and segments to reach the right combination of end users through the right media, at exactly the right time. The marketing department is dependent on these very same planning skills to create successful marketing campaigns.
Establish a singular data management platform (DMP)
A single DMP will substantially…
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Read the full article by Roman Magis, Principal Director: Video, Advertising and Content, Accenture in South Africa, as well as a host of other topical management articles written by professionals, consultants and academics in the April/May 2020 edition of BusinessBrief.
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