Published on March 22, 2021
- Develop a script
- Find talent to record said script
- Record multiple variations of the script for targeting and personalization
- Serve the audio based on many different parameters, across any media platform
- Track delivery, plays, interactions, and clicks on companion banners
- Aggregate measurement within one platform, instead of each media platform
- Optimize creative assets, rinse and repeat
- Lower your overall CPM and expand reach by working with multiple networks
This week’s spotlight is on Frequency. They are focused on helping brands personalize and scale their audio advertising efforts. By the end of this year, 60% of the U.S. population will have listened to streaming audio content of some sort. Ad spending will be approaching $1 Billion.
At Cogent, we tend to like technology that takes something old and makes it better. Collectively, we did this with broadcast.com in 90’s, Criteo in 2010, and PebblePost in 2016. Although terrestrial radio still reaches 92% of our population, streaming audio allows for advanced targeting and podcasts reach the most highly engaged audiences. Executing campaigns across these technologies and the various platforms within each can be a bit challenging unless you have the right partner, Frequency.
There are digitally native platforms across this field such as Spotify, Pandora, and Stitcher. There are more known names such as iHeart, Entercom, and NPR. Although some of these platforms make it easy to execute campaigns with them, it is much more difficult and time consuming to execute a campaign across multiple platforms, especially if you want consistency in your messaging or want to execute sequential messaging. This is where Frequency comes in.
Frequency’s focus is on personalized creative development, ad delivery, and measurement. You can continue to buy your media directly from any number of vendors while using Frequency’s platform.
81% of media agencies used streaming digital audio advertising
IAB Australia’s latest Advertising Audio State of the Nation Report Wave 5, presented at its Audio Summit today, reported that 81% of media agencies used streaming digital audio advertising. That includes Spotify, SoundCloud, iHeartRadio, Live Radio apps, and more.
The report also found that 69% of media agencies reported streaming digital audio advertising is now a significant or regular part of their activity and, 36% use podcast advertising regularly.
As a result, just 56% of agencies are planning and buying digital audio collaboratively with digital display activity, while 53% planning and buying in combination with digital video activity.
A Cogent Thought:
Agencies are leading the way on behalf of brands.
Their focus tends to be on the larger publishers with higher CPM’s.
Brands and agencies need to better understand the landscape if they want to get ahead of their competition and have good experiences within the channel.
There seems to be some fear of failure that is holding the industry back.
Brands need to adopt this evolving medium if they want to meet consumers where they are spending time.
Terrestrial radio buyers can save loads of time and effort by utilizing digital audio channels.
A Cogent Thought:
Although fingerprinting will be difficult for Apple to police, it is not an accurate enough tactic to replace current tracking technologies.
Targeting and performance are not necessary for header bidding to remain.
Poor performing ads as a result of ATT will lead to a budget exodus from mobile advertising.
Ad networks and advertisers will have to get creative when it comes to measurement and attribution for optimization.
Here are 5 common Apple privacy crackdown myths, debunked for concerned marketers
Preparing for Apple’s crackdown on companies tracking its customers is perplexing enough, but a whole load of myths can get in the way too. Some of those myths might even seem instinctively plausible and trip up many marketers.
In particular, these five common misconceptions about restrictions on tracking people on Apple devices bewilder even seasoned mobile marketers.
- Myth: Fingerprinting is a sustainable workaround
- Myth: IDFA will be the death knell for header bidding on mobile
- Myth: The predicted dip in ad prices caused by blunt targeting will allow opportunistic advertisers to spend more
- Myth: Publishers are only at risk from how data is shared from their app
- Myth: Attribution and optimization begin and ends with SKADNetwork
Emerging Identifiers For Digital Advertising: Are Brands Really Prepared?
Advertisers and publishers are bracing for upheaval as two major identifiers commonly used for audience-based targeting are set to go away. But are marketers really prepared for the change?
Putting aside the China affair, Apple’s IDFA restrictions could be phased in as soon as this week, while third-party cookies in Chrome will be phased out by early next year.
That means it’s imperative for marketers to fundamentally rethink their audience strategies ahead of the looming changes, said Nicole Perrin, a principal analyst at eMarketer, speaking at AdExchanger’s Innovation Labs: Identity Day event on Tuesday.
A Cogent Thought:
Only 40% of Marketers are prepared for privacy laws and changes to third-party identifiers
“Publishers and ad tech vendors are far more dependent on solving these issues for their survival, whereas brands will survive even if their marketing becomes somewhat less efficient,”
Contextual targeting could be a better option than cohort-based targeting, this won’t favor Google…
Brands need to take control of their own destiny and not wait for adTech or publishers to solve these issues.
A Cogent Thought:
Personalized experiences need to travel from ads to onsite experiences to ongoing communication.
Brands need to understand consumer intent before they can fully understand their needs.
A brands 1st party data is what makes them unique and competitive.
Retailers need to know what their customers want, before they arrive at their site or store.
Personalization can increase your incrementals sales but you need to measure it to fully understand the drivers.
TV and video advertisers need to test their messaging before spending media dollars to ensure their ads resonate with their target audience.
Give your customers the experience they deserve
Although customer experience (CX) has been championed as the new silver bullet, many companies still struggle to understand what customers want and how to deliver valuable experiences, at scale. Unless you’re able to close the gap, relationships with your customers will continue to crumble.
To earn their trust, brands need to have ongoing conversations with their customers, instead of talking at them. That means being agile, anticipating needs, and pro-actively delivering personalized experiences across channels. Get it wrong, and you’ll continue to push customers further away. But get it right and you’ll earn the right to have another conversation, and expand your relationship.
A handful of platforms have introduced their IDs as persistent identifiers in place of the third-party cookie; and some, such as Verizon Media’s ConnectID, are interoperable, translating IDs from partners like Acxiom, Experian and Epsilon. While these IDs will allow marketers to deliver addressable and audience-targeted budgets, the universe of users available tomorrow may be a fraction of what it is today because of low user logins. As legacy web/display publishers scramble to figure out ways to identify their traffic, the same cookie and ID suppression issue will soon befall connected TV (CTV), OTT, audio and in-app publishers, as well. No one is immune—so what are advertisers and publishers to do?
- Customers need to feel cared for.
- Adapt as needs change.
- Proactively provide relevant information.
- Customize to the current situation.
- Consistent and connected across channels.
Podcast of the Week
The Ad Platform: How Mindshare approaches experimentation and data ethics in advertising
Legal doesn’t equal ethical.
Regulations are behind where brands need to be but they will catch up.
Consumers aren’t thinking about privacy as much as the industry is.
Cookie pop-ups have become more annoying than useful.
Consumers will need to be better educated if we expect them to participate in the data sharing process.
Consent and permission will become a form of currency.
Brands need to run pre/post experiments now to understand the post IDFA and cookie impact.
Mixed Media Modeling is making a comeback but brands will need to adjust and calibrate more frequently than yearly.
MTA has too many blind spots which will continue to worsen with a lack of cookie syncing.
Cross-channel attribution will take center stage with Incrementality Testing leading the way.
Incrementality testing will need to be rigorous and consistent.
Brands will need the right partners and data scientists to perform these test accurately.
Incrementality testing needs to be run without bias, meaning 3rd parties without an interest in the outcome.
Testing needs to be aligned with strategy and owned by a key brand stakeholder that can ensure testing is accurately executed with data scientists and not in a vacuum.
Statistically representative panels can serve brands in user level testing to build synthetic populations in an effort to run scenarios and simulations.
@Off Lease Only
This week we would like to take the time to congratulate both Melissa Anido and Sean Popen. They both recently joined Off Lease Only as the Head of Performance Marketing and CMO, respectively. Since our founding, they were both Cogent Collective members. We appreciate their participation and wish them all the best in their new roles!
Head of Performance Marketing
@Off Lease Only
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