Attracting Brand Ad Dollars: First, Take a Deep Breath - Leo Scullin
Published: March 9, 2011 at 04:30 AM GMT
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Last Updated: March 8, 2011 at 04:30 AM GMT
By Leo Scullin
Slow down you move too fast…
The pace of change in digital advertising is so dynamic that it takes all of one’s effort to just keep up. It is hard to see the forest for the trees here, as every new service provider in every new segment just adds density to the landscape. Brand marketers want to embrace this exciting market but the current ecosystem is confusing and off-putting. Well, take a deep breath and consider this: the digital advertising industry needs to help brand marketers grasp the realities of the digital advertising space with clear, simple and generally accepted market perspectives, including how price discovery and order fulfillment really work, and better planning tools so clients can see how digital opportunities are relevant to their brand objectives.
During the month of January 2011, and in review of all the market buzz of 2010, the author interviewed a coterie of thought leaders and expert practitioners in the digital advertising arena to test the following thesis:
Better industry tools, such as an industry cost database (ICD), could add valuable insight, reduce friction, potentially reduce costs, improve the planning process and offer traditional brand marketers an unobstructed bridge into the digital advertising market.
From our experts we learned a lot and confirmed much of what the market has come to accept, for good or bad, about the realities of this complex ecosystem.
The bottom line: the digital advertising industry is at a juncture where even more progress can be made with more brand marketers, but there is a lot work to do. This is not the “Wild West” nor is it run by a “black box.” These perceptions only increase the resistance threshold. The industry needs to leverage the fine work done by the Interactive Advertising Bureau (IAB), Bain, Jordan Edmiston Group (JEGI), LUMA Partners LLC and many others, and create and support industry tools that allow for better planning, buying and selling. There is a need to shift the focus of brand marketers to the realities and opportunities of digital display advertising. It is time to start with a clear view of the market and then assess the key challenges and how to address them.
The implications for positive change driven by more widespread support for an industry cost database, and a more thorough analysis of the expanded view of the market (above) are the focal point of the next few posts on this subject.
Leo Scullin is a Partner at Arkose Consulting LLC of New York, a firm that offers strategic, tactical and management guidance to clients seeking to leverage their interactive marketing investments and initiatives. He has extensive experience in internet professional services, as well as deep expertise in launching and positioning online and traditional media. firstname.lastname@example.org
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