In Part 1 of this blog series, we revealed how consumers are viewing more video in a post COVID-19 era, and in Part 2, we looked at some of the many challenges that marketers face in the advanced TV space, including omnichannel buys, data inconsistency, fragmentation, and ongoing content wars.
So how do marketers solve for these challenges? Marketers can choose a persistent and all-inclusive audience data taxonomy with an established, accredited methodology. This “truth-set” of data will provide a way to validate and create consistency before targeting different types of TV channels, enabling a path to constant quality across media. As outlined in Part 2’s presentation by MRI-Simmons, Clypd, and Acxiom at the ARF, an approach to compare targeting data variance would help the marketer reduce media waste and better tell their story to the intended audience.
Important here is to find truth-set data with a single-source taxonomy that covers broad use cases, because this can accommodate different campaigns that the marketer would need at different times. Also, if the marketer uses other 3rd party data, or even its own 1st party data, they can append these data sets with this truth-set, thereby enriching profiles of these new audiences.
An example of best practices in audience-based TV buys was demonstrated at the most recent Media and Insights Conference. During the event, Larry Allen, then VP Ad Product Strategy at Warner Media, shared results of an audience-based audience strategy on one of their large-scale TV campaigns, using audiences from MRI for planning and targeting purposes.
In this video, Larry describes why they chose for their client an audience-based approach for a national campaign, allowing them to select half-hour TV increments that over-index on this target audience (in this example, “cereal buyers”). He also mentions how it was beneficial to use an audience-based TV strategy that started with the same data used to plan & analyze for ad targeting. Keeping this same audience across planning, targeting, and even attribution allowed Larry’s client an automatic feedback loop so that they could consistently improve on their audience for the greatest return on ad spend.
Savvy marketers like Larry’s clients, who need to make their ad dollars work harder than ever, will be able to use accelerating market dynamics in Advanced TV to position their companies to not only endure the current economic climate but come out stronger at the end of it.
To learn more about how MRI-Simmons can enable audience-based advanced TV buys, contact us today.