I had the pleasure of attending and speaking at MediaPost’s Spring 2024 TV & Video Insider Summit, which took place in Scottsdale, AZ from March 17th – 20th. Bringing together leaders from agencies, brands, and sellers, the event was all about diving deep into the latest trends and challenges shaping the video landscape. With the industry evolving at lightning speed, one thing became crystal clear: in order to break through the clutter, adaptation is the name of the game.
Here are the key themes & sentiments that were echoed throughout the summit.
- Continued fragmentation: Striking a delicate balance between generating awareness and avoiding message oversaturation or ad fatigue requires meticulous testing of both vendors and creative strategies to achieve optimal reach and frequency.
- The rise of Connected TV (CTV): Simulmedia’s Founder & Chairman, Dave Morgan, kicked off day one’s information session discussing the significant time spent with CTV. He went on to remind us that not all CTV is ad-supported, which means advertisers need to be strategic with the allocation of their video budgets. While CTV offers great potential for incremental reach, Linear TV still holds weight for quickly expanding your audience.
- Data-driven advertising: Thanks to advancements in analytics, advertisers are moving beyond traditional demographic targeting in Linear TV. They’re now able to leverage rich audience insights to make precise network and daypart selections. Plus, addressable advertising allows for hyper-targeted messaging at the household level, minimizing ad spend waste.
- Embracing a test-and-learn mentality: Innovation doesn’t have to mean taking huge risks. By formulating hypotheses, defining metrics, and systematically testing and analyzing results, advertisers can confidently refine their video strategies over time and establish benchmarks for continued improvement.
- Audience-centric storytelling: Crafting messages that resonate with your audience is key. Examples shared at the summit by David Corns, CMO at Opendoor, and Melissa Voeller, Head of Global Integrated Strategies at Gen, highlighted the power of tailored messaging that speaks directly to audience needs and aspirations.
- The rise of gaming: Beth Woodruff, Senior Director of Brand Strategy, Integration, Gaming & Innovation at Ally Bank has successfully added gaming to their overall video strategy. Through a partnership with Fortnite, Ally found a cost-effective and innovative way to boost brand favorability and guide consumers through the marketing funnel.
- Navigating political dynamics: Major political events/races heighten the demand for advertising. In political “hot” markets, early booking and strategic adjustments to placement (dayparts, flight weeks, etc.) are crucial. While CTV is not pre-emptible like Linear TV, securing inventory early is still a must.
- Sports broadcasting challenges: As a speaker & participant, my fellow marketing peers and I discussed the future of sports broadcasting, particularly considering the migration towards streaming platforms. As major sports leagues shift more games to streaming platforms, viewers may face increased costs to watch their favorite teams and advertisers will need to rethink their media plans. Sports are crucial to buying strategies, and we do not want to lose the ability to insert into local games or key matchups. Being forced to buy larger streaming packages could lead to waste and increased spending.
MediaPost’s TV & Video Insider Summit provided a wealth of insights and strategic imperatives for navigating the ever-changing landscape of television and video advertising. It’s clear that staying ahead in this dynamic environment requires constant adaptation and innovation.
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