October 27, 2021 Quigley Now + Next: The best of IAB Fall Marketplace
The Interactive Advertising Bureau (IAB) recently held its Fall Marketplace, designed to give marketers the latest insights on digital media. Because planning cycles are increasingly quarterly, and even monthly, the IAB felt that a second event was needed to supplement its conference in May.
Like other conferences we attended earlier in the year, the end of cookies and the ever-increasing media fragmentation were big subjects on everyone’s minds. While measurement and attribution were still matters of discussion (no clear winning solutions yet), the talk also turned to how these changes are shifting roles and responsibilities within agencies.
Media planners must think more like business planners.
Their role is not about trying to buy a client-defined audience as inexpensively as possible. With challenges to traditional ideas of measurement, and so many more possible channels, media teams must consider the full business dynamic to understand the audience and how to best reach them. This is something we’ve done at Quigley for quite some time, and we’ve found having a 360-degree view of the client’s business to be essential for developing highly effective ideas.
Agency creatives must think more like content creators.
They must keep in mind how audiences use channels, platforms, and devices—as well as what resonates on each. As third-party identifiers fall away, getting content right is more important than ever. The idea of the commercial is not dead, but it must more closely reflect the values of the audience and provide real entertainment value. At Quigley, we agree that content must continually evolve to be more relevant. We’re fortunate to have creatives who are passionate about using, understanding, and contributing to the platforms that are important to audiences— in fact, several of our people are even successful content creators on their own.
DEI continued to be a big focus of many sessions at the conference.
Echoing a theme addressed at IAB New Fronts in May, panelists were encouraged by how many brands are seeing DEI as a business priority. But they continued to caution that DEI should not be approached with a one-and-done philosophy. To be effective, initiatives need to be part of a longer-term investment and must play a role in planning and strategy. Panelists saw that positive changes in measurement are shifting the standards that have traditionally worked against smaller vendors. Similarly, brands and agencies are moving away from 180-day waiting periods for compensation, which has made it much easier for smaller media partners to survive. As markets increasingly become more diverse, we believe that continued investment in DEI initiatives will benefit both communities and brand goals.
Media companies shared new offerings and recent insights about their platforms.
Here were some of the most interesting presentations.
Facebook/Instagram appeared to be distancing themselves from TikTok and Snap and moving toward a more competitive stance with YouTube. They emphasized that users spend more than half the time on the platforms consuming video and that longer-form content is increasingly more popular. Facebook recommends that advertisers include instream ads on long-form content to increase the effectiveness of traditional short-form video ads. At Quigley, we agree on the importance of video but also recommend testing the static ads. We’ve found that static is sometimes more effective for performance-based campaigns.
Canela, the free streaming service targeting U.S. Hispanics, announced the launch of their new ad-supported music offering. Canela Music is available on CTV and through a mobile app. The service focuses on content from across the Latin music spectrum, with an emphasis on new and emerging artists. As the general market has become a diverse market, we’re encouraged by Canela providing new ways to target the U.S. Hispanic audience more specifically with programming focused on different age groups and mindsets.
The company stated that they have no immediate plans to start their own streaming service. Instead, they will be focusing on content—producing more than 2,500 hours of original shows to be distributed across a broad range of platforms. A&E also announced they will be entering into the podcast space, with several audio counterparts to popular History Channel shows. At Quigley, we believe that podcasts are an increasingly important way to reach audiences, both from the point of advertising and content marketing. With more people working remotely, we can’t always rely on the traditional daypart model. Podcasts allow us to reach audiences anytime. Unlike video, people can consume podcasts while doing other things throughout the day, like working or exercising.
Roku announced that they had launched 50 new shows since the last IAB conference. This included programs developed through the Roku Brand Studio, which gives advertisers a turnkey solution for producing branding content on the platform. Roku shared their recent partnership with Maker’s Mark to produce The Show Next Door with Randal Park. This entertainment-first content marketing program speaks to the reality of working from home and the need to create a division between workday and personal life. As content marketing becomes an increasingly important part of the marketing mix, we believe that partnerships like this—between platforms, creators, and brands—are going to be essential to produce the amount of relevant programming needed to drive results.