- April 4, 2011
What does the future of advertising look like in a real-time personalized web? This panel features:
Miten Sampat, VP of Strategy for Quova
Martin Wesley, VP of Sales and Business Development for BrightTag
Graham Mudd, VP of comScore
Russell Glass, CEO of Bizo
Zach Coehlius, Co-Founder and CEO of Triggit
Geoff Domoracki, Moderator
11:23 Domoracki: Personalized, real time ads resemble “Minority Report”. Is that vision correct and should we go that way?
Coehlius says that people don’t want to see ads that don’t pertain to them. Targeted ads make the internet a better place. “Minority Report” is a bit of a farse.
Search has understood this model for years. This is why Google has made so much money because they do search relevant ads. The rest of the web should follow suit.
11:25 Domoracki: What sort of data would you like to see so as to make advertising more relevant?
Sampat explains that advertisers do collect data, but it would be useful to see sentiment data as well as geo/IP data. They are working on improving accuracy of geolocation data.
Glass would like to see more “real” data. He would like to see a focus on higher quality data that focuses on creating a quality experience for the users.
Sampat claims that technology is changing what is possible. Real time data gives better context to ads.
Coehlius explains that a site collects IP addresses from users. A call is made to Triggit to collect data on that user, a bid is made, and then within milliseconds a more targeted ad is served to that user.
Wesley explains that current system for real time data is flawed. Challenge is that marketing wants to work with as many partners like Triggit as possible, but IT wants site to perform as well as possible.
11:32 Domoracki asks, “What are some of the challenges of real-time advertising?”
Mudd claims that data at scale is an issue. Branding at scale is an issue. How do you plant the seeds that a 23-year-old should buy a BMW in ten years when he can afford it? Another issue is separating the good from the bad data.
Coehlius says that measurement is difficult. It’s easy with search. This issue is that ads are like billboards and that people are not in the mode to buy something. How do you measure something where the active engagement is not happening at that moment in time?
Glass supports Coehlius’s statement that decisions are not made when someone sees an ad. Very often it could be much later and that branding is difficult to measure.
Mudd says that this measurement is possible, but is incredibly expensive.
Coehlius says this is $50,000 a campaign, so only companies like Coke can afford it. Small to mid size businesses are essentially “shooting in the dark” when it comes to brand advertising.
Wesley says that data will help with this, but we have to be sure to be responsible with data in terms of privacy.
11:38 Domoracki asks how startups can pick up the slack when it comes to analyzing the user story.
Glass says that startups fail because they aren’t focusing on a very specific problem. The opportunity is to be hyperfocused and solve a very specific problem, e.g. focus on the Hispanic market
11:40 Domoracki opens questions up to the audience. Someone asks about how to assure quality.
Coelius says that market varies by audience. Real time bidding allows that niche audiences that have specific use cases are incredibly valuable to advertisers.
Sampat says people in the advertising department should be really looking at user data so as to provide the most value to advertisers. It is about understanding your audience. Glass reiterates this point.
Audience member feels this industry is not interacting well with individuals. Advertisers are collecting data but not giving consumers the opportunity to control data with “data lockers”.
Sampat says it would be great if consumers could have control over their data, but it is a difficult problem to solve. Perhaps the solution is some sort of plugin that allows users to control this.
Mudd says that everyone wants consumer participation, but no one has created a model that is attractive to the consumer.
Glass says that “real data” will require audience participation and that there is an opportunity there. Sampat cites Facebook as an example of a company that uses information given by users to provide valuable ads.