On February 27th, LiveRamp hosted RampUp 2014, our annual summit. More than 1000 marketers and industry leaders came together to discuss connected data for intelligent marketing. Over the next week, we are posting videos from all of the sessions that took place throughout the day. Today, watch the three keynote sessions of the day with Neal Mohan, VP Display Advertising Products at Google, Mark Penn, Chief of Strategy and former EVP at Microsoft, and Peter Thiel, Managing Partner of The Founders Fund, moderated by Auren Hoffman of LiveRamp.
Fireside chat with Neal Mohan, VP Display Advertising Products at Google
Neal Mohan sat down with LiveRamp CEO, Auren Hoffman to discuss the state of display advertising and what the future looks like. Mohan stressed the importance of finding better methods for measuring the efficacy of digital advertising and of creating relevant, useful experiences for consumers. Below are some highlights from this session:
- Regarding Mobile, Mohan said, “If you are just focusing on mobile, you are solving yesterday’s problem.” 90% of consumers start a task on one device and finish it on another. Mobile is just the tip of the iceberg for reaching consumers on multiple devices.
- Mohan said that 60% or more of marketing budgets are still in TV because brand marketers have extreme difficulty measuring efficacy of digital ad spend. He suggested greater openness and transparency between advertisers, publishers, and technology providers as a means of solving this problem.
- When asked about how technology companies can partner with Google, Mohan said, “We’ve had a great relationship with LiveRamp.” What’s made this partnership successful, said Mohan, is aligning incentives to focus on the user. Other companies can effectively partner with Google by finding a common goal that brings users more value.
Fireside Chat with Mark Penn, EVP Strategy and Advertising at Microsoft
In the second keynote of the day, Auren Hoffman and Mark Penn discussed microtrends, privacy, observations about technology and politics. Drawing on experience as a political campaign strategist as well as his experience currently as an advertising strategist at Microsoft, Penn found interesting parallels between Washington and the Valley.
- Penn started off by defining microtrends as trends limited in their size, but with a huge potential to impact the world. He identified emerging microtrends of “intelligent TV watchers” and extended “footloose and fancy free-ers.” The recent influx of TV variety has created a new culture of sophisticated TV discussion, while footloose and fancy graduate professionals who delay marriage for years have increased demand in the housing, fine dining, and entertainment industries.
- Penn drew a parallel between the technology/privacy and the government/privacy tensions. We want all the benefits of a government that protects us and provides public services, but certain actions such as search/arrest-without-warrant are off-limits. Similarly, society wants the benefits of technological advance, but there are areas that need to be off-limits. Penn reminded the crowd that, “There’s no amendment in the constitution that deals with the internet, because the internet didn’t exist.”
- Drawing on his observed disconnect between the elite way of political discourse in Washington with real voters in the American people, Penn warned of a similar “Tech Way” that affects the Valley, and may alienate the masses of tech consumers elsewhere.
Fireside Chat with Peter Thiel, Managing Partner of the Founders Fund
Peter Thiel and LiveRamp CEO Auren Hoffman talked about a variety of topics for the closing keynote. They talked about tech bubbles, the level of technology innovation that’s currently happening, the role of computers and technology in the future, and business advice for entrepreneurs and startups.
- Regarding bubbles, Thiel does not think there is a tech bubble. He states, “I think we only have a bubble when the public gets involved. And the public is not involved for the most part because most of the tech companies are still private.”
- Thiel is more interested in what makes things unique. He looks at the 90s bubble as a chance to look for differences between then and now, as opposed to what similarities we can draw between the two periods. The 90s were more sales and marketing focused, whereas the current market is very product focused.
- On nonobvious advice to entrepreneurs, Thiel likes to ask, “Tell me something that is true that nobody agrees with you on?” It draws a line with one of his favorite business questions, which is “What great business is nobody building?”
- The best way to grow a company is to start with small markets and grab the market. When you have very big markets, it’s hard to capture everything.
If you are interested in learning more about LiveRamp or have comments about RampUp 2014, please send an email to firstname.lastname@example.org