Whether or not there’s a pandemic or recession, it doesn’t alter the fact that organizations need to adapt to change if they want to succeed. The current economic downturn may be a time for frustration, but it also provides an opportunity to take a look at your current marketing strategies and make the necessary pivots for optimization and even growth.
In a recent AdAge byline, LiveRamp’s Christine Grammier opined that within the TV industry, “advertisers will need to make up for those canceled impressions and missing reach from sports in areas where the inventory is available—different networks, dayparts, addressable, and OTT strategies. Agile collaboration from the sell side utilizing all their assets is required to help brands and the industry through this time.”
Christine also writes that the current climate will require advertisers to innovate offering these suggestions:Â
- Be ready to reboot your marketing activities quickly and continue to pivot as needed
- Remember that precision is more critical when budgets are smaller
- Establish more flexible relationships between the sell side and buy side to focus on tying advertising spend to business outcomes
- Innovate by stepping outside of the traditional tools that do not serve you well in this accelerated cross-screen world
In Digiday, LiveRamp’s Travis Clinger took a look at the current digital advertising landscape and how data privacy regulation, the end of third-party cookies, and growing dominance of walled gardens are putting pressure on the long-established relationships between digital publishers, advertisers, and consumers. But even as the pressure builds, this is also a time for innovation. Travis writes, “this foundational change also provides publishers, marketers, and their technology partners with an opportunity to build a new and better digital ecosystem. However, our challenge is not to replace the third-party cookie, but to build a new, sustainable way of engaging that is rooted in consumer trust, making it easier for people to understand and control how their data is used.”
He goes on to say, “an authenticated solution allows publishers to recognize known users, thereby enabling data-driven ad targeting and associated high-value yields. The ability to recognize known users on a site also unlocks new revenue streams with enhanced direct, private marketplace (PMP) deals that can include brands’ custom audiences and open-marketplace targeting on identity-enriched ad inventory.”
Given the dramatic shifts we are seeing across the industry doesn’t mean you can’t be prepared and in control. Come join us for our 60-minute webinar, “Smarter Spending in a Challenging Economy,” on Tuesday, April 14, at 11:00 am PT/ 2:00 pm ET. During the webinar, our industry experts will share how to be proactive, ensuring your business remains resilient and pursues higher performance to capture market share during this time. We will cover:
- Why resilient businesses aggressively pursue higher marketing performance in times of economic downturn
- Ways your business can spend smarter to increase business productivity and accountability
- Which strategies marketing leaders have taken in past recessions to bolster existing customer relationships, steal market share, and engage new prospects
- How to protect essential spending by clearly demonstrating the impact on both short-term and long-term business outcomes
Our speakers:
- Laura Desmond, Founder and CEO of Eagle Vista Partners and former Global CEO for Starcom MediaVest Group
- Laura McElhinney, Chief Data Officer for Horizon Media
- Jim Nail, VP and Principal Analyst at Forrester
Register now and stay safe.