Data & Marketing Attribution Tech Will Reshape How Publishers Create Content & Sell Advertising
Data is key to publishers’ future success, particularly when it comes to improving user experience and identifying the marketing efforts that drive results for advertisers. Petar Bozinovski is president of adtech company Crucial Interactive which developed the rich media ad platform Contobox. He believes that marketing attribution and advanced first-party data management will be required technology for all publishers in the near future. These two capabilities will enable publishers to serve more enjoyable experiences to their readers and provide better outcomes for their advertisers, says Bozinovski.
In the following Q&A, Bozinovski explains how publishers can develop richer audience data and improve their ad inventory to prepare for this future.
Crucial Interactive sponsored the 2016 FUSE Media Summit.
What are the most important technologies shaping the media business today?
Technologies that can help publishers deliver a better user experience for their site visitors while providing an opportunity to increase revenue are essential.
One of the biggest challenges publishers face today is finding the right balance between site monetization and user experience. With the increased shift towards programmatic media selling and buying, this problem has increased significantly. Thus, leaving publishers with less control over the inventory that’s being served to their users. Programmatic can treat publishers’ differentiated product as a commodity. So it’s important for publishers to have strategic partnerships with technology companies that can help them increase the value of their inventory and build better user experiences.
In their effort to increase revenue publishers are oversaturating their sites with advertisements, which has resulted in a lower retention rate for both site visitors and advertisers. It’s a vicious cycle of spending money to deliver site traffic only to lose them to poor user experience.
What emerging technology or trends do you think will have a profound impact on the media business in 2020?
Marketing attribution is currently a burgeoning technology that will have a profound impact in the next four to five years. Attribution technology identifies what marketing touch point drove the desired outcome for the marketer, but due to cookie-bombing and cross-device mapping it still has a lot of maturing to do. Attention analytics, such as viewability and time-in-view, are becoming more prominent. Publishers should be using these metrics to understand advertising’s effect on user experience and purchase decisions.
As these technologies are utilized and improved in attribution, marketers will get a much clearer picture of which advertising disciplines have actually resulted in lifting brand metrics. As a result of this publishers that have fundamentally helped to drive lift will be to able to see a significant increase in both advertiser retention and time spent on site.
Lastly, it is imperative that publishers build better first-party data sets of their audiences. Adopting a DMP will become a necessity and will increase the likelihood of partnerships with other first-party data owners to build strong second-party cross-behavioral and interest-based data sets. These partnerships will result in more monetizable audiences.
What should media companies be doing now to prepare for a future with greater attribution and richer first-party data?
Media companies should understand their audiences as best they can through analytics and other user data. To do this, it’s important to make sure they have two types of partnerships at their disposal. The first being a data management platform, so they can build out their first-party data to sell to advertising partners.
The second important partner to have should let them collect unique data -- like Contobox. We focus on providing an easily monetizable platform with rich user engagement data to layer their own proprietary in-market and affinity audience segments to advertisers. An engagement platform can deliver instant data capture, as well as significantly lift brand awareness, message retention, and purchase intent, while providing a more engaging user experience.
Why do you think media businesses should attend FUSE?
Media businesses should be attending FUSE to meet with technology companies that will help them connect with, grow, and retain their audiences in a fragmented media landscape. While there are numerous technologies, none of them are one size fits all. FUSE allows business to find the ones that suit them best on a one-on-one basis and form the necessary relationships to continue their growth.
How are you helping media and publishing companies discover new technology-driven business opportunities?
We offer publishers an opportunity to increase ad revenue while improving user experience. In terms of revenue, we enable publishers to increase inventory value for their standard IAB placements through the adoption of Contobox’s rich media technology. In addition, our innovative video and native formats create new non-intrusive ad inventory. Our offering is turnkey as we provide creative production, ad-serving, reporting, analytics, and dedicated sales strategists -- it is cost effective and helps drive innovation for their site.