Thursday, March 23, 2023

Why Gender Equity Requires a Focus on Inclusion

 

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    Why Gender Equity Requires a Focus on Inclusion

     Women bring complex identities to the workplace.

    The complex identities that women bring to work mean they face different challenges to their success in the workplace.

    How inclusive are your efforts to support women in the workplace? A narrow approach might be doing more harm than good.

    When a parental leave program is only available to employees who give birth to a child, a message is sent to employees having a different experience. Parents who are adopting a child, having a child via surrogacy, or otherwise growing their family without giving birth are left to wonder if the company values them as much as it values birthing mothers at the company.

    “If your goal is to build trust in the workplace, that hinges on authentically seeing and connecting with people,” says Sarah Lewis-Kulin, vice president of global recognition at Great Place To Work®.

    Like any other demographic in your organization, women are not a monolith. They are having a vast range of experiences in the workplace and face unique challenges that are associated with the complex identities they bring to the workplace.

    By the numbers

    Racial identities reveal experience gaps for different groups of women in the workplace.

    Compared to men, all women are more likely to “quit and stay” — the phenomenon in which employees who feel overlooked and underappreciated in the workplace stop giving extra effort, but don’t leave the organization. However, Black women are 20% more likely to experience “quit and stay” than white women.

    And Black women who say they wouldn’t recommend their employer to friends and family are 28 times more likely to quit and stay than white women who say the same.

    “Rising tides lift all ships — and that’s for sure what we see at the best companies.”

    There are different gaps for working mothers, also. Burnout for working mothers (compared to white, male counterparts) is 47% more likely for Black mothers, 33% more likely for Asian mothers, and 23% more likely for Latinx mothers.

    Women who identify as LGBTQ+ are also having a different experience. Even at great workplaces, LGBTQ+ employees are 7% less likely to have a psychologically and emotionally healthy work environment compared to their coworkers.

    These experience gaps are having an impact on how women move through the workplace. Most employees experience higher levels of inclusion as they are promoted to higher levels in the organization. However, women experience less inclusion than men at a similar management level.

    White women experience the largest gain in inclusion with increased management responsibilities. Latinx women feel the smallest gain in inclusion with more management responsibilities.

    For Black women, despite a sizable gain in inclusion at work with increased management responsibilities, they still lag all other demographics, reporting the least amount of inclusion at work at every level of management.

    The impact on the business? Lower retention, less innovation, and, ultimately, lower profits.

    Gaps as an opportunity

    These employee experience gaps should be seen as an opportunity, says Lewis-Kulin.

    “Obviously, we don't want to have them,” she says. “But experience gaps mean you know how to create a great workplace for some people — so what does that tell you about how you can extend that to your whole workforce?”

    If older women find their work more meaningful than younger women — a finding that has shown up in Great Place To Work research — that offers a clue.

    “The first thing always is to talk to your people.”

    “What can you find in that moment that you're doing really well for some people, and how can you extend that more thoughtfully so that everyone is included?” Lewis-Kulin says.

    It starts with listening and having a deep understanding of the different experiences of individual employees in your organization. (Hint: Surveys are a crucial tool.)

    The good news? Solutions to many of your problems won’t come with a big price tag.

    “In some cases, it just requires rewriting a policy so that you're explicit about who is included,” Lewis-Kulin shares, as an example.

    Avoiding stereotypes

    One classic mistake that companies can make is to equate their efforts to support women with programs connected to childcare and family responsibility.

    “Of course, that's an important part of life experience for many women,” says Lewis-Kulin. But women in the workplace have a much richer and broader range of experiences.

    “It is reductive to me to equate how companies support women solely with parental benefits because, obviously, not all women are going to have children,” she adds. “And parenting is not only a women's issue.”

    Instead, Lewis-Kulin recommends personalizing the support to the employee. “The first thing always is to talk to your people,” she says. They'll tell you what they need.  

    And if you start to feel overwhelmed by the many different needs of your people, remember that your efforts to help one targeted group will likely improve the experience of all employees.

    Lewis-Kulin gives an example of a window installation company that heard from its female salespeople that it was hard to transport heavy samples to clients’ homes, a potential barrier for women having success in sales roles. When the company designed a lighter sample window for its sales reps, male employees, as well as employees with disabilities, benefitted from having to haul less weight from appointment to appointment.

    “Winning attention for one group doesn’t have to come at a cost for another group,” Lewis-Kulin says. “Rising tides lift all ships — and that’s for sure what we see at the best companies.”

    Ad Creative Still Mostly Fails To Leverage Converged TV's Targeting Capabilities

    Why local-direct creative produced at your station with, your truly, can help you with your client's needs. This is reserved for stations who are licensed to use System 21. Philip Jay LeNoble, Ph.D.

    COMMENTARY

    Ad Creative Still Mostly Fails To Leverage Converged TV's Targeting Capabilities

    The targeting capabilities of advanced/converged TV should be a boon to advertising effectiveness. But most of the ad creative out there now still isn’t capable of exploiting those capabilities.

    Seventy percent of 53 senior brand advertising executives recently surveyed by Innovid reported that while they develop some kind of variations for different platforms, the overall creative for campaigns is basically the same.

    Just 20% reported producing unique messaging for each platform, and roughly the same numbers reported either repurposing linear TV ads for connected TV and digital, or repurposing digital video ads for linear/CTV. (Chart above.)

    In most cases, respondents said the creative effort still starts with a central “big idea” that’s conveyed as a 30- or 60-second spot, even though the output is destined for platforms that enable tailored formats and personalization. 

    “While the ‘big idea’ approach can work well between linear and CTV, which can share the lean-back viewing behavior of the big screen, a number of marketers stated that they [simply] put their digital video ads in rotation when they advertise on CTV/streaming,” notes Innovid.

    Brands that already take a digital approach to their marketing mixes or have more digital-friendly audiences — and are accustomed to using tech like dynamic creative optimization and interactive tools — were found to be more apt to produce more personalized and interactive creative specific to each distribution vehicle. 

    But in advanced TV, the costs involved in producing multiple video ads, and the complication of trying to determine how many variations will drive a positive ROI, are major hang-ups. 

    One marketer said that despite not having invested in linear TV in over five years, their agency still starts by presenting a video reel of the idea. The team then has to take that idea and make sure it works on the big screen in conjunction with how it's retooled for digital platforms. 

    “We consider CTV/streaming to be another form of digital video,” said a vice president of digital marketing for a multichannel retailer. “YouTube remains a platform on its own. Pinterest has been successful in offering integrated shopping units with commerce feeds and more granular audience targeting, similar to others. TikTok launched several new formats recently that they are testing; they’re all playing around with new and unique creative units so that brand marketers can run better-performing full-funnel campaigns within their platforms.”

    The encouraging news is that 48% of respondents said that they plan to devote more resources to new creative executions that incorporate personalization and 35% plan to prioritize interactivity at scale, in the coming year.

      

    “In a marketing environment that continues the march toward automated and obfuscated [media] offerings, creative is the largest lever you can still pull,” commented a vice president for an online retailer. “Developing in-house creative production, cross-training brand and performance marketers, and building omnichannel creative playbooks with clear business outcomes are crucial.”

    The survey's respondents were drawn from senior executives who are members of the Ascendant Network’s digital and retail communities. 

    Most CTV Ads Miss The Frequency 'Sweet Spot'

     A supported reason why local-direct business is your best opportunity to gain revenue traction for you and your station. Philip Jay LeNoble, Ph.D.

    COMMENTARY

    Most CTV Ads Miss The Frequency 'Sweet Spot'

    Earlier this week, I reported on some key findings from an in-depth study on attention and receptiveness to connected TV ads, from Yahoo and Publicis Media, that employed facial recognition and ACR data and a consumer survey.

    Those points, in a nutshell:

    *Streaming viewers are generally accepting of ads, but just a third of CTV ads draw two or more seconds of active, eyes-on-the-screen attention.

    * Viewers tend to pay more attention to ads on paid, subscription-based apps, including vMVPDs like YouTube, Fubo and Sling TV and ad-free/ad-supported tier hybrids like Hulu, HBO Max and Paramount+, than to ads on free, ad-supported streamers (FASTs) or smart-TV channels on FASTs (like Amazon’s FreeVee).

    * CTV advertising attention increases with age. It’s more difficult to engage the attention of younger viewers.

    * Viewers under 30 are much more likely to spend time with hybrid streaming apps. Standalone FASTs, like YouTube TV and Tubi, are most-viewed by those age 50 and up. Smart TV channels on FASTs are most popular among those 40 to 49.

    * Most consumers aren’t impressed by the ad experiences delivered by any of the four paid and free ad-supported formats studied. Asked if these platforms deliver  “natural,” cable TV-like ad experiences, 43% of consumers agreed that vMVPDs deliver such an experience, and even fewer said the same about FAST channels (39%), hybrids (38%) and FASTs (33%). Awkward ad breaks during programming and ads that aren’t evenly distributed across a program are major turn-offs.

    * Only two-thirds of all CTV ads were found to be viewable (TV on, one or more person in the room, and on screen for two or more seconds), and just a third of those drew eyes-on-screen attention for two seconds or more.

    But that summary didn’t include several other potentially valuable insights produced by the study, so I’m sharing those here:

    *Frequency matters. Attention peaks at six to 10 ad exposures — but 85% of impressions never hit this peak (chart top of page).

    On the other hand, over-repetition can negatively affect brand sentiment. More than two-thirds (67%) of viewers say they’re annoyed by seeing the same ad more than once within the same ad pod. Attention drops when viewers are exposed to the same ad within two minutes, and remains lower for ads aired less than five minutes apart.

    The “sweet spot” for attention is six to 10 exposures, with 12 to 24 hours between exposures. 

    * While CTV ad attention is highest during traditional linear prime time, it also has peaks of attention during the early and late morning periods that may offer attractive, less costly opportunities for advertisers.

    * The audio aspect of CTV creative is critical. Half (53%) of consumers report frequently having CTV on in the background while they do other things, or even leaving it on all day long as background, and 81% said they still hear/listen to the audio when CTV is in the background.

    * Ad-pod position and length matter. Ads that air in the first in-pod position capture at least two seconds of attention 38% of the time, and draw an average attention length of 11 seconds. Longer (60-second) ads, in particular, perform best in the first position. Pods of under 90 seconds up to four or five minutes in length generate 36% to 38% attention rates, but pods that are five minutes or longer drop to 27%.

    *Changing creative over multiple exposures has a positive impact on receptiveness to brands. Seeing different lengths of an ad has a positive, but lesser, influence.

    *Longer ads get more attention time, but viewers see less of the total ad.

    *Content genres with higher engagement during viewing also draw higher ad attention. Crime dramas have the highest ad attention (46%), followed by political commentary/coverage (39%) and game shows/competitions (38%), other dramas (35%), and horror/mysteries (34%). The top three genres for ad attention during co-viewing are game shows, political and family.

    *Contextually relevant ads draw more attention. For instance, the average attention level for all 30-second ads in the cooking genre was 20%, but vertical food/beverage ads’ rate jumped to 45%. Two-thirds of viewers said that ad experiences are better when they feature elements or people from the program they are watching.

    *Personalization is key (59% want ads relevant to them/their interests), but 62% say most streamed ads aren’t relevant to them, and 54% say social media delivers more relevant ads than streaming services.

    * Sponsorships outperformed conventional ads on getting at least two seconds of attention, attention time, and attention conversion.

    *Consumers want to control their ad experiences, including seeing a countdown timer, choosing the ads or ad categories they’ll see, and interacting with ads.

    * Viewers describe “ideal” ads as ones that are funny, to-the-point, feature


    Sports Rights Fees Keep Rising, Even as Streamers Slow TV/Video Content Spend

     

    COMMENTARY

    Sports Rights Fees Keep Rising, Even as Streamers Slow TV/Video Content Spend

    Look out, sports TV-focused networks and streaming platforms -- sports rights are still valuable. And you know what that means: open your wallets.

    Sports TV rights revenue is expected to continue to soar, says Rethink TV -- rising near 9% on a compounded annual basis in five years.

    It says the top 15 global sports leagues will reach $67 billion in 2028 -- up 8.87% on a compound annual rate basis -- rising from $43.8 billion in 2023.

    The sharpest increase will come from a new contract negotiation for the National Basketball Association (NBA), which Rethink projects will grow 26.30%, reaching $13.5 billion in 2028.

    On the weak side, Major League Baseball (MLB) will see the slowest growth -- just a 1.98% hike over the next five years.

    Now analysts say all this is happening as sports rights holders increasingly understand their value in terms of repackaging sports leagues in smaller packages in order to meet the demand of a growing pool of hungry rights holders.

    As evidence of this, the top-drawer NFL -- which is just beginning its new contract for linear TV and streaming platforms among five big media companies -- has made a separate and lucrative deal to sell its “NFL Sunday Ticket” package of out of market games to YouTube TV for a estimated $2 billion per year in a seven-year deal.

    For example, the NBA could also look to spin off its NBA League Pass, a direct-to-consumer (D2C) subscription-based service -- live and on-demand -- for the entire NBA season.

    Deals such as this potential one -- with potential exclusive distribution -- will spread the awareness of platforms/network/streaming distributors looking for that highly valuable content to attract customers.

    HBO Max -- which heretofore has not offered live sports -- is also considering getting into the game. Its sister linear TV networks -- TNT, TBS, truTV, for example -- currently air NCAA's March Madness, a men's basketball tournament. TNT also airs NBA games.

    Even Netflix has been mulling the idea for sports. But it has yet to make a dramatic move. Instead, it continues to lean on video gaming content -- releasing 40 games this year, with 70 in development.

    This effort --  as well as the industry overall -- continues to focus largely on younger viewers, next-generation streamers for premium TV shows and movies. At least that is the hope.

    High-value sports franchises know the score. And although streaming platforms look to slow down overall entertainment content/production spending, they must continue to play the game.

    Three Seasons Of Any TV Show Is Enough - Just Ask Streaming Users

     

    COMMENTARY

    Three Seasons of Any TV Show Is Enough - Just Ask Streaming Users

    Three years and an average of eight episodes per season, and it's over? Is that the new normal for today’s modern TV series? Yes, those are the dynamics for what could be described as a successful TV series. Make that a streaming TV series.

    Susan Rovner, chairman/entertainment content, NBCUniversal Television and Streaming, said recently at SXSW: "When you look at a lot of the streamers and how they program now, it’s 'three seasons, eight episodes each season and we’re done.' So they’re not building those libraries, and I think that’s a mistake. I think that’s going to catch up."

    Maybe. Have you seen the average duration or a show on Netflix over the last decade? Three seasons and eight episodes per season would be a good deal. If Netflix has figured out how to make money, maybe you can too -- or maybe just in your dreams.

    I wonder how this will work in the future for all premium content streamers -- Peacock, HBO Max, Disney+, Paramount+, AMC+ -- when it comes to building more long-lasting libraries? When you are looking to grow quickly -- and be profitable -- that will be a tough task in any event.

    Lifetime TV series’ seasons and episodes are getting smaller. In the future, forget about your "NCIS" with its 20-year run -- now totaling 450 episodes -- or "Grey’s Anatomy," now at 19 seasons and 400 episodes.

    Shorter, quicker TV series seem to be what most consumers want -- to move on to the next must-see thing. Blame the lure of so-called "peak TV" if you must.

    John Landgraf, chairman of FX Networks, used to complain regularly that a growing number of premium TV series on broadcast, cable, streaming and other channels would create a massive problem due to the time that would be needed for viewers to consume all these "peak TV" shows .. and then, adding in the costs of marketing those shows.

    As it turns out, for peak TV, the “peaks” may be just short climbs up a big TV hill. And bingeing plays a major role in this.

    Viewers are now conditioned to move on to other shows -- believing they are already missing a lot of programming on other new streamers and platforms.

    Apple TV+'s "Ted Lasso" has read the tea leaves. At the beginning, it was always planned to be a three-season show. It recently started up its final season.

    Netflix’s "Grace and Frankie" lasted seven seasons with a total of 78 episodes --- which means a little more than 10 episodes a season. Still, it remain's Netflix’s longest-running original show to date.

    And perhaps, looking back some years from now, just a streaming outlier.

    Monday, March 13, 2023

    78% Of Consumers Engaged with an OOH Ad in Past 60 Days: Study

     

    78% Of Consumers Engaged with an OOH Ad in Past 60 Days: Study

    Social media, podcasts, search engine ads, and AI-created ad copy generate buzz, but a study on out-of-home (OOH) advertising released this week estimates that 88% of adults notice OOH ads, and nearly 80% of those viewers are inspired to take action.

    The data is based on a November 2022 poll of 1,461 adults conducted by Out of Home Advertising Association of America (OAAA) and Morning Consult.

    Among the 30% of adults who recently noticed an OOH ad that gave directions to a store or business, the data shows 43% visited the store, business, or restaurant within 30 minutes of seeing the ad, and 78% of those visitors made a purchase.

    OAAA President and CEO Anna Bager refers to OOH as performance advertising and points to data showing it as one of the fastest-growing ad media in 2022.

    Search & Performance Marketing Daily talked with Bager to get her views on the current state of DOOH (Digital Out of Home Advertising), how DOOH ad tech has evolved to meet the challenges that face the channel to make it increasingly programmatic and improving measurement and targeting.

    S&PMD:  How is DOOH driving growth across the overall OOH industry?

    Bager:  Let me take a step back to say that OOH was the fastest-growing ad medium in 2022. While the year-end numbers for 2022 are still being finalized, I can share that DOOH overperformed with growth rates near 25%, which represented almost 30% of total OOH advertising spend.

    The future looks even better as DOOH is projected to reach more than 40% share of total OOH in the next couple of years. This is the kind of growth you’d expect from a startup, not a medium that has been around for centuries. It’s great to see our industry thriving across the entire sector. So yes -- a rising tide lifts all boats.

    S&PMD:  With growth in consumer favor leaning toward contextual advertising, how is DOOH’s dynamic platform matching brand needs and consumer preferences?  

    Bager:  Understanding what consumers want is key to making sure brands take advantage of the medium in the best way possible. For example, research shows that creative messages oriented toward convenience and context resonate the most with consumers­­ –– such as products related to current weather conditions, food options, and offers that match the time of day.

    Imagine seeing an ad on a digital board that shows a beautifully designed Dunkin' coffee cup with the current temperature as part of the message, and a welcoming message that you deserve a coffee break. You’d probably jump into a store to get one. You’re not alone. Nearly half of adult consumers find contextual DOOH ads of greater interest.

    S&PMD:  With the use of QR codes increasing, does this mean OOH can be considered performance advertising?

    Bager:  OOH and DOOH should be considered by all brands focused on performance marketing, because OOH is the most efficient ad channel in driving online activation per ad-dollar spent. In fact, OOH’s highest indexing activations are social engagement, search, and online purchasing.

    Over two-thirds of Gen Z and Millennials recall seeing OOH ads reposted in social media.

    The struggles digital media is experiencing with the loss of consumer data and campaign tracking leads are causing digital marketers to scramble to find the right partners. This situation enhances OOH’s value even more, as OOH is a highly efficient conduit for brands to build first-party data. 

    With the explosive use of QR codes the past few years, OOH has benefited from the rebirth, with many DTC brands in particular incorporating QR codes in their campaigns. In urban markets with populations of more than one million residents, 48% of consumers express an interest in special sales or deals offered through QR codes. 

    S&PMD:  How does DOOH advertising compare to other advertising channels in terms of reach and effectiveness, in your opinion, and what role does data play in increasing the effectiveness?

    Bager:  Thanks to DOOH’s massive footprint, it generates higher recall than all other forms of core media (on average recall in the range of 46% - 84%) and delivers great value with highly competitive CPMs.

    To give this some context, we partnered with Place Exchange to examine how programmatic DOOH competed against the $7 million cost of a one-time, 30-second TV ad that runs nationally (hint, hint, bet you can guess what that buy was). For the same cost, a brand could invest in a robust programmatic DOOH campaign that spans the top 27 US markets for four weeks with a total of 600 TRPs, earn nearly one billion impressions, and achieve an average reach of 78% and a frequency of almost eight (7.8). Now, that’s what I call a “super” smart buy.

    S&PMD:  DOOH is expanding, especially with various key players like The Trade Desk and Google managing inventory. What is your industry doing to drive adoption and growth of programmatic DOOH and what trends are you seeing? 

    Bager:  As the OAAA, we’re constantly meeting with brands and agencies to evangelize the story and vision for DOOH.

    We’re aiming to drive competition with the biggest digital ad platforms, and some of them frankly want to play in DOOH space –– like The Trade Desk and Google. We embrace that. It’s no surprise that eMarketer projected that programmatic DOOH spend would grow by 100% in 2022.

    There is so much opportunity in this space -- especially for the top four programmatic DOOH categories.

    We’re excited to see the exponential growth of DOOH. From the adoption of OpenDirect to the integration of OpenRTB, we’ve made great strides in advancing automation across the industry.

    Programmatic buying and automation will be huge drivers of growth for DOOH in the years to come as they lower the friction and increase transparency for advertisers interested in entering the space.

    COMMENTARY Finding Young Audiences for Legacy TV Networks: The Pull of Streaming Platforms

     By having more local-direct businesses using best practices media marketing, local businesses can capture those long sought-after, young families! Philip Jay LeNoble, Ph.D.

    COMMENTARY

    Finding Young Audiences for Legacy TV Networks: The Pull of Streaming Platforms

    CBS is still making the case that programming size matters -- in linear TV and streaming.

    But does this mean altering the types of programming genres -- to get younger viewers -- especially for streaming?

    CBS currently has eight prime-time shows that get more than 10 million viewers each -- which is much more than any other network.

    This list includes “NCIS” (11.7 million); “Ghosts” (11.6 million); “FBI” (11.4 million); “Blue Bloods” (11.3 million); “Young Sheldon” (10.8 million); “The Equalizer” (10.4 million); “Fire Country” (10.3 million); and “60 Minutes” (10.0 million).

    Results come from Nielsen live program-plus-35 days of viewing on CBS Television Network, Paramount+ and CBS TVE (CBS.com/CBS app) and are available to watch on the Network and streamed live and on demand.

    Considering the ongoing concerns over reach on the part of TV advertisers, you can understand why this still matters.

    It's no surprise that these shows are down from years ago, with the median age still rising for those shows -- 60-plus years and older.

    But all TV networks then talk up that when those same prime-time shows move to their streaming platforms, they get younger -- for example, in the 40- to-45-year-old range. 

    Going forward, then, as streaming becomes more important in the distribution mix, one wonders what kind of programming will make up linear TV programming in future years.

    For its part, NBCUniversal -- as well as other networks -- sees linear TV networks as a launch pad of sorts, one where advertisers can still use legacy prime time for more “brand” wide marketing. And when those shows move to streaming, they can be used by marketers for more younger, niche audience targeting.

    A greater overall percentage of viewing of TV shows that start on legacy TV networks and then move to streaming will be for younger viewers.

    So does the initial TV production of series change to something else -- shifting away from criminal procedural shows, medical  and emergency dramas?

    Maybe all this won't be to target, say, younger Gen Z viewers. Maybe just those around 35 to 45 years old.

    For CBS and other older-skewing TV networks, perhaps help is on the way. Maybe there is something these networks can count on as part of those ever bigger legacy TV-media companies.

    Aren't CBS and MTV and VH1 all part of the same company? Go figure.

    Can Local TV Advertising Turn the Corner? Direction Unknown

     While both heads of Media companies agonize for national business, the most profitable and sustainably, the most controllable business is local-direct! I think what Mr. Weisbord is talking about as being local is "local agency" business. Philip Jay LeNoble, Ph.D.

    COMMENTARY

    Can Local TV Advertising Turn the Corner? Direction Unknown

    Is the legacy TV advertising market really bifurcating -- at least in the short term?

    Here is one current example: Local TV appears to be maintaining its strength in advertising coming off a strong fourth quarter, which pulled in typically strong midterm political advertising, while national TV is very weak -- the scatter market, that is.

    And now it seems there is some continued strength as we start a 2023 non-political election season.

    “Local was strong in January and February,” said Robert Weisbord, chief operating officer of Sinclair Broadcast Group, in a recent earnings phone call. “The weakness we’re seeing is really on the national side.”

    Weisbord did not provide specific details, and of course it’s still early in the year. And we haven’t seen what categories are actually growing. One thing is certain: “core” local TV advertising overall remains weak -- at least for the fourth quarter. Record political advertising more than made up for this.

    Then Perry Sook, CEO of Nexstar Media Group, said the same thing — almost.

    “The weakness we see is in national, where national advertisers — who obviously aren’t as close to the end-user and customer — have paused or reduced spending due to a potential weakness in consumers going forward,” he said.

    The intent here comes down to niche audience marketing, he signals — that local TV stations are on the ground close to those local advertisers' business activities, and they get a better read on things

    Local TV stations would like to believe their businesses can rival Facebook and Google, which built their businesses on millions of local marketers looking for specific business outcomes from digital messages.

    Although these companies have recently taken a hit when it comes to advertisers, both still have tremendous power and strength moving forward.

    Dare we say that perhaps local TV is still looking to ramp up more of those digital businesses? Surely, it is now packaging locally based OTT platform advertising sales -- from new ad-sales businesses -- to be added into their traditional linear TV buys for extended reach.

    Those digital revenues themselves are still slow-moving. But perhaps local TV might get more attention when it comes to renewing advertisers' interest in the broader-reach approach for their specific markets.

    Still, I wonder if the early 2023 start for local TV stations is just a minor trend -- and may not be long-lasting.

    We will, as they say, stay tuned. If not that, maybe just stay streamed.

    Wednesday, March 8, 2023

    Don't Overlook Your Most Lucrative Consumer Segment

     

    COMMENTARY

    Don't Overlook Your Most Lucrative Consumer Segment

    The following was previously published in an earlier edition of Marketing Insider.

    Marketers believe boomers are unlikely to switch up brand choices, with only 5% of U.S. advertising targeting them, according to Havas Group. And yet, boomers have the greatest wealth, drive the most actual spending, and aren’t as hidebound as marketers think.

    Boomers are starting life anew, post-empty nest or retirement. Mintel notes one in four boomers post-pandemic are prioritizing new purchases, 17% are prioritizing learning new skills, and 15% prioritize keeping up with technology. Boomer divorce rates are skyrocketing (more than one in three Americans divorcing in 2020 were 55+, according to the Census Bureau), and those boomers who previously deferred to a spouse when making product choices are seeing brands anew. 

    Marketers often cite the lower lifetime value of boomers, but on average, the youngest boomer women can expect to have 26 years of shopping ahead. Their generation’s estimated spending power of $70 trillion  far exceeds the $33 trillion that the Federal Reserve projects in Gen Z disposable income by 2030.

    And in terms of key behaviors, such as their likelihood to purchase purpose-driven brands, boomers are aligned closer to Gen Z and millennials than Gen Xers are. Perhaps that’s why Gen Z’s affinity for their grandparents is seeing a new trend, termed “skip generation” households and featured in the New York Times, in which Gen Z rooms with Grandma. It’s also why Gen Z has embraced the “coastal grandma” aesthetic in fashion and home décor. Also, check out the growing trend in boomer TikTokers, such as @grandma_droniak with her 5 million TikTok followers, and @brunchwithbabs with 2.5 million followers.

    In an age of programmatic media and micro-targeting, there’s no reason marketers can’t discretely target an older generation too.

    So, if you’re considering boomers as a target audience, where can you find them today?

    Think digital. Mintel notes 43% say they are more comfortable with tech than culture gives them credit for: a 2021 study found 90% of boomers shopped online (vs. 89% in store), ahead of Gen Z by nearly 20%. Boomers’ digital spend skyrocketed by 49% in 2020 alone, according to business insider.com, and close to eight in 10 said their confidence in trying new tech increased since the pandemic (mobiquity). In fact, a Google/Known study found 86% of boomers who are online reported spending at least six hours a day there -- and own, on average, five devices.

    Get in the game! Targeted advertising on ad-supported mobile games should be top-of-mind for marketers aiming to reach boomers, as the percentage of gamers aged 55-64 grew by 32% in the past two years, reports GWI. As of 2022, Data.ai found Gen X/boomers account for 25% of the top grossing games in the U.S. -- making them gaming’s fastest growing cohort. Boomers especially like mobile gaming: 39% play mobile games, and as of 2022, they comprise 23% of all mobile gamers, according to ironSource -- a larger percentage than either Gen Z or Millennials.

    Video is all. The largest increase of online video consumption in the last five years has been among boomers. They rely heavily on YouTube and social media videos in their research phase, with higher than average ad views and click-through rates (and less interest in ad blockers, with 38% using them versus 55% of adults under age 35, according to Edelman's 2020 Trust Barometer).  

    If you are looking for untapped growth opportunities, don’t overlook the misunderstood boomer generation.

    CTV Reaches 98% Of U.S. Households, Global Programmatic Ad Spend Tops $3B

     

    CTV Reaches 98% Of U.S. Households, Global Programmatic Ad Spend Tops $3B

    As of the end of second-half 2022, advertisers could reach 98% of U.S. households through programmatic buys, according to estimates from fraud protection and compliance analytics platform Pixalate.

    The U.S. reach is up by 48% from the end of 2019, when it was at 50%, per the company's CTV Ad Supply Chain Trend Report for the period.

    Global CTV open programmatic ad spend rose 41% in the second half, compared to 2H 2021, to reach $3.2 billion (chart top of page). Global spend grew by more than $1 billion between the first and second halves of 2022 alone.

    North American open programmatic spend rose 40% year-over-year in 2022’s second half. 

    Spending rose by 380% YoY in EMEA, and 22% in APAC, but declined 10% in LATAM, after two consecutive years of 250%+ growth.

    On the Roku platform, the top-grossing open programmatic advertising apps in 2H 2022 were Hulu, Pluto TV, Sling TV, Plex and Fubo TV.

    On the Fire TV platform, the top-grossing apps were Pluto TV, Philo, Tubi, Sling TV and Fubo TV.

    The Roku platform claimed a 50% share of all open programmatic CTV ads — its largest share since first-half 2020. Food and home apps in Roku saw a 137% gain in programmatic ad market share, news and weather 107%, and sports 55%.

    Samsung kept its second-place position, with 18% share, while Amazon and Apple each pulled 7%, and Vizio and LG each pulled 5%.

    However, LG’s share represented YoY growth of 181%. And while Microsoft had just a 2% share, that represented YoY growth of 213%.

    Apple, Vizio and Roku’s shares represented growth of 47%, 16% and 7%, respectively.

    Sony and Chromecast — which appear to be impacted by competition from China-based XMQ — saw 44% and 54% drops in share, respectively.

    Nearly 34,000 apps — or 23% of total apps in 2H 2022 — were in the Roku Channel Store. That’s up 70% since 2H 2020.

    The number of apps in the Roku store supporting open programmatic has risen 54% over the past two years.

    The number of apps in the Amazon Fire TV Channel Store rose 26% YoY in 2H 2022, bringing the gain over the past two years to 60%.

    However, while the number of apps in the Fire TV stores supporting open programmatic has increased by 63% since 2H 2020, it dipped by 8% YoY in 2H 2022.

    Movies and TV make up 84% of Fire TV’s programmatic ad spend share, followed by sports at just 3%. But sports’ share represented an 836% gain vs 2H 2021.

    By operating system, Roku continued to dominate, with a 48% share, followed by Tizen (17%), Linux (10%), Android (9%), Apple/tvOS (7%) and LG WebOS (2%).

    LG WebOS and Apple saw the largest YoY gains in open programmatic share: up 145% and 35%, respectively. Linux’s share rose 13%, while all other OS lost share.

    The invalid traffic rate (IVTZ) in open programmatic CTV was 18% in the second half — down from 26% in Q4 2021, and down 1% versus Q2 2022’s 19%.

    Thursday, March 2, 2023

    Build Trust with Clients Through Genuine Review Requests




     Build Trust with Clients Through Genuine Review Requests

    Learn the hard truths about seeking the truth and discover five effective methods to get the honest feedback you need to succeed.

    1. Encourage Client Feedback Through Organic Means

    One of the best ways to grow your business is to have lots of good reviews. How do you go about doing that? Currently, there are plenty of ways that you can contact your clients to get honest reviews about your services and products. But, of course, you do not want your request to appear forced or disingenuous. The trick to getting honest reviews is to request honest opinions. Asking a client for a good or even a great review can be off-putting. Instead, ask for their honest opinions. You never know; even a bad review might help you in the long run by informing you of what you need to change or how you can do things better.

    It’s also important to remember the tone and language used in your request for feedback. A personalized, friendly and polite approach is more likely to yield positive results than a generic or impersonal message.

    2. Choose the Right Review Platforms

    If you are genuine and earnest in your request, there’s no real downside to using any of these platforms: email, social media, or SMS texting. You will want to consider how you do this and who you target. If you have some clients that feel more important to you, reach out personally to request an honest opinion. However, you will want to start a campaign using any of these platforms to reach as many people as possible.

    3. Simplify the Review Process for Clients

    This doesn’t apply to the personal approach. When you contact someone one-on-one, you will ask for an opinion. However, if you do something on a larger scale, like posting a template on your website or social media accounts, you need to make sure that it is easy for your clients and customers to leave their reviews. You do not want them to figure out what forms to fill, go through an arduous login process or be frustrated by required documents.

    It is advisable to provide clear instructions on leaving a review and make it as easy as possible for clients to offer their thoughts. This could include providing a direct link to your review page or simplifying, leaving a review on a specific platform.

    By leaving a review, you will invite more people to give you honest feedback, which looks great to other customers visiting your company and will provide you with input that can help your business in the long run.

    4. Focus on Client Satisfaction

    So, yes, you will receive reviews ranging from great to bad. It is a part of being in business. But you should reach out to your clients, who you know are pleased with your product, before opening the forum to others. This is especially true if you are a new or young business. A bunch of good reviews will look great for you and incentivize others to work with you and more people to shop at your shop.

    This part of the process should be personal. It is best to reach out to those happy with your services through email, social media, or text messages. Another positive of doing this is that you can strengthen your relationship with your client. Once they see how much their opinion means to you, they will probably think even more fond of you and your business.

    Show Appreciation for Honest Feedback

    Once your clients and customers have left you a review, don’t leave them hanging. Thank everyone who leaves a review for you, even if it is negative. By responding graciously and promptly, you show your clients and customers how much their opinions matter. They will be more likely to request your services or buy your products.

    Acquiring honest feedback from clients is vital to personal and professional growth. It requires creating a trusting atmosphere and utilizing effective strategies to make it easy for clients to provide their evaluations. By prioritizing success and responding to client feedback, you can further solidify the trust and relationship with your clients. As you implement these organic methods, you will be on the path to gaining the valuable insights required to continuously improve and excel at your work. Take the steps towards growth, as the truth can often be the best teacher.