This week, Beet.TV’s event, “Going Local: Addressable TV Comes of Age,” gathered experts across the media industry, including TVSquared, GroupM, Effectv (formerly Comcast Spotlight), NCC Media, WideOrbit, Hulu, NBCUniversal and others. The event focused on the hot topic of local media, in relation to TV performance and addressability – particularly the strides that have been made and what lies ahead.
While much was discussed, here are the top overarching themes from the event:
TV Has “the Opportunity to Thrive, Not Just Survive”
For too long, TV has had to play defense against digital’s perception as the more effective medium for advertisers – but not anymore. The TV industry is changing the game and playing offense.
As Ashley Swartz, CEO & Founder of Furious Corp. (who also moderated much of the event), asserted: “Television, to me, has the opportunity to thrive, not just survive.”
A major topic of discussion, Effectv’s newly released report revealed, among other insights, that TV viewership is, in fact, increasing. Specifically, it’s celebrating a two-year high. With so many people still highly engaged in watching TV programming across platforms, this report has helped cement why TV is such a formidable marketing channel.
Proof of Performance Drives Accountability, Which Drives Spend
When something is proven to work, people are more likely to trust and invest in it.
At the event, TVSquared’s CRO, Jo Kinsella, elaborated on this idea, explaining how proof of performance drives accountability for advertising campaigns which, ultimately, increases investments:
“We’ve seen advertisers double their spend, double their commitment … when you show brands that TV works, they spend more on it. We can measure [TV] and make it accountable. That’s the game changer.”
The announcement from Effectv, introducing its new product, Instant IMPACT (powered by TVSquared), echoed this same theme throughout the event. It shed light on the idea of the full-funnel solution for TV, from awareness to consideration and intent, and then actually measuring that sale.
Effectv’s CRO, Brendan Condon, shared how they think about that for the local marketplace – attributing the viewing and the airing of the commercial and how that drives web traffic.
The ability to maximize TV performance to drive outcomes for advertisers is already here. If the industry can work together to bring that forward, the dollars will follow.
Less Talk, More Action — The Data and Tech Are Already Here
Throughout the industry, there tends to be two common trends: clinging to the older, more traditional ways of TV advertising and talking about what can be done to improve existing methods – without taking action. The Beet Retreat called for an end to this mentality.
With TV itself evolving, action and adaptability are key. As FreeWheel’s SVP & CRO, Brian Wallach, said: “We are seeing more fluidity across linear and digital … you have to be nimble to take action against [TV’s] changing trends and work with partners who offer flexibility to pivot campaigns.”
Meanwhile, Jo stressed the importance of more individuals “saying yes” to proof of performance and embracing TV’s evolution into a performance-marketing channel: “Use the data. Use the tech. Drive results. Simple.”
Together, We Can “Make a Market”
Even with so many companies and individual viewpoints present, there was an emphasis on how beneficial it will be for everyone to work together to create a more valuable ecosystem – whether it’s by formally defining standards or recognizing the importance of data-based insights.
GroupM North America’s CEO, Tim Castree, expressed his desire to see a “simple standard … [to] measure all screens on an impression basis.”
Later on, Andrea Zapata, Effectv’s VP of Research and Insights. said: “We are in the business of making a market. We need to get [the] marketplace woke to the fact that we have to use data at all parts of our offering.”
Dollars and Focus Are Coming Back to Local
TV’s role and relationship with digital was threaded throughout the event, with mentions of how data, addressability, better standards and the emphasis of performance can help the industry compete with walled gardens.
It’s no secret that local has come under pressure from digital channels where performance has been relatively easy to prove. The rise of attribution solutions that focus on performance and the use of data for driving more optimization and targeting for TV can help push dollars back to local advertising.
Watch Attribution Bringing Ad Spend Back to Local TV to hear more.