Category Archives: Programmatic Print

Advertising is Dead

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I’m sure on a Monday morning, at the beginning of a long week of anticipated sales and prospecting, the last thing anyone would want to read is that their industry is ”dead.” I’ll admit ”Advertising is Dead” is a strange title for a post, especially given that Mediabids is in the advertising business and our last blog post title happened to be  ”6 great ads that prove print isn’t dead.” Obviously advertising isn’t dead but the way many people still think of advertising -meaning the way many of your clients still think of advertising- is very much dead. This is particularly true at the local SMB level where advertising for the purposes of reach (i.e. to get the word out or simply build awareness) is very much dead.

As we all know, digital has been disrupting the advertising business for many years now. To date, the greatest disruption has been to the newspaper and magazine business but lately the bigger story is the disruption in local TV and radio. SMBs have increasingly relied on digital advertising channels – first it was local search ads and now it’s search plus social media advertising. Why?

It’s not that fewer people can be reached by local TV and radio, quite the opposite.

It’s not that local TV and radio have lost all their considerable powers to influence an audience.

It’s not necessarily about the cost of creating TV and radio spots (although for some SMBs this may be an excuse they frequently give to media sales people.)

It’s also not even about the cost of buying local TV or radio time (although it’s not inexpensive.) If advertisers could better measure the impact of local TV and radio, the sticker price would be less of an issue. In other words, what advertisers don’t want to pay for is the unknowns.

Earlier this year, eMarketer announced that digital display ad spending would exceed search spending for the first time. In 2016, digital display ad spending is projected to increase 23% while search spending would grow another 10% this year. The reasons for the growth in digital display are several: the improvement in the user-experience online (or UX as the fancy people call it); the explosion in smart phone adoption; and perhaps most importantly, the ability to better qualify (and CONVERT) traffic and customers through the use of video, rich media and native advertising online.

As I said, advertising in terms of reach is dead. But advertising in terms of conversion, as the eMarketer article suggests, is booming. It’s all about conversion now, especially at the SMB level. Automakers, soft drinks and snack makers, national quick-serve chains and some retailers still need big reach to drive people into store locations. However, many SMBs are much more interested in the conversion of digital traffic to paying customers. This means a mix of media that allow SMBs to qualify callers and site visitors -such as digital display, search, email, social media and PRINT.

Yes, I subtly added print advertising to the list.

It’s true. Print advertising still has a big role to play in our increasingly digital first world, especially for the SMB market.

At Mediabids, our advertisers have conversion rates that are well into double digits (the average is about 40%.) So advertising, as we have long known it, is dead. But what advertisers want from their investment in advertising hasn’t changed much at all – they want to pay for customers at a cost-effective rate. This means that digital and print advertising is most relevant and still kicking.

Post by Jim Jinks

 

Print Ad Success, Happens To Be Just Like Fishing (no kidding!)

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I just returned from my annual trip to Alaska, where I did a lot of fishing with my kids. Stay with me for a minute, there is a point to this that relates to marketing in newspapers. I believe, that what I have learned about fishing applies to marketing in newspapers.

Not surprisingly, my kids all like catching fish more than they like waiting for fish to bite. The problem is that a big part of fishing is waiting (I always tell them, “that’s why they call it fishing, not catching”) and having faith that the fish will respond sometime soon. If my kids believe that we have gone to a bad spot or that there is no hope in trying, their attention to detail diminishes. Instead of checking the bait every few minutes, they check every hour. They don’t hold the rods, they put them in the boat’s rod holders. They are less likely to try different techniques or pay attention to where their bait is positioned. In short, fishing is a self-fulfilling prophecy. You are unlikely to be successful, unless you pay attention, which is easier to do when you believe that success is possible.

In an effort to counterbalance the inevitable impatience of children fishing, for the past several years I have manufactured a new “secret spot” that some unnamed but very wise old friend has told me about. I tell my kids that this friend caught monsters at this spot and their enthusiasm rises to a fever pitch. They believe that this spot will produce fishing glory, so they fish harder, are more attentive to detail and are more patient than they would be otherwise. So it is no big surprise that my fictitious “secret spot” always outperforms other areas that we fish.

Fishing is a hard thing to scientifically quantify and there is no doubt that a certain amount of luck factors into a good day of fishing. However, I firmly believe that there are many factors that a fisherperson can control and the expectation of success creates an environment where success is more likely.

Now, stay on the line, I am about to set the hook – marketing in newspapers is very similar to fishing.

As you probably know, we do a lot of response-based print marketing here at Mediabids. In response-based marketing there are two parties who are involved in a transaction. First, there is the advertiser who is trying to generate response for their goods or services. Second, there is the publication, who wants revenue from the results they generate for that advertiser.

Too often, I believe, all parties (and I include Mediabids in this group) don’t expect success for a specific ad in a specific publication. They want success, but they don’t expect it. All parties involved act like my kids when they are fishing in a spot they believe is unlikely to yield results. But attention to detail generates better results in fishing and in newspaper marketing. Maybe the ad would perform better with a different offer or at a different price point? Maybe the ad would generate more response if it ran in a different section of the publication or at a different size or on a different day of the week? Often it is the little things that determine the difference between an ad performing well or below expectations. However, if success is not expected, it is easy to ignore those little things, which only increases the odds of failure. It is too easy to say, “This ad isn’t going to work.” and not try anything. It is like my kids saying, “There are no fish here.”

We should all expect success from print advertising. We have all seen enough success stories to know that print can generate large numbers of highly qualified results. It should happen with every ad we place, but it doesn’t. It is the job of Mediabids, the advertiser and the publication to expect and demand that ads perform well.

Post by Jedd Gould.

Programmatic Print, Part 1 – An Overview

Today we bring you Part 1 in a series on Programmatic Print advertising.

For some time now, everyone in the industry has been talking about programmatic.  Programmatic media is defined as the automated buying, selling, and optimized delivery of media.  Its most commonly used to refer to buying online advertising through an ad exchange to target specific audiences.

Many of the newspapers we work with are now partnering with digital agencies to monetize their online platforms by offering programmatic online, or bringing digital people in house.  We’ve seen these programs achieve varying degrees of success.  Though it seems like an obvious complement to their print offerings, for many newspaper salespeople there is a vast divide and language barrier between their expertise and the world of digital advertising.  But, they’re trying.

With this change, newspapers essentially become an agency themselves, particularly to local advertisers without the resources to hire an actual agency.  If an advertiser’s local newspaper salesperson can offer digital programs (programmatic, in addition to display) to go along with their print advertising, they become their liaison into the world of online advertising.  They are essentially designing and executing a key component of the advertiser’s marketing plan.  As their first point of contact, the newspaper sales rep becomes their entry point into the online market.  Whether or not this positioning is best for newspapers is still up for debate.  But again, they’re trying.

But what about programmatic print?  What if there was an opportunity to automate buying audience groups in print?

Some publications are already doing this – over a year ago, news broke that Time Inc. would begin selling ads across a programmatic platform.  A private exchange grouping their publications and subscribers into audience groups.

But where is this now?  We’ll continue to explore the evolution of programmatic print in posts to come in this series…

Post by Darcy Mauke.