Blog :

The power of multimedia convergence

The power of multimedia convergence

The diversity of mobile devices has increased the way information is spread across society. No longer do individuals rely on only a single device as their data source. The increasing volume of mobile devices used by any one person allows individuals to constantly want to check the latest trends, follow the latest celebrity, or look at the latest technology across all their devices. The melding of media is starting to be practiced by many.

“Simply put, media convergence is bringing together different media platforms to support one single campaign or promote a product.” – Gerhard Jacobs writing for Target Marketing

What is the power of multimedia convergence?

A vast majority of consumers are cross-device users regardless of age demographic and mobile device usage is on the rise,” according to Millennial Media. Because information is at our fingertips and individuals have to have the latest technology trends in their hands, there is no secret that multiple device users exist. In addition, individuals are more likely to choose a mobile device over a desktop to search the internet or just for enjoyment.

Millennials (Gen Ys) have definitely changed the way individuals view information on the internet. These individuals are at the forefront of the way information is received and will definitely continue to pave the way marketing and advertising companies deliver their product or service to the general public.

Great power lies in combined media sources; it allows for different mediums to display and send the same message. Because of this overlap, individuals are prone to look at multiple devices throughout the day. The question becomes “Why not streamline those messages to show similar images and branding pieces?” From the public’s standpoint, the increased convenience of information provided by converged stories makes using the media a better experience.”

Why is this such a powerful tool for marketers?

Being engaging with the audience is something that every marketer needs to keep in mind when creating content. The audience wants to know the latest, up-to-date information about their favorite product or brand. By displaying the same message across different platforms at different times during the day/week will help reach different audiences at different times in different ways.

Industry revenue resources will drive the deliverance of the messaging and will help marketers to gauge how to reach different audiences on different platforms. Of course, the difficulty will come trying to figure out rotation of advertisements and trying to figure out the best times to display those advertisements.

So marketers are faced with a multifaceted chess game – how, where, and when do place your content in a dynamic marketplace? How do you reap the greatest ROI with constantly revolving players?

Programmatic media buying

Programmatic media buying

The ability to present the right advertisement, to the right person, at the right moment is priceless. Computers have forever changed the advertising landscape. They have brought together all of the key stakeholders in a place of efficiency and finesse. This is called programmatic media buying (sometimes simply referred to as ‘programmatic’). Its simple beauty is founded in highly complex math. This is the computerized, mathematical purchase and sale of advertising space in real time. Fluid and seamless; it presents seemingly effortless connections between the consumer, publisher, and advertiser.

It is more than just the computerized buying and selling of ad space. It’s an interactive relationship between all of the players in the online advertising world. One definition is “the automated method of buying digital advertising in which supply and demand partners make decisions on a per-impression basis and adhere to business rules as provided by the operators of each platform”. Defining the inter-relationships between the stakeholders can be difficult. A group of industry experts offered their insights to help define the process for the layperson.

Simply stated, this process levels the playing field for companies of all sizes. If two companies have the same amount of funds for advertisements, ‘Bob’s Key Shop’ can have the same market reach as a ‘Target’.

This process provides an established pathway allowing all parties to reach highly focused goals. Companies can focus their advertising budgets on an exact audience. If they need assistance in defining their target audience, they system provides the support and data to bring the parties together. Long gone are the guesses of “how do I get my audience to notice my business?” A focused approach delivers data-based results.

Programmatic has dramatically changed the marketplace for everyone. For clients entering the marketplace for the first time, the system is tremendously beneficial. “Programmatic buys are a good thing for our clients when it comes to paid media campaigns, (meaning SEM, display banners, desktop, and mobile marketing) along with traditional tv campaigns. It allows us to get inventory which normally wouldn’t be available to the client, at an affordable rate. It’s definitely a good thing for paid media campaigns.” – William Belle, Chief Colure Advisor.

The system hasn’t always been embraced by everyone in the marketplace. This response is from a blog posting from just five years ago:

“Sounds like another thing for large companies to spend more on staff figuring it out than they’ll ever make/save on ROI, and another thing for scammy marketing companies to sell contract services to small businesses. In 3 to 5 years, the fad will have passed, some lessons will have been learned and the smart businesses will come and implement changes and software then. My ROI is not a beta test.”

Over $46 billion will go to programmatic advertising in the US this year, according to eMarketer’s latest programmatic forecast—about $10 billion more than last year (2017). That means 82.5% of all US digital display ads will be bought via automated channels in 2018.

Some of the concern is based on who the end consumer may actually be. “There is some skepticism of Programmatics because we don’t truly know if a real human is absorbing the content,” says William Belle, Chief Colure Advisor. The focus and delivery are there, but it’s impossible to gain a definitive assessment of the message consumption. The fact that a human is still the ultimate consumer leaves a variable in the equation. The true level of message absorption can never be accurately measured. Like they say, ‘you can lead a horse to water, but you can’t make ’em drink’.

Despite voices of concern, the marketplace performance of programmatic purchasing has been well established. The significant growth in market share has provided the viability that few question.

If you want to discuss entering the marketplace with your business, contact Colure’s project managers to see how programmatic media buying can assist your company.