Digital Media has had a good decade but it looks like things are changing and digital media owners and digital media buying agencies are going to have to evolve fast to stay in the game. The forces driving the changes in the industry are very different; on the one hand we have P&G, the consumer goods giant, on the other, the all-conquering technology of algorithms and big data.
For digital media owners the game changer is P&G. Specifically Marc Pritchard’s presentation to the IAB Leadership meeting in January. As Chief Brand Officer for P&G controlling more ad spend than any other organisation on the planet you have to listen to what he says. And what he said was simple and compelling; digital media reporting is not only opaque but in many cases fraudulent. It needs to change and if it doesn’t P&G won’t be spending with them anymore. Watch this all important presentation here.
The second game changer is a challenge to the existing digital media buying agency business model. To-date this has mirrored the old TV / press buying media model and relied on a chiefly manual approach to media selection, though they do us a considerable number of automated platforms to implement. Now companies are starting to ditch their digital media buying agencies entirely, replacing them with Ai media buying platforms such as ‘Albert’ saving costs but most importantly dramatically increasing the effectiveness of the media selection. Have a look at the future of media buying and implementation with Albert here!