Digital Sea Change: 2023 Marketing Trends to Know
Hello everyone! Welcome to the Basis Technologies Webinar Series. My name is Ryan Manchee. I lead Brand Marketing at Basis Technologies, and this is a webinar day. We're so happy that you're here with us.
Quick little note- before we get started, we jump into things: For the last two decades, at Basis Technologies, our mission has been all about creating the most comprehensive media and automation and intelligence platform in the industry, with the goal to improve the lives of the people working advertising, driving peak business operations and marketing performance, for both agencies and for brands. We really consider ourselves to be the experts in adtech, not only building Basis from the ground up, but we partner with the top media publishers. We integrate with all the major data providers and we leverage billions of dollars in media investment, for best practices and best in class service. We are comprised of an amazing team of nearly a thousand media specialists, programmatic prodigies, adtech visionaries, and all-around digital experts, who provide our clients with Raving Fan service at every stage of any campaign. I do want to note that a recording of this webinar and the slides will be shared out with you and we're going to have some time at the end for questions so, if any, at any point if you've got some questions go ahead and plug those into the Q&A tab, and we'll see what we get through.
And again, we'll have some time near the end. So our presentation today, before I get to introducing our speakers, titled "Digital Sea Change"- all about the trends for 2023 and beyond. I'm pretty excited about my two guests, hopefully some familiar faces and names. With me, and the fact that we're together in-person is kind of special, so Noor Naseer and Kaitlin O'Brien, who are our Media Innovations and Technology team.
Beyond their, I think similar, background as far as like youth prodigies within figure skating as I learned yesterday, true story. They really spend their days talking with brands, talking with agencies, talking to the different partners that are out there, and the trade orgs, really diving deep into the research to provide key education on what those trends are and those hot takes within the industry. So, with that, I'm going to hand it over. I'll be on camera kind of, off a little bit, but handing it over to Noor and Kaitlin to really drive the show and kind of talk through what we're in, what we can expect for 2023. Excellent.
Thanks so much, Ryan, for the intro, and thanks everyone for joining the final webinar of the year, in which we dive into trends. So, let me give you a little bit of background on the perspective we're sharing. Of course there's so many trends impacting the marketing and advertising world and we're just sharing a couple of them that we found to be particularly influential that we're going to see it taking off next year.
So, as far as an overarching theme, we've called this year's trends presentation for 2023 "Digital Sea Change." And for folks that aren't familiar with the terminology, sea changes are in reference to just some sort of like larger pivotal change that needs to take place. And, in this case, having to do with our industry and spaces in which that is occurring. So just to take us, and I'm just going to make sure I can go to the next slide, do we want to head over here guys? Yeah.
We've got advertising is in a state of recalibration, and when I say that we're in a state of recalibration, it has to do a lot with that digital sea change that we have also been exposed to. We're seeing a lot of need-to-see things that are familiar to us, that have been familiar in the digital landscape for quite some time, needing to move in directions that we historically haven't seen them move into. So, moving into like a new era for many things that we're familiar with in the digital space.
So, with that in mind, I don't know if this is advancing, yeah, (yeah). There we go, guys, okay so what are our trends? Let's not bury those. Let's show them right up front.
We're going to talk about four areas where we need to pivot, in relation to this change, and those areas include: the future of audience, audio, streaming television, and also getting back to basics. So, we're going to get into details about what we mean when we're speaking to back to basics in just a little bit. Let's go ahead and hop into this first trend over here: Reaching audiences in the future or the future of audiences. For quite some time now, here we go, we've been talking about the cookieless future and really now we've moved away from talking about the cookieless future into needing to talk about the cookieless now. And what that has to do with, is the fact that many cookies that we've otherwise had access to, even though Chrome is saying that they're not going to let go of cookies until some point in 2024, the volume of identifiers that we've been accustomed to having access to have already dropped significantly as you can see on the slide. We're showcasing the volume of identifiers have minimized by 50 to 60 percent, and why has that occurred? There's a bunch of different reasons: There's impact as a result of legislation.
There's impact as a result of just advocates for the data privacy space having expectations around this, consumer privacy expectations leading us down these pathways where we're losing cookies amongst other identifiers that are out there that advertisers and marketers have been accustomed to having access to, and what that means, from a larger standpoint, is that, let me see when I click one more time there, and I'm going off of this, sorry not to be the worst, everybody, we're doing this webinar live. I'm looking at this guy on the left over here. There are two major points of impact that I think we already have familiarity with, but the threat continues to loom and looms large in 2023.
So, we're concerned about audience targeting, and we're also concerned about measurement and attribution. So, thinking about this from a larger standpoint, how do we look at everything all at once, as far as thinking of opposing goals out there? So, many different players who are invested in what happens in the future with two different goals in mind: One of those goals being data protection - so, concerned parties in that space include regulators, we've got consumers who are concerned, and then in so many ways Big Tech. You know, Big Tech has gathered a lot of identifiers for a very long time, and all of us in the marketing and advertising space have been the beneficiary of having access to that type of data. And so their goal is to think about data protection differently and think about it seriously.
And then on the flip side, advertisers, whether we're thinking about ad tech, we're thinking about grants and advertisers or publishers, we're concerned about identity resolution— an identity resolution that we've long been able to have access to— it is changing, that's a part of this pivot. It's a part of this digital sea change. So, where there is commonality, is where the future is headed as far as the future state of advertising and audience. So, with that in mind, let's just take a moment to examine what does that mean for the future state of audience? And so I just want to get this build-up here, to highlight what a couple of those core consideration points are, and we're concerned about having the opportunity to be able to target people with purpose.
We also need to be able to, first, get that data, have access to data, create a value exchange, and making sure that we have clean processes in which we can gather that data, subsequently activate that data, and then finally analyze the impact of data that's being collected and leveraged differently, from a first party perspective and from an audience aggregation perspective in ways that differs from what we've long been familiar with. So, here is a quote that was released from an Economist, on behalf of the IAB. Let me get in a little bit closer here, I know I'm on camera, I have to do this, guys, in which he said, "If data is available in principle, it is hardly available in readily refined in usable form." And, so too often, we're having a conversation about the fact that, "Oh, we need first-party data."
Sure, we do need first-party data, but ultimately, we need to talk more about the processes to put in place so we understand what it is that we need to collect, and subsequently how we're going to go down a pathway of getting scalable data, and then subsequently leveraging it for a world without cookies. So, with that in mind, let's do an examination of what that workflow process should look like. Starting off with first-party data, thinking about the foundations, what types of questions do we want to be asking from a foundational perspective, and it starts off with a couple of kickoff considerations. We've got some questions over here, including, what are the resources that you have available now in order to enable that type of collection? Followed by, what is the data use case? Why do you want to collect the data that you're looking to collect? And how can you influence and enable somebody to give you that data with permission? And then finally, who is going to be responsible for managing and accessing that data? So, there needs to be parties and talent put in place to make sure that this data aggregation and consideration and segmentation is being taken seriously. And a part of that process is also thinking about the tech stack like what are the technologies that you have put into place so that all of these things, these considerations, can be put into motion? So, a couple of considerations include what type of data management system, or process, do you have in place, followed by an identity resolution mechanism? And there's a series of identity resolution mechanisms that are out there that are being considered right now. Frankly, no advertiser can lean on a single one.
There are a couple different things I think that will need to be added to a portfolio, but that's a second piece and in reflection for any advertiser, brand, or agency that's working on behalf of a brand or advertiser, and then finally, activation from an advertising, a paid media perspective. You need to have a DSP relationship so that those newly-formed audiences that you want to leverage, today or tomorrow, are ones that you're going to be able to leverage in real-time biddable environments. And then finally, thinking about the actual collection process itself.
So, over here just thinking about this in a couple different ways. We want to collect that data, we need to offer people an incentive in an environment that would be natural for them to pass information along to us. So that could include thinking lead generation right? You're offering something of value to someone and now you're going to collect that lead— really natural first-party data opportunity— or collection of some data. Own channels- getting people to download your app, getting people to come to your website and offering something to them in those spaces so that they can continue to enrich their relationship with you— you being a brand or advertiser.
And then, also, consideration for just general branding: How do you deepen a relationship with us? You want to be connected to our brand, again, offering an appropriate incentive but getting through this workflow process is absolutely imperative in order for advertisers to kick off how they want to brainstorm what this should look like for them. And I think advertisers need to really think about this seriously moving into next year. So, just an expansion as we refer to data targeting and this dialogue around being able to target with purpose, there are a couple of different things that people have already been considering, and we just want to reflect on some of those things. Things that are already easily-accessible, you know, this previous pyramid we went through, there's some complexities, you know, people haven't figured it out yet.
People need to get moving, if they haven't started, now. They need to start thinking about it but, what do we have on the table at this moment? Second-party data. It's been available but it's on the rise in big ways, because we need to turn to new alternatives. A big part of a second-party data conversation, has been retail media networks.
Even though it's been around, knowing that there are these massive efforts being put towards, not advertisers, but rather publishers. And also again, retail media networks collecting that data, making it available to brands and advertisers, that's a big area of focus and where I think more brands are trying to pivot and make sure they can gain access to data. Followed by contextual, I mean, I know contextual has been around. This isn't the first time that it's been suggested to leverage contextual, but I think contextual is going on steroids.
Moving into the future as we think about it in ways that go beyond, let's say, like keyword targeting. I think sometimes people conflate what they think contextual targeting really is, when now there's so many and more inferences that the algorithms are able to take away when we're thinking about the segmentation of contextual targeting in ways that we haven't leveraged, let's say, in the past 10 years that contextual has been available. And then finally, thinking about AI and ways in which AI can exist. I kind of alluded to the fact that, AI is something that can be considered in relation to contextual targeting.
I think AI, artificial intelligence, has many different applications today but more specifically, why are we using it for targeting, and why do we need to think about new means by which we can access it? It establishes an understanding of someone— maybe their interests, their behaviors, their lifestyles— without needing to know exactly who they are, and that's really the premise that we want to go after. It's "how do we not leverage cookies?" but we can leverage other types of technology and see what types of segmentations can net out. And expansion also, not just thinking about targeting, but also measurement and attribution. There are data clean rooms that people have been talking about.
Data cleaning rooms, this is not the first year that we're reflecting on it, but it's the first year that we're reflecting on it with more seriousness. I would say because oftentimes people think, "I don't know if that has to be a part of a paid media conversation," but just for an expansion on what exactly data clean rooms are. They're spaces in which walled gardens— your aggregated data— data that does not violate privacy requirements with advertisers, particularly relevant in a cookieless future. So, that's a really short description of what we can think about when reflecting on if data clean rooms could be a part of that tech stack that you need to be building out, followed by mixed media modeling.
So, marketing mixed modeling, mixed media modeling, you call it what you want, it's a throwback and it's something I think maybe Kaitlin's going to hint on later on when we get to Back to Basics, but as far as what it is, it's an analysis technique that allows marketers to measure the impact of advertising campaigns to determine how various elements contribute to their their goal. And for so long, we didn't want to use mixed media modeling. We thought we had graduated away from it, because we had pixels and tracking, in place, that gave us this one-to-one opportunity, and we're needing to go back as these new laws are taking effect in bigger ways and identifiers, like the cookie, are no longer available.
And then finally server-to-server tracking, which allows us to generate and store a unique identifier, without needing the browser. So, I think the repeated trend is that these are three big topical areas that are giving us opportunity to collect segments and audiences and also subsequently attribute for the fact that our advertising dollars are being impactful. But, we are just moving away from this web browser environment where we're seeing this minimization in our ability to not only target, but subsequently understand what ROAS is exactly looking like So to wrap up on section one over here, a couple of key points to think on, and it's a point I can make again and again, and I think people don't take it seriously enough, to be perfectly honest, because we don't really want to always believe that we're moving into this cookieless world. But it is happening, as I mentioned earlier, ad signal reduction is very real, also securing new data collection resources and workflows, figuring out what that looks like for your organization, or the organization or brand that you're working on behalf. And finally, executing data capture strategies. That's really an extension of that previous point, "what does that look like for the brand that you work on or the brand that you represent?" And thinking about all the different environments in which that collection can naturally happen.
So, that's wrapping us up on that pivot number one. We're gonna head into Sound, and Kaitlin is going to take us into that. Awesome, yeah.
And so, our second trend is Speed of Sound, as you've all seen on the screen and the reason why we're talking about digital audio, in particular, is because the ways that we consume and engage with digital audio at this point go well beyond the boundaries of how we would engage and consume traditional radio content. With that, we'll move into the next slide. At this point, we probably all experienced this. You've probably experienced this.
Audio is an on-demand channel and it goes everywhere that you go. So, it's feeling every facet of your day, it's supporting your mood and your activities, it allows you to educate yourself more on a specific topic, engage with people and with the culture and world around you, and in all honesty, like, we love talking about what we're listening to if you think about the fact that everyone was throwing up their Spotify Wrapped results just a couple of weeks ago. It really showcased how much we like talking about what we're listening to, how much we're listening, and, kind of, like, comparing notes with each other. So, highly-engaged audience, and really, it's those elements of the ways that we are personalizing our audio experience.
We are interacting with the content that we are consuming, and the people that are also consuming that same content are again, kind of swapping notes there, and it's leading to this elevated level of brain activity. So, the study you see on your screen is done by Spotify. They just released it in October of this past year and it's really just comparing the digital audio listening experience versus the traditional audio listening experience, and the brain activity that's happening in each of those environments. And so, you see on your screen: Each of those elements—engagement, emotional intensity, detailed memory—are significantly higher in a digital audio experience. And so, all of that brain engagement is ultimately transferring to engagement with the branded ads that are in those environments.
So, elevated mental activity leads to just more receptiveness to the brands and the ads that they're hearing in those environments and the digital audio context. On top of that, and naturally we are spending much more time with digital audio content, nearly everyone is listening to some form of digital audio content throughout their daily life. If you think about just time spent within the channel and comparing across all of the different media channels so whether it's print, radio, TV, CTV, a social environment, we're spending a quarter of all that time that we spend consuming media with streaming audio in particular which is no small percentage. Despite that fact, and despite the fact that we are more heavily mentally engaged in this environment and we are personalizing and choosing what we're listening to, advertisers are still only spending about two and a half percent of their digital ad budgets.
So, not even your overall marketing traditional and digital budget, but two and a half percent in the channel—which just means that we have massive opportunity for brands to insert themselves more and engage in this context or engage in this channel and just really take advantage of this audience and come alongside this audience as they're listening and really no pun intended, like, all-ears to hearing different messages. And when we think about audio strategies, it's important that we think about these differently than we have in the traditional environment. So, kind of our main go-to right now is to transfer a traditional audio spot into a digital environment, and that's definitely not wrong. That has its time and place and plays well in the funnel, but as we extend into these just more comprehensive or sophisticated audio environments, brands should really be thinking about their sonic identities.
So, it's a non-visual environment thinking about, "How do I sound in this environment?" just as much as "What does my brand look like?" And with these brands on the screen, you see, McDonald's, Intel, Apple. I'm sure all of you can think of these specific sounds associated with these brands. I'll play them each for you but they're going to come to mind for you or they will be immediately recognizable once I play them. [Sound playing] A little bit of an echo there for all of you. [Sound playing] And Apple. [Sound playing] And some of us may hear different Apple sounds, because we built out an entire portfolio of sound elements for us to, just again, immediately recognize.
So, it's that memorability that brands can really leverage, and should be leveraging, and tapping into especially as you can move those sounds across channels. So, of course, you can move your video components across channels, you can move your imagery, your branding, your logo, across channels but audio, again, has that really strong memorability component. And so, when you associate that with the other types of content that you're moving across channels, it just really cements your brand in people's minds. That's going to be especially important as we move from tapping to talking and what I mean by that is being moreso engaging with what we're listening to from a smart speaker perspective. So. no longer just leaning back and
selecting what we're going to listen to and then listen to it, but actually engaging back with that content and making requests of that audio content, and having a dialogue and you see that people are becoming more and more familiar with what this looks like. We're increasing the amount of tasks that we're requesting on the smart speaker, and that's really because smart speakers reduce friction. And for those of you who own smart speakers, you can probably have a quick mental game of, "what do I use my smart speaker for?" and we're just going to run through a few of those activities that we do.
And, of course, the first activity that we engage in on a smart speaker are entertainment-oriented: they're listening to music, they're listening to the radio. The next, serve more of a utility purpose, so setting an alarm, setting a reminder, asking the time. And we're also asking smart speakers for more information.
Our opportunities in the space are twofold: One is we already have opportunities to insert our brands into a smart speaker environment, particularly programmatically, but as we as consumers grow and as the technology grows and we become more acclimated to it and just familiar to it, we're going to be completing a lot more of these requests or like informational query-oriented tasks. And this is really where the opportunity gets interesting for brands. So, you are able to kind of extend your paid search strategy in like a Google environment into a smart speaker environment and really understanding, "what are our consumer asking for and how can my brand respond back?" "how can we fill that need for them?" Finally, we're going to move along and talk about podcasts because podcasts are having a seriously powerful influence on culture and for an example of this, we don't have to look any farther than the podcast Serial, which was released in 2014.
It chronicles the case of Adnan Syed, who was committed or he was convicted of murder, and because of just the pure audience engagement and investment in his story, this conversation continued for over almost the past 10 years. His case was re-examined, we had a lot of conversation on social channels: Reddit feeds, forums, there were documentaries made. So, just a high level of cultural investment and cultural engagement with his story. And, it ultimately led to it being his case being re-examined and he was actually released from prison just this past fall. So, just seeing that component of really strong storytelling and really strong engagement and people just investing in these podcasts and spaces and wanting to continue the conversation outside of them. And for brands that invested there, they are also associated with this high level of emotional investment and emotional intensity around the story.
Kind of in continuation of that, we just see that podcasts are really playing this key role in how we engage with cultures. So, there's over 4 million podcasts on Spotify now and that just means that there's a lot of niche content and a lot of content that people are consuming so podcasts are a big driver behind why we're spending so much time in audio spaces and it's really because we are in search of expanded knowledge bases and expanded information. It's a quick example on the right side of the screen, here, is just someone who is invested in a Sunday Night Football space like big football fan.
They're not just watching the games but they're also then extending that time spent consuming around the topic and a podcast environment and again to transferring that into a degree of cultural cloud: talking about that with friends, talking about that on social media, going to consume more content on YouTube, and this is really just an opportunity for, again, brands to be a part of that conversation, but also to carry that strategy across channels. So, having a presence in a Sunday Night TV football environment, being in podcasts related to football, you know what I'm saying, just a whole, well-rounded strategy that really plays off of this interest of an audience. Hit on audio really quick, we're gonna wrap things up with some takeaways and then I'll pass it back over to Noor to bring us into our next category or next trend. But, first taking off, is that nearly every American is now listening to streaming audio, so, we saw this to be highly true. The story behind that is that we're not just listening to streaming audio, but we are incredibly engaged with what we're listening to.
We're emotionally invested. Our brains are going to be mentally on and this is just an opportunity for advertisers to be in an environment where people are ready to listen and they will listen. Next, is to develop strategies that lean into consumer listening habits, and what I mean by that is just coming alongside people as they are listening to this content, understanding what are they listening to, where are they listening, when are they listening, and what does that mean for the kinds of messages that we're going to craft to reach them in these spaces? And the final takeaway is that brands should start to develop robust audio strategies, and this is twofold. So, one: that sonic branding, or sonic identity, element that we talked about. Just thinking about, are there any sounds or even just like quick catchphrases that we can associate with our brand that people are going to remember? The next, is thinking about that conversational search strategy and how you can leverage these smart speaker voice assistants and voice assistant environments a little bit more heavily, as you move into a broader audio strategy. With that, I will pass things back over to Noor.
Awesome. So, we're gonna move into our third trend over here. Our third pivot because this is definitely a trend that you have familiarity with, but it is important in new ways and we've referred to it here as streaming consolidation. I think there's a little bit less consolidation, a little more expansion, going on in the streaming space. So, to that point, let's take a look at the ecosystem, and I think many things on this screen might look somewhat familiar to ecosystems you've thought about in the past or that have been discussed in the last couple of years, but the thing that really sets apart this look at the ecosystem from streaming television and connected TV standpoint, compared with past years, is the fact that these brands are now all on the table for advertising opportunities.
I think for too long there was a disconnect when we would talk about the popularity of streaming consumption. There wasn't a direct correlation with where you could run at versus where people were actually consuming. And now we basically closed the loop there, where there's so many more opportunities to run ads in all those spaces where we are watching, maybe for too much time, a lot of streaming content. So with that in mind, let's take a look at something besides all these different numbers as far as the the different connected parties so this kind of speaks a little bit to that consolidation piece, who is connected to which ones of these brands. But without buying us down and getting into all the details there, we'll talk a little bit more about this later on. Let's just take a little bit of a look at this in the past, like what's something that has been discussed heavily? If you've been following the connected TV space for quite some time, you would know that, specifically more so than anyone, Reed Hastings, the CEO of Netflix, has said on many occasions that Netflix was never going to move forward with advertising.
It just wasn't necessary, and there are some reasons for that. I mean they were in a place of continued growth— many, many cycles of growth— year-over-year growth as far as volumes of subscribers and users, and they basically plateaued at this point. And I think anybody who has been staying on top of what's going on with the Netflix saga, you see that there's been quite a dip because things have eventually plateaued. Even though I don't know that Tim Cook came out quite as strong, Apple had also come out and said that advertising really wasn't on their roadmap, but the tune has really changed. I think we're going to see a lot of advertising opportunities. We are going to see a lot of advertising opportunities from both Netflix and Apple, moving into next year as it relates to their streaming products.
A big part of this conversation too is the fact that there's tiers—tiers in terms of there is still an option on the table for you to pay a premium dollar amount where there would be no ads. But these new players in the streaming space have an expectation that when they move into a world in which there will be advertising, that more of these subscribers are going to push themselves probably into the ad-supported space. That's where the vast majority of people are going to stay on is paying the lower dollar amount. So, the anticipation is that there is going to be a lot of ad-supported subscribers in the mix for both of these premium players. And here just a little play on the fact that, "what's that cost?" "what's the opportunity cost of staying premium versus going ad-supported?" And I think we tabulated it out, Kaitlin and I, that it's roughly the cost of like a nice burrito and, you know, sometimes when you think of something like going to Chipotle and, hey, guac is extra, sometimes guac being just an extra two bucks is just a cost too high that people aren't ready to take on. So with that in mind, we do think the expectation is that there's going to be a lot of people in that in that ad subscription category.
So, an expansion here, as far as what's happening and really just an expansion of that previous point, even though consumers say that they would not rather have ads, I think at this point where things have netted out with the economy, the economic downturn, consumers are looking to save where they can and so, here, we're looking at some of the ad-supported models that we're seeing unfold moving into next year some of these things have already been around, but let's take a little bit of a closer look. Two key pieces: one is AVOD. AVOD's been around for a long time. Oftentimes, we talk about subscription video on demand, compared to ad-supported video on demand, and so players like Hulu and Peacock have been offering these kinds of opportunities for some time. And it's true too for players, like Freebie and Tubi, where their claim to fame is that they came into the marketplace telling you, "hey, we offer free TV, which is secret code or not so secret code, for there's going to be a lot of ads."
And the popularity of these formats and the volume of ad-supported opportunities associated with both of them are plentiful. Also, an expansion moving into this year is the fact that there is now much deeper connection between these walled gardens or these content providers and actual adtech-supported partners. So, here we see Fox and Magnite, Roku and Nielsen, Netflix and Microsoft, Dish and Beachfront, just to name a couple of popular ones. And what are the implications associated with these partnerships that we're seeing, moving into next year and some of them that have already been established in 2022. and these are a couple of the reflections of what adtech prioritization is going to enable and offer to advertisers, including just programmatic enablement—the opportunity to streamline your transaction, not needing to wait to do things the longer way, the long-form way. The expectation is it's going to be a little bit more cost-effective and minimize the fragmentation of reaching out to each one of these partners individually.
And then there's also the opportunity for more data aggregation and activation. So, how do we go beyond saying and get an x volume of impressions I want to leverage more data?" And all of these players in the space it can be presumed or understood that there has been a lot of data collection, but there there are going to be new layers of data inference and/or data layering that we can leverage as we think about the types of concentrated audiences we want to reach with more precision. And then finally, I think this part is a little bit still to be seen especially since these are burgeoning days, but measurement and integration. Having enhanced transparency around where we're running and then also standardized metrics, and then finally brand safety and fraud protection. So, things that we have examined in the past that I think are going to come through in a bigger way as these adtech partnerships really launch moving into the future. And I also wanted to highlight a couple of different creative opportunities that we were expecting to see more of as we move into this new year.
Let me see if we can get these playing over here. Get this mouse. Here we go. So you're playing this spot for Dixie Ultra as you can see a deeper opportunity to see using your remote, what's going on with this particular product in particular. We got another example, here, for Listerine.
So we can see there is, Listerine has this 21-day challenge. There's a smart speaker so you can be heard opportunity. I know Kaitlin spoke at length about not just hearing, but rather being heard with audio spots. We can see some of these opportunities blooming into the CTV or streaming TV space as well. And then finally, one more over here. And you can see that there's an opportunity for you to actually place an order via a connected device, in this case, a connected television.
So, moving from a much more passive and lean back experience into an active one I know there's some controversy around this, "who all is looking to do this deeper level of engagement?" I think as it becomes more plentifully available and as consumers get more comfortable with engagement, assuming that they will, we're just going to see more examples of this existing in the connected TV space. There we go, a lot of buttons, yeah there's a lot of buttons over here, guys. Just trust we're working on it. Okay so I want to, like jump to the catch over here, like "where can we run?" "Where can we run now?" We're talking about these larger trends, but what are accessible opportunities networks, integrations, private marketplace deals that are on the table? There are a lot, a lot, of them associated with the big streaming players, walled gardens, content providers that we're all familiar with.
And then a couple of them are still on the horizon, like soon-to-be opportunities that can be available for people to leverage in real-time biddable environments. So, a lot to look forward to in a very near future. As far as takeaways on this section, streaming providers are really accelerating the opportunity to have access to these premium advertising opportunities that historically we were talking about, but that weren't quite accessible.
Followed by, there being this deeper familiarity, not familiarity just, but also a favorability with ad-supported, because of necessity, right? Like we do things out of necessity at the end of the day. Sometimes people might think they want to skip ads, but at the end of the day we want to do the thing that's going to be transactionally-appropriate for us. So, I do think there's going to be a big rise in this ad-supported content consumption. There's also going to be more of these advancements as a result of these partnerships between these walled gardens, or rather, content spaces that are offering streaming opportunities with adtech players, and it's also going to reflect, not just with better targeting and data opportunities, but finally also some new types of ad formats.
So, some more to come moving into next year. And with that we're going to move into our final trend with Kaitlin, as we get Back to Basics. Alright, let's get into things that was Back to Basics which is really just bringing us back to the premise of this entire presentation, and that is that we as an industry, and we as advertisers, are facing this digital sea change and the fundamentals of how we work and how we do our jobs are being upended. And a lot of you are probably asking yourself like, "what is my job going to look like in the future?" And to do that we have to take a step back and just acknowledge this Paradox that we've kind of created for ourselves partaken in and that is the fact that we are over reliant on these tools that have been over simplified so tools and tactics things that have made campaign planning launched activation easier which was a huge benefit to us but they also instilled this false sense of confidence and laziness in our media buying itself and we just were not able to or we don't often think to develop these comprehensive strategic full-bodied media plans that are going to be building brands for the long term and a good example of what this looks like and probably if you have been in the media buying space for a while you have partaken in Facebook's as platform and it's certainly not limited to Facebook but a lot of us have engaged in this platform so you probably know what I'm talking about but moving into the platform with your audience Persona your kpi your creative you were able to take that audience Persona put it into the interface and select I am going to be targeting people who are first-time homebuyers or in Market to buy a home and then I'm going to upload their ethnicity their demographics so age gender even at one point we were allowed to select their credit score and then you selected your kpi so let's say in this example it's going to be lead generation you upload your creative hit launch and then the system starts running your campaign and optimizing it in the background and that's all well and good and I again made our lives easier and it made it easier to anticipate and feel confident in success the problem is that these tools and these tactics are not going to be available to us anymore or they already aren't like the credit score targeting is just not available to us and the call out is that we need to be taking things back a step and thinking about how can we activate these strategic sophisticated media strategies that are not relying on these tools that ultimately um kind of take the mental work out of it so to speak and to do that we're going to focus on a News Network slides three pillars of better media strategy or better media strategy best practices and one of these of course is planning so thinking about how can we create these comprehensive long-lasting strategies that build up consumer favorability and brand loyalty ultimately to Brand protection and it's something that we've been talking about for a long time it is an inherent part of our work in the industry which is talking about how we can better use brand protection strategies just do it our investment and then finally we'll touch on automation which is just helping us to alleviate some of this menial work that we're doing so that you can pour that time back into these comprehensive strategies and brand protection strategies first I'm going to start things off so this sounds really ominous we're talking about the periods of bad media strategy but we're going to talk about the bad foot we can talk about the good and how we can flip the bad on its head in order to walk away with stronger media planning strategies and implementations so one just this failure to face the problem and what does that mean in short it means that we are not foreseeing the challenges that could come up as we execute and activate our media therefore impacting performance two mistaking goals for strategies so again the Facebook interface example is a really great example of just thinking that you know I've uploaded my creative I've reached my audience and I've launched my campaign and now we're optimizing towards this kpi that's just executing from point A to point B it's not necessarily A well-rounded strategy three scattered strategic strategic objectives and this can take a couple of different forms one is either just not aligning kpis appropriately to the channel that they are running within or not orchestrating those kpis across various channels so you're moving someone through the funnel and two is kind of a contingency or a part of that is that just thinking about kpis and maybe not subconscious or subconsciously not acknowledging that we have this expectation of all of our channels to achieve the same kpi which is ultimately a return whereas or like a conversion event four cycles of recycling so this could be a campaign itself so just hitting relaunch or repurposing a campaign and not really iterating on it and also just creative I think we have a tendency to carry creative across channels because it feels flexible but in reality we should be doing more with creative how do we slip those down their head and we're going to start things off with of course the inverse of our first Peril and that is to understand your challenges and a great illustration of this is coinbase you probably all are familiar with the app that they were entering the Super Bowl it was a QR code that bounced around the screen the challenges that coinbase failed to foresee were that their website was going to crash because it was so overloaded from literally this year going with people watching the Super Bowl and scanning that QR code the next challenge that they didn't foresee is that people are going to need to be educated on how to use their product and how to continue working with that brand or leveraging that brand once they converted on that QR code this ultimately impacted so it seemed like coinbase had short-term success but in the long term that campaign kind of fell flat like people just abandoned the app you thinking about how to orchestrate your channels and kpis so we're going to take an example from quip if you are a heavy podcast listener like I am you may be familiar with gitquip.com that sticks in your head and you're like you know what I do need a new toothbrush so
you're going to go to their website but you get distracted maybe your dog comes in all muddy and you're like I gotta go and so you bounce from that website session so how can quick re-engage you on a different Channel once they recognize that you're going to be more ready to spend some time with their brand and that is going to be in an Instagram or a social media retargeting environment and they're going to offer you an incentive to go back to their website and convert on that product so coupon so just thinking about like what is the holistic orchestrated strategy where I can piece my kpis together and have them hand off to each other three establisher baselines so just using the available metrics to you to establish what is the expectation that we can have for this campaign and then you can better set expectations around performance goals what kpis you need to set so again just leveraging that data to your advantage to start things off on a better Foundation or of course is don't recycle reinvent and we saw a really great example of this in what Noor shared with the streaming TV environment where you're not just running a TV spot at this point but you're able to do more with that creative format um and on the screen here you see the inverse of that where Tick Tock and Instagram allow you to make a video format out of just static images and that really just doesn't jive with the way that people are used to especially in a tick tock environment looking for the ways that they're going to engage with content it's not the content experience that they expect we rounded things out with planning that was a very quick dive into how to improve your planning strategies and now we're going to move into our second Back to Basics principle which is brand protection and again we can probably be asking ourselves why are we still talking about brand protection um don't we have this solved this is kind of an old topic and the truth is that we obviously don't have it 12 because we're losing nearly 70 billion dollars to ad fraud in 2022 which by the way a third of that is going to come from the US so the problem is still very much a prevalent as new channels and tactics arise so do Bad actors who are going to take advantage of how they can monetize in that space on the other side of that is the fact that consumers are going to be translating their bad or their core content experiences or low quality content experiences to the brands who appear in that space so there's a lot at stake there but at the end of the day we kind of still take this passive position or The Stance when it comes to Brand protection and this takes two forms one is set it and forget it so taking your strategy and being like we have Grant protection taken care of it's good to go we're going to apply this to every campaign but we're not going to revisit it which leads to knee-jerk responses or it's not having a strategy to begin with leads to knee-jerk responses where a crisis comes up some celebrity goes off the walls or a large geopolitical event occurs and that is just an unsafe environment for your brand to be in so two things that kind of put us at risk when it comes to Brand protection and how can we make sure that we are not Tina Fey or that cat typing frantically on a Friday solving a fire drill um so ways that you can take protection and protecting take action on protecting your brand and these are adapted from the iabs brand safety checklist if you want to know more you can go check that out on their website but we're going to hit on just a few key points from that checklist and the first is to level set with clear objectives so understanding for our brand specifically because every strategy should be need to the brand that is implementing it understanding what are our tolerances and what are our thresholds for brand safety where do we stand on geopolitical issues where do we stand on Health Care related issues do we have a low tolerance do we have a high tolerance the next is to get to know your tools so it's very much that goes along with the first step and that allows you getting to know your tools allows you to put that tolerance threshold or that tolerance portfolio into action and thinking about what are the standard and the advanced tools that we have available to us in order to implement that strategy it can be anything from previous filters from like up here 39 or a comscore being able to protect the inventory even before you run on it so looking for inventory that's as text verified and then moving into some of those more standard elements like a domain list or like a PMP or a programmatic guaranteed deal and this is something that we at basis I think Ryan alluded to this a little bit in the beginning but this is a high priority for us it's obviously still a big issue and so we are constantly seeking out the best ways to optimize our supply path to work with the best vendors to make sure that our clients are as protected as possible around so brand protection for us and we're going to close out our Back to Basics Trend with talking a little bit about Automation and media buyers if you're out there I know you feel busy especially this time of year but you can probably find yourself asking a lot like where did my time go like you get to know today you're like I have no idea what I did what did I do that's probably because you're moving between several different platforms on average we're using nine different media platforms to execute our campaigns manage our campaigns monitor performance and we're also spending about six hours on low value tasks so it could be everything from communication components billing reconciliation naming conventions add-ups ICU you're probably spending a lot of time on naming conventions and tag generation so how can we move from these tasks or from this way that we are inefficiently spending our time into better spending that time and taking back our time and the first is to Leverage streamline planning tools to ensure that you have campaign success so thinking about things like automated RFP negotiation which is going to allow you to funnel all of your rfps into one campaign and then ultimately generate your line items generate your ad tag so just that whole process that was once very very manual is going to be streamlined the next is to produce higher value campaigns using sophisticated optimization Tech there's a lot of opportunities out there but the biggest ones are thinking about how can I use machine learning or how can I use algorithmic learning to have optimizations right now my campaign in the background finally Drive impactful data Discovery and deliverables with measurement capabilities so thinking about does the system that I use have API connections that are funneling data into one system and how can I leverage reporting dashboards to create better presentations that so that I can report out results to my stakeholders and all the automation just a quick Point here is that all the automation is saving us over a full work week per campaign so it's a lot of time that you can reinvest into other activities finally we're going to close some things out with Dr Basics takeaways I'll head on these really quick but just assess the potential pitfalls to avoid bad strategies so go back through that exercise and evaluate where can I improve on perils and turn them into opportunities to Steward brand Investments by fine-tuning brand protection so again revisiting your m brand protection strategy thinking about what it means for your brand and how often you're going to complete that exercise and finally Embrace Automation and allocate that time back into high value tasks like your planning processes and like your brand protection strategies you know just a couple more slides for you all and then we will jump into questions so we'll take a quick second here to wrap things up I know we've obviously gone long over here as Trends usually do take a moment to get through a quick quote over here on this topic every economic downturn has led to the creation or accelerated adoption of a new media whether it be TV radio or social media and in the and in the months ahead we should all keep an eye on what's next mentioned by a chief executive over at densu and really the point of this being that this has been a time of significant change it is a time of Economic downturn and although we are not necessarily anticipating the creation of a new media at this time we are expecting a new era for a couple of different channels and or techniques tactics that we've been highly Reliant upon existing in new ways and we really need to be ready for that change um I don't mean to Showcase a tweet like this one definitely a downer where we're highlighting the fact that Tech overall and also as second part aspects of AD Tech which are a part of these tech companies have been impacted and we're anticipating that that impact is going to continue to exist in many ways like trickling into all of next year but ultimately it's a time to get creative to really reflect on these trends that we're we're seeing and dive deep not wait uh for tomorrow and or troubles to show up and only working after it's too late so a quick recap on these uh different advertising digital C trends for 2023 one as it relates to audiences of the future we really need high value actionable data that's going to enable us to comprehensively capture data process that data and ultimately have activation processes in place so we got to get the good quality data ultimately we need to have a workflow in order for us to leverage it getting that plan in place second audio it's everywhere it's already been everywhere but it's going to go everywhere in new ways so really there's a Common Thread between both the audio and also the streaming television in spaces where we're seeing an expansion whether we're being heard we're more deeply interactive there's new layers of AD Tech that are coming into the equation so that's really something that we're going to see existing and exciting new ways moving into 2023 both for digital audio and for streaming television and then finally as it relates to going back to the basics I know that was a half C-section Hefty things for people to reflect on and all the labor that's going to go into moving into a future in which some of the things we've been so Reliant upon are not going to be prevalent in the same ways that they historically were but as we're seeing these changes take place across the ad tech industry as we see this disruptive change we really need to look back and really think about the foundations of advertising and I know it can be hard to dig deep into what we thought we could move on without but there's never been a better time to to go back and and think about those fundamentals so with that we're going to wrap and we're going to if we have a few minutes here we might jump into a question or two perfect yeah awesome that was that was fantastic we'll get in we'll get in tight nice nice and tight to kind of see what kind of questions we've got from the group we've already got a few that are that are in here I think just like quick quick recap as I'm kind of reading through these um it's it's fascinating to me kind of where we're where we're at the fact that like sounds like good news for advertising as a whole with like more streaming video more audio opportunities um still some questions maybe a little bit of concern especially um as it comes to addressability um and targeting uh and then also the measurement side that was a theme I think and almost like every single section how confident are are you know I've kind of put it to both of you but if one of you just want to take it how confident are you and some of these new Solutions you talk about the first party data the second party data the contextual targeting maybe some of these AI tools the you know Myriad of other identity based Solutions how confident are you that this is going to be solved in 2023. do you think that's going to happen is that something that people can expect I don't know if there's going to be a hard solve in 2023 right like we're just getting a really to a point where we're accepting the fact that what we have long been replying uh line upon is really going to be going away and now we're kind of fortunate in that there hasn't been this dramatic and sudden departure it has been a little bit of a slow drag which is getting people into that emotional state of saying I can no longer be in denial I need to prepare for what's to come so it's also the question of what Ryan just said is like is there going to be a solution I don't know what do you accept as a solution is a solution a reflection of something that needs to reflect exactly what we had in the past I think there's going to be a lot of Educ