The gathering and structuring of first party data will be the engine of the advertising world.
Collaboration is key, the Future of TV Advertising conference was told in Sydney, during a session titled Local media rising: Navigating the digital landscape against global giants.
TVNZ’s Jodi O’Donnell, Operative’s Ben Tatta, OMD’s Sian Whitnall, Paramount’s Rod Prosser and Group M’s Melissa Hey discussed the importance of local media and first party data.
O’Donnell thinks a lot of traditional broadcasters are becoming digital businesses, which makes competing with global players easier than before.
“The opportunity for the local players to work together is around measurement, but it's also around content rights. I think sports is a really good example of that,” she said.
“There’s definitely opportunities that rise out of first party data for us to think about again, and lean into that conversation across the industry.”
Tatta said the first party data helps brands define an audience and validate their ROI.
“Underneath universal ads is basically first party data, wallet broadcaster and streaming services linked together so you can measure at a census level,” he said.
“Historically, the broadcasters have been disintermediated from their CRM data because they’re going through distributors who kind of own the customer relationship.
“Broadcasters now have a growing base of first party data that’s all authenticated. It’s real people. It’s not some programmatic ID model. It can also be linked together.
“So I think organising principles like universal ads, whether it's formally or informally, are great examples of being able to stitch together a full picture because it is very fragmented and siloed.”
Hey said first party data makes the buying process easier and measures the impact of premium content across the full funnel.
“Someone pointed out that everybody is a competitor and everyone’s a collaborator, I think that should be how locals look at it,” she said.
“It's making it easier for us to transact and understand audiences, so bringing that together for us to navigate as a local conglomerate will ensure that there is a potential way forward.
“If you talk about any of the local players in linear TV, OOH or radio, it’s all based upon an estimated audience or eyeballs.
“An outcomes-based model would be an ultimate for an advertiser, so that everybody feels like they're in it together.”
Prosser said every business has a different agenda.
“Obviously the landscape is very different with multiple TV modes coming into the market,” he said.
“Certainly our view is that we should open the tent and keep the discussions going.
“So I think that you’ll see more collaboration, because the reality is this, we're up against different competitors.”
Whitnall said she’s been having “incredible” conversations with local partners about how
“First party data is the fuel that’s going to power exactly where we need marketing to go,” she said.
“We know that the most effective advertising and marketing come from delivering the best experience. And the best part of that experience is a connected ecosystem. We can’t achieve this without first-party data.
“We’ve had some incredible coverage with local partners about what we can access and how we can use it in a really compliant way to better the whole experience that we're giving our consumers.”
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