Fox News Is Full Steam Ahead With Audience Buying And RTB Offerings Says VP Steinberg
Jeremy Steinberg is VP, Digital Sales & Business Development, FOX News Network.
Late last week, Steinberg offered an update to AdExchanger on his company’s efforts in the online audience buying space.
AdExchanger.com: Last May, you discussed with AdExchanger.com some of the things you were doing on the product side to address audience buying. How has it worked out?
JS: Really well, and – within the next couple months – we’re going to be rolling out a fully-revamped audience insights suite of services for our advertisers, which will provide enhanced targeting opportunities for audience, as well as context.
It’s equally important to marry the two together and is a key differentiator for us. This is a big investment in our business and in our future.
We’ve known for quite some time that we have by far the most engaged audience in news, and the numbers in comScore really speak to that. We’re investing in new technology because we want to prove it to our advertisers that our advertising works.
We’re doubling down and offering robust segmentation of our audience so advertisers can dive in deep to reach their targets, or, even better, to find out who their ads are performing best against, and then optimizing accordingly.
Will the focus of this product be on PC-based display? Mobile, video?
It’s focused on [PC-based] display to start. We’re certainly going to explore expanding it to other channels down the road.
Any trends you can share that you’re seeing with display today in your business?
There’s a lot going on in this area. There’s the direct, and indirect.
On the direct side, we’re seeing increased demand from the prior year, and one of the reasons for that increased demand is my team is out in the marketplace proving the value of our inventory. We’re doing that through our investments in custom solutions, and in ad technology. We’re talking about audience targeting about real‑time bidding. That’s something that has been of keen interest to our clients.
In addition, my national team is out there talking about how we can activate campaigns socially. We believe all of these solutions are differentiating us from the competition and the general Web. That’s why we’re seeing great demand.
Read more: AdExchanger
Videology: Connected TV Ads Have Great Completion Rates — And High Prices To Match
Given the nascent quality of connected TV advertising, it’s hard to really offer a substantive comparison between the value of such placements versus the comparatively more established PC-based video and mobile ads.
But you have to start someplace and Videology (the video ad network recently formerly known as TidalTV) has a few stats that appear to offer further evidence of the complementary quality of connected TV media buys as part of a larger video ad strategy.
Since there’s currently no uniform way to “click” a connected TV video ad the company’s study (pdf) discusses the value of video completion rates (VCR) for ads seen on wifi-enabled televisions.
The number that jumps out about connected TV ads is that it has a 110 percent video completion rate over regular online video. As if that we’re special enough, mobile video’s completion rates are around 10 percent lower than ones seen on PC-based web video ads. And the prices for ads across those devices tend to reflect that.
As Videology notes, the divergence in completion rates between mobile and connected TVs make obvious sense: mobile phone users tend to be on the go and given 3G buffering, people give up on a video that doesn’t load in a matter of seconds. With wifi-TVs, users probably are planted on their couch and home connections tend to be infinitely better than access a user can get on a street or a moving bus/train.
For an advertiser looking at click-through rates, mobile is still a very good addition, as smartphones deliver a 350 percent CTR increase for an average price increase of 30 percent. That’s a very strong, over 10 to 1 ratio.
If ”engagement” like video completion is the main aim, connected TV delivers improved completed views at a ratio of 2 to 1 compared to cost increases, which is roughly 54 percent higher than online video prices.
But do these improved rates equal the cost required to reach them?
Videology just looked at eight campaigns — it doesn’t identify them further — and found that using multiple screens showed brand lift
increases between 70- and 300 percent, while the online video campaigns showed brand lift in the 15- to 130 percent range.
On average, multiple screen campaigns using online video, mobile and connected television screens showed average brand recall rise 9 times higher than those relying solely on online video.
Read more: TVExchanger