Last Thursday, Quantcast hosted an Advertising Week event at Bloomberg’s headquarters, bringing together a diverse and established group of executives from NBC Universal, and top digital agencies Starcom MediaVest Group, Avenue A/Razorfish, and Mediaedge:cia. The two-hour event focused on how the move to digital distribution is driving industry change, and what agencies and publishers are doing to generate increased advertiser value in an era of ever-improving audience data and accountability. Over 200 people attended the event.
Plenty of interesting ground was covered. Konrad Feldman, Quantcast co-founder and CEO, began with Quantcast’s vision of audience activation and addressability. NBC Universal’s SVP of Digital Media, Peter Naylor, followed sharing first-of-its-kind daily and sport-specific insights from NBCU’s Quantcast-enabled Beijing Olympics research (part of the company’s broader initiatives). And the event closed with industry veteran Mark McLaughlin moderating an agency panel that focused on the buy-side: how agencies are dealing with challenges of audience measurement, implementation of targeting, and opportunities of addressability.
We’ll soon have video up from the event, which we’ll share here on our site. In the meantime, we’ve pulled a few select quotes from Thursday’s discussion:
“The promise is right on the horizon. We need to have the right people that are ready to really put data at the heart of what they do, as well as the right systems to bring that together on behalf of our clients to deliver a competitive advantage.”
– Lee Doyle, CEO, North America, Mediaedge:cia
“The good news in all of this change is everyone I talk to is still focused on the same fundamentals: the need to put the right message in front of the right person at the right time. If that’s the objective, then this kind of data is a godsend. We are simply getting into a new environment where the ability to target with a specific message at the individual level is finally starting to mature. One of the biggest adjustments we have as media executives is to get used to the idea that it’s not about the advertising unit anymore. We’re going back down to that granular thing: the advertising impression.”
– Mark McLaughlin, President, McLaughlin Strategy
“We have more data than we know what we know what to do with. I argue that it fundamentally all comes down to an understanding of the consumer. When we use all this data to understand the consumer, you can then build the website, craft the digital experience, build the creative, you can plan, buy, measure and optimize the media all with the common framework. We’re really taking all this data and translating it into people. What people want, and what people want to do. We found that when you can do that, it can be a powerful thing. But I will be frank: It is a real challenge to get people in the industry to begin to think that way to do things like data-driven creative or data-driven user experience.
– Andy Fisher, Analytics Director, Avenue A/Razorfish
“I like to use the analogy of a college quad. They lay down all the cement paths between the academic buildings, but by Spring you see paths worn between the grass. So the sidewalks represent where they thought people were going to walk and the paths through the grass represent where people actually walk. So with this data, we were able to understand not only where they were actually walking, i.e. where they were surfing, but we were able to understand who they were. That’s really important, it brings us insights and our advertisers value where we can pull back some layers and really help them understand what the audiences were up to and its going to help us change how we think about our business.”
– Peter Naylor, SVP, NBC Universal, discussing Beijing measurement experiment, in which his team leveraged Quantcast
As Quantcast CEO Konrad Feldman mentioned in his introduction, we’re very much at the beginning of witnessing the impact of the addressable media economy. We’re excited to be innovating in this environment, and look forward to more discussions as we move forward. Stay-tuned for event video and continue to share thoughts and questions with us.