Hello, traders, Agenda for our MarTech conference, held on September 14 and 15, is taking shape. (More details below.)
Until then, we’ll stay on top of big changes in marketing technology like the transition to CTV. For example, we are learning more about this space through the Vevo Global Video Network. Before the pandemic, their CTV earnings were 4%. Now it’s 50%. It’s a show stopper.
For consumers, however, doesn’t the app-based TV landscape simply boil down to a cable experience with bundled programming packages? Not really, except on one important point: the price. All of these à la carte subscriptions add up.
And as the media landscape continues to change, marketers need to listen carefully to consumer reaction. A new report warns us that if consumers don’t feel like your brand listens to them, you could receive negative feedback in the form of unsubscribing.
The bar has probably never been higher for being precise with customer data and using it effectively for relevant communications. Otherwise, customers will feel overwhelmed and start watching clips from a decade less stressful for them.
How Vevo filled the gap in music videos from the pandemic
“The video killed the radio star,” The Buggles sang prophetically in the first clip to air on MTV. It was 40 years ago this year, and although the radio remains blocked, it has become routine for us to expect video with audio.
Quite often, the music videos we consume are delivered by Vevo, the world’s leading video network. “We have a presence on YouTube and a large presence on CTV on over 15 channels,” said JP Evangelista, SVP Content, Programming and Marketing at Vevo.
CTV is a growing channel for Vevo. “We are selling more and more CTV inventory. This is the biggest change in recent years. And this is yet another trend driven in part by the pandemic. Vevo drew about 4% of its revenue from CTV before the pandemic; by the end of this quarter, it will be 50%.
The pandemic presented other challenges. Just as movie and television sets emptied almost overnight for security reasons, there was a sudden shortage of new, traditionally produced music videos. Vevo’s in-house creative team actively worked with the artists to develop their skills in self-shooting videos. When it became possible to reopen Vevo’s own studios, they began to develop original content. Ariana Grande, who has appeared on the show six times, broke Vevo’s all original content record with her “pov” video that garnered nearly four million views on day one of its release.
Why we care Vevo was able to draw on two types of assets to fill – and more than fill – the void when production of new music videos slowed. It had in-house authoring capabilities and studio space to safely create original content. And he had a vast mine of older videos that he cleverly bundled into content sets aimed at particular demographics. It is surely safe to predict that these will remain important parts of its business when the pandemic is finally in the rearview mirror.
Read more here.
Do you know your customers well?
Almost two-thirds of consumers (65%) are overwhelmed by the communications they receive from brands, according to the new “Audience of One” report released by visual experience platform Movable Ink.
The stakes are higher for brands to personalize their message (without being too creepy), and also to ensure that the information they use is accurate. For example, one in four consumers unsubscribed from emails when the brand addressed the message to the wrong person.
Other findings of the study include:
- Two-thirds of respondents (68%) will stay loyal to a brand if they actively engage and build personal relationships with it;
- Three in five consumers (61%) say they are likely to purchase goods or services when a business has created a personalized experience for them in their branded content; and
- One in three people report receiving inaccurate product recommendations.
Why we care: Marketers always strive to deliver more relevant messages to gain competitive advantage, increase awareness, and drive sales. The bar continues to be raised. But it’s not just personalization tools and data management that set standards. Ultimately, it is the consumer’s response to the improved strategy that matters most.
Findings on inaccurate product recommendations should also grab the attention of marketers, as this is a bit more of a gray area. If customer data is not unified, consumers may receive inaccurate recommendations for items they have already purchased or purchased in sufficient quantity to last a long time. Or the recommendation is just not relevant. In all these cases, a significant number of consumers will feel that the brand does not know them well enough. Too many messages that do not cross the acceptability threshold risk leaving a customer feeling betrayed. Of course, avoiding list burning isn’t a new concept for marketers. The risk just seems to be greater when the messages are large, when a wrong name or misinformed recommendation can push a customer further from a sale and closer to unsubscribing.
MarTech’s fall agenda is online
If you want to leverage marketing technology to create data-driven customer experiences, build strong teams, and streamline marketing operations, join us online September 14-15 at MarTech… FREE.
Your All Access Pass unlocks two days of world-class programming, including:
- Dozens of tactical-rich sessions featuring real-world experts and leading solution providers
- Groundbreaking speeches by Scott Brinker of Chiefmartec, Kim Davis of MarTech and Darrell Alfonso of Amazon Web Service
- The Stackie Awards 2021 – a celebration of the creativity of your MarTech community
- Optional live and in-depth workshops on CDPs, Agile Marketing and more ($ 149 each)
The entire program will be available both live and on demand so you can practice when it fits your schedule. And it’s all yours… for free.
Quote of the day
“Conversion is essential for all digital marketers. Pauses in the experience can be a huge conversion challenge and it sometimes takes days, weeks or months to find these pauses. Michael Trapani, Senior Director of Product Marketing, Acoustics, “How to know if you have exceeded your Martech” during our spring MarTech conference.