114. Is Media Value Based On Currency or Measurement? Seraj Bharwani Address
Jan 10, 2023
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Seraj Bharwani, an expert in programmatic advertising, addresses the question of whether media buying is based on currency or measurement. He also touches on the importance of brand safety. The podcast explores topics such as the consumer journey, democratizing programmatic advertising, mapping results, and two podcasts hosted by Seraj: Journey Insider and The Luminaries.
The Loomin platform aims to simplify programmatic advertising by visualizing the consumer journey and optimizing campaigns based on touchpoints.
The true value of media lies in the results derived from advertising efforts, requiring marketers to correlate their strategies to specific outcomes.
Deep dives
Simplifying Programmatic Advertising with Loomin
Loomin is a programmatic advertising platform that aims to simplify the process of buying media by introducing the concept of a consumer journey. The platform allows users to easily set up and manage campaigns, with a focus on mapping out the different touchpoints along the customer journey. By visualizing the journey on a single canvas, Loomin helps marketers better understand the flow of their advertising and optimize their campaigns accordingly. The platform also emphasizes the importance of unduplicated reach, ensuring that audiences are not reached repeatedly across different platforms. Additionally, Loomin aims to provide an intuitive interface that makes programmatic trading more accessible for marketers at all levels, democratizing programmatic advertising. Overall, the goal of Loomin is to simplify the setup process, improve reporting capabilities, and ultimately drive better results for advertisers.
The Currency and Measurement Debate in Advertising
There has long been a debate in the advertising industry about whether the focus should be on currency or measurement when it comes to media value. The traditional approach using GRPs (Gross Rating Points) for measuring region frequency is being challenged by the growing capabilities of programmatic advertising, which allows for greater precision targeting and real-time performance tracking. While the buying process still revolves around region frequency and reach, the true value of media lies in the results derived from advertising efforts. Marketers need to be able to correlate their advertising strategies to specific outcomes, such as sales, engagement, or conversion metrics. The Loomin platform facilitates this connection by providing a journey-focused approach that allows marketers to track the impact of different touchpoints along the customer journey on the desired outcomes. By understanding this relationship, marketers can optimize their campaigns and drive better business growth.
The Importance of Guiding and Educating Consumers
One key insight highlighted in the podcast is the importance of guiding and educating consumers through the advertising process. Rather than just focusing on selling products or services, marketers should aim to provide guidance and education to consumers to help them make informed decisions. By understanding the consumer journey and their specific needs, marketers can tailor their messaging and creative content to better address those needs. The goal is to simplify the decision-making process for consumers, particularly in categories with many choices, and help them move from the awareness stage to the final purchase decision. This approach requires marketers to provide consistent messaging, offer education and relevant information, and guide consumers towards the desired action. Nike's advertising strategy, for example, focuses on encouraging consumers to be active rather than directly selling products, recognizing that by promoting an active lifestyle, consumers are more likely to choose Nike when making purchase decisions.
The Importance of Patience and Learning from Failure
The podcast guest shared some valuable advice for professionals starting their careers in the advertising industry. He emphasized the importance of patience and recognizing that learning cannot be rushed or compressed into a short period of time. Becoming an expert in programmatic advertising requires consistent effort, planning, execution, and learning from failures. Professionals should approach their work as a continuous learning process, understanding that expertise is developed over time through hands-on experience and exposure to various challenges. It is important to embrace failures as learning opportunities and seek support and guidance from mentors, teams, and partners. The guest also highlighted the benefits of continuous education and learning from industry experts, which can help professionals stay updated with the latest trends and advancements in the fast-paced digital advertising landscape.
This week we are excited to welcome Seraj Bharwani. He talks about currency and measurement. Also, this episode is where he addresses the question: Is media buying based on currency or measurement? Along with these, Seraj also touched based on brand safety.
Timestamp:
00:01:22 - Who is Seraj Bahrwani
00:04:38 - Talking about the consumer journey
00:11:45 - The Journey Metaphor
00:13:04 - Democratizing programmatic advertising
00:13:17 - There should be no limits on what people want to run
00:14:45 - Communicating the end results to clients
00:17:34 - The currency is in the results driven from it
00:22:13 - Unduplicated reach explained
00:25:55 - Discussing customer propensity
00:27:46 - Messy Middle Loop
00:29:42 - Awareness of education
00:30:25 - One thing you should remember from this episode
00:33:17 - One thing Seraj wishes he knew then that he knows now
CSO Seraj Bharwani discusses transformational journeys in marketing with the ones who paved the way. Stay up to date on industry trends, gain actionable insights based on real campaigns and discover your own path to marketing success.
Episode 1: guest speakers Albert Thompson of Walter Isaacson and Hyun Lee-Miller of Good Apple join CSO Seraj Bharwani in discussing the ‘Vision for a Vibrant Future of Advertising’.
