Why Omnichannel Advertising Is Essential in the Current Economy
The average American is exposed to thousands of ads per day. With people consuming more media across numerous channels, it’s harder than ever for advertisers to cut through the noise and connect with a person who’s ready to make a purchase.
In recent years, digital advertising has opened the door to efficient customer acquisition and revenue for many types of businesses through evolving technologies and the wholesale shift of consumer behavior to digital channels. The pandemic accelerated that behavior, forcing many customers to consume more media at home and shop for more essential products online.
Faced with economic uncertainties from inflation and recession to war and prolonged supply-chain disruption, marketers need to lean into omnichannel advertising.
Why omnichannel advertising is becoming even more important
Omnichannel marketing means delivering a holistic experience that reaches the same individual with the right messages, at the right times, across multiple touchpoints. Unlike earlier targeting methods that relied solely on probabilistic reach, omnichannel campaigns are based on targeting specific consumers across their various digital experiences. That means that, instead of choosing a channel and context for an advertising message to create the greatest impact, technology can instead target individuals across a range of digital devices.
A recent study found that advertisers that combined a blend of tactics like pre-roll video and digital banner ads yielded better results than any combination of those tactics on their own. At the same time, media sales teams drive higher profit margins when they fill their own owned-and-operated (O&O) inventory within integrated omnichannel campaigns. By combining/integrating their high quality O&O with programmatic media across all major channels, media companies can deliver the best results for their advertisers.
Consider a scenario where a local newspaper approaches a potential advertiser to sell inventory, but that advertiser also wants to reach their audience beyond the publisher’s local website. A thoughtful blend of all of those channels can keep performance high for the advertiser while maintaining healthy profit margins for the media seller.
It’s likewise essential that media companies consider the advantages of omnichannel execution in light of inflation, which is the economic trend that’s top-of-mind for most businesses. For businesses, inflation stings most acutely when it comes to salaries and payroll. Smart omnichannel campaign sales and execution allows for a much more efficient media market and smoother operations requiring fewer human resources.
Omnichannel ad campaigns outperform single-channel executions at least in part due to the air of legitimacy and commercial seriousness that’s conveyed when a person sees an ad for the same product on their home connected TV screen and in their social media feeds. Media companies need to acknowledge that brands and advertisers will increasingly demand omnichannel performance levels as table stakes as the market evolves.
As the media supply chain grows and consolidates, advertisers and brands won’t have the time nor inclination to cobble together advertising solutions from a range of providers. They will understandably want comprehensive omnichannel execution in one clean campaign. In order to deliver value that incorporates their owned-and-operated inventory, media companies will need to acknowledge this as a starting point when they look for how to position their value proposition.
Tom Cheli is CEO of Frequence.