There are innumerable ways that brands can connect with consumers in a hyper-digital world, but an ad is always going to be the bedrock of communication. Ergo, monetisation of advertising across touchpoints is a puzzle that brands must solve to generate sustainable revenue and stay relevant in a world where the consumer can switch screens in less than 2 seconds. I believe that a brand’s holy grail is engagement and monetisation should be the result of a sustained relationship with an audience. There are many factors that determine the success of a brand and the revenue that follows and there is no “one size fits all”.
“Every trackable interaction creates a data-point, and every data-point tells a piece of the customer’s story.” – Paul Roetzer, Founder & CEO of PR20/20
Consumers have a digital fingerprint from various purchases and the holy grail of marketers is to be able to target a consumer with the right message at the right time and to create memorability and brand affinity. The brands that stay relevant to the consumer are those that are able to tailor and deliver the ads while walking the fine line of connecting with, but not interrupting this consumer experience.
Take for example the recent ad by Facebook of Pooja Dairy. It wasn’t about monetisation, acquisition of a customer, or getting app downloads. The ~ 7-minute ad played on emotion and let’s be honest, we all felt a wee bit weepy! Coupled with the pandemic we are living in, the ad went straight to the vulnerable softie inside us and we shared the ad with friends and family. In fact, that’s how I got the ad, from my most trusted friends and pre endorsed by my first circle, as a YouTube video. You see the full circle here? The social media ecosystem is connected. People create brands, we build them up in our collective mindset, we love, like, and reshare the content we feel strongly about. This ad film actually may have blunted any negative feelings I had about social media Goliaths. So, we must realise that it is imperative for a brand to make the connection between content, data, and understanding the audience. Monetisation will follow once this foundation is set.
Here is my cheat sheet to parameters that drive ad monetisation:
Remember, “Amazing things will happen when you listen to the consumer”, says Jonathan Midenhall, CMO of Airbnb, and the only way to do this is to have enough data to listen to your consumers and engage them with contextual and relevant communication.