Close your eyes and imagine something impossible. Like pigs flying, Trevor Noah becoming best buddies with Donald Trump, or finding an individual who doesn’t use any of Google’s products.
Yes, all of them seem impossible.
While Google may not have figured out how to kill the cookie yet, one thing it has mastered is its omnichannel strategy. In a world of constant connectivity and a multitude of choices, getting the omnichannel strategy right to deliver a consistent and engaging experience is vital.
In this episode of the Voiro podcast, Anand, Kavita, and Rohan talk about omnichannel advertising, what it is, why it’s trending, and why it matters. Other talking points include Netflix’s partnership with rating agency BARB and other bold moves in the world of OTT and advertising.
In a move to empower its media network, Yahoo partnered with Lowe’s One Roof Media Network to offer off-site media experiences to Lowe’s diverse range of advertisers. One Roof Media Network by Lowe’s offers an extensive portfolio of omnichannel advertising services built to empower brands in the home lifestyle section. This partnership will allow brands to enhance their customer engagement experience through omnichannel platforms and drive better campaign measurement and attribution.
The Voiro View
Omnichannel, while an old concept, has been in the news more intensely for the last couple of months. The terms omnichannel and multichannel are often used interchangeably, but there is a marked difference. In omnichannel advertising, you have your audience in the center, with various channels orbiting that audience. In multichannel, you have your audience on the outside and advertisers have to go to each channel to interact with them.
From an advertiser’s point of view, omnichannel advertising is about being able to reach your audience wherever they are across various channels or platforms. And there is a decided move towards omnichannel advertising to deliver more hyper-personalised messaging using different communication channels. On the other hand, multichannel is kind of falling way to the side because it’s a lot more effort.
In the last few years, because of the underlying shift in digitisation and general Internet penetration, broadcasters or single-channel publishers are slowly realising that they must first become omnichannel to reach their audiences from multiple angles, keeping in mind each channel comes with its own attention span. If you look at Google, they have their partnerships, premium buys, and video. So, they have not only mastered their omnichannel strategy, but they also can give somebody an opportunity to be omnipresent across their omnichannel platforms.
The bottom line is, today, a brand can reach its audience across several devices and at several touchpoints, all of which are digitised. And if the publisher can’t figure out the correct touchpoints, this strategy can backfire. The biggest hurdle is it is very hard to measure the omnichannel strategy. The mathematics of omnichannel can get complicated really fast. You can go from a one-on-one relationship in one of your channels to many in another. You can suddenly go from an individual level to a household level. And while a cross-platform measurement is still a journey and many companies are innovating to get it right, the ability to get to a place where it’s reliable and delivers consistent results is going to be hard. Cracking this will be key to getting advertisers to move their dollars in a certain direction.
Netflix is all set to answer questions regarding its viewing figures. In a bold move, Netflix has partnered with TV rating agency BARB. Previously the OTT giant only shared snapshots of its viewing information. BARB will report on Netflix’s viewership figures from November this year.
The Voiro View
By partnering with BARB, Netflix has sent an interesting signal to the market, stating its firm stance on measurement. They are competing for dollars from not just digital spend but digital, linear, and several other wallets to create a premium experience. With this new move, many of their viewership numbers will become public and they will have to answer questions they have not been privy to before. Every single move they make will be under scrutiny in the next few months. But, as Netflix changed the game when it came to streaming, we hope they become game changers when it comes to OTT advertising.