The media industry is evolving rapidly. Today, both advertisers and publishers are aware of the changing consumer behavior and its impact on their businesses. To stay on top, they are swiftly harnessing the potential of digital technologies. Most of the publishers - specifically the emerging and the fast-growing ones - continue to face challenges owing to the digital evolution in the media industry itself. For instance, pricing models for digital ads vary depending on the objective of the advertisement. These models have evolved from Cost per Mile (CPM) to Cost per Viewable Impression (vCPM) based on the brand objective (driving brand visibility vs. creating brand awareness) as well as its users' consumption behavior and patterns. And this has gradually shifted publisher's focus on creating more engaging and relevant content for users - that also align with the ad - instead of merely providing irrelevant inventory to advertisers or brands. As a result, publishers now have the advantage of in-context/behavioral advertising opportunities.
From an advertising standpoint, measurable KPIs exists that indicate a campaign's success. However, for publishers, it has been a struggle dealing with this conventional systems that fail to provide insights required to thrive in a digitally driven world. Thus, the need of the hour is an integrated solution that brings dispersed data in one place and determines campaign interactions to drive user actions. Such a solution must employ real-time analytics to recognize and react to trends proactively and unearth new opportunities in real-time based on user-engagement with content and online ads. It should leverage predictive-analytics to run scenarios for business planning and to optimize inventory performance across sites, placements, sizes, devices, and formats.
In addition, publishers should understand the factors that drive consumer behavior. Precise targeting and personalization is the key to stay ahead in the game and this requires in-depth knowledge of the consumer, their journeys on digital channels and accurate profiling to sell targeted impressions to advertisers at a premium rate. These strategies will help publishers improve advertising ROI. In the end, media enterprises are slowly transitioning to a world where direct customer engagement is the key to customer experience. And for publishers, the future of advertising is all about marrying content and ads in such a way that it gets the brand message across and at the same time serves some consumer need.