Twenty years ago, as cable TV was beginning to flourish, we set out to change an industry. My colleagues in the cable industry and I sought to transition advertisers from a singular focus on broadcast to the more efficient and effective cable TV. We faced enormous headwinds in legacy business models and deeply rooted relationships; the industry didn’t want change. However, history, and a better business model, was on our side and we grew the overall marketplace by delivering superior results for our clients.
As I look out on the digital landscape, I see another industry poised for incredible growth through change. In spite of (or perhaps because of) the digital world’s rapid evolution, there are still massive inefficiencies based on legacy business models. We’re looking at an immense amount of waste. For example, over 50 percent of all transacted video ad impressions are not viewable (according to Vindico’s Adtricity). Compounding that inefficiency is the excessive amount of ad dollars being allocated to middlemen instead of media.
Additionally, current metrics aren’t accurately accounting for true behaviors. To elaborate, the industry relies on third-party cookies for targeting when only one-third of all internet-connected devices accept those cookies. The industry also bases 100% of its targeting and attribution metrics around ecommerce data which only accounts for 6% of all purchases.
These outdated business practices will eventually give way to a smarter way to transact media. I joined IMH because we are focused on solving these industry-wide challenges. Over two years ago we launched Adtricity, a viewability and verification tool, because we recognized the need for greater transparency around all ad inventory in the marketplace. We are also offering clients an integrated technology that reduces costs and increases effectiveness – that’s one of the most valuable benefits we can provide clients, as a comprehensive company.
So what’s next? Creating smarter metrics through proprietary 1st party data. IMH is moving beyond cookies and towards real consumers with identity-based targeting. This allows our clients to follow their consumer’s path to on-line AND offline purchase across all internet connected devices. Identity based targeting and attribution has delivered on the most important metric our clients look at: actual sales.
Over time, the industry will evolve its practices to include more effective and efficient ways of conducting business. After years of spearheading growth and revenue at some of the world’s top cable broadcasting brands, I am thrilled to be able to shift my focus and efforts to a predominantly digital space. My focus will be on mobilizing the entire IMH organization and our overall industry at-large to tackle these issues of inefficiency and waste.
By educating the marketplace, creating relationships steeped in trust and delivering meaningful results, we are poised to help our clients win. After all, history, and a better business model are on our side.