We are in the midst of the 2022 upfronts, and there’s a lot to talk about. This year, advertisers have the opportunity to buy TV advertising that is automated, addressable and accountable like never before.
Amid all the important deal-making and exciting new opportunities, though, advertisers should be sure they are asking the right questions — the ones still nagging at the industry’s heels about convergence, identity, fluidity and measurement. The upfronts are a unique opportunity for buyers to address some of the challenges still facing this industry and to work with sellers to address the hurdles that may be holding both back.
Over the next few weeks, be sure you’re taking the time to have the right conversations and ask the tough questions. Because in 2022, the upfronts aren’t only about making deals; they’re about finding solutions and developing upfront strategies for the future.
Here are a few topics all advertisers should be addressing:
1. Convergence and Clarity
As each year passes, the Upfronts become more connected and more converged, as the lines blur between linear TV, streaming and digital video. You probably saw that YouTube participated in Upfronts instead of the Newfronts, while NBCU presented at both; others aren’t quite sure where they fall. Where does that leave an advertiser, especially if your digital video and TV teams are still siloed? (hint: they shouldn’t be!)
No matter how a seller approached the events this year, all advertisers should be challenging them on how they can enable audience reach and transparency across all forms of premium video. To fully optimize today’s ecosystem, buyers and sellers must be connected like never before (both literally and figuratively) – this will allow buyers access to more inventory, helping both sides succeed.
2. Flexibility and Fluidity
The upfronts have traditionally been about making a commitment and sticking to that plan, because that was the whole idea around making a deal “up front.” But today, advertisers need more flexibility in their agreements and more investment fluidity. Buyers should have the ability to move their investment across deal types, audiences, and advertisers depending on goals, and this shouldn’t change just because these are the Upfronts.
The key is keeping it simple: both buyers and sellers need to focus on improving the way they transact and evolve the deals they are making. If the last few years have taught us anything, it’s the ability to be nimble and flexible; technology can help us all do that.
3. Data Consistency
At this point in the advertising lifespan, we can all agree that data is king. But what if our data isn’t consistent across the ecosystem? In order to move forward with data, the industry must be able to solve for the challenges of media data and its disjointed nature. We need a holistic strategy for creating consistent data across premium video and not settle for multiple fragmented walled garden approaches.
The solution to this one is fairly simple: first-party data. Premium video publishers and advertisers need a scalable data solution that keeps the data owner in control and brings equitable value to both buyers and sellers.
4. The Future of Measurement
Did you know that according to one survey, only 3% of agencies/marketers are satisfied with measurement solutions available today? It’s time to improve the media measurement system. In today’s multiscreen world, buyers will no longer be complacent with estimates and results shared after the fact. All of us are accountable to our leaders and our organizations, and when it comes to advertising, that means simply answering “did it work?” and if not, “how can we fix it?”
The solution is no doubt complicated, and the key is to keep an open mind. The fragmentation of viewing has given way to new entrants who offer the accuracy, speed, and flexibility needed to navigate (and optimize for) the needs of today’s multiscreen advertisers and who advertisers may want to consider engaging with. While introducing new metrics can seem overwhelming, having clear and transparent definitions of success is a topic that can’t be ignored.
We May Not Have All the Answers … Yet
There’s a lot of work to do, and it’s unrealistic to think all of these challenges will be solved over the next few weeks. Buyers and sellers have different goals, which can sometimes make it difficult to find common ground. But as long as we are having the conversations, evolving the definition and scope of upfront “inventory” and keeping open to change, we are on the right path forward. ■
