Transcript
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Welcome back to BEDB growth. I'm
Dan Sanchez with sweet fish media, and
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today I'm joining with Daniella Harkins,
who is the general manager of strategic and
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media alliances at live ramp. How
you doing today, Daniella? Come well
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Dan, how are you doing?
I'm doing great. Thanks for joining me
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today to record this episode. Today
we're going to be talking about accelerating business
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recovery with addressability, but before we
do, Daniella, can you tell us
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a little bit about what you and
the team at live ramp have been up
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to these days? Absolutely, Dan. First off, thank you so much
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for having me here today. Very
excited when we think about, you know,
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what's going on in the world today, with a global pandemic we have,
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we're obviously we're moving into a recession, or have moved into a recession.
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So much has changed, I think
for all of us, and it
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live ramp as well, as we
think about how we support our clients and
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how do we really drive help them
drive business outcomes, we've evolved some of
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our focus as well. Today,
what we're really focused on is enhancing data
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connectivity and data collaboration. So if
your first party data asset is the most
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valuable to you? How can you
leverage other partner data so that you can
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collaborate just know more about your consumers
or your customers? And the other piece
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of it is how do we future
proof our clients businesses? We know that
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the third party cookie is going to
be deprecated by Google and we also know
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that safari and Firefox don't allow for
third party cookie targeting. So when we
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think about that world post third party
cookie, how do we build solutions that
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are still based in identity and scalable
across the ecosystem and still power our clients
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and enable them to have a really
strong media strategy? So when we're talking
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about addressability, just in case our
audiences and is familiar with it, can
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you define, like what is addressability
and how is it helpful for be to
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be marketers? Yeah, so,
more than just being a mouthful in terms
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of the term itself, I'd like
to break things down pretty simply. So
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you probably if you googled it,
you would look and you would find something
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a little bit more technical, but
to me, addressability is a marketing strategy
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and capability that allows brands to have
a one to one connection with their customers
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or consumers and by eight by being
able to have that one to one connection.
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It allows you to personalize those messages
based on what you know about them.
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So it's data driven right, and
it allows you to then execute in
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a very personalized manner to in speaking
with those with your consumers. If you
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think about the history of addressability,
if we think about email, right,
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emails highly addressable. It is one
to one. You have an email address
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and you are sending an email to
that person with a very customized message.
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Then it moved into digital media and
display. And then what I would say
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is it. You know TV.
We always talked about television, but it
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was never addressable. It was basically
one, two millions. And now what
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we've done with addressable and with addressable
television and connected television, so we've actually
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now the industry. When I say
we, the industry, now powers a
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more personal add experience across televisions as
well. So if you know something about
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that household, you can then target
a household based on what you know about
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them. So when I hear you
saying address ability, it's really the ability
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to target people based on data.
TV didn't give us data, so we
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weren't able to make any changes to
the TV commercials. Email gave us a
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ton of data. So we're able
to build whole marketing automation systems to drive
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a more personalized follow up with people
because we knew if we one delivered to
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them or if they opened it or
if they clicked on is very specific link,
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we could customize and create that one
to one connection. Yeah, absolutely,
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and I always use this example what
I'm talking to my family about what
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I do. Frankly, I say, okay, I live in a household
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that has no children and if I
am and my neighbor actually has four young
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children, and so when I see, let's say, an ad for a
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cruise line, it's going to say
hey, come to a kid free cruise
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line, it's for adults only.
Yet my neighbor would have one with a
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message that's very family friendly because of
the fact that she has children, right
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and so that's kind of to me. That's the crux of addressability when it's
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delivered and executed appropriately. So how
is addressability become more important over the last
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couple of months as we've seen some
crazy world activities come our ways marketers,
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how has it become more important?
Great Question. One is I think we
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have to acknowledge consumption overall has changed. How we're consuming content has changed dramatically
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since we've kind of walked into a
global pandemic and have stayathome orders. So
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more people are consuming content through streaming
APPS, right and just and by the
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way, everybody's just creating content.
As we think about it right, we're
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all at home, a lot of
us, not all, a lot of
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us are at home and creating content
and there's new content channels. So addressability
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is super important right now for a
couple of reasons. One is consumption has
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changed. Consumers are literally engaging with
content in different ways than they have before.
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We know right there's been a huge
uptick in how consumers are viewing right,
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viewing television. So they're viewing it
across streaming APPs right, higher than
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ever before. And so, as
we think about addressability, you're being literally
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walked into people's homes and now more
than ever, it's super important to do
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a couple of things. One is
you need to be able to personalize or
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customize a message based off of what's
happening today, right, and it needs
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to be timely, because what was
what I look like two months ago and
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the insights that you had on me
two months ago could look vastly different today
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and my priorities of as a consumer
have changed. So being able to be
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data driven and being timely right is
super important, just because the world is
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vastly different today. Then you have
to use that data across addressable channels so
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that you can then control that desired
outcome. And ultimately it's really about driving
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more value right for the same amount
of dollars or, in a lot of
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cases, less dollars, right.
And so focusing on those addressable channels and
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focusing on that data driven strategy should
literally not just increase the value that the
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consumer is getting from you, but
it should also then increase the value that
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you were getting out of your media
budget. That makes so much sense.
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I mean, I even think about
in when covid hit. It was in
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March and people were probably spending like
normal for maybe too long, when they
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could have. They could have quickly
assessed their media and just cut back to
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the ones with the heart, highest
Roi or maybe some that add an important
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experiment attached to it that they wanted
to see through. But even being when
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able to have the ability to address
it and make decisions quickly, is really
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key. Or even more recently with
the protest going on, we all saw
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companies running media that was very insensitive
at the time that needed to be your
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addressed. Yet they kept pushing it
and it became painfully obvious which companies were
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paying attention and which ones were able
to make decisions quickly and which ones which
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ones warrant. So I think it's
only becoming more important. It really is,
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and you know it's interesting, Dan. One of the things, just
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thinking about conform a Betab marketing standpoint, think about what state home orders have
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done. If you're relying on other
tactics, let's let like let's say an
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IP address or other tactics to target
users. They're not at work anymore,
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they're at home, right. So
if your customers aren't physically where you think
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they are, you have to change
your strategy there as well. So that
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data driven. So it's making sure
that you have access to the right data.
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But then it's that timeliness, and
so I think it's really interesting how
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addressabilities always been important, but addressability
plus timeliness now is even more important because
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that's the only thing that's going to
drive the outcomes right for you know,
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the different marketers. That are that
different marketers out there. So, now
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that we know a little bit about
addressability, Daniellow, what are some of
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the things are listeners can start doing
today, or maybe stop doing today,
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in order to become more addressable with
their media? There are, I'm going
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to say, four to five things
that you can do today. The first
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is, you know, I love
the question, what can you stop doing?
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The first is stop spraying and praying. We've talked about that across the
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board. We've it's been a discussion
for years and I think a lot of
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times what happens is spray and pray
because oftentimes it's cheaper. Right, it's
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still generates some level of results.
The reality is consumers are way more sensitive
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today, whether they are business or
customers, they are way more sensitive than
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they've ever been. So that's the
first thing in terms of stopping. In
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terms of things that you can do, there's four of them. One is
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evaluate your existing media strategy and your
partnerships. Make sure that they are addressable
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in nature, make sure that they
are data driven, make sure that they
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are focused on business outcomes. Don't
focus on whether or not somebody clicked right.
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Focus on what is it that you
are trying to drive. Are you
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driving awareness? Are you driving for
someone to take an action or to download
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a one pager or content? Right? What is that desired outcome? I
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think that's super important. So evaluate
your media strategy, make the changes,
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but evaluate your tech partnerships as well, because they ultimately are the ones that
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are going to power right that media
strategy. The second is, and I
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referred to this a second ago.
The second is maximize the data that you
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have. Maximize what you know about
your customers, your first Party data,
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and then augment that with other sources
of data, whether it's third party intent
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data so that you can make what
you know more relevant about that consumer,
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or whether it is second party data. So if you are partners with someone
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and you can collectively bring your first
Party data together in a privacy compliant way
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that allows you to share data responsibly, make sure your data driven and start
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challenging yourself to do more there.
The third is make an emotional connection with
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consumers. Everybody is emotional right now. There's anger, fear, there's so
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much going on in the world today
that's causing everybody to be more emotional.
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Create a connection, but make sure
it is consistent with what you're doing from
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a brand standpoint and make sure that
is authentic. The last thing you want
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to do is create a an emotional
connection with someone and then not deliver on
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that long term. And then the
fourth is measure, measure, measure,
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measure, test, learn, measure, test, learn, measure. It
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is a great time to be testing
and learning and challenging yourselves to do more.
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I talked about that business outcome m
right. So staying focused on that
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and working with partners that are going
to make your media strategy highly measurable is
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also going to be very important,
because that's where you're going to learn the
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most and you're going to be able
to maximize the dollars that you're spending from
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a media standpoint. I certainly like
the idea of testing, especially when it
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comes to testing different emotional connections and
different approaches to it, because we've all
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seen a lot of companies I were
going to last couple of weeks try to
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make that emotional connection and launched and
went for it big, and was it
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back the often times a bit huge
backlash to it, when they could have
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tested that small and found out really
quickly with a lot less head spent if
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that emotional connection they were trying to
bridge or that that hand they were trying
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to reach out with was actually going
to do what they thought it was going
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to do. So I think actually
combining those two and trying to make small
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test with those emotional connections or is
huge. So we've talked a lot about
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like this third party cookie deprecation,
the fact that Google's cookie system is going
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to go away soon, which just
breaks my heart as a marketer because I
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love retargeting so much. It was
a huge it's been a huge part even
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for my own marketing campaigns when I'm
trying to get someone from paid media two
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owned media. Retargeting is like the
bridge between those two things. What are
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some things that you're helping your customers
do to future proof their businesses knowing that
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this is coming? Yeah, so
it was not a surprise that Google deprecated
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the third party cookie or that they
made an announcement that they intend to deprecate
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the third party cookie. However,
I think it's still shook the industry quite
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a bit. This isn't the first
time this has happened, though. If
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we think about safari and Firefox,
if you're leveraging a third party cookie today
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you cannot reach consumers across safari and
Firefox today. So it shook the industry
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and it really impacts a couple of
different strategies. One is, it's easy
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to say it just impacts any third
party cookie strategy. Oftentimes, to your
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point, retargeting is a huge strategy
that different brands used to be able to
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retarget users across third party websites who
have come to your own website, your
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own property. The other piece of
his programmatic and a lion share of advertising
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today is purchase programmatically and done for
a third party cookie. And so because
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of all of that and the it's
really a tactonic shift in the industry.
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Library's highly, highly focused on building
out an ecosystem that is built on identity
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and does not leverage the third party
cookie or is not dependent on the third
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party cookie. So we want to
be able to enable transactions right, media
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transactions and the buying and selling of
media based on a person based identifier,
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not based on a cookie. And
what that does is it brings more persistency,
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it enables consumer opt out right and
consumer permissioning and it ultimately what it
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does is it will increase scale because
at the end of the day, whenever
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you're relying on a cookie, there
are so many different steps in the process
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to match that by the time you're
actually able to reach someone, it could
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be ten to fifteen to thirty percent
of the audience that you actually intended to
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reach. And so what we are
highly focused on, and what I think
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not just live ramp but others in
the industry are focused on, is how
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do we enable an advertising economy that
is not relying on a third party cookie
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but is actually reliant on a person
based identity? So I love how you're
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helping your customers future proof their businesses
by giving some some more solution, some
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more wiggle room to address the fact
that this whole particular category of bad spend
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is going away. What are some
other ways people can do to future proof
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their businesses? I know, for
starters, they can probably lean more heavily
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to facebook adds, since they're that
cookie will still be available. But if
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not, the not leaning on a
platform like yours are using facebook adds.
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What would be like another one or
two ways real quickly like people can do
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to future proof? I think there
are three areas that I would be focused
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on. One would be diversification of
my media strategy overall, because not every
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media right by is based on a
third party cookie, and so it's really
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important that you diversify that strategy.
The other is working with and figuring out
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your partner and text Stac to understand
where Pi integrations can happen and leverage different
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partners in the ecosystems that can protect
your Pii but then still make it actionable
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from a media standpoint. And the
third is being privacy. First, as
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we think about the infrastructure of advertising
changing with the deprecation of third party cookies,
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consumer opt in and is going to
be even more important as we think
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about this. So that's a lot
to take in. There's a lot going
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on in the world and more to
come when it comes to how to address
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your data how to make it work
harder for you as a business. If
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people want to learn more Dan Yella
work and they find you on the Internet
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to follow up about this. Yeah, I think there's a there's couple areas.
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One is live rampcom. We have
a great website that has a ton
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of thought leadership around what is happening
in the industry and what and and the
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partnerships right so lib ramp has hundreds
of different partners and so it's not just
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our point of view but also the
point of view of all the of all
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of our partners and ecosystems. So
live Rampcom and if you have questions,
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Daniella Dot Harkins at live Rampcom or
info at live ympcom and be happy to
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talk to anybody. Fantastic and I'm
sure some audience will be reaching out to
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you to find out more. Is
there any final thoughts you have for audience
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in regards to addressability? I think
yes. What I would say is make
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addressability work for you. One size
does not fit all and I go back
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to what I said earlier. It's
a highly emotional time and we're all trying
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to figure it out. I think
that being sensitive, creating a connection with
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consumers is really important right now,
and I think the other piece of it
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is use this as an opportunity to
test and learn drive innovation. It is
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oftentimes in down markets. Right we
think about what it has you know,
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how do we make that dollar work
better for us? And I think right
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now is a really good time to
look at how can we continually drive innovation
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across our partnerships and for our brand
specifically. Fantastic, Daniella. Thank you
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so much for joining me on BB
growth today. Thank you, Dan,
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it was really a pleasure. Gary
v says it all the time and we
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agree. Every company should think of
themselves as a media company first, then
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whatever it is they actually do.
If you know this is true, but
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your team is already maxed out and
you can't produce any more content in house,
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we can help. We produce podcasts
for some of the most innovative beb
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brands in the world and we also
help them turn the content from the podcast
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into blog posts, micro videos and
slide decks that work really well on Linkedin.
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If you want to learn more,
go to sweet fish Mediacom launch or
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email logan at sweetish Mediacom.