How Verizon Media Is Evolving

How Verizon Media Is Evolving

Advertising

Verizon Media (formerly known as Oath) is enduring a transition. But advertisers, especially business-to-business brands, should keep the company on their radar screens and be ready to act on some of the changes occurring at the subsidiary of Verizon Communications.

Verizon Media Shares Mixed News

In recent months, Verizon Media has been the source of difficult news, including layoffs and declining revenues. One piece of news we’ve been following and reacting to throughout 2019: the closing of the Oath Ad Platforms ad server in 2020. As Verizon Media told Adweek,

Following a strategic review of our business, we have decided to close the Oath Ad Platforms Ad Server, effective 2020. We are working with our customers to ensure they are supported as they migrate from the Ad Server platform. This does not affect our Oath Ad Platforms SSP business.

I see the shutting down of the Oath Ad Platforms Ad Server as good news for Oath customers. Advertising on the Oath Ad Platforms Ad Server means using the Yahoo! platform, which lacks strong functionality and uses dated features. With the shutdown of the Oath Ad Platforms Ad Server, your business will transition to Bing. This change is especially advantageous now that Microsoft organized its advertising products under Microsoft Advertising. The rebrand entails the launch of new features such as Sponsored Products and an enhancement of recently launched features such as Microsoft Audience Network, which is powered by artificial intelligence. Advertisers will be in a stronger position thanks to the stronger role Microsoft now plays.

A New Phase for Verizon Media

Meanwhile, Verizon Media is entering a new phase that includes the embrace of augmented reality and virtual reality, according to CEO Guru Gowrappan. In a recently published interview with Fortune, he said,

The biggest thing we’re investing in is 5G [the faster successor to 4G LTE mobile networks]. Every product is going to have an aspect of 5G. You’re going to have deeper integration of augmented reality and virtual reality.

We not just have front row seat and access to what is happening but we’re also building all of our apps, products, and content in that experience. So if you go to our Los Angeles office, we have the first 5G animation studio [Ryot Studios]. It’s brought down the cost of producing animation, and Ryot does a lot of AR content.

He also plans to integrate e-commerce with advertising more effectively, following the example set by Instagram. As he pointed out,

Let’s say you’re watching the Dallas Mavs and want to buy a jersey while you’re watching. We want to integrate commerce more deeply.

Also, the ad model itself has become combined with transactions. That’s what Instagram does. It’s advertising and sponsorships, but in the end, it’s enticing you to come in and transact on the platform.

These are bold statements for a company emerging from hard times, but the company understands that its previous game plan has been flawed.

What You Should Do

My advice to brands advertising on digital:

  • Take stock of Verizon Media’s considerable publishing assets, such as Engadget, Huffington Post, TechCrunch, and Yahoo! According to Verizon Media, its publishing platforms deliver an audience of more than 1 billion people.
  • Watch how Verizon Media evolves its ad products under Guru Gowrappan. He has made it clear that it’s no longer business as usual at Verizon Media. The possibility of ad products using AR and VR is exciting, but the more important near-term development is the integration of e-commerce with its ad products for businesses seeking a tighter integration between online ads and sales.
  • Make sure you understand the impact of the demise of the Oath Ad Platforms Ad Server. Talk with your agency partner if you’re working with one. Ensure that you understand the role of Microsoft (which I see as a positive one).

As always, contact True Interactive if you need help navigating the digital landscape. We have deep experience with online advertising. We’re here to help.

Why the Launch of Microsoft Advertising Is Good for Brands

Why the Launch of Microsoft Advertising Is Good for Brands

Bing

For many businesses, the discussion about online advertising platforms begins and ends with Amazon Advertising, Facebook, and Google. But recently Microsoft stated the case for why it belongs in the same conversation. On April 29, Microsoft announced that its Bing Ads product has been rebranded as Microsoft Advertising. The announcement was more than a name change. Rather, Microsoft reminded advertisers that there’s a lot more to Bing than paid search.

Bing: More Than Search

Bing is already a platform for businesses to launch digital advertising in a number of ways. For example, as we blogged last year, Bing has been rolling out a feature that makes it possible for businesses to target Bing advertisements by relying on LinkedIn data. The feature, known as LinkedIn profile targeting, is an example of how Microsoft is monetizing LinkedIn a few years after Microsoft purchased the popular business-to-business platform. In addition, Bing is piloting a number of products, such as these audience marketing products:

  • In-Market Audiences: targets curated user lists determined to be in market for a particular purchase category.
  • Product Audiences for Search: businesses get remarketing lists for products that allow them to target searchers based on product IDs they interacted with – and promote those same product IDs to them.
  • Microsoft Audience Ads: Audience Campaigns: you can manage your audience budget, campaigns, and optimization separately from your Bing Ads search campaigns.
  • Similar Audiences: targets audiences that are similar to your remarketing audiences.

Bing Advantages

Many advertisers aren’t aware of these and many other Microsoft ad products. But they should. As I blogged last year, Bing offers many advantages. For instance:

  • At True Interactive, we have seen larger average order values on Bing compared to Google. In other words, the typical consumer on Bing spends more per purchase. That’s because the average Bing searcher probably has a higher income level than the average Google user.
  • Bing innovates in more ways than the brand gets credit for, such as its use of visual content. The recently launched Bing visual search extends a strong visual search capability across both Android and iOS devices, whereas visual search on Google remains limited to the Android world.
  • Bing is building a stronger network of partners. As noted earlier this year, Bing is the exclusive provider of search advertising across Verizon Media properties such as Yahoo.

Microsoft used the news about Microsoft Advertising to draw attention to the launch of more advertising products. For instance, the new Sponsored Products (available exclusively in the United States) helps manufacturers to boost visibility and drive more traffic for their top products in shopping campaigns. As Microsoft noted,

With this new capability, our clients can achieve better alignment of marketing efforts between manufacturers and retailers. Together, the connections they create with shoppers work harder to drive performance — clicks, conversions, and ROI. Manufacturers gain access to new reporting and optimization capabilities, and retailers get additional product marketing support with a fair cost split.

Microsoft wants the rebrand to do for Microsoft what the launch of Amazon Advertising achieved for Amazon and the rebrand of Google AdWords to Google Ads did for Google: raise awareness for a broader portfolio of products.

Why the Rebrand Is Good

I believe that the expansion of ad products under the Microsoft brand is good for advertisers for these reasons:

  • Businesses have more options beyond the Big Three of Amazon, Facebook, and Google.
  • Stronger competition will lead to innovation with product development.
  • As I noted, Microsoft delivers a valuable audience, more so than many businesses know.

At True Interactive, we work with businesses to develop successful campaigns across all these platforms and more. Contact us to learn how we can help you succeed.

3D for Brands: No Longer a Novelty

3D for Brands: No Longer a Novelty

Advertising

3D is no longer a novelty. It’s becoming a way for businesses to share both advertisements and organic content. Case in point: Bing Ads recently teamed with Samsung to create 3D advertisements that display when consumers search for Samsung Galaxy devices on the Bing search engine.

Here’s how it works: an option for a 3D ad appears when an individual (using Bing) searches for the Samsung Galaxy S10 or S9 on their desktop. The ad, which expands to full screen size, can be manipulated by rotating the image, or zooming in on it. But it’s more than a zoom. Consumers see every aspect of the Samsung device plainly, from multiple angles, and can click on an image to access product details.

As Ravleen Beeston, UK head of sales for Microsoft Search Advertising, said in a statement to Netimperative, “These new 3D ads, unique to Bing, herald a new era of search advertising when it comes to displaying products through desktop search since they complement and enhance the experience for consumers looking to engage with a product.”

3D on Facebook

In addition, Facebook has made it possible for both businesses and consumers to post 3D photos, which makes organic content really pop. As discussed in this Digiday article, the 3D photos are “inherently thumb stopping.” If long-form video is showing a decline in effectiveness as attention spans likewise decline, 3D photos promise to be the next frontier. And brands are jumping at the chance to engage consumers in a fresh way. 3D can be especially useful for retailers trying to showcase products that require close inspection—expensive cellphones, for example, or even food. Food delivery service Bite Squad, for one, has capitalized on the opportunity by posting 3D photos, including one of BBQ from Famous Dave’s. “My goal is to catch your eyes as you [are] scrolling your feed,” Craig Key, CMO of Bite Squad, said, adding that just the sudden movement of an image can be a reason for users to scroll back up.

What You Should Do

At True Interactive, we recommend that you constantly look for ways to incorporate technology such as 3D if they are appropriate for your business:

  • Understand how 3D might add value to your paid and organic content. Don’t be gimmicky about using 3D. Have a specific goal in mind, such as increasing engagement with your ads, especially for products that require high levels of consideration.
  • Be aware of companies such as ThreeKit that provide technologies to help you design advertisements in 3D.
  • Work with an agency partner such as True Interactive that knows how to incorporate formats such as 3D into a larger advertising campaign.

Interested in exploring the opportunities inherent in 3D? Call us.

Advertiser Q&A: Bing LinkedIn Profile Targeting

Advertiser Q&A: Bing LinkedIn Profile Targeting

Bing

Bing has been rolling out in beta mode a feature that makes it possible for businesses to target Bing advertisements by relying on LinkedIn data. The feature, known as LinkedIn profile targeting, is an example of how Microsoft is monetizing LinkedIn a few years after Microsoft purchased the popular business-to-business platform. In the following Q&A, we answer questions that our clients are asking about LinkedIn profile targeting. 

1 How does LinkedIn profile targeting work?

With this new feature, businesses running search campaigns in Bing can target people based on information they’ve shared on their LinkedIn profiles – specifically their industries, companies, and job functions.

So, let’s say I want to run an online search campaign targeting marketers in the financial service sector. I can target ads toward people who have identified themselves on LinkedIn with that specific job function in that particular vertical.

2 What’s the advantage to using Linked profile targeting?

According to Bing, LinkedIn profile targeting offers three advantages:

  • Relevance: LinkedIn can help you target the right audience. More-targeted audiences allow you to bid boost more precisely.
  • Ease of use: you can set up LinkedIn profile targeting in minutes.
  • Unique to Bing ads: Bing Ads is the only digital advertising platform (outside of LinkedIn) to offer LinkedIn profile targeting.

3 Who is a good match for LinkedIn profile targeting?

LinkedIn profile targeting is ideal for any business-to-business company. Bing can target:

  • 145 industries including consumer goods, hospitality, and financial services.
  • 80,000 companies such as Adobe, Disney, and Starbucks.
  • Job functions such as marketing, finance, and operations.

Also, this tool could be a more efficient way for smaller B2B companies who want to capitalize on LinkedIn but might find LinkedIn advertising products to be a too costly. LinkedIn profile targeting makes it possible for those businesses to capitalize on LinkedIn’s audience in a more cost-effective way.

4 What are the limitations of LinkedIn targeting?

  • The feature might not be as useful for consumer-facing firms.
  • The feature is based on job function (e.g., marketing), not title (e.g., CMO). So you can’t target people with specific titles.
  • LinkedIn profile targeting is based on information that LinkedIn users share about themselves. It’s only as accurate as the data people report.

5 I don’t use Bing. Why should I consider Bing in the first place?

Advertisers should consider Bing for a number of reasons. For example, the typical consumer on Bing spends more per purchase. My colleague Tim Colucci shared more reasons in an October blog post, “Why Advertisers Need Bing.” Check it out for more insight.

Plus, I believe there is much more value to LinkedIn profile targeting that I hope Bing will make available to advertisers soon. I would like to see Bing expand this new feature to include enhanced demographic/behavioral filtering. For instance, it would be useful if we could target certain interests and specific abilities/knowledge (either based on self-reported data or on post engagement) and maybe even years of experience. This capability would have a number of benefits. For instance, in the higher education space, universities could offer an operations management MBA program to target candidates with more than two years of experience who have field-related abilities like strong communication skills, and who share an interest in inventory forecasting, logistics, and quality control.

6 What should I do next if I am interested?

It’s a closed pilot. Not everyone can just do it. Reach out to your Bing representative or agency partner, such as True Interactive. Contact us. We’d love to help!

Why Advertisers Need Bing

Why Advertisers Need Bing

Marketing

I know of businesses that consider Microsoft’s Bing search engine to be a “cover-your-bases” alternative to Google. But Bing continues to grow as a strong advertising platform on its own terms. As The Verge reported recently, Bing is contributing to surging growth at Microsoft:

Microsoft’s search advertising revenue from Bing has been growing steadily over the course of the financial year. Each quarter it has consistently grown by around 15 percent, and Q4 is no exception. Search revenue is up 17 percent, thanks to higher revenue per search and an increase in search volume. While many are quick to dismiss Microsoft’s Bing search engine, Microsoft might have a unique opportunity to capitalize on its search engine after the EU ruled to force Google to unbundle its search app from Android. Phone makers will certainly be looking for opportunities to bundle rival search engines and browsers in the coming months.

Here are two reasons to invest in Bing as an advertising platform based on its own merits:

1 Bing Is Valuable

At True Interactive, we have seen larger average order values on Bing compared to Google. In other words, the typical consumer on Bing spends more per purchase. Why? The average Bing searcher probably has a higher income level than the average Google user.

2 Bing Innovates

Bing has been a forward-thinking innovator from the start. For instance, Bing’s visually stunning layout, emphasizing crisp graphics, has always been light years ahead of Google, making Bing literally a more attractive-looking platform in the Instagram age.

Bing continues to raise the bar with visual content. The recently launched Bing visual search extends a strong visual search capability across both Android and iOS devices, whereas visual search on Google remains limited to the Android world.

Bing innovates in many other ways, too. Recently Bing announced Spotlight, which relies on artificial intelligence and an extensive knowledge graph to provide a more well-rounded perspective on news that evolves over time. As Bing explained on its blog, “Spotlight shows users the latest headlines, a rundown of how the story has developed over time, and relevant social media posts from people around the web. Spotlight also shows diverse perspectives on a given topic so users can quickly get a well-rounded view on the topic before deciding what they want to go deeper on and read by clicking on any of the articles.” Here’s an image from the post:

Microsoft’s ownership of LinkedIn gives Bing more fertile ground to innovate. Bing recently made it possible to allow advertisers to target LinkedIn audiences. By contrast, Google Ads lack this option.

Google remains the top dog in search because of its market share alone. But Google is not the only option. Bing provides advertisers a tool to tap into a wellspring of innovation especially as consumer behavior continues to evolve with visual search.

For more insight into how to integrate Bing into your own digital marketing, contact True Interactive.