Steuer and Minsky: A Mind Meld on Omnicom, Advanced TV, and Data – Insider InSites Podcast

The two have a lot in common aside from both being recognized industry futurists and fans of the Eagles Each played a role in shaping OMG39s advanced TV strategy First Minsky evangelized and implemented early phase addressable TV and automatic content recognition ACR data in campaigns for Fortune 500 clients until 2015 Then Steuer took the reins and created a platform to buy datadriven and addressable TV which has become an integral part of Omnicom39s crossagency data and people platform quotOmniquotI on the other hand appreciate the Eagles I assumed they were talking about the band not the NFL team as I know Minsky is Cowboys all the way But otherwise I was just a fascinated fly on the wall during Minsky and Steuer39s farranging conversation about Omni the future of advanced TV and the impact of data legislation in Episode 40 of the Insider InSites podcastYou may want to play this episode here several times to glean all the smart insights Better yet subscribe or download via Stitcher Spotify iHeartRadio GooglePodcasts Apple TuneInand YouTube since the following are crib notes edited for clarity of their forecasting and punditryThe conversation kicked off with Minsky teeing up the reality on the need to quotbe smarter with paid advertising in a world where the pool of inventory for it is shrinkingquot And Steuer acknowledging that quotdata is important but data itself is an enabler to have a better more efficient conversation amp8212 one that39s better for advertisers and better for consumers Since we39re on a path to lower ad loads overall it39s imperative to use that data in a cleverer wayquot Here39s how Omnicom is applying those insightsSteuer on Omnicom39s quotOmniquot platformquotThe notion of Omni isamp160as much a framework as it is a platform It connects a bunch of tools together with an underlying identity framework that39s compatible with all of the identity solutions in the marketplace The idea is to be able to use that to have a personlevel or a householdlevel conversation throughout the entire advertising process amp8212 the entire consumer journey And that begins with tools that let us see signals about what consumers are doing in the marketplacequotOn Uptake by Creative AgenciesGiven Omni39s rollout to the Omnicom media agencies amp8212 as well as creative agencies such as BBDO TBWA and DDB amp8212 are they using it and perceive a value from itquotIt39s early daysquot said Steuer quotbut we39ve found many of our big client relationships now involve explicit collaborations between an Omnicom creative agency and a media agency That39s where we39re getting sort of the initial pollamp160 Having a common framework to connect all of our creative planning buying measurement reporting and optimization tools together is better than trying to go out andamp160smash together 27 different vendor solutions without that connective frameworkquotBut there has to be flexibility because the right tool for one industry might not be right for another and the right dataset for one industry might not be the same as for another So the focus has been on an open and connectedamp160platform rather than a unified platform It39s a mechanism to provide a common footing that everyone throughout the creative and media delivery and optimization process can take advantage ofquotOn the role of ATSC 30 in an IPenabled TV WorldMinsky explained that the Advanced Television Systems Committee 30 ATSC 30 creates technical standards for the delivery and reception of overtheair broadcast TV The latest standard which was finalized in January 2019 allows for twoway interactivity and addressability However few broadcast stations have upgraded so far and TV manufacturers have not yet upgraded the internal hardware to enable ATSC 30quotIt39s kind of a race right now and I39m not sure who winsquot Steuer acknowledged quotThe thing that39s interesting about ATSC 30amp160as opposed to the other two IPenabled TV and streaming video amp8212 both of which already have the momentum amp8212 is that it solves for all the other TVs as well So once that39s the standard we39d be at a point where literally every video impression is addressable And I think the reality is all TV formats are likely to survive There is political and national security interest in actually maintaining a broadcast television infrastructure regardless of how popular streaming becomesquotOn Embracing Dynamic Creative and VersioningSteuer believes that quotthere39s much more effort in that direction coming from a combination of the bigger scale of addressable and the fact that streaming has grown up as an addressable platform There already are reasons to do lots of creative versions and figure out how they work One of ouramp160clients is currentlyamp160running a campaign that has 300 different creative variants They get that a differentversion of the message to a different person at a different point in time is the right way to have a conversation with them and try to get them to convertquotOn What the Future HoldsquotI think consumers will be able to pull back more control of their media experiencesquot Steuer asserts quotI think ultimately it39s good for everybody in the advertising ecosystem and for humans in general to have better ability to control their privacy their personal data and where they choose to engage with advertising A thing I would love to see and that I39ve been working on in my copious spare time is to try to pull together a unified measurement framework for the media industry Because the alternative to that is advertisers have to keep guessing about how disparate data sources are working together amp8212 and that will keep resulting in overfrequency of advertising and loss of controlquotMinsky added quotI don39t think I39ve seen as much innovation or volatility with both potential benefit and potential threats to the entire industry39s models Certainly if you bought into the fact that data is everything and data is the future it39s going to be very interesting to see where the privacy legislation nets out Firstparty data is still gold Firstparty data is the clients39 they can use that But outside of that it39s going to be very interesting to see what happens with state privacy legislationquotHaving said that we39re also at the precipice of 5G From my experience every change in media consumption across the digital era has been predicated on a leap of bandwidth And here we are standing at one of the biggest leaps of bandwidth that we39ve ever seen as a civilization And so what doesamp160that mean for 4K 8K immersive 360 Over the next 12 to 24 months that will become selfevidentquotAs Minsky would say quotBut WaitThat39s Not Allquot And he39d be right Listen to the full episode to hear it allClick the social buttons to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Steuer and Minsky: A Mind Meld on Omnicom, Advanced TV, and Data – Insider InSites Podcast

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Steuer and Minsky: A Mind Meld on Omnicom, Advanced TV, and Data – Insider InSites Podcast

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