Over the last several years I have had this feeling - Why should an environment be artificial when there is full automation? What I mean by this is that, the artificial Second Price Auction for a win at a 0.01$ increment to the second best bid sounds ludicrous.
Simply because a particular audience or a particular inventory when in demand attracts a particular price and the buy side artist knows whats the best price he or she should pay. Given the perspective the bid is made to acquire a particular consumer's attention at a particular price, this is the reason why in the programmatic world bidders are so important in an operations team.
But if you take that bit away then you have mundane robot like humans just bidding at an escalated price point knowing very well that they will never lose money and whatever the bid they make will eventually get the better off with a 0.01$ increment from the second best thus by securing a particular audience.
Now this is a sham, for me if the control has to be on the buy side fully then the only transparent methodology has to be first price auctions. This ensures that no hidden costs exists and no SSPs benefit given the full transparency at the buy side at a clear price enables absolutely value for the audience the buy side is acquiring.
More and more measures for accurate pricing is required to ensure full transparency, it began with ads.txt on the supply side and now I am seeing a whole lot in the US moving slowly but steadily to the First Price Auction methodology on the demand side as the metric for bidding. The only issue would be for high end inventory, which are upwards of 25$ for example, these kind of inventory should ideally be in a PMP environment thus reducing all aspects of risks.
I strongly believe that First Price Auctions will be the only method come 2019. Move over second price auction, you will be respected in history!
Authored by: Rammohan Sundaram, 3X Entrepreneur|Consumer Internet|Programmatic Pro|Digital Marketer|HBS
"One thing which I haven't spoken about anywhere yet and is quite a secret is that we are introducing a new award and that is called - "Master of creativity award". It will be given out to that one person who has immensely contributed to the world of advertising but is not and has never been a part of the advertising industry." Said Rajesh Kejriwal, Founder and CEO, Kyoorius.
In an interview with MediAvataar India, Rajesh exchanged his career journey, point of view on the latest media mix and spilled the beans for this year’s Kyoorius Creative Awards.
Here is the complete Q&A…..
1. Tell us about your career journey so far.
One of the things that I have followed in my life is passion. Be very focused on what you do and do what you have a passion for. In other words - "Do what you love, love what you do." I have followed that mantra as my career path. I have always followed my passion which has been the biggest driving force in my transition from being a working individual to becoming an entrepreneur. I gradually built up my paper business followed by Kyoorius. Typically, what I have done is followed my passion.
2. What excites you the most in your current role?
Bringing people together is what excites me the most. I am always on a lookout for building a platform in some way that helps the communities come together, helps them get inspired, gives them a purpose in life and allows them to benefit professionally from the platform.
3. Advertising when you started off and today, how has been the transition like?
Digital and technology are the new elements that have disrupted everything that we do in life, not just advertising. Earlier, there were only three mediums - Print, outdoor and Television. However, now you have a whole plethora of mediums, platforms and screens and you have to integrate them. Advertising is far more different from what it was before. People in the advertising industry need to start accepting that technology is a major factor today and it is not just about what technology can do for advertising but also what it means and how you can harness technology for creativity.
4. What are your views on digital media?
Digital media is a great medium and people need to understand this medium, In some cases, brands need to use digital as a support medium to another activity that they are doing on television or some other platform and in some cases digital is the only medium that they should be using. I think what people need to do is define the purpose and audience very well and then look at different mediums that are available to reach that audience. One should not do digital or TV for the sake of it, but should take data or insights and use them to reach out to their audiences. Digital is one of the mediums and I don't think people should look at it as anything different than one of the other mediums. People have always been using TV, print and outdoor mediums and they have been comfortable with it. However, what people forget is because they don't understand digital as much as they should, there are a lot of gaps around what actually digital means and how it can be used to reach out to the audience. I think one should look at digital as another medium of advertising and then see what it can do for you and then accordingly make your campaign.
5. Do you like Instagram over Facebook? Your favorite form of Social Media.
It depends on the audience. As I said, much like you use TV or digital as a medium, you use different social media platforms as a medium. It depends on the TG you would like to reach out to. For eg.: in my case if I have to reach out for Zee Melt then Instagram makes less sense than twitter because we are looking at the medium of getting an advertising audience. However, if I am looking at Kyoorius Design Yatra, then Instagram makes more sense. So, I would put a lot of money behind Instagram and none or little on Twitter. I think it depends on the purpose, the audience you want, where do they go, how they use that social media platform, and how you can make sure that you are there when they use that medium
6. One thing you wish you had known when you started off?
How to handle big egos.
7. Your advice to the budding creative talent.
Listen and observe the world around you rather than the screen in front of you.
8. What does this year’s Kyoorius Creative Awards have in store for us?
One thing which I haven't spoken about anywhere yet and is quite a secret is that we are introducing a new award and that is called - "Master of creativity award". It will be given out to that one person who has immensely contributed to the world of advertising but is not and has never been a part of the advertising industry. Another thing which is very different and we have spoken very little about, is that for the first time this year we will be carbon positive. We have done an audit of all the carbon emissions that happen throughout the process of Kyoorius Creative Awards and Zee Melt and both these properties by end of May will be carbon positive. We have planted a lot of trees to offset the carbon emissions that these two produce, and we are the first to do that.
9. Kyoorius Creative Awards has taken a stand against fake and irrelevant entries with #buggeroff? How grave is this problem?
I don't think it is about us taking a stand against fake ads or scam ads. As an organizer of an award show, you can't stop the kind of entries that come into your system. All you can do is have a system and process adhered by the jury member, which weeds out such entries. We build processes and systems that the jury members follow and they are comfortable with, and they try and weed out the scam ads. Scam ads by itself I am not sure whether it is a threat or it is inspiring because at times scam ads inspire a lot of people so I don't know whether there is a ready answer to it. But we try to be as judicious as we can.
10. How is the ‘Open Jury Session,’ appreciated by the industry professionals?
Our ‘Open Jury Session’ has been appreciated immensely by the industry. One of the key aspects of an Open Jury Session is that the industry professionals can come and listen and it gives them immense knowledge on how the jury thinks, what ads work, what don't work, why they work and why they don't work. Hence, it is a great learning experience. Secondly, there is lot of transparency. They come and see the jury judging, they understand that there is no bias as the jury is doing it in an open forum and it’s great for everybody. Also, the industry comes and flags if there is an entry that is a scam. We are the only award which has an open jury. We are also the only award which is carbon positive and we are one of the few awards that do an award night that is grand. A creative awards event has to be creative and we take immense pain to make sure that the evening is as creative as it can be for the people. It should make the creative people proud to be a part of this industry and we try to make that happen.
As Queen Elizabeth II celebrates the 65th anniversary of her Coronation, Reuters explored their archive to bring the historic event back to life.
Britain's Queen Elizabeth visits the Coronation Festival in the garden of Buckingham Palace, in central London
Princess Elizabeth was only 25 years old when she became Queen at Westminster Abbey on June 2, 1953. A life-altering effect the event surely had on the young Elizabeth, it's also been widely viewed as the moment that changed the future of television.
Reminiscent of the recent Royal Wedding media frenzy, the Queen’s Coronation was watched by millions around the world. It was the first time television brought a nation together and, according to the BBC, it was watched by over 20 million people making it their biggest outside broadcast at the time.
After such resounding success, the BBC experimented with new topics, escaping the banal coverage of post-war austerity. Together with new channels, television ownernship increased after 1956 with an increasing number of people buying televisions for their homes.
It was at Queen Elizabeth's insistance that her Coronation was broadcast on the BBC so that everyone could join in the occasion.
Members of the general public were invited and television became a classless medium.
Authored By Alice Rizzo, assistant editor Reuters
When a trainer at a workshop many years back, showed a packed audience a dozen ghost sites in the background secretly tracking a user on a famous airlines website, it did create panic. Social media websites had just started to become the darling of Digital marketing folks then. Data and Privacy laws since then have continued to remain unclear, uncertain yet glorified.
With the big Facebook breach, we digital marketing and advertising folks are expected to relook at the equation. It also becomes important to understand how we reached here, the extent of the mess and the areas that concern us as we tread the path going forward.
Some of these below areas concern us:
- Our regular tools and our approach to consumer segmentation, targeting and content seeding.
- ‘How much of data’ is enough and where does the ethical boundary end.
- Practices of unethical fans acquisition and data brokerage rampage.
- Finally, what the consumer wants and the code of ethics.
Let’s take a step back. Is this data breach something new? Haven’t companies helped clients acquire fans at cheap prices or data brokers with their ability to use big data - connecting dots mapping users' personal information and making inferences for granular targeting.
The key question is if it affects Digital marketing and communication? Yes, but not much, just minor hiccups and some adjustments. We need to understand the real problem. Is it Facebook or how we approach Data and the "deep insights” we demand from these Social networks? We know, our pitches to brands rests on the richness of consumers’ data and insights we derive, then leading to the ideas we built on top of them.
Most of this is around the consumers ‘personal information’, a traditional planner or a digital strategist spending weeks to uncover consumer characteristics, their actions and insights. Folks in Digital have always been beneficiary of gaining access to vast amount of user’s personal information, including other aspects like IP, location, Device etc. Most ad networks blindly flock to Google and Facebook because these giants promise granular targeting. As an industry we may have crossed several lines too. We are all responsible for this insane world, we have landed ourselves in.
While we discuss this topic globally, both brands and consumers are in a fix today. Technology and its terrible dependency has made consumers to live in a state of continuous ignorance. Their data exposure starts from their browsing history and goes deeper exposing their likes, tastes, preferences and actions. Additionally, this problem is compounded by Social media giants whose entire premise is based on capturing consumer data details of which consumers aren’t really clear about.
Now with GDPR (General Data Protection Regulation) in Europe, and multiple other steps, we hope consumers will know what data is being collected and have the ability to remove their information from the servers if they want to.
We as marketers need to rethink targeting, tracking, privacy, data collection and its ethical usage, all over again. We need to clearly ask, how much of data capture is enough. What is that opt-in or opt-out request likely to be? For once, imagine a No-Data World (NDW), where we have broad segments basis which we devise campaigns and come out with innovative, non intrusive ways to reach out to the consumers. Think how we operate in a kid’s world. Advertising may need to get more creative and create deeper meaningful experiences. It may find it a bit difficult to change and adjust, even thought its minor; while consumers will seemingly adjust too, to a privacy based experience going forward knowing clearly what happens to their data.
Facebook or No Facebook, the data privacy issue needs a wider discussion, though we hope these social giants will take positive steps themselves as opposed to being forced by enforcement agencies. They have a responsibility towards society. Facebook did publicly apologise and ensured this won’t happen again.
Making users believe its all about connecting the world and then hiding privacy terms under complex reams under settings, needs to go. The era of Mass Customisation and Micro Addressability is being revoked and the future is about to change, yet again. Let’s be honest, to start with!
Written by Rajeev Sharma, Founder, Awrizon - a performance driven Digital Consultancy.
BigMuscles Nutrition, India’s fastest growing nutritional supplement brand, has appointed L&K Saatchi & Saatchi (an integrated communications agency and part of Publicis Groupe) as their Creative Agency on Record (AOR).
The agency will be responsible for creating their launch and sustenance communication and will have their creative mandate. The account will be handled by the agency's Mumbai office.
About the association, Charles Victor - Executive Director - L&K Saatchi & Saatchi India, says, "BigMuscles Nutrition is at a stage where they want to take the brand to the next level and be known as a serious contender in the Nutritional supplement category. We are very excited to partner with them to chart out the next chapter in fitness among India’s youth."
Commenting on the association, Suhel Vats - Director, BigMuscles Nutrition says, "We launched BigMuscles in the year 2009 and it has emerged as the top-most nutritional supplement brand in India over the last three years. L&K Saatchi & Saatchi demonstrated some robust creative work stemming from strong consumer insights. We believe their experience in working with brands globally will help BigMuscles Nutrition compete with imported brands and resonate strongly with audiences across markets. We have faith in their ability to do justice to the mandate."