Randy Kilgore, the new Chairman of the Interactive Advertising Bureau, has been sharing his views on the future of digital advertising: there, he opines, “three fundamental truths” which everyone involved in generating online advertising sales needs to be aware of. That’s not just advertising sales managers and creatives, that’s everyone from the business development manager to the search engine marketing specialist.
Kilgore, who is chief revenue officer at Tremor Video, succeeds the former IAB chair Peter Naylor (NBC News Digital’s Executive Vice President of Ad Sales). He believes that online advertising “should be as much about insane creativity and storytelling as TV.”
Why touch, data and time matter
TV has sight, motion and sound to entice viewers; but interactive media throws in touch, an additional — and very powerful – tool, he declared. He went on:
“When someone leans in to look at your ad, hits “play’ to see it a second time, opts in to see additional content or “likes’ your ad on Facebook, they are touching your brand.”
But this is just the first of the fundamental truths Kilgore has in mind. Just as important for the successful business development manager is his second essential truth: data.
Data by the petabyte
This of course is not especially radical news for the jobbing business development manager, who is knee-deep in the stuff much of the time. As Kilgore notes, there are petabytes of data coming in all the time (a single petabyte can hold around 58,000 HD movies or approximately 13 years of programming). Putting it into context, he explained that Facebook stores about 100 petabytes of data. That’s one heck of a lot of it.
But, Kilgore says, sifting through the data “onslaught” is most definitely worth the effort. Somewhere in that unwieldy data haystack, he argues, is “the magic that can propel the next ad, or the next Web series, to greatness.”
The third fundamental truth? Time. Generally, the more time potential consumers spend with a brand, the better for business. Research from his own firm, Tremor, found that when a viewer engages with an online ad, purchase intent rises by 8 per cent.
Under his stewardship, Kilgore wishes the IAB to shift digital advertising “from direct response metrics to a powerful place to build brands.” It’s going to be an interesting tenure.