Archive for the ‘Agencies’ Category

Liquidity is "Easy," Valuation is Hard

Monday, February 22nd, 2010

The Provocateur: Darren Herman of Varick Media Management“The Provocateur” column is intended to incite discussion on a variety of topics around the evolution of digital media.

Darren Herman is Founder, Varick Media Management and Chief Digital Media Officer of kirshenbaum bond senecal + partners

Liquidity is “Easy,” Valuation is Hard

- Current “demand side” technology platforms do not ingest client side data (other than ad-serving data) so most bidding is done for pricing efficiencies which is why publishers are freaking out.

- Unless pricing is done strategically by the true demand side, then the opportunity is limited for “media plan partners” as the sharing of the really useful data is limited.

- If we’re moving into a real-time environment, knowing what we want to pay (bid) for each impression is going to be key but a major technological undertaking at real true volume.

- Does pricing of inventory sit separately than inventory procurement? Is inventory procurement the “last mile” where “pricing” is extremely strategic?

Our industry is moving fast, but are we moving in the right direction and with the right infrastructure? This question is one that truly keeps me up at night.

There is a lot of focus in two areas of our ecosystem:
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Brand New Opportunity

Friday, February 12th, 2010

Evolution Of The Agency Buyer-Planner“the executioner” opinion expressed below is written by Natalie DiBerto, Lead, Account Services, ATOM, at Razorfish.

Advertisers often feel their brand is their most valuable asset and spend lots of time, effort and money to build and maintain it. Of course an advertiser would know their audience, right? Right, but the real question is if an advertiser knows who its online customer is. If an advertiser is defining its audience based on direct mail, focus groups and other traditional forms of research, is it right to assume this audience profile mirror the attributes of an online customer? Chances are some intuitive characteristics match, but it’s possible that some attributes are different.

One of the attractive benefits of the exchanges for brand advertisers is the ability to identify and target specific audiences through data. Now, we use an overlap report with a third-party data provider to identify key segments which closely align with site converters or visitors, then target these users within the exchange landscape. Although data says they should, these mid-funnel users may or may not align with the advertiser’s perception of who their target is. It gets a little dicey when perception and quantitative data don’t align.

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VivaKi's David Kenny On The Agency Challenge, Creative And Automation

Wednesday, February 10th, 2010

David Kenny is Managing Partner of VivaKi, which combines the media and digital assets of the Publicis Groupe including Starcom, Zenith, Mediavest, Optimedia, Digitas, Razorfish and Denuo.

David Kenny of VivaKiAdExchanger.com:  Everyone is talking about how agencies need to evolve media buying. Every major holding company has announced a media trading desk strategy. What areas of the workflow have not been addressed?  What is the “not obvious” stuff?”

DK: When the industry talks about media trading, they generally talk about negotiating clout and leveraging investment strength to drive lower prices on inventory.  The ability to do this is, of course, more important than ever given the economic crisis from which our clients are only just beginning to recover. But it’s really the price-of-entry.

What we need to do more aggressively is leverage our scale to achieve advantages beyond price. For example, VivaKi faces the media owners and the networks to find new ways to add value to our agency brands and their clients. To aggregate data. To target people more accurately and effectively. We are building a smarter service model as an aggregator of scaled audiences that are identified for their passions, and we are building the pipelines like Audience on Demand that connect clients to those audiences in meaningful, relevant ways.

“Trading” for VivaKi is as much about data solutions, marketplace intelligence and digital hubs as it is about aggregating investment dollars to get the best price. We want to become the world’s best at leveraging our scale and clout to deliver performance marketing, search, mobile, new connections in an ever changing, digital world.

Trading clout can also be leveraged to open new content opportunities. Our Microsoft Agreement, for example, includes the creation, production and distribution of new programming ideas across the digital palette. By working with partners to co-create new content and experiences, we can secure more opportunities to make brands an authentic part of the entertainment consumers seek.

AdExchanger.com:   Following up on my first question, how do you see the creative agency evolving in the future given the continued integration of technology in media?

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Former Mindshare CEO Scott Neslund Appointed Red Bricks Media CEO; Discusses Digital Strategy

Monday, January 11th, 2010

Red Bricks MediaThe former CEO of WPP Group’s Mindshare and President of Publicis Groupe/Starcom MediaVest Group’s StarLink, Scott Neslund, has been named CEO of Red Bricks Media, a search and performance marketing agency.   Read the release.

The allure of digital continues to draw top executives as Neslund’s appointment echoes last week’s announcement that GroupM’s new CEO would be their digital media chief, Rob Norman.

AdExchanger.com spoke to Neslund about his new role, display advertising and the ad holding company world he left behind.

AdExchanger.com: Given RBM’s cross-channel aspirations, what do you see as the advantages of an agency like Red Bricks Media with its digital roots in competing with traditional media agencies in areas such as TV, newspaper or radio media buying?

SN: With media moving more into data rich digital formats, and with our background in data driven marketing, we will be at a competitive advantage against agencies with a traditional/offline media planning approaches. We know how to use digital data to target and market to consumers. Traditional media will always exist but we plan to be experts in all the new digital forms of traditional media.

AdExchanger.com: Does RBM see display advertising as an opportunity? Any discussion around leveraging the agency’s search specialization to exploit data-driven demand-side platforms for display advertising?

SN: Yes. With more display media going into technology driven ad exchanges and more display media going to behavioral targeting, it is data driven marketers that will be in a great position to compete.

AdExchanger.com: What are your thoughts on the ad holding company model? What will it need to do survive – or should it?

SN:Holding companies need to make sure that they keep their overhead costs down and don’t become just an added expense to advertisers. Holding companies that break down functional silos to work for the benefit of clients and keep overhead costs down will survive in the future. Those that don’t will have a tough time.

By John Ebbert

Aegis Gets Pants Pulled: Is The Agency Performance Model That Far Away?

Sunday, January 3rd, 2010

Agencies Need PerformanceUK’s Telegraph is reporting that traditional media agency Aegis is being forced to reveal discounts for TV and newspaper ads it bought on behalf of yogurt company Danone in Germany. And you thought they only ate schnitzel in Germany.

So why should you care? Well, if you’re anybody except a vendor caught in a negotiation process with a procurement officer used to working with agencies and requiring full transparency then you could probably care less. In fact, you may love it. Your competitor – the agency working with said procurement officer – is getting rooked.

But, for the agency world, the Aegis example could be a tipping point as they struggle to maintain margins, let alone increase them while procurement pounds away. It’s inevitable that the bow breaks. A little less transparency here, means a little more margin there, and then – poof! Lawsuit.

Aegis will be the loser here and this is why the agency model will change. Performance models that allow arbitrage by agencies (ad networks, too – you know you wanna be an agency!) seems a foregone conclusion. Some will say that the agency model is predicated on the idea that it is the “agent” of its client and once it begins arbitraging in order to make money off of its agency-client relationship, it’s no longer an agent. To this I say, B.S. Agencies were arb-ing the day they were born – most companies do! Clients want performance. Period. To be clear, performance is something that happens on the direct and brand sides of marketing.

The problem for agencies is that they had to let transparency into the process as too many agencies with similar offerings competed for the same client and gave the client the power to open the transparency genie bottle. This transparency led to lower margins for the agency which in the end is killing it. On the other hand, it’s also leading to a new, growing model where performance is key.

Clients need to ask themselves: who’s driving the performance agency bus? These will be the agencies (and ad networks and DSPs!) that survive and thrive in the future.

Of course, could the performance model be commoditized and its margins crushed? If so, then what? Does everything go in-house on the client-side?

Isn’t this fun!?

By John Ebbert

Executing For 2010

Monday, December 21st, 2009

“the executioner” opinion expressed below is written by Karin Blake, Senior Lead of Platform Management, Ad Exchanges, at Razorfish.

The Executioner

Ten Predictions for 2010

  1. 200% growth in the DSP market.
  2. 25% failure in the DSP market.
  3. Online publishers take an offensive position in how/where their inventory is sold.
  4. Real-time creative optimization becomes and integration solution for direct response media buying (Come on, it’s been standard {hello dynamic keyword insertion} in search since the beginning!).
  5. Some ad networks die.
  6. Some ad networks (those who don’t die) become more like agencies, offering specialized expert services + technology to service advertisers.
  7. More acronyms ensue.
  8. Site transparency improves and proves value for both advertisers and publishers.
  9. Site transparency decisions force smart publishers to understand, evaluate, and adapt ad sales models.
  10. These predictions will be delayed, beta tested, and launched late, possibly well into 2011.

Follow Karin Blake (@km_blake), Razorfish (@Razorfish) and AdExchanger.com (@adexchanger) on Twitter.

The Virtual Agency Model

Monday, November 16th, 2009

How will agencies survive if there is no agency of record?

After reading a recent Advertising Age story from Kunur Patel about “the dropping” of three digital agencies of record in favor of a competition of ideas between three others, one might justifiably wonder how is the agency going to survive in this climate. Have ideas become commodotized? (How about in 2010 we try not to use any form of the word “commodity” just for the heck of it? I’m game.) This week, in a thorough article, Patel suggests that it’s a digital agency phenomena.

Hmm, ya think it’s just digital? From here, it appears to be the entire ball of agency wax.

At ad:tech Chicago this past September, a Sears marketing executive said that, in general, he prefers the competition of ideas rather than devoting all his business to one agency. Ideally, who can blame him? … as long as agencies can continue to survive and actually compete for his business. If they can’t, he’s S.O.L. as – more than likely – he’s bringing the whole agency in-house. Good luck with creativity and innovative thinking at that point.

The Virtual Agency Model

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The Data Flow Is Like A Broken Water Main

Wednesday, November 11th, 2009

“the executioner” opinion expressed below is written by Sam Temes, Associate, Platform Management, Ad Exchanges, at Razorfish.

The ExecutionerThe CEO of a major ad exchange recently likened the flow of data from real-time ad exchanges to a fire hose – I like to think of it as more of a broken water main. There is so much information coming out and so quickly that it’s impossible for most to do anything reasonable with it. Just participating in real-time bidding requires the processing of thousands of transactions per second, reliable data centers that can pass information instantaneously, and continuous up-time. As an agency buying on behalf of my advertisers, it is technology I know little about, but I know that my clients can benefit from the kinds of insights that result from it.

As more exchanges introduce real-time bidding in 2010 and ad networks, ad exchanges and data providers enter the platform space, there will be a rush to see who can deliver the best performance and the smoothest UI. But for a platform to truly meet an advertiser’s needs (and help grow the industry), it needs to have expert plumbing that both supports scale and speed, and also allows buyers to generate insights from the data that are both predictive and significant (not to mention interesting).

Having the best algorithm won’t be enough for the savviest agencies. We, on behalf of our advertisers, are already expecting to learn what makes exchange buys perform and what we can learn from performance to help advertisers’ broader marketing. The key to a best-in-class platform will be having an expert decisioning tool and the technology and analysis to make sense of the decisions for humans. As more players enter the demand side platform space, the competition for the best decisioning algorithm is sure to heat up. But in order for exchange based media buying to keep growing, we need the tools to prove to advertisers that we can make use of the information inside the box.

Follow Sam Temes (@SamTemes), Razorfish (@Razorfish) and AdExchanger.com (@adexchanger) on Twitter.

RAMP Digital CEO Mendez Says Direct Response And Brand Marketing Are Blurred Online

Wednesday, October 28th, 2009

Jonathan Mendez is CEO of RAMP Digital, a digital, performance media agency.

CEO Jonathan Mendez of RAMP DigitalAdExchanger.com: Why did you found your performance marketing agency, RAMP Digital?

JM: I was becoming much more interested in emergent technologies for delivering relevance, namely APIs and semantic driven tools. At Offermatica (now Omniture Test&Target) our platform was 100% JavaScript and while that is really great, there are a number of targeting and dynamic content executions pre and post click that can benefit from other technology. Also, I wanted to get back into media buying. Prior to Offermatica I was buying a lot of Search. I really value and enjoy the role of buy-side optimization in the overall performance mix and with marginal returns of display approaching search the timing seemed right.

What trends have you seen in the past two or three months?

There are trends the past two or three days! There’s a huge push around moving offline data onto the web for targeting in every conceivable fashion. I’m seeing more use of bid management for display. I’m seeing consumer-oriented publishers continuing to be frustrated with technology while B2B players continue to innovate. I’m seeing Google eating everyone’s lunch. I could go on and on…it’s chaos. Things are moving too fast. You must be built for speed, not for comfort.

What’s your view? Is all online marketing direct response (DR) marketing – including brand?

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OMG Digital CEO Matt Spiegel On The Agency Model And Buying Platforms

Monday, October 19th, 2009

Matt Spiegel is CEO of OMG Digital. This is the second part of a two-part interview. The first is here.

Matt Spiegel of OMG DigitalAdExchanger.com: Given the speed of technological innovation today, some might say that media agencies will need to be more entrepreneurial, but they’re going to have a hell of a time because they’re just not built like that. What’s your reaction?

MS: No big business moves as fast as any small business. That’s just the nature of having scale in your business. So at a certain level, new startups are going to have the advantage of being able to take a look at the new and get there sometimes faster than we can as a big holding company. However, we have the advantage of when we move, we can move really big and move really strong. So our job isn’t necessarily to be anyplace first, but to be there a close second if we’re not going to be there first. And when we get there, to bring our size and scale to the marketplace.
Will any of the big agency companies be the most entrepreneurial startup environments? Probably not. But that doesn’t mean that we’re dinosaurs. We’ve got plenty of opportunity. And I think folks like myself, sitting in the agency, are going to be a tribute to that reality.

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OMG Digital CEO Matt Spiegel On The Future Buyer/Planner

Friday, October 16th, 2009

Matt Spiegel is CEO of OMG Digital. This is the first part of a two-part interview.

Matt Spiegel of OMG DigitalAdExchanger.com: Can you characterize what the buyer/planners of the future will look like? It would seem they have a math skillset and are focused on consumer insights – not just looking over an ad network plan and reporting the click-through rate.

MS: Absolutely. I think the concept of a money manager – an investment manager – is a really good one here. To me, this is where the search and display worlds are coming together. You’ll take many parts of what you have in traditional planner/buyer roles in display and marry them to the skills you have in the search buyer/analyst.

In display today, much of the work is done pre-buy. And in search, most of the work is done post-buy. I think those skills come together. So, it’s beyond simple site analysis, with audience compositions – the new role includes really good insights into who is the target audience and where do they exist.

Now, the data will exist for us to be able to really look at a granular level and say, “Who do I really want to reach? And what are the behaviors that I think are indicative or my target audience?”

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While Exchanges are Hot, It's Actually Not About the Exchange

Wednesday, September 30th, 2009

“The Provocateur” column is intended to incite discussion on a variety of topics around the evolution of digital media.

The Provocateur: Darren Herman of Varick Media ManagementLots of conversation and buzz around advertising exchanges (and exchange-like players) such as the Google Advertising Exchange, Right Media at Yahoo!, AdECN at Microsoft, Pubmatic, Rubicon Project, FIM Serve, etc., as they are popping up around the world and are attracting some serious venture investors with deep pockets such as Mayfield, Venrock, and DFJ.

The number of exchanges or exchange-like players is increasing at a higher rate than at any other time in history, and the overall advertising ecosystem is going through a renaissance period. Just this week, Google announced their release of the Google Advertising Exchange which was once called DoubleClick AdEx.

While exchanges are fascinating, they in themselves are not the transformative part of the industry.

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Razorfish VP Matt Greitzer Says Display Ad And Search Channels To Likely Merge At Agencies When Advertisers Demand It

Monday, September 28th, 2009

Matt Greitzer is VP of Search Marketing and Head of ATOM Systems at Razorfish.

Matt Greitzer of RazorfishAdExchanger.com: What can you tell us about momentum in Razorfish’s ad exchange practice? Any year-over-year comparisons that you can draw?

We’ve only been in market for about nine months, so it’s too early for year-over-year comparisons, but we’ve seen consistent month over month growth since launch. Initially demand was strongest among pure-play direct response advertisers, but recently we’ve started to see real interest from more traditional brand advertisers who are intrigued by the insight and targeting capabilities they can access in the exchange environment. So overall I would say the momentum is strong and getting stronger.

Why are demand-side buying platform strategies taking hold for agencies?

A confluence of events are driving this change, but most significantly among them are the emergence of ad exchanges as a major inventory supply source. Previously if an agency wanted to aggregate demand and make that actionable they had to take an upfront position in inventory. Most agencies aren’t comfortable taking upfront risk so they couldn’t scale these efforts. The ad exchange channel allows for massive inventory aggregation while limiting the risk of getting stuck with unsold inventory, so the economic barriers are easier for an agency to clear. Beyond that, there is a desire to reverse the trend of declining media commissions, an increasing demand for insight and repeatability in display media buying, and a number of technology players who’ve emerged in the last 12-24 facilitating agencies’ entry into this space.

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On The DoubleClick Ad Exchange: Matt Spiegel, OMG Digital

Sunday, September 27th, 2009

Matt Spiegel is CEO of OMG Digital, the digital media buying division of Omnicom Group.

Matt Spiegel of OMG DigitalCertainly, the new Google DoubleClick Ad Exchange will have big impact because it’s the first sizable pool of inventory which has real-time bidding – this is what we’ve been waiting for.

Being able to buy using real-time bidding is important for two reasons:

  1. We want to pay for the value of the impression based on that impression.
  2. We want to make those value decisions based on targeting criteria that we can bring to the table.

Today, we have certain ability to impact those targeting decisions much like there is in search from a bid rule perspective, but the targeting decisions are made in an offline way, if you will. What I mean by this is we look at performance, audience and contextual data and then model out that information to create segments and micro-segments which we can then bid on. In a real-time, bidded environment, those pieces come together and, in a real-time way, we can have a model for that impression and bid for it right away.

The impact on the industry of the new exchange from Google is significant because of the scale of the DoubleClick Ad Exchange. There’s a ton of inventory. We haven’t seen that scale ever on a real-time basis. AppNexus is out in the marketplace, but it’s clearly a smaller pool of inventory.

Regarding concerns, I don’t see any right now. Of course, no one wants to see Google hold all the cards, but Google is innovating and we can’t give them anything but kudos from that perspective. For the moment, it’s good stuff.

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Hill Holliday SVP Cahill Says Clients Are Cautiously Optimistic About Exchanges

Thursday, September 24th, 2009

Adam Cahill is SVP, Director of Digital Media at Hill Holliday, a full-service communications agency.

Adam Cahill of Hill HollidayWhat trends are you seeing from your digital media clients today?

Two of the more interesting trends are social media listening and rapid response marketing, and although clients have been asking for these independently, they’re actually closely related. Our clients want to use listening to generate insights that can impact marketing activities. At the same time, many of our clients have a need to be in market with relevant messages much more quickly than they have in the past.

As a result we’ve begun using listening in a very action-oriented way. We identify opportunities through social listening and then quickly deploy marketing programs.

Is Hill Holiday pursuing a demand-side buying platform strategy? Why or why not?

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Redefining Transparency

Thursday, September 24th, 2009

Joanna L. O’Connell is Manager of Strategic Development, ATOM Systems, Razorfish.

the executionerThe word “transparency” seems to be everyone’s favorite word these days. Clients want it, publishers fear it, and networks – increasingly – boast that they offer it. I’d like to propose that we’re thinking about this word in the wrong way and suggest that we as an industry consider changing our definition.

First, some background. In my previous life as a media supervisor, I spent most of my days working on campaigns featuring 5 to 15 3rd party ad networks at any given time. While our network-heavy plans generally performed well from a direct response standpoint, they didn’t tell us much about what was working and why. From an optimization standpoint, I was very limited, making poorly-informed, surface-level optimization decisions which never seemed to lead to the same result (“let’s cut the 728×90’s… no wait, let’s put those back in…no wait!”). While maybe we knew what sites we “might” be running on thanks to the fully transparent site list we sometimes received, we never knew what was actually happening and why so we could learn and repeat it.

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On The DoubleClick Ad Exchange: Darren Herman, Varick Media Management

Monday, September 21st, 2009

Varick Media ManagementDarren Herman is the Founder and President of Varick Media Management, an audience and media buying platform, and a unit of MDC Partners.

DH: We (at VMM) are excited about the promise of the next version of exchanges. A lot of talk has been around real-time bidding and Google should deliver on this. The impact for our clients and the industry is tremendous, as real-time bidding allows intelligent marketers to purchase impression level inventory.

The challenge will be for “real-time bidding” to scale beyond Google as not everyone buys their inventory in one place. After all, PPC advertising is click level bidding and that’s 67% Googled and 33% split between Yahoo, MSN and the rest of the industry.

An additional challenge will be for agencies to adopt this new way of buying. They have choices: build out the capability under their own roof, or use outsourced services/platform group. Understanding impression level data and real-time bidding is very quantitative and agencies will soon realize that they have to make very specialized hires. Not sure traditional agency business models can afford a mass of these types of hires.

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On The DoubleClick Ad Exchange: Nathan Woodman, Havas Digital and Adnetik

Monday, September 21st, 2009

Adnetik from Havas DigitalNathan Woodman is the Managing Director of Adnetik, Havas’ Digital Trading Network.

NW: AdX 2.0 brings massive supply liquidity to the bidded online display media space. Especially with the addition of AdSense real estate.

Google is looking to create an environment where display ad buyers compete with text ad buyers for pieces of AdSense real estate. It is their hope that with significant demand the display ads will outbid the text ads and in turn create higher yield for Google and its AdSense partners.

This will only work if Google can bring significant demand for display inventory into the system. They can maximize the demand by accepting bids from AdWords and also via networks through the AdX 2.0 channel.

[Regarding concerns], I am concerned about Google’s position as a principle in the transaction as a representative of the seller rather than as a pure facilitator of the transaction.

Google benefits greatly from the opaque AR/AP nature of AdX. They are the central transaction clearinghouse and all cash is paid to Google and Google in turn pays all their publisher partners the balance minus Google’s negotiated fee. It is rumored that Google has targeted a 20% operating margin for AdX 2.0.

In comparison other variable rate and RTB inventory sources stipulate that the terms of the agreements are between the buyer and the seller as the principles of the transaction. Terms like rev share, transparency and payment are negotiated between the buyer and the seller and therefore the economic model of each principle is transparent to each party.

In the end my concerns may be unfounded. If Google can aggregate enough concentrated demand into the system they will be able to control display much like they control search and their leverage will once again be unmatched and uncontested.

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On The DoubleClick Ad Exchange: Kurt Unkel, VivaKi

Monday, September 21st, 2009

VivaKiKurt Unkel is Senior Vice President of Publicis’ VivaKi Nerve Center.

KU: I think volume of impressions and the real-time api of Google’s new exchange are the biggest benefits, as these address the scalability and operational challenges of the original Ad Exchange. These new benefits combined with the quality of participants and simplified billing, key benefits of the original for Vivaki, definitely push Google into a leadership position in the space.

Regarding concerns, the biggest challenge for any exchange is driving adoption. It’s not always as simple as “if you build it, they will come”. The exchange represents a rather significant shift in how we typically transact, so adjusting to that for both buyer & seller takes some time.

We meet with a very broad range of publishers in support of our Audience on Demand product, which is one of our accelerates for adjusting to this new marketplace. A consistent theme we hear are concerns about cannibalization / sales channel conflicts. By releasing inventory to exchanges, some publishers fear their direct sales channels will be negatively impacted, and reservation CPMs will decline.

We don’t believe this will be the case. The diverse set of buying teams within Vivaki have consistently found great value in the large scale, idea-centric partnerships they create with individual publishers as a part of their brand-building client initiatives. Those strategies aren’t going away any time soon.

Instead, we believe overall digital dollars will continue to increase as audience-centric and performance-based media buys become larger pillars of the media plan. Google’s exchange will be key to growing that pie, as these platforms allow us to add insights to impressions in a fashion that scales for both sides. And by doing this, we are able to shift the conversation from “how much does this cost” to “how much value does this create”, which is a win/win for all sides.

I think Michael Zimbalist shares a great perspective from the Supply side that aligns with this thinking, and we hope to continue this dialogue with Publishers and see adoption of Google’s new ad exchange continue to grow.

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On The DoubleClick Ad Exchange: Michael Brunick, Mediabrands Worldwide, Cadreon

Monday, September 21st, 2009

Cadreon - the buying platform of MediabrandsMichael Brunick is VP, Media Technology Director at Mediabrands Worldwide, a media buying and planning unit of Interpublic Group.

MB: The rollout of Google’s updated DoubleClick Exchange offering – and the proliferation of other similar real time bidding platforms – marks a watershed moment in the progression towards truly dynamic, demand-driven advertising transactions. These mechanisms give us the ability to efficiently and effectively determine value and make purchasing decisions at the most atomic level – impression by impression – at scale and across a host of inventory sources. The real key to success in this area for agencies and advertisers will be to take advantage of intelligent buying platforms like Cadreon to enable buying across all of the available real time offerings as more inventory sources and media types come online.

We, of course, need to ensure that the technology works properly and is available for open integration with the technology platform partners in the space, but we also need to make sure that enough inventory and demand gets pushed through the offering so that we can provide for the continued evolution of the media industry.

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