24/7 Real Media's David Moore on Ad Innovation
David Moore, chairman & CEO, of 24/7 Real Media talks about changes to the industry and new innovations.
Transcript: 24/7 Real Media's David Moore on Ad Innovation
The industry is changing rapidly. There has been a lot of consolidation. As a result the bigger are getting bigger whereas the small are becoming less significant and that was one of the reasons why we were recently acquired by WPP, was to achieve critical mass that would allow us to compete and deal with some of these challenges.
The challenges are that the audiences are fragmenting more than ever before, it's tougher for an advertiser to find the right ad for the right person at the right time. There are new technologies that are springing up day in and day out and our challenge is to continue to innovate and insure that we continue to have a viable position in the future. The bigger you are the harder it is to maintain the same kind of growth as a percentage year after year as it was in the past.
Regardless of how the economy reacts, we see good growth for the digital advertising marketplace now and in the future. The advertising agencies are doing a much better job than they have in the past in terms of creating advertising that is displayed on the web and in other digital mediums. So you are seeing a lot of innovation there that you haven t seen before. But additionally we are seeing more and more innovative techniques that are used for targeting and at 24/7 Real Media we are very focused on being able to target as well or better than anyone else in the marketplace. Ultimately it comes down to your technology and Open Add Stream which is technology that was developed back in 1995 is now in it s 6.0 version is licensed by over 400 companies, serves over 1000 websites and as a result we have a lot of experience at being able to target well, i.e. putting the right ad in front of the right person at the right time.
In the past advertiser would spray their announcement to an entire demographic, along with other demographics, in an attempt to find those customers who were most interested in their product. Now today with search, it's all about the pull, the consumer is looking for information and provides a whole new avenue for advertising in that you know that the customer is interested in your product if they are in fact searching for it. However I think it is short sighted to the think that the search will be the end all and be all to consumer control because consumers don't search for stuff that they don't know about.
Display advertising will always be important in terms of creating awareness so that people do know what to go to the web to search for.