may end up where you are heading.”
- Court next generation marketers. Today more and more senior leadership positions are being given to digital natives, and old industries like banking and retail are being renovated by digital innovations. Print was the first media segment to experience digital’s creative destruction, and Canada’s leading print publisher, Postmedia, has demonstrated that necessity is the mother of invention by creating a division to structure innovative deals with startups. They invested $50m worth of media in Vancouver fintech company Mogo in exchange for equity and revenue share in the company. A Mogo investor recently explained to me how this tailor made deal enables the startup to match their necessarily back-weighted revenue from consumers with deferred customer acquisition costs – bringing highly desired balance to their business model.
- Conform to programmatic ad buying protocols. In the digital realm, ad buyers pay primarily for targeted audiences, and less so for mass reach. In campaigns where mass reach is the primary goal, traditional media companies can continue to play to their strengths, but in addition they now need to support media buyers who are orienting around consumer attributes beyond merely age and gender. Television is the area with the most buzz around programmatic tech, but other segments will soon be subject to the same demands. Canadian leaders in the space are already launching new automated platforms such as Pattison’s AdShop.ca or Newad’s Campsite.
- Leverage high quality content in new ways. Radio’s most compelling aspect is the collective voice of its speakers. The insights provided by these artists, thinkers and commentators can easily be repackaged into new forms such as podcasts or Snapchat stories. And producers of television content are fortunate that video will continue to be the most dominant type of content. The couch will always be a good place to watch video, it just won’t be in the linear broadcast format we’re most familiar with but in new formats that will blend subscription revenue with and precisely targeted ad dollars.
- Work with a forward-thinking company that is solving these challenges for media companies. Discover Media House’s platform makes for a smooth transition into programmatic selling and we have recently launched our innovative Inflection Program to connect media companies to next generation marketers. Startups rarely consider traditional media despite its incredibly cost-effective reach and so we’ve partnered with DDB in a national brand building initiative to educate startups on traditional media and to find opportunities for the right companies to form long-term partnerships with media suppliers.