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Of course we all want to reach the right person, in the right place at the right time…but at what price?
As the digital media evolution continues apace, audience fragmentation is inevitable. With the shift away from mass marketing driven by greater use of data we can target by, lifestyle, location, time preferences, hobbies or whatever group is most likely to buy your product.
More and more media owners are developing new tech platforms to hyper target and monetise these audiences (think Planet V, Dax, Atlas etc) which fundamentally we all love.
After all, these new platforms will help future proof media businesses by either delivering incremental reach or by encouraging new advertisers in at a lower entry capital cost.
However, the more levels of targeting you implement, the greater the cost. For example, if our targeting is 30% better but costs are 300% higher our efficiency is up but our cost efficiency is down! Where’s the sense in that?
It’s imperative these great initiatives don’t prove to be the Emperor's new clothes but an opportunity to help businesses grow and move forward!
Innovation is to be applauded but cost-efficient innovation deserves a standing ovation.
