How do you define “premium” in today’s digital landscape?
Hunt of Vénéssa
Research shows that premium environments make campaigns more effective. But in today’s digital landscape, how do you define the term ‘premium’ and why does it make a difference? Hunt of Vénéssa Explain.
Once upon a time, digital media was the new kid on the block. A shiny new toy. A novelty. But those days are long gone and today just about everything has a digital element. From billboards to television, all areas of growth are leading to digital.
But in a world where everything is digital, how do you sort the good from the bad? What does it take for a digital environment to be considered “premium”?
In my opinion, there are four pieces to the puzzle.
1. Be supported by premium content produced by professionals
For ad environments to be considered premium, they must feature professionally produced premium content. And there are several ingredients that go into creating genuine premium content. Quality is one but more than that, premium content engages, inspires and defines Australian culture. This content aligns with the moments that matter to Australians and brings them together around the water fountain, real or virtual. From creating must-have content like your favorite reality shows or dramas to news and sports coverage, premium content is at the heart of Australian culture.
Professionally produced content also creates premium context. With recent and ongoing changes to privacy and tracking, the way we target audiences is changing. Contextual relevance provides an environment for your brand to reach the right customer, at the right time, and in the right frame of mind. In fact, a recent study from Integral Ad Science found that 80% of consumers say that the ads related to the content they watch have an impact on their perception of the brand.
With premium digital content spanning a range of genres including entertainment, lifestyle, finance, automotive and sports, there are contextual environments relevant to advertisers in a multitude of different categories.
2. Brands people know and trust
History and research show that when brands work together, they lend and borrow their core attributes from each other. Think of iconic collaborations like Tim Tam x Zumbo, BMW x Louis Vuitton, Go-Pro x Red Bull. What makes the success of these partnerships is the positioning, the audience and the tone. These are all relevant factors to consider as part of your media buying strategy, as brand transfer also occurs between posts and the advertising placed there.
Reliable and stable brands that have stood the test of time provide a positive halo effect for advertisers. And consumers trust premium media brands, as evidenced by their willingness to subscribe and log in to see the content offered by these posts. This clear value exchange, in turn, supports the first-party data opportunity for brands looking to advertise in these publications.
3. Brand security
Of course, there is great User Generated Content (UGC), but platforms that rely on unmonitored UGCs are not without risks. There are too many stories of events broadcast live that should never have been broadcast live or content downloaded without going through a series of checks and balances.
It’s risky, isn’t it? And the only way to mitigate the risk is to choose digital environments where content meets standards and regulations.
In 2020, reports of illegal and harmful content in digital environments have reached a new high. And earlier this year, Australia’s Electronic Security Commissioner revealed that reports were up 53% for the first quarter of 2021.
No brand should be associated with hate speech, violence, pornography, bullying, drugs, gambling or illegal content. A 2019 survey by the Trustworthy Accountability Group and the Brand Safety Institute found that 80% of consumers would be dissuaded from buying a product that advertises close to that product.
Add to that Magna’s The Brand Safety Effect study which found that ads appearing near negative content lead to a 2.8-fold reduction in intention to associate with those brands and we can all agree that this is something to be avoided.
But more to the point, if this is the kind of business your advertising keeps up, it is likely helping to fund serious damage to Australians of all ages but, more alarmingly, children. Surely that’s not where you want your ad budget to go and it sure doesn’t sound very premium, does it?
4. Significant scale
Even if you’ve covered the first three, for an advertising environment to be meaningful to advertisers, you need to have some form of scale. The world’s most beautiful brand-safe site is irrelevant to advertisers if only four people visit it.
In his book How Brands Grow, marketing guru Byron Sharpe says brands need to target broadly to attract new customers, because growth won’t come from the customers you already have who buy more of your product. So if you want to grow your brand, you need to grow.
Keep in mind that not all so called “ladders” are created equal. When it comes to getting the most exposure for your ad dollars, it’s tempting to be wowed by large global audiences, but not all large audiences are what they seem. first sight. Do your homework and make sure that, regardless of the platform, people actually see your ad, in its entirety, and for enough time for it to have an impact.
Together, these four elements create a premium digital environment that produces a proven halo for marketing effectiveness.
Venessa Hunt is the Managing Director of ThinkPremiumDigital.