The birth of the internet shook the foundation of many markets, in particular our own media industry. Over the past decade and a half, online advertising has blossomed into the potential genius alternative to the more traditional media outlets — wooing media buyers with the promise of “real-time metrics” and the technology that allows better targeting capabilities. It’s all these promises of marketing capabilities that has propelled online media into securing a larger slice of overall budgets — stealing dollars from traditional media bucket. However, in order for online media to surpass traditional media budgets, the industry must further innovate in terms of scale and targeting. This will involve delivering value above and beyond what advertisers are currently capturing from TV.
One of the critical components that will enable the shift in budget allocation is in the one thing that makes online advertising so unique: the underlying power of ad-targeting data. As it currently stands, the digital industry is overrun with data: “Data, data everywhere, but no one has the means to truly leverage it.” The digital ad industry is still a ways off from being able to leverage “data potential” from ad context and consumer behavior.