Traditionally, all prestigious media houses have one thing in common: Outstanding content. In today's world, where business needs and business models are changing almost as fast as the conditions, media must have a more viable ability to evaluate and learn from data.
The digital big players, including Vice, Buzzfeed and Refinery29, have brought this skill to perfection. Their knowledge of the interests and behavior of their readership allows them to serve both the readers and the advertising partners individually right to the last detail. In that way they create a win-win situation for all parties involved. And while the only constant in the digital market seems to be constant change, these forward-looking best practices show a clear trend. Only publishers who are continually adapting to the changing preferences, platforms, channels and technologies of the market are suitable long-term advertising partners.
Personalised and relevant display of advertising messages in real time
Next generation digital media use algorithms similar to the entertainment platforms Spotify, Netflix, Facebook & Co. They know what content the reader wants to consume next before he himself actually knows it. The practice leads to a highly involved and loyal audience.
With the help of the collected data, these publishers are able to present their advertising partners exactly the target group they want to have. Here targeting takes place at a much deeper level compared to the usual demographic characteristics of classic media data. By evaluating all the available data in real-time, they are able to play out highly personalised advertising. The reports and KPIs they provide to their advertising partners through the advanced data analysis are also an unbeatable sales argument.
New personalised target groups
The large media houses not only attract new core readerships and customers with their data skills. They are also able to curate new reader segments that precisely match the target audience of their advertising partners by observing users' behavior and usage patterns across all their channels and providing content based on exactly the interests of this target group.
Constantly re-inventing yourself
Media like Buzzfeed and Vice have ventured into new spheres beyond their original core brand. Their extraordinary ability to tap new media, age groups and topic areas has now become part of their company identity. The ability to adapt to the changing needs of the market is a key factor in their long-term partnerships, and hence their monetisation strategy.
The next generation of publishers is leveraging innovative content and their understanding of data to provide readers and advertisers with an unmatched customer experience. But both the advertising industry and the majority of the publishers still have a steep learning curve ahead. Advertisers need to realise the potential that lies in this data-driven model in its entirety. Many publishers, on the other hand, are focused on delivering good and relevant content, but they have not yet recognised that they can generate and analyse the data for themselves. However, once both parties have realised what results can be achieved, there will hardly be a better alternative to communicate with their target group.
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