The 2020 NewFronts, taking place virtually at the end of this month, will happen through the lens of an industry reshaped by the pandemic. Businesses have had to innovate more than ever during COVID, particularly around their spending strategies for marketing and advertising. In a Beet.TV interview, Amanda Richman, US CEO of Wavemaker, discussed the ways that the pandemic has forced brands and brand marketers to lean into their creative side.
The industry is now entering a second phase of the COVID pandemic where companies are thinking more long term about the opportunities available given the evolved consumer behaviors.
“[We are now figuring out what it means] to think about media overall and how we can better connect media itself and messaging using all that we have at our hands when it comes to data and technology,” Richman says.
The goals of this next stage include making the tonality of the messaging more relevant and being more service-focused in that messaging. It also means thinking creatively about how companies invest differently.
“Now it’s more towards that creativity and how do we really unleash the power of technology and data to make that happen and make it real,” Richman says.
Richman also touched on the popular questions that are specific to brand marketers at the moment.
“There’s always this aspect of inspiration and what does the future look like and am I moving fast enough to get there,” Richman says. “But there’s also the underlying principle of what is measurable and how will this drive my business.”
Right now there is more emphasis than ever on what incremental dollars can be added where against what audiences, programs, and platforms in order to see what equates to meaningful sales. It has created a dynamic where the more innovative forecasting techniques must also be balanced with a more conservative approach.
“You’ve got that dichotomy of the creativity and the innovation and the no boundaries with also the realities of demonstrating how we can learn, understand, and iterate to get to their sales goals,” Richman says.
This video is a preview in a series leading up to the 2020 IAB NewFronts. Please visit this page for additional segments from the Road to the NewFronts 2020. This Beet.TV series is presented by the IAB. To request a free invitation to the 5-day virtual event, visit this page:
