Agency buyers are optimistic that this year’s media budgets will continue to show growth for equitable investment. Stacey Stewart, chief marketplace officer at sibling IPG Mediabrands agency UM Worldwide, told Ad Age that although clients may be keeping money closer to the vest this year, the benefits of diversifying spends has become more apparent over the past years.
“I remember back in the day, maybe Hispanic was always the first thing cut,” said Stewart. “Everyone’s realizing now that [equity investment] is so important and so critical to building a brand and connecting with a community that I think it’s become less of an issue.”
Another agency buyer, who requested anonymity, said, “History shows in the past year where we were seeing some of these business challenges and things getting cut … the diversity budgets were actually oftentimes the most protected because of the fact that it served a need, which is to make sure that you have a balanced approach to your audience.”
What brands can do
The top advice was to not only buy from diverse-owned media, but to do so directly and utilize their tech and data capabilities. Many presenters partner with programmatic buying platforms, but warned advertisers when investing with sellers of their scale, true results don’t come from blasting out blanket creative from a demo dropdown box.
“We’re such a hot commodity today because [brands are] building social capital,” said Damian Pelliccione, CEO and co-founder of LGBTQ+ streamer Revry, during a panel. “You can’t do that programmatically because there is a disconnect through ad servers with partners like us who are trying to educate and guide you through that process so you get the maximum return on investment. Programmatic is lazy for minority platforms.”
This year’s Magna Equity Upfront coincided with the beginning of Black History Month, but presenters advised not to limit advertising with diverse media partners or targeting multicultural audiences to themed months. Smalls-Landau emphasized the importance of “evergreen solutions.”
“Everyone talks about the one-and-done celebratory months,” she said. “Evergreen is what’s going to get us there in terms of connecting with these consumers, evergreen solutions that drive revenue and sales for your brand and accountability for diverse audiences and growth segments who stimulate traction in the market.”
from Digital Marketing Education https://ift.tt/gAv7U5P
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