Publishers need to turn the social spending tide

Published: 05 Aug 2021

It’s uplifting to see growing industry positivity turning into optimism. With the Q2 IPA Bellwether report reporting increases in marketing budgets for the first time since late 2019, marketers are celebrating an end to five consecutive quarters of cuts. As buy-side confidence rises to outweigh pessimism, we can look forward to greater spending freedom that will ultimately benefit the entire ecosystem.

But with social media taking a bigger share of investment, there are also questions about how digital publishers can harness this renewed prosperity. Brands keen to capitalise on e-commerce growth are becoming interested in building direct-to-consumer operations using performance-driven advertising, mostly via social — sparking predictions of a 25% rise in ad spend. But at the same time, increased flow to other areas is seeing UK publisher budgets dip.

While media owners are striving to diversify and future-proof their revenue models, this shift highlights the need to keep enhancing and showcasing the opportunities we can provide over social platforms. As marketers loosen the advertising purse strings, they are mainly seeking scale, but also quality environments, which is where premium publishers shine brightest: not only when it comes to better user experience, less distracting page clutter, and varied audiences, but also delivering three times higher ad attention than social platforms.

To win back spend, we must communicate the value that publishing environments offer for buyers, but also make it easier for them to access and assess.

Levelling the playing field

As more publishers ask agencies how they can re-direct spend from big social platforms, one common answer keeps coming back: metrics. If publishers are willing to adopt meaningful metrics, they change the terms of play. Allowing agencies to aggregate, anonymise and leverage this measurement data will create a shared basis of understanding from which they can illustrate where premium publisher environments trump social and boost advertising investment.

Publishers’ reaction to this advice, however, indicates significant confusion around the metrics conversation. Some have pushed ahead with implementing their own brand measures, acknowledging the benefits of enabling their first-party data to be evaluated and compressed so that its true value and scale is easier for buyers to grasp. But many others haven’t been sold on the idea due to a mix of concerns and objectives. This includes apprehension about losing control over how data is presented, feeling they already have enough range to secure ad spend without adjusting metrics, and resenting what feels like coerced alignment with vendor and agency measures.

There is a certain level of imposition from agencies since this change works to their advantage. After all, the core reason why plugging in measurement solutions helps publishers unlock spend is that it makes life simpler for agencies and better equips them to present compelling, data-based proposition for brands. But it’s important to note that publishers aren’t being forced into a corner. Choosing not to embrace brand measures won’t mean they are promptly penalised with fewer buys, but it will mean agencies have a harder time arguing in their favour.

Setting individual views aside, it’s essential to recognise this as a promising direction of travel with the potential to put publishers on a level footing with social platforms and start cooperating on finding the best way forward, together.

Sharing precious assets wisely

Several agencies have a genuine desire to reduce spend with social heavyweights and support premium publishers. By supplying a level of data that’s comparable to the insights they receive from social platforms, publishers can forge mutually rewarding alliances; independently or through unified initiatives such as The Ozone Project. But as they explore broader avenues of collaboration, focus must remain fixed on taking the right course for their business.

Although sharing data for measurement purposes has many positives, it doesn’t automatically follow that the gates should be thrown open without careful consideration. Having spent years building first-party data strategies, publishers hold a precious trove of knowledge; and one that’s becoming ever-more appealing for buyers working to achieve cookie-free ad targeting. With vendors continuing to launch fresh contextual solutions, it’s crucial for publishers to ensure they know how these tools access their data and whether their data remains protected under privacy laws, or not.

Get talking about new tech

The growing need for deeper understanding of data use and current innovations is another reason why I’m excited about the upcoming AOP Publishing Tech Talk event. The week-long dive into the latest technological innovations is our direct response to calls for more insights about how publishers can make smarter decisions and harness emerging solutions effectively.

From October 11-14, we’ll be gathering experts from across the digital media and tech space for a series of webinars, podcasts, and detailed explainers that will support publishers as they step up to seize developing opportunities and tackle challenges. The main idea is to provide the information download you need in a time-effective way, with a rich menu of on-demand learning. More details on the agenda to come!

Competition from new digital media is on the rise, whether it’s for audience attention or advertising spend. Publishers have plenty of assets on their side and a wealth of experience in delivering exceptional value. Reversing the tide away from social media platforms is well within our power, but it will take decisive, collective, and balanced action to attract spend and even the odds, responsibly.