Podcast Summary: Next in Media – "What's it like for Advertisers to Wait Around for the DOJ, and Google"

Podcast Information:

• Title: Next in Media
• Host: Mike Shields
• Description: Everything we know about the media, marketing, and advertising business is being completely upended thanks to technology and data. We're talking with some of the top industry leaders as they steer their companies through constant change.
• Episode Title: What's it like for Advertisers to Wait Around for the DOJ, and Google
• Release Date: November 12, 2024

Guest: Megan Jones, Chief Digital Officer at Digitas

In this episode of Next in Media, host Mike Shields engages in an in-depth conversation with Megan Jones, Chief Digital Officer at Digitas. They delve into several pressing issues currently shaping the media and advertising landscape, including the Google antitrust trial, the ongoing challenges with cookies, the rise of retail media, the complexities of Connected TV (CTV), the role of TikTok and creators, and the imperative of sustainability in digital advertising.

1. Google Antitrust Trial and Its Implications

Discussion Highlights:

• Megan's Perspective: Megan emphasizes the significance of the Google antitrust trial, noting that it has garnered widespread attention not just within media circles but also among clients who heavily rely on Google’s platforms. She stresses the importance of not overreacting and advises clients to stay informed and prepared for potential changes.

Notable Quotes:

• [01:37] Megan Jones: “We counsel clients to not overreact, to follow it closely, to think about what implications can be.”
• [03:03] Megan Jones: “Google makes workflow really easy for our teams and for our clients. There is an aspect of that that has been incredibly valuable to how we work efficiently.”

Insights:

• Megan discusses the dual nature of Google’s offerings, highlighting both the benefits of integrated workflows and the potential disruptions a breakup could cause.
• She anticipates that while immediate changes might be minimal, the long-term impact could drive significant innovation within the industry.

2. The Cookie Conundrum: Evolution and Adaptation

Discussion Highlights:

• Ongoing Challenges: Both Mike and Megan acknowledge that the issue of third-party cookies remains unresolved, echoing industry frustrations about prolonged uncertainty.
• Digitas’ Approach: Megan outlines Digitas’ strategy of continuous testing and learning to adapt to the shifting landscape of digital tracking and identity solutions.

Notable Quotes:

• [05:02] Megan Jones: “We’re very actively trying to find solutions for [the cookie issue].”
• [06:42] Megan Jones: “How do you continue to test, learn and move on if it doesn't work so that you are not caught off guard when the balance shifts more directly.”

Insights:

• The conversation touches on the diminishing urgency around cookies due to delayed regulatory actions, leading to some industry complacency.
• Megan emphasizes the importance of maintaining flexibility and not becoming overly dependent on any single technology or solution.

3. Retail Media: Growth and Consolidation

Discussion Highlights:

• Market Expansion: Retail media is experiencing explosive growth, particularly in the UK, where ad spend is leading globally. Megan discusses how brands are increasingly viewing their own digital properties as valuable advertising platforms.
• Consolidation Trends: Megan anticipates some level of consolidation in the retail media space, driven by the need for standardized data and measurement practices.

Notable Quotes:

• [18:47] Megan Jones: “Retail media is interesting to me because at this point in time it's not just retailers that are in the business.”
• [21:36] Megan Jones: “Agencies and clients are going to push for consolidation and then we'll probably end in some happy medium where there's consolidation in certain points.”

Insights:

• The shift towards retail media is not just limited to traditional retailers but extends to brands recognizing their websites as valuable advertising platforms.
• Megan highlights Digitas’ unique position in navigating both the sell-side and buy-side of retail media, providing comprehensive strategic insights to clients.

4. Connected TV (CTV) and the Quest for Universal IDs

Discussion Highlights:

• Fragmentation Challenges: Megan points out the fragmented nature of the CTV ecosystem, with numerous platforms each handling audience targeting and measurement differently.
• Walled Gardens: The persistence of walled gardens like Amazon and Disney complicates efforts to create unified identification systems across CTV platforms.

Notable Quotes:

• [09:39] Megan Jones: “I would say some of the legacy streaming partners... understand how to offer audience first targeting capabilities and measurement.”
• [11:39] Megan Jones: “Walled gardens to me have become just, you know, regular day at the office kind of in the world of media.”

Insights:

• The lack of a universal ID system in CTV presents significant challenges for advertisers seeking consistency in audience targeting and measurement.
• Megan advocates for continued patience and persistence from agencies and clients to develop solutions that enhance transparency and effectiveness across diverse platforms.

5. TikTok and the Role of Creators in Media Planning

Discussion Highlights:

• Cultural Relevance: Megan underscores TikTok’s role as a hub for cultural discovery, making it an essential platform for brands to engage with consumers authentically.
• Creator Integration: Digitas has developed proprietary tools, like SWAT (Shareworthy and Trending), to identify and collaborate with creators who align with brand values and cultural trends.

Notable Quotes:

• [12:43] Megan Jones: “We keep a close eye on what's happening, but at the same time, our job is to understand it inside and out and counsel our clients how to be on it actively and effectively.”
• [14:01] Megan Jones: “We think about the role that those creators play and how to choose creators that make the most sense for the brands that we partner with.”

Insights:

• The integration of creators into broader media strategies requires a nuanced approach that balances authenticity with strategic objectives.
• Digitas’ approach emphasizes rapid content creation and deployment to capitalize on fleeting cultural moments, ensuring brands remain relevant and engaging.

6. Sustainability in Digital Advertising

Discussion Highlights:

• Future Focus: Megan believes sustainability will become a critical topic in the next five years, drawing parallels to how brand safety evolved within the industry.
• Current State: While not yet a top priority for most clients, Megan advocates for ongoing dialogue and the development of actionable solutions to reduce the digital advertising footprint.

Notable Quotes:

• [26:18] Megan Jones: “I care very much about it. I think it's a thing that we're going to be talking about in earnest in, let's say, five years.”
• [27:09] Megan Jones: “We're not there yet in terms of it being top of mind... but we continue to bring it up to clients and continue to talk about it.”

Insights:

• The conversation acknowledges the growing awareness of environmental impacts within digital advertising, highlighting the need for sustainable practices.
• Megan emphasizes the responsibility of the industry to innovate and implement strategies that mitigate environmental concerns, even if widespread adoption is still in progress.

7. Creativity vs. Data-Driven Approaches

Discussion Highlights:

• Balancing Act: Megan critiques the current trend of prioritizing data and performance metrics over creative inspiration, suggesting that the industry has lost some of its artistic edge.
• Creative Revival: She advocates for a renewed focus on creativity to inspire both consumers and brands, integrating artistic elements with data-driven strategies.

Notable Quotes:

• [24:19] Megan Jones: “I think, like, inspiring consumers and brands. Inspiring consumers. Not just creators. Inspiring consumers. I think that art has sort of disappeared from our industry.”
• [25:38] Megan Jones: “It’s actually thinking about what do you want to create, what's the magic you want to inspire with consumers.”

Insights:

• Megan highlights the importance of maintaining a creative balance to engage audiences meaningfully, ensuring that advertising remains not just effective but also impactful and memorable.
• This perspective encourages a holistic approach where creativity and data coexist to enhance overall campaign success.

Conclusion:

This episode of Next in Media offers a comprehensive exploration of the dynamic and often tumultuous landscape of modern media and advertising. Megan Jones provides valuable insights into navigating regulatory challenges, adapting to technological shifts, leveraging emerging platforms, and advocating for sustainable and creative practices. Her strategic outlook underscores the necessity for flexibility, continuous learning, and a balanced approach that harmonizes data with creativity to drive meaningful engagement and business outcomes.

Timestamp Overview:

• 00:00 - 01:05: Epsilon Digital Advertisement
• 01:07 - 28:06: Main Content with Megan Jones

Key Topics Covered:

1. Google Antitrust Trial
2. Cookie Tracking Challenges
3. Retail Media Expansion
4. Connected TV (CTV) Dynamics
5. TikTok and Creator Integration
6. Sustainability in Advertising
7. Creativity vs. Data-Driven Strategies

For those interested in the evolving intersections of media, technology, and advertising, this episode provides substantial insights and practical perspectives from a leading industry expert.