Online video advertising is still in its infancy and earlier this month thought-leaders came together at the Beet.TV executive retreat to discuss where this nascent industry is headed. In her keynote speech, Ashley Swartz, CEO of Furious Minds, spoke about the emergence of this new advertising format and offered up some key takeaways—”The 10 C’s”—on what the industry should be focusing on.
Before getting to her 10 C’s, Swartz spoke about convergence, explaining that we’re beginning to see a huge shift and that “audience behavior and paradigms of consumption are changing faster than we can keep up.” This shift, she says, indicates a lot more than “a new format or a new medium of advertising,” says Swartz. “I really think that it’s a new industry and a new business, and with that comes a new model of doing business.”
Swartz explains, “This is a moment in time for us to look at redefining how and what we do,” and with that in mind she put together a punch list of ten items that are important in today’s online video advertising landscape—Consumer, Collaboration, Co-Creation, Channel, Compensation, Capital, Currency, Consolidation, Cost and Change.
In going through the list, Swartz covers a variety of aspects of the industry, from the importance of consumers to how this industry is being funded, methods for getting marketers on board, cutting costs and more.