Call it cross-channel or cross-platform addressability. To Bank of America’s Lou Paskalis, it comes down to “orchestration.” But he wonders whether marketers are up to the challenge of adding value to spontaneous consumer experiences in what could amount to a long-tail investment commitment.
“Let’s call it what it really is. Orchestration. I think it’s the Holy Grail for where we are in marketing are today,” Paskalis says of addressable advertising in an interview with Beet.TV.
As the financial giant’s head of Global Communications, Planning, Media Investment & Measurement, Paskalis recently oversaw the company’s first addressable advertising test for its Merrill Edge self-service trading platform product. The results will be revealed at Beet Retreat 2016 in Miami Beach.
“I can tell you we learned a lot,” Paskalis says of the test.
Paskalis has been an active participant in the ongoing shift from a probabilistic to deterministic marketing world. It’s not simply for the sake of efficiency, but because brands are competing for consumer attention in ways they never had to.
“We have to compete now because consumer expectations are higher than ever before about relevancy, and consumers are publishing greater and greater amounts of their own content which are highly relevant to their friends and family,” Paskalis says.
“So marketers need to play money ball. In order to do that, we need to be able to orchestrate experience across channels and platforms,” he adds.
Citing things like live Twitter streams of NFL games and presidential debates, Paskalis recognizes both the opportunities and costs involved in engaging with consumers in all of their varied moment-by-moment experiences.
“My challenge to my colleagues in the industry and to our agency teams is are we able to respond to those challenges? Are we able to respond to the variation we’re going to need in our thinking to make sure those experiences are elevatory for our brands, to compete for attention and having all these assets ready to go?” Paskalis says.
It will take a shift in mindset from the traditional media investment approach.
“It’s a longer tail model than a campaign, and we don’t really have a good infrastructure today to rationalize the return on investment for some of the assets we’re going to need to create that might not pay out for three, four, six, ten, twelve months,” Paskalis says.
This video explores the state of cross-screen addressable video advertising. The series is sponsored by AT&T AdWorks. Please visit this page to view more videos from the series.