Simpli.fi CEO Frost Prioleau sits down with BizReport in this exciting Q & A
Advertisers faced many challenges in 2020, from reduced traffic in stores to consumers’ budget constraints. Many of those challenges will disappear in 2021, but that doesn’t mean a return to pre-2020 strategy. Instead, brands need to update their strategies to include how consumers changed how they shop and interact.
By Kristina Knight
How big were the challenges faced by advertisers in 2020?
Frost Prioleau, CEO & Co-Founder, Simpli.fi:
The biggest challenge that advertisers faced in 2020 was being agile enough to keep up with changing market dynamics. These dynamics varied by week, industry, advertiser vertical, media type, and other factors.
In turn, advertisers found themselves needing to work with partners who could keep up with the changing needs.
How will those issues shape 2021 for many marketers?
I think with the accelerating pace of change, 2020 was a wakeup call for many advertisers who now have seen the benefit of being able to change targeting, messaging, and tactics quickly to meet the needs in different parts of the country. Now that advertisers know the benefits of being agile, they will want to continue with that capability.
How does programmatic fit into these challenges – and their solution?
Unlike many advertising and marketing expenses, programmatic is very agile. Campaigns can be started, stopped, and/or changed with a few strokes on a keyboard.
This enables advertisers to alter budgets, messaging, targeting, and other attributes of their campaigns quickly and easily compared to other advertising formats.
What does programmatic offer than other ad buys do not?
Programmatic offers the ability to aggregate high quality inventory from thousands of inventory providers while using a consistent targeting methodology over that inventory, and measuring delivery and other KPIs with the same method across the various inventory sources.
In addition, programmatic advertising offers transparency down to the data element-level giving marketers unprecedented insights into every campaign impression at every spend level.
Lastly, programmatic allows advertisers the agility to adjust spend, messaging, and creative on a moment’s notice.
What are your top 3 tips for marketers to thrive in 2021?
My top three tips for marketers to thrive in 2021 consist of the ability to be agile with your campaigns, take advantage of the precise targeting and measurability of CTV advertising, and work with your partners who can help improve your performance.