FOOA: The Future of Online Advertising Is...

I'm back in Dallas from New York, with a full report on the Future of Online Advertising conference in New York. Overall, the event was great, with some good speakers, and great folks attending. Rather than giving a play-by-play of the conference, I thought that I would provide some of the overall themes and challenges facing the future of online advertising that were brought up at the conference:

1.) The Future is Direct
Online advertising already has the reputation of being a "direct marketing" medium. Unlike offline ads, they can be held accountable for performance due to tracking. This perception isn't softening. Rather, advances in technology are forcing online ads to be even more accountable as advertisers look to use this trackability to personalize the online ad experience and reduce wasted spending. Sure, this is also having an impact on offline advertising, with advertisers demanding more accountability in offline media, but advertisers are still devoting far more dollars to offline. This perception of online advertising as a "direct" medium has always left a bad taste in my mouth. Simply put, ROI isn't the only measurement we should be looking at. Online can be a powerful media for awareness and branding as well.

2.) Media Planners... Get Ready
Simply put, the online advertising marketplace isn't just becoming more accountable, it's becoming fractured. Online media planners now have to deal with an almost unfathomable number of online outlets for advertisers, with new online channels being added every minute of every day. While this is certainly a challenge, it's also an opportunity. Media planners that can stay on top of these emerging channels, and create truly versatile campaigns will become invaluable resources.

3.) Online Video's Infancy
Wow... where to even begin. Online video has exploded over the last year, and presents its own unique set of challenges. One of the major topics of conversation at the conference was what type of ad formats fit this new medium the best. Many people talked about the ineffectiveness of pre-roll and re-purposing 30-second spots, but what's the right way? Simply put... no one knows. There were calls for standardization, but how can standards be established when what's effective is still being determined. What's clear is that experimentation is happening, and happening quickly. Lightning fast, in fact, and picking up speed.

4.) The Future of Measurement
"Effectiveness" is becoming a cryptic phrase in online advertising, and many speakers addressed the need for new ways of measuring campaign performance. Measurements such as click-through rates and standard branding metrics are no longer sufficient. As websites become more about "experiences" and media becomes more viral, how are we to measure things like "engagement" or "influence?"

5.) A Little Guts Go a Long Way
Finally, I think one of the biggest lessons from the conference is that advertisers need to have more guts. Wired magazine VP Drew Schutte talked about this very topic. Why is it important for advertisers to have guts? Because consumers do. Without guts, agencies and advertisers will always be months, maybe even years behind consumers.

You can find more information in the live coverage section of the Future of Online Advertising conference website. In addition, it appears that they were shooting videos, which I assume will be made available, and we got word that presentations will be made available in the near future.

I wanted to say thanks to Ryan Carson from Carson Systems, who put on the conference. They provided myself and several of you free passes to the event.

Comments

[Ryan Carson]

Thanks so much for coming :)