As a seasoned observer of the dynamic world of media and commerce, I find myself both intrigued and somewhat overwhelmed by the rapid evolution that is reshaping the industry landscape. With a career spanning decades, I’ve seen the rise and fall of numerous giants, each leaving an indelible mark on our cultural consciousness.
On Monday, EbMaster launched its first Content Meets Commerce Summit, sponsored by Kinesso, gathering influential figures to delve into the intriguing blend of entertainment and commerce. This half-day conference ignited engaging debates about how advanced product placements within digital content not only captivate viewers but also influence their buying choices.
I had the delightful opportunity to kick off the event with a thought-provoking dialogue about the swift changes in consumer behavior trends, alongside Busy Philipps, who graciously hosts and co-produces the QVC+ late-night talk show “Busy This Week” together with Stacie Tedesco, Vice President of Streaming at Qurate Retail Group. Subsequently, an insightful panel discussion titled “Is it Retail or is it Commerce?” ensued, focusing on the nuances between digital and physical spending economies, and the tactical approaches that lead to success in both realms.
Throughout the course of the day, discussions delved more profoundly into predicting the future trends in commerce. Crystal Wallace, Kinesso’s operations executive lead for data and technology, teamed up with Jeriad Zoghby, IPG’s chief commerce strategy officer, and Brian Steinberg, senior TV editor at EbMaster, for a segment titled “The Connected Commerce Revolution.” As the day drew to a close, they delved deeper into Netflix, scrutinizing its business model centered around the popular series “Emily in Paris.” This show has transformed itself into a platform for product placement, collaborating with search engines like Google to introduce innovative marketing techniques. These partnerships have streamlined the process for Gen Z viewers to find and buy brands featured in the show.
To learn more about every topic covered during the commerce summit, please find the detailed information provided below.
Keynote Conversation: The Evolution of QVC and Consumer Audience Behaviors
Busy Philipps, the host and a co-executive producer of “Busy This Week” on QVC+, along with Stacie Tedesco, the Vice President of streaming at Qurate Retail Group, had a conversation with the co-editor-in-chief of EbMaster to discuss QVC’s position in a rapidly changing and increasingly digital landscape.
Initially airing as an E-network program, “Busy Tonight” later transitioned into a podcast and then a preliminary Christmas special on QVC. The show’s current platform, however, proved to be an ideal fit for Phillips due to her innovative concept of making all visible elements within the show “purchasable.
Phillips explained, ‘People are curious about what I’m wearing and where to get it, as well as the source of my unique pillow. This concept was something that Casey St. Orange and I had considered for a new income source at E Network, but we lacked the necessary resources. The partnership with QVC seemed incredibly fitting for both parties.’
Panel: Is it Retail, or is it Commerce?
Ashan Khan (Uber Advertising’s head of agency partnerships), Aaron Gallagher (Kinective Media’s managing director and head of sales at United Airlines), Parbinder Dhariwal (VP of CVS media exchange), and Suzanne Skop (senior director of agency and off-platform partnerships at Instacart) joined Amie Owen, Kinesso’s global chief growth officer, for a panel titled “Is it Retail or is it Commerce?” to explore the contrasts between digital and brick-and-mortar consumer markets.
Despite the surge of online businesses such as Uber and Amazon in the e-commerce sector, traditional brick-and-mortar stores continue to play a crucial role in consumer markets. As Dhariwal points out, two key factors that keep these physical retailers competitive are their convenience and personal interaction with customers.
According to Dhariwal, if you step out from Penn Station or this specific region, you’ll likely encounter three distinct CVS pharmacies within a span of just three to four blocks. It’s not just the urban stores or the 9,000 stores we have scattered across cities and beyond that set us apart in terms of commerce media versus retail media. There’s a keen awareness of whether a customer purchases something at a city CVS, a suburban CVS, or any of our stores located anywhere in our network.
For Khan working at Uber Advertising, the vast digital market offers a rich source of data that enables him to precisely position ads. Since Uber offers both ride-sharing and food delivery services, Khan receives real-time information about “destinations and purchases,” which is incredibly beneficial for his clients.
Khan stated that we’re the unique company with a worldwide system that combines delivery through Uber Eats and mobility services within our rider application. This allows us to assist advertisers in understanding this combination and reaching a high-value market, whether it’s through the rider app or when ordering from Uber Eats.
The Connected Commerce Revolution
Crystal Wallace, the lead for operations in data and technology at Kinesso, sat down with Jeriad Zoghby, IPG’s chief commerce strategy officer, and Brian Steinberg, senior TV editor at EbMaster, to discuss anticipated groundbreaking changes that will shape the future of the commerce industry.
As streaming services become increasingly interactive, is it likely that marketplaces will adapt in a similar way? According to Wallace, absolutely! He points to Netflix’s recent “Emily in Paris” shoppable ads as an illustration of this trend. Essentially, the act of binge-watching creates opportunities for more immersive shopping experiences. “I could spend an entire weekend watching and end up spending around $200-$300 on items I see during the show.
As a movie lover speaking, I wholeheartedly agree with Wallace’s emphasis on tailoring any creative presentation to resonate with the audience. It should always be timely, appropriate, and communicated effectively – just the right signals at the perfect moment!
As a fan, I’d say: “These commerce giants are redefining the media landscape, as Zoghby pointed out. Amazon, for instance, offers live TV, football, NBA, streaming TV, podcasts, music – you name it! They even own Twitch, the global leader in gaming streaming, and IoT. Imagine if NBCUniversal not only produced content and ads, but also had an online store where you could shop directly from their website, with their own warehouses stocked with products. They’d even make their own branded versions of these items and use their delivery drivers to bring them right to your doorstep. And here’s the kicker – when they deliver, they’d be using a smart doorbell that keeps an eye on the package drop-off, allowing you to rush inside and keep gaming on Twitch!
Wallace mentioned that if needed, you can effortlessly return it, and you’ll promptly receive your credits again,” he added.
Sometimes we unconsciously associate Amazon with our phone charger purchases due to its long-standing brand reputation. However, Amazon is transforming into a burgeoning media platform. As Walmart and Best Buy explore partnerships, the retail landscape will change, leading us towards an evolution. You’ll find yourself wondering, ‘If I don’t offer what they do, who can I collaborate with to level the playing field?’ We’re just beginning this transformation, but it’s a shift from traditional shopping to creating a new type of media ecosystem where commerce takes center stage.
Wallace expressed his anticipation for an increase in co-opetition, a blend of competition and cooperation among entities. He suggested that it might take another two to three years before this consolidation fully materializes. In the meantime, there are numerous long-tail players on both the buyer’s and seller’s side.
Netflix Deep-Dive: Shoppable Integrations and Balancing a ‘Fan First’ Mentality
Magno Herran, Netflix’s Vice President of Global Brand & Marketing Partnerships, held a conversation with Todd Spangler from EbMaster’s business division. They talked about ways Netflix aims to expand its brand beyond the scope of their streaming services offerings. Specifically, Herran explained various aspects of recent collaborations, like the one with Google for “Emily in Paris,” which encompassed inventive advertising methods, shoppable experiences, and fan-focused activities – all designed to appeal to younger generations, particularly Gen Z.
Google Shopping decided to collaborate with a fashion-focused TV series during the busy back-to-school shopping season. According to Herran, this partnership was extensive, featuring custom content such as one advertisement (a 15-second clip) and sponsorship of the show itself. While you were watching the ad, you could even use Google Lens to shop some of Emily’s trendiest outfits for inspiration directly from the screen.
To clarify, no brand integrations were included within the “Emily” series itself. The company prefers to identify as ‘fan-first’ at a brand level, supporting creators and ensuring storytelling is done effectively. If any brand integrations are considered, they must be genuine, well thought out, and enhance the viewer’s experience rather than being forced or intrusive.
The pair additionally explored the concept known as “set-jetting,” an occurrence observed by a past Netflix collaborator, Expedia, where there’s a spike in inquiries and reservations for a location following its appearance on a well-known program.
Herran stated that Expedia’s aim is to determine the best way to facilitate our actions. In other words, if there’s increased interest in a specific travel destination, they want to collaborate with us to create content and campaigns that help people realize their travel aspirations.
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2024-10-08 21:47