Fiksu, a renowned cross-environment programmatic platform, recently announced the launch of BidMind, a self-serve platform for marketing on connected TV (CTV).
We asked Fiksu’s chief technical officer Oleg Fogel to talk about its recent release, the platform strengths and opportunities it offers. We also took a peep behind the scenes at the work of the platform, its advantages over competitors, and asked about the industry challenges.
The future is connected TV
CTV platforms are where the viewers go. Brands follow their customers and thus media buying has boomed on the CTV marketplace. It’s evident that connected TV will take the baton from its linear predecessor and become the future host of video advertising. We at Fiksu are determined to meet this change proactively and give our clients innovative marketing opportunities.
During the lockdown, 90% of viewers said that they had a connected TV device. As CTV’s popularity grows, so does ad spend. 97% of brands intend to spend their ad budgets on connected TV this year. Many brands have already reassessed their ad placements. According to our research, CTV ad spend growth ranges from a 150% to 500% increase depending on the industry.
Since the dawn of the mobile marketing industry, Fiksu’s data scientists have developed the well-known algorithm for targeting mobile audiences. As mobile martech pioneers, Fiksu managed to gather one of the market’s biggest datasets of mobile users and, combining them with its machine learning algorithms, the company has earned the trust of the biggest brands for its transparency and effectiveness.
For the last year and a half we have worked on building a new team of industry leaders, including data scientists, adtech savvy developers and sales gurus. We saw the potential of the CTV ecosystem as Fiksu’s founders predicted the potential of the mobile market more than a decade ago, and we set our strategy for years ahead. Today, we are happy to announce our new platform, BidMind – carefully developed to help brands connect with their customers on CTV.
We integrated our knowledge on how users behave on mobile devices with in-depth research on CTV ads as well as ad recall trends, and built a targeting algorithm to support brands in achieving high GRPs, coverage and other required metrics. However, CTV is just one of the elements that BidMind offers, as brands still have the opportunity to reach out to the same audiences in different environments, namely web and mobile.
Choosing a reliable partner
For brands, the question is no longer about the right choice of technology, correct machine-learning algorithm, third-party data, LAM audience, or real time anti-fraud systems. Brands have a massive list of potential partners competing for their ad budgets. Our strength is combining the aforementioned components to ensure that brands see progress and achieve their objectives. We scrupulously prepare every campaign by processing a vast amount of data. Our experts prepare an extensive analysis for each client that helps select the right machine-learning model and audience similarity. Even those who prefer a self-serve interface have the ability to apply very detailed targeting by combining segment and location data. They can reach high quality and fraud-free audiences and achieve their KPIs including VCR, CPCV, or a specific audience reach.
Industry challenges and trends
Growing concerns about fraud on CTV
It is indeed a growing problem and the solution requires the involvement of all industry players from publishers to advertisers. Our platform constantly monitors hundreds of signals for every bid, taking into account each available header, supply source ranking, and crucially important information from Sellers.json and SCO. The marriage of our in-house anti-fraud system with tools from external partners allows us to create a safe environment for advertisers to step up their marketing game without the fear of spending ad budgets in vain.
Third-party cookies elimination
I believe that the elimination of third-party cookies will become the most significant challenge of all. But as they say, when one door closes, another opens. Even though mobile ads will be largely affected by the removal of the third-party cookie, at the same time, it will offer new opportunities for CTV publishers. CTV ads don’t rely on cookies, so contextual buying will only increase, allowing brands to engage highly relevant audiences in a brand-safe and regulations compliant environment.
The growing popularity of in-house advertising
There’s a number of reasons for marketers to turn to in-house advertising. The main ones being increased transparency, cost efficiency, data ownership, and general efficiency. And these are precisely the benefits advertisers enjoy with self-serve on BidMind. Marketers choose the data they want to use for the campaigns without having to spend on staff employment, training, and software development.