Transnational online advertising trading. An IAB Europe White Paper

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1 Transnationa onine advertising trading An IAB Europe White Paper

2 Introduction 20 years ago trans-nationa advertising was a minor part of tota advertising activity, but the strength of onine trading is changing a that. This timey report examines how goba brands are spearheading a gradua rise in trans-nationa digita advertising and the benefits this can bring. It ooks at how traditiona working structures continue to keep most media buying within nationa boundaries and ooks ahead to the market forces that are ikey to break down these boundaries. IAB Europe is peased to work with Vincent Letang and his team at Screen Digest to bring you this report. Aain Heureux President & CEO IAB Europe Vincent Letang Head of Advertising Research IHS Screen Digest Pubished March

3 Survey on Trans-nationa onine advertising trading in Europe Trans-nationa trading is the term used to describe inventory that is purchased in one country for campaigns to be executed in another country. The dea can be cross nationa, muti territory, featuring two or more territories (e.g. Germany and Switzerand or UK and US), pan regiona, so featuring a group of territories in a region such as Europe, or goba, featuring a seection of territories from mutipe continents. This paper from IAB Europe and Screen Digest sets out to expain how trans-nationa trading works, to give an overview of the advantages and benefits, and to indicate the trends that wi drive trans-nationa trading. It is based on the output of interviews conducted by Vincent Létang and Cyrine Amor on behaf of IAB Europe, March-Juy 2010, with representatives from key internationa advertisers, media owners and agencies. This process is of course ony practica for media owners, pubishers and advertisers that operate in mutipe territories, but the ecosystem of digita advertising is we suited to trans-nationa trading, and it is therefore ikey to become an increasingy important revenue stream for some market payers. Key findings 1 Centraized booking is a sma part of digita media buying today, even for mutinationa advertisers. The buk of digita media buying remains on a country-by-country basis, even when booked with internationa media owners. 2 Reasons incude the egacy decentraization of marketing decisions and marketing budgets across European markets, and the mutipicity of media buying agencies working for mutinationa advertisers. 3 The amount dedicated to internationa trading is extremey variabe depending on the nature of brands, their history and egacy marketing organisation. Luxury, trave, banking, BtoB brands do a ot of it. FMCG or automotive advertisers do very itte of it so far. 4 However there are signs and reasons to expect more internationa buying in the short and mid-term: centraization in marketing organisations and advertising contracts, rise of internationa media owners taking direct bookings, socia media and automated trading patforms. Media agencies are increasing their internationa teams to face growing demand. 2

4 What are we taking about? Centraized internationa media buying incudes: Cross-nationa media buying. For instance: a French onine pubisher or a speciaist internationa saes house seing dispay inventory on a French website to a German company, and biing a German address or a non-european address. Pan-European media buying: a brand centraizing part or a of its European internet media buying, either directy or through an agency, with a specific centraised budget and a dedicated team, on top of its country-bycountry media buying activity and nationa marketing budgets. For instance, a goba brand managing its onine advertising budget from London through the internationa team of a media-buying agency. Internationa media trading in the vaue chain Demand Buying Side Suppy Seing Side Mutinationa brands (eg: Coca Coa) Media agencies (eg: Mindshare, OMD, Zenith) Internationa depts Nationa media properties (eg ITV1, E Pais, Googe Spain) Internationa reps (eg: Pubicitas) Mutinationa media owners pure payers: Googe, Yahoo, Microsoft, Orange muti-media brands: CNN, BBC WW digita aggregators: ad networks Source IHS Screen Digest/IAB Europe 3

5 Internationa media buying trends Today centraised trading accounts for a sma part of tota digita media buying by mutinationa advertisers. This is mosty due to the prevaence of decentraised marketing decisions and organisations across Europe, and the mutipicity of media buying agencies working for mutinationa advertisers. The amount dedicated to centraised trading is extremey variabe depending on the nature of internationa brands, their history and egacy marketing organisations. Some industries are showing a ot more centraization in digita campaigns: uxury, trave, hotes, banking companies with brands such as HSBC or Roex often mentioned. L Oréa combines oca and internationa buying, especiay for uxury brands, athough panning remains oca and campaigns are rarey simutaneous. But things are changing sowy. European marketing organisations are being simpified or revamped. In some cases, Pan-European headquarters by product categories or regiona headquarters - covering for instance South Europe or Beneux - are now empowered with marketing and advertising budgets for muti-country campaigns. On the other hand, most FMCG brands are historicay decentraised in terms of operations and marketing. Marketing and advertising budgets are decided and managed ocay for a media, and internet even search is no exception. There might be goba framework deas with goba media owners ike Youtube on discount rates, according to annua voumes, but there is no centraised buying. Some internationa brands have no need of centraised internationa media buying poicy because adspend is not big enough to generate economies of scae or because there is too much variation in advertising reguations across markets (e.g. acoho). Some mutinationa companies have a marketing and media team in each country and European co-ordination when it comes to digita marketing. Their focus is not ony, or not primariy, to centraise media buying, but to provide co-ordination, guideines and best practice. Degree of media buying centraisation across industries For a company operating over mutipe territories, there are many eves of centraisation between fuy oca and fuy centraised digita media buying. The degree of centraisation is cosey correated to the nature of the brand and the activity sector. In the tabe beow, we spit advertisers into three categories: Degree of Description Exampes centraization LOW MEDIUM HIGH Budgets, panning and buying are decided and managed by oca marketers in each market where the company operates A part often sma - of tota European advertising goes into centraised operations, often through the internationa team of a media buying agency. These budgets focus on corporate or branding campaigns more often than products (making them more voatie) Does not aways entai media buying Execution is sti mosty ocaised (at east transated into oca anguages) A arge proportion of European advertising is centraised, with dedicated budgets for centraised buying (not ony strategic panning or co-ordination) FMCG and automotive companies, refecting decentraised marketing organisations Banking, trave, technoogy, media-entertainment. BtoB and corporate brands (pharmaceuticas, energy etc.). Any brand targeting business executives on the move Some FMCG companies starting to reduce the numbers of marketing directions in Europe and creating regiona (mutiterritory) directions, or Pan European divisions for some product ines Luxury. Tourist boards. Onine retai. Direct Response. Non-European brands with itte or no oca marketing operations in Europe Source IHS Screen Digest/IAB Europe 4

6 Pros and cons, drivers and obstaces From an advertiser s perspective there are pros and cons associated with centraised media buying that are reated to scae and transaction costs. For big campaigns conducted in severa countries at the same time, it might be cost-effective to buy media marketby-market because oca buyers can everage their purchasing power and expertise ocay. Besides an advertiser can have internationa framework agreements with internationa media owners ike Yahoo, Youtube or Facebook on voume and pricing, whie sti decentraizing advertising decisions and campaigns. These deas are becoming more common. On the other hand, when an advertiser runs rather sma campaigns in each market (perhaps big Europe-wide but thiny spread across mutipe territories), the economies of scae made through internationa buying become significant, as opposed to the addition of oca transaction and operationa costs for a reativey sma media vaue. Then the support of internationa buyers ike Mindshare or OMD and the roe of internationa ad saes houses ike Pubicitas or Word Web Networks can make a ot of sense. There is no certainty as to whether mutinationa advertisers are going to spend more trans-nationay in the future. Unti now, internationa media buying has been voatie, characterized by stop-and-go fuctuations. This is because internationa campaigns are frequenty corporate ones, aimed at buiding brand awareness or company profies, rather than seing products, and that type of communication is the very first to be cut in tough times ike 2009 when onine dispay advertising growth was fat across Europe. However it is more ikey to happen for digita media simpy because there are Pan-European and goba media owners to dea with. By contrast, to aunch arge co-ordinated internationa campaigns across traditiona media is a ogistica chaenge: an advertiser generay has to rey on the internationa team of an ad agency Mindshare, OMD and Zenith have such teams in hubs ike London and Paris and the agency wi often dea with an internationa saes house ike Pubicitas to do it in a cost-effective way. In traditiona media, few properties are offering mutiterritory reach. These are internationa TV brands (CNN, MTV, BBC Wordwide, Eurosport), internationa business news pubications (The Economist, Internationa Herad Tribune). Severa of these internationa properties are aready making the majority of their saes centray (incuding with non-european cients) and their digita saes represent more than 15 per cent of tota ad revenues. Pros and cons of centraised buying PROS CONS Economies of scae Maximise bargaining power with internationa media owners Some brands and agencies have everage ocay Significant oca specificities Time-to-market Not a agencies are equipped Logistica & organisation costs Source IHS Screen Digest/IAB Europe 5

7 Looking forward There are signs and reasons to expect more centraised internationa buying in the mid-term. On the suppy side, three factors provide a better environment and more incentives to centraise internationa media buying: The rise of automated trading patforms for dispay (Ad Exchanges) may deiver further dispay cost optimization and incentives to centraise for arge advertisers and arge campaigns. More generay, dispay media buying is becoming more data-driven and the growing use of behavioura targeting justifies arger scae campaigns. However, perhaps counter-intuitivey, the most automated form of media buying paid search is not very centraised either. This is due to the fact that search behaviour varies a ot from country to country and there are ess obvious opportunities for internationa dea with media owners. The rise of internationa media properties is providing reach and the abiity to target in every European market. Athough internationa pubishers ike Yahoo, Microsoft and Youtube do have oca saes teams, there are more opportunities for centraised bookings too. Besides the coming of age of socia media advertising now increasingy used by mainstream brands aows them to target demographics, nationa or inguistic communities across borders efficienty. More internationa advertising agencies are setting up internationa departments to offer centraised European services to mutinationa cients, typicay in London. However there is sti a chicken-and-egg situation between agencies offering such services to their cients and agency customers deciding to centraise budgets and campaigns. Some advertisers tod Screen Digest that their agencies and their onine pubisher partners - were not fuy equipped to dea with centraised panning/buying anyway. Among the advertisers that have an account with one of the internationa departments in agencies, the internationa support is often imited to strategic panning and co-ordination. At present, ony a few have a definite budget for centraised buying, athough agencies are sensing a growing trend in that direction. as France aows European operators to advertise across mutipe territories), direct response (insurance, price comparison engines). FMCG brands are not moving so fast but many of them are engaged in re-centraising some marketing decision and budgets sometimes at regiona eve rather than countryby-country. Besides there is a genera trend towards consoidating accounts and budgets among fewer advertising agencies among mutinationa companies. Finay, a number of iconic mutinationa advertisers (P&G, Uniever, L Oréa, ABI) have recenty and pubicy pedged a significant shift to digita advertising. These convergent trends and expectations from suppy side and demand side wi create the right conditions and opportunities to dedicate more budgets to centraised, Pan- European or Pan-regiona mediabuying, but it wi be gradua and imited. For more information contact: Catherine Borre, Research Manager IAB Europe Vincent Létang, Senior Anayst HIS Screen Digest On the demand side, some categories are aready increasing media buying on a trans-nationa or Pan European eve: onine betting (recent iberaisation in various markets such 6

8 About IAB Europe About IHS Screen Digest IAB Europe exists to promote the growth of Europe's interactive advertising markets through events, partnerships and communications activity, to protect the interests of the industry through an active programme of pubic affairs and to prove the vaue of the market through research and education. The power of IAB Europe comes from its extensive membership at both country and corporate eves. Our nationa membership of 26 countries spans the entire continent - not ony the mature markets of Western Europe, but aso rapidy evoving markets incuding Croatia, Czech Repubic, Romania, Russia, Sovakia and Ukraine. Our corporate membership incudes advertisers, major media groups, pubishers and portas, agencies, research companies and technoogy and service providers. Screen Digest is the pre-eminent firm of industry anaysts covering goba media markets incuding fim, teevision, broadband media, mobie media, cinema, home entertainment, gaming, and advertising. Screen Digest was recenty acquired by isuppi Corporation and together isuppi and Screen Digest offer the most compete and insightfu anaysis of the goba technoogy, media and teecommunications (TMT) sector. Vincent Létang, 41, is a senior anayst and head of advertising research with IHS Screen Digest. Vincent has been a eading advertising expert for ten years. He is a reguar voice at internationa events, bringing an informed and insightfu mind to strategic advertising questions. Danie Knapp, Senior Anayst and Cyrine Amor, Anayst worked with Vincent on this report. The Egg Communication Nest Bara Street Brusses Begium Phone +32 (0)

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