THE NATIVE ADVERTISING MANIFESTO
THE NATIVE
ADVERTISING
MANIFESTO GETTING THE MOST OUT OF YOUR CONTENT MARKETING USING PAID MEDIA A COMPANION PIECE TO THE CONTENT PROMOTION MANIFESTO
By Chad Pollitt 1
Foreword by Mark W. Schaefer
THE NATIVE ADVERTISING MANIFESTO
Dedicated to my future wife, Yicleni
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THE NATIVE ADVERTISING MANIFESTO
TABLE OF CONTENTS ABOUT THE PUBLISHER 4 FOREWORD 5 1
Introduction 7
2
Aligning Content with the Buyer's Journey 10
3
Paid Content Distribution 12
4
Content Shock 15
5
The Adoption Curve Matters 17
6
Diminishing Organic Visibility 19
7
Native Advertising 21
8
Display Advertising, Ad Blocking and Publishers 23
9
Why Are Some Marketers Complaining about Display Advertising? 25
10 How Will the Digital Advertising Landscape Change in the Near Term for Publishers? 27 11
Social Native and Sponsored Content 29
12
The Native Advertising Combatants 33
13
The Decline of Organic Social Visibility - 3 Trends to Expect 37
14
5 Strategic Tips for Native Channels
15
Conclusion
40
42
ABOUT THE AUTHOR 43 SOURCES 44
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THE NATIVE ADVERTISING MANIFESTO
ABOUT THE PUBLISHER Thank you for downloading this guide on native advertising. This latest ebook by Chad Pollitt should be used strategically to navigate the native advertising landscape. Relevance is a digital marketing agency that delivers integrated digital agency of record, content strategy, SEO, PPC, paid media, digital PR, and robust analytics solutions that make our clients' creative and data-driven marketing efforts smarter, more agile and more effective. Relevance is also an award-winning digital magazine with the sole focus of delivering high-quality news and insights on the topics of content strategy, production, promotion, measurement and marketing. We believe in results and love how much freedom and creativity are afforded marketers who can master their story, tell it well, and delight their audiences in ways that demonstrate greater respect and sensitivity to consumers than ever before. We’re here because we believe in empowering, guiding, encouraging, and inspiring the marketers who want to do things well. Thank you!
ACKNOWLEDGMENTS: Author: Chad Pollitt
Editor: Aisha Herring
Foreword: Mark W. Schaefer
Designer: Ruth Moorman
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THE NATIVE ADVERTISING MANIFESTO
FOREWORD BY MARK W. SCHAEFER THE PAID IMPERATIVE Content Shock is here. Now what? Overwhelming information density (or Content Shock) is by far the most profound issue marketers face today. The amount of content on the web is literally exploding … and it’s becoming much worse. How do we rise above this intimidating wall of noise to become the signal for our customers? For the past few years I have been obsessed with finding this answer. I’m a marketing strategist and I needed to be able to provide the best advice to my customers. It’s a difficult problem and it took me a couple of years to wrestle it to the ground. The result of my research was a book called The Content Code. In my search for an answer, one name that kept coming up over and over: Chad Pollitt. In Chad I found a content marketing soul mate, a consummate professional just as obsessed with finding actionable answers to the wall of noise before us. What I love about Chad (among other things) is his attention to detail, his forward thinking, and his ability to help his customers pivot and change to meet the demands of a rapidly-changing marketing field. This book is the next step in the Content Shock solution. It’s unlikely that a corporate content marketing strategy can exist without a paid component these days. In the patient style of a teacher, Chad moves us through the history of the problem and the logical solutions. This is an essential component to the Content Shock solution.
MARK W. SCHAEFER www.businessesGROW.com
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THE NATIVE ADVERTISING MANIFESTO
ABOUT MARK W. SCHAEFER Mark W. Schaefer is a globally-recognized author, speaker, educator, and business consultant who blogs at {grow} — one of the top five marketing blogs of the world. He teaches graduate marketing classes at Rutgers University and has written five bestselling books including The Tao of Twitter (the best-selling book on Twitter in the world) and The Content Code, named by INC magazine as one of the Top five marketing books of the year. His clients include Pfizer, Dell, Adidas, and the US Air Force. He has been a keynote speaker at prestigious events all over the world including SXSW, Marketing Summit Tokyo, and the Institute for International and European Affairs. He has appeared as a guest on media channels such as CNN, The Wall Street Journal, The New York Times and CBS News. Twitter: @markwschaefer
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THE NATIVE ADVERTISING MANIFESTO
1 INTRODUCTION The introduction of the Internet to US households in the early 90’s has forever changed the media landscape and how consumers discover and engage with content. From the very first banner ad to the present day machine learning and programmatic media buys, paid media has seen many innovative iterations over these few decades. This new media age has permanently removed the gatekeeper status of buyerinformation from businesses and placed it squarely in the hands of households. It used to be that if a consumer wanted to learn more about a brand, product or service they would have to contact the company and talk to a sales person. That person was the gatekeeper of the information he or she would allow the consumer to see in order to make a purchase decision.
GOOGLE’S ZERO MOMENT OF TRUTH (ZMOT) In 2011 we learned from Google’s breakthrough research featured in Winning the Zero Moment of Truth1 that the majority of consumers spend time researching products and services on the web before they make a purchasing decision. In fact, according to SiriusDecisions, 70% of the buyer’s journey is complete before a buyer reaches out to a sales person. Google’s research was done prior to 2011 when smart phone adoption was relatively mild compared to where it is today. It’s reasonable to assume that ZMOT is even more pronounced in the consumer’s psyche in 2016. 7
INTRODUCTION
THE NATIVE ADVERTISING MANIFESTO
That’s today’s reality, and, for the most part, brands around the world have accepted this as the new normal and are at some stage of addressing it in their marketing departments. Unfortunately, it’s taken them over two decades of the Internet’s existence to figure it out. As a result, brands have traditionally viewed and prioritized online content production and its paid distribution in the following manner:
Historical Content Production
Today’s Paid Distribution Network
A
AWARENESS
A
I
INTEREST
I
D
DESIRE
D
A
ACTION
A
This model has a tinge of the pre-ZMOT world, where buyers were still beholden to brands for the information they sought. The difference here is, while consumers were clamoring for top-funnel content, brands prioritized the production and distribution of content towards the bottom of the buyer’s journey. That’s the complete opposite of how the buyer’s journey typically looks, though. Historical Content Production
A
AWARENESS
I
INTEREST
D
DESIRE
A
ACTION
8
Articles, Ebooks, Guides, Whitepapers, Studies, Infographics, etc. Case Studies, Demos, Virtual Forums, Brochures, etc. Coupons, Deals, Products, Catalogs, etc.
INTRODUCTION
THE NATIVE ADVERTISING MANIFESTO
This was done when there was still a true content deficit at the top of the funnel for most industries. In other words, there were more people demanding problem-solving content than there was content to solve those problems on the Internet. Most were only offered mid to bottom-funnel content by brands. Fortunately, brands weren’t the only entities that could publish content on the Internet. Households, professionals and B2B consumers began expressing their experiences and expertise at the top of the funnel based on their experiences with brands, products and services. Proctor and Gamble’s former CEO, A.G. Lafley, called very big competitive advantage. Because this the “Second Moment of Truth” in the you’ll foreword of Markbefore Roberts’ book, Lovemarks. making decisions they enter the store.
There were more people demanding problem-solving content than there was content to solve those problems on the Internet. Chapter 2: The New Mental Model reach those millions of shoppers who are
Figure 2-2: The New Mental Model
Figure 2-2: The new mental model
Stimulus
First Moment of Truth (Shelf)
Second Moment of Truth (Experience)
Which becomes the next person’s ZMOT
And by the way, it’s not just stores and consumer packaged goods we’re talking about. ZMOT is at work across all industries, in B2B and B2C, and in areas like education and 9 politics. Voters still see traditional billboards and lawn signs with classicINTRODUCTION calls to action like “Vote for Anderson” or “Punch #107.” But just like that dad looking for a new
THE NATIVE ADVERTISING MANIFESTO
2 ALIGNING CONTENT WITH THE BUYER’S JOURNEY During this time much of the web’s brand-created content was in complete disequilibrium with the actual buyer’s journey. This disequilibrium helped give rise to present-day content marketing; forcing content produced by brands to align with the buyer’s journey. At the same time, some brands were starting to see the impact of consumer generated top-funnel content (second moment of truth). Consumers were telling the brands’ stories (good, bad or indifferent) and filling the ZMOT needs of other consumers due to the massive deficit of top-funnel content demanded in the buyer’s journey.
Present-day content marketing is forcing content produced by brands to align with the buyer's journey.
This put enormous pressure on some brands to do something about it – to steer the story that was being told anyway. It was around 2010 when, for certain industries, content marketing at the top of the funnel started to be popularized and fill the gap between what consumers actually wanted in their content and what content brands wanted them to consume.
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ALIGNING CONTENT WITH THE BUYER’S JOURNEY
THE NATIVE ADVERTISING MANIFESTO
Typical Buyer’s Journey
A I D A
Historical Content Production
AWARENESS
INTEREST DESIRE
A I D A
ACTION
Fast forward to today, according to the Content Marketing Institute’s 2016 B2B trends2 report, 88% of B2B companies surveyed said they do content marketing. Based on CMI’s own definition of content marketing, it’s safe to say that content production and distribution priorities should be aligned to the buyer’s journey. If the top of the funnel is ignored than building a “clearly defined audience,” let alone to “attract and retain” them, is nearly impossible to do.
Content marketing is defined as a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience—and, ultimately, to drive profitable customer action. -CMI
It’s likely that more and more brands are getting closer and closer to actually aligning content production to the buyer’s journey. The pressure to do so varies depending on the industry. Many aren’t all the way there yet, but they’re generally moving in that direction.
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ALIGNING CONTENT WITH THE BUYER’S JOURNEY
THE NATIVE ADVERTISING MANIFESTO
3 PAID CONTENT DISTRIBUTION With more time, energy and effort being invested on content production at the top of the funnel by brands, the buyer’s journey and content production have started to move into equilibrium. Unfortunately, the tactics and budgets used for paid content distribution are still in alignment with historical content production. This means that with the alignment of content production to the present-day buyers’ journey, paid distribution use is or soon will be in complete disequilibrium.
The buyer's journey and content production have started to move into equilibrium.
According to eMarketer, last year’s total digital ad spend was projected to be close to $60 billion with over 95.5% of that coming from B2C industries. Retail alone accounted for 22%. These industries primarily use paid media channels like display and PPC for mid to bottom-funnel content promotion for things like products. Prior to Google’s ZMOT, both content production and paid distribution were in equilibrium. However, with content production moving upfunnel disequilibrium is building between content production and its paid channels of distribution.
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PAID CONTENT DISTRIBUTION
THE NATIVE ADVERTISING MANIFESTO
Tomorrow’s Content Production
Today’s Paid Distribution Network
AWARENESS
A I
INTEREST
D
DESIRE
For many industries the content visibility gap has been filled by inbound marketing.
I D A
ACTION
A
A
There hasn’t been as much pressure on the paid content distribution infrastructure to align to the buyer’s journey like content production has felt. The reason is simple – organic channels have picked up where paid distribution has fallen short for up-funnel content. For many industries the content visibility gap has been filled by inbound marketing.
Today’s Paid Content Distribution Network
A
AWARENESS
I
INTEREST
D
DESIRE
Traditional Sponsorship, Advertorial
A
ACTION
Display, PPC
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Native Advertising (Sponsored Content, Recommendation Widgets, In-feed Social)
PAID CONTENT DISTRIBUTION
THE NATIVE ADVERTISING MANIFESTO
If you created good problem-solving content and filled the top-funnel deficit in their industry, you would be rewarded with visibility from the content-starved and underserved.
This fact is responsible for the rise of inbound marketing late last decade. Not too long ago marketers could “build it and they would come.” In other words, publish, broadcast and pray. Organic channels like email, search and social media could drive the lion’s share of engaging traffic. Many marketers didn’t have to engage paid channels for their up-funnel content because the aforementioned channels drove exceptional visibility. Companies like Moz and HubSpot thrived in this environment. Those brands figured out mid last decade that if you created good problem-solving content and filled the topfunnel content deficit in their industry, you would be rewarded with visibility from the content-starved and underserved – the top of the buyer’s journey, thus, feeding consumers’ ZMOT.
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PAID CONTENT DISTRIBUTION
THE NATIVE ADVERTISING MANIFESTO
4 CONTENT SHOCK We have entered or are about to enter an age of “Content Shock.” This phrase was popularized by Mark Schaefer and describes what he considers the economics of content marketing3. The overall concept is simple – the amount of content being produced and published is growing by leaps and bounds. In fact, he says that by 2020 they’ll be 500% more information on the Internet than there was in 2015.
2020
CONTENT SHOCK: The Changing Economics of Content
Conservative estimate of content production
TODAY Content consumption
Image via: {grow} blog 15
CONTENT SHOCK
THE NATIVE ADVERTISING MANIFESTO
This means that many industries are leaving or already have left content deficits at the top of the buyer’s journey and are now entering into an era of content surpluses. This makes adequate content visibility on organic channels using inbound marketing much more difficult to achieve. Not only are there a finite number of people to consume this content, but there’s a lot more competition for their attention. Unless Google and the other search engines radically change something, marketers mostly have only 10 positions on the first page to compete for organic visibility. With the amount of content expected to grow so substantially, relying on the “build it and they will come” model of yesterday will be problematic for marketers. For over a year now social media networks have publicly stated that their algorithms will limit the organic visibility of brand-produced content. For Facebook it’s down to less than 2% visibility and even less for certain industries. Facebook is not the only one, either. Twitter publicly proclaimed its intent to do this a year and a half ago. This is a proven monetization model that forces brands to pay for visibility. This reduced visibility is starting to play itself out in brands’ analytics, too. In October, Buffer publicly admitted that they lost nearly 50% of its social traffic4 over the last 12 months. According to BuzzSumo, social shares on content for Copyblogger, Social Media Examiner and Moz were all down by 50%5 in that same time period. That’s also with an increase in content production. Conventional wisdom says social shares should be increasing. It’s also very safe to say that digital marketing as an industry is in a state of content surplus.
Image via: Buzzsumo
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CONTENT SHOCK
THE NATIVE ADVERTISING MANIFESTO
5 THE ADOPTION CURVE MATTERS For some, this may sound like doom and gloom for inbound marketers out there. The good news is that many of the innovators and early-adopters that started publishing for the buyer’s journey early in their industry have built a substantive enough audience and acquired considerable domain authority. Marcus Sheridan describes these brands as being part of the “Digital Land Rush6.” He calls them “Digital Sooners” and they’re depicted as Innovators and Early Adopters below. The Content Marketing Adoption Curve
Early Adopters
Early Majority
Late Majority
Promotion & Distribution Logistics
Coordinating
Laggards
Innovators
Corporate Publishing House
Scaling & Optimization
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Testing & Scarcity
Analog
THE ADOPTION CURVE MATTERS
THE NATIVE ADVERTISING MANIFESTO
For those brands, broadcasting content via email and relying on the search engines to deliver profitable traffic will likely continue to drive acceptable revenue for some time to come, if not in perpetuity. Unfortunately, that’s not realistic for most brands and new businesses today.
For a complete breakdown of the Content Marketing Adoption Curve, download my last book, The Content Promotion Manifesto7, for free.
These brands were the Early Majority to Laggards in adoption and likely got on board late in their industry’s time of content deficit or during recent industry surpluses. Many of the brands that fall in the highlighted area of the adoption curve above have seen or will be seeing diminishing visibility through organic channels and inbound marketing. Because they weren’t a part of the digital land rush they likely won’t be able to drive the returns the others that came before them have by relying on inbound marketing alone.
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THE ADOPTION CURVE MATTERS
THE NATIVE ADVERTISING MANIFESTO
6 DIMINISHING ORGANIC VISIBILITY Many in the industry attribute this diminishing organic visibility to the ever-increasing volume of content being published online. CMI’s most recent study shows that in 2016 only 30% of B2B marketers reported that their content marketing efforts are effective. That’s down from 36% the year prior. Joe Pulizzi, founder of CMI, points to the Gartner Five-Step Hype Cycle8 as being the culprit. Perhaps he’s correct, but the sheer economics highlighted above and the fact Gartner’s Five-Step Hype Cycle Peak of Inflated Expectations
VISIBILITY
Plateau of Productivity
Slope of Enlightenment Trough of Disillusionment Technology Trigger
MATURITY Image via: CMI 19
DIMINISHING ORGANIC VISIBILITY
THE NATIVE ADVERTISING MANIFESTO
many marketers’ analytics are pointing to diminishing visibility is hard to ignore. It’s more likely they both played some sort of role in the lack of confidence in content marketing in 2016. We won’t know for sure for several more years to come.
Earned media is a powerful promotion tactic for marketer's top-funnel content, but it's not easily scalable.
Many content marketers are still disillusioned in thinking that owned media content promotion (broadcasting) that accidentally earns the occasional media mention or social share is the sole means of distribution for top-funnel content. Most of the marketers who think this way and fall in the highlighted area of the adoption curve above will continue to struggle with their content’s perceived effectiveness. The good news is that there are two other channels for top-funnel content promotion – purposeful earned media (media outreach and influencer marketing) and native advertising. Both of which aren’t super-common promotion tactics across brands today.
Earned media is a powerful promotion tactic for marketer’s top-funnel content, but it’s not easily scalable. On the other hand, many native advertising channels are easy to scale.
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DIMINISHING ORGANIC VISIBILITY
THE NATIVE ADVERTISING MANIFESTO
7 NATIVE ADVERTISING As a channel, native has been given many different definitions, depending on who you ask. However, for our purposes we’ll define it as a paid distribution channel primarily built for top of the funnel content. These would include recommendation widgets, sponsored content and in-feed social. What binds all of these distribution tactics together is the word “infeed.” They all deliver top-funnel content within the normal reading stream of organic content. It looks like it’s supposed to be there.
Native advertising delivers top-level content within the normal reading stream of organic content.
It was estimated that native advertising revenue would hit $10.7 billion in the US by 2015. That’s almost 18% of the total digital ad spend estimated for 2015. That means that most of the other 82% was spent on middle to bottom-funnel content distribution. This further reflects the disequilibrium between content mapped to the buyer’s journey and its paid channels of distribution. In equilibrium, the revenue would be flipped – 18% of spend going to PPC/display and 82% going to native.
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NATIVE ADVERTISING
THE NATIVE ADVERTISING MANIFESTO
Native Advertising Revenue (US) Desktop and Mobile Native-Style Display
Sponsorship
Social
$25
BI INTELLIGENCE
$11.9
$15
$10.7
$10
$9.2 $3.4
$7.5
$2.7
$5.6 $2.9
BILLIONS
$20
$2.0
$1.3
$0.8 $1.0
$1.0 $1.3
$1.9
$2.7
2013
2014E
2015E
2016E
$3.9
$5 $5.7
$0 2017E
2018E
Source: Bi Intelligent estimates, Interactive Advertising Bureau
However, the revenue model above is certainly trending in a way that demonstrates the pressure on paid distribution to align with the buyer’s journey. As organic visibility from inbound marketing continues to wane, look for continued growth in year over year gains.
As organic visibility from inbound marketing continues to wane, look for continued growth in year over year gains.
The downside to content shock is most certainly reduced organic visibility and audience attention. However, there is a silver lining to industry content surpluses. Those Innovators and Early Adopters hold sway with many of the audiences everyone else wants to get in front of. These websites are the prospective publishers for native advertising and the Early Majority to Laggards are the prospective buyers.
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NATIVE ADVERTISING
THE NATIVE ADVERTISING MANIFESTO
8 DISPLAY ADVERTISING, AD BLOCKING AND PUBLISHERS It’s no secret that many consumers are fed up with banner advertising. That’s one reason why ad blocking software adoption is gaining in popularity worldwide. It’s not just consumers, either. Many marketers complain about their effectiveness, too. Publishers are stuck in between both party’s complaints and many of them are reacting to this pressure in tow. It may sound cliché, but according to Solve Media, you’re more likely to . . .
. . . survive a plane crash than click on a banner ad
. . . get into MIT than click on a banner ad
. . . complete Navy SEAL training than click on a banner ad
I wouldn’t suggest sounding the death knell for display advertising just quite yet, however. While many of the signs and trends point to its waning, it will likely be around for a very long time. There’s a new arms race happening on the Internet – ad blockers versus ad networks and publishers. Both are armed with very smart people trying to undo each other’s work. As a result of this race, many ad blockers are doing more than just blocking ads. Some of them are accidentally blocking some of the content its users are there to see. 23
DISPLAY ADVERTISING, AD BLOCKING AND PUBLISHERS
THE NATIVE ADVERTISING MANIFESTO
This doesn’t bode well for their future adoption growth. According to Addition, adoption world-wide is estimated at 300,000,000 today. Networks and publishers are battling back and forcing ad blockers to maintain an aggressive posture. That’s why some of them are beginning to overreach into the content we want, and why there’s an adoption ceiling to be hit in the near future. Even with these predictions of doom and gloom from some marketers the investment in display advertising continues to grow. Ad blocking software isn’t slowing that down. One of the reasons why is simple – targeting, retargeting, machine learning and programmatic approaches to serving up ad units is creating a much more efficient system. This helps increase brands’ return on investment.
US DIGITAL AD SPENDING, BY FORMAT, 2014-2019 BILLIONS 2014
2015
2016
2017
2018
2019
Search
$23.44
$26.53
$29.24
$32.32
$36.41
$40.60
Display
$21.07
$26.15
$32.17
$37.20
$41.87
$46.69
—Banners and other*
$10.53
$11.57
$13.39
$14.74
$16.17
$17.68
—Video
$5.24
$7.46
$9.59
$11.43
$13.05
$14.77
—Rich media
$3.71
$5.44
$7.42
$9.71
$10.69
$12.19
—Sponsorships
$1.58
$1.68
$1.77
$1.86
$1.96
$2.06
Classifieds and directories
$2.82
$2.94
$3.07
$3.20
$3.33
$3.47
Lead generation
$1.88
$1.97
$2.06
$2.15
$2.25
$2.35
Email
$0.25
$0.27
$0.29
$0.31
$0.33
$0.35
Mobile messaging
$0.24
$0.26
$0.27
$0.26
$0.24
$0.23
$49.69
$58.12
$67.09
$75.44
$84.44
$93.70
Total
Note: includes advertising that appears on desktop and laptop computers as well as mobile phones, tablets and other Internet-connected devices on all formats mentioned; numbers may not add up to total due to rounding; *includes ads such as Facebook’s News Feed Ads and Twitter’s Promoted Tweets Source: eMarketer, Sep 2015
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DISPLAY ADVERTISING, AD BLOCKING AND PUBLISHERS
THE NATIVE ADVERTISING MANIFESTO
9 WHY ARE SOME MARKETERS COMPLAINING ABOUT DISPLAY ADVERTISING? Some marketers not only loath display advertising as a consumer, but swear up and down it doesn’t work as well as other channels. That’s true in some cases, but ultimately it boils down to what the banner is promoting and how well it’s targeted. These complaints from marketers have largely grown with the adoption and deployment of content marketing. Most content marketers produce and promote mainly top funnel content – articles, ebooks, guides, how-to’s, etc. However, historically, display advertising success has come from the promotion of mid to bottom funnel content – case studies, free trials, coupons, catalogs, products, etc. This is problematic, because getting someone to visit top funnel content still requires additional investment to move them to the middle, and ultimately, the bottom of the funnel. In the B2B world this process can take months and sometimes over a year or more. 25
Ultimately it boils down to what the banner is promoting and how well it's targeted.
WHY ARE SOME MARKETERS COMPLAINING ABOUT DISPLAY ADVERTISING?
THE NATIVE ADVERTISING MANIFESTO
So those marketers attempting to use display advertising to distribute top funnel content are correct. It doesn’t always work for them because they’re paying the same cost at the top of the funnel that other brands are paying at the bottom of the funnel. Generally, the B2C buyer’s journey is much quicker – days and even minutes in some cases. B2C brands with funnels that look like this don’t necessarily have much additional investment to drive revenue using display advertising like B2B brands. That’s precisely why the vast majority of investment in this form of advertising comes from B2C industries.
GETTING THE EXPECTATION RIGHT
Without this understanding of the funnel, buyer's journey, and the true role of display advertising in it, many marketers will continue to complain about it.
Without this understanding of the funnel, buyer’s journey, and the true role of display advertising in it, many marketers will continue to complain about it. As a B2B marketer myself with six to 12 month sales cycles, I wouldn’t use display advertising with an expectation of driving measurable ROI unless I had true bottom funnel content to promote (which I don’t). Many B2B service companies struggle to create true bottom funnel content that aligns well with their offerings. Instead, I would use it for brand awareness campaigns and share of voice investment. Neither of which are easily tracked to ROI. And even then, I would only invest if I had a budget surplus that needed to be spent.
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WHY ARE SOME MARKETERS COMPLAINING ABOUT DISPLAY ADVERTISING?
THE NATIVE ADVERTISING MANIFESTO
10 HOW WILL THE DIGITAL ADVERTISING LANDSCAPE CHANGE IN THE NEAR TERM FOR PUBLISHERS? 100%
Digital Publishing Benchmarks Report Snapshot: Monetization Decreasing in value
80%
Increasing in value
60%
40%
20%
Source: HubSpot
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Classifieds and Directory Listings
Selling Database/User Information
Events
Print Advertising
Sponsored Content or Native Advertising
Video or Audio Advertising
Display Advertising
Paid Subscriptions
0%
HOW WILL THE DIGITAL ADVERTISING LANDSCAPE CHANGE IN THE NEAR TERM FOR PUBLISHERS?
THE NATIVE ADVERTISING MANIFESTO
According to HubSpot’s 2015 Digital Publishing Benchmarks Report9, the majority of publishers expect the value of display advertising (from a revenue perspective) to increase in the next six months. There are two other important trends to note, too. Sponsored content and native advertising are widely predicted to increase in value in the next six months. This is not a surprise. With predictions of continued investment in display advertising, largely driven by B2C brands, publishers’ thoughts around future revenue mirror the reality of the marketplace and the pressure on the content distribution infrastructure to align to the buyer's journey.
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Sponsored content and native advertising are widely predicted to increase in value in the next six months.
HOW WILL THE DIGITAL ADVERTISING LANDSCAPE CHANGE IN THE NEAR TERM FOR PUBLISHERS?
THE NATIVE ADVERTISING MANIFESTO
11 SOCIAL NATIVE AND SPONSORED CONTENT As mentioned above, display advertising is primarily built to deliver ROI on mid to bottom funnel content distribution. This makes it a tough channel for top funnel content marketers to scale distribution because of the additional investment required to move that traffic from the top to the bottom of the funnel over time. This leaves a giant distribution gap for content marketers. Display advertising is too expensive for top funnel content, generally. What’s filling this gap? Sponsored content and native advertising does for B2B marketers what display advertising can do for B2C brands – drive ROI-producing traffic at scale. Cost per clicks or cost per thousand impressions are generally much less for native advertising. David Ogilvy, the “father of advertising,” once said, “It has been found that the less an advertisement looks like an advertisement and the more it looks like an editorial, the more readers stop, look and read.” This is precisely what native advertising and sponsored content does for top funnel content marketers. It’s ideal, too, because it’s exactly what these marketers want from their content – to be read. According to Relevance’s Media Buyer’s Guide to Sponsored Content10, this filling of the gap is reflected by adoption rates from brands and publishers alike.
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SOCIAL NATIVE AND SPONSORED CONTENT
THE NATIVE ADVERTISING MANIFESTO
% OF PUBLISHERS WHO’VE EMBRACED SPONSORED ARTICLES
80%
70%
ANOTHER 16% PLAN TO BY THE END OF 2014
60%
50% 2013
2014
2015
Juxtaposing predicted social display advertising versus social native advertising spend gives us a good view of the growth and evolution of both channels, comparatively, over time. Again, this just reflects the reality of the marketplace – display and native advertising is on the up and up, with native growing the fastest.
U.S. SOCIAL DISPLAY VS. NATIVE AD SPEND 2012-2017 FORECAST Social Display
Social Native
$12 $10
$5.0 $4.4
$8
$3.7 $3.1
$6 $4 $2
$2.4 $1.4 $2.9
$4.3
$4.9
$5.5
$6.1
$6.8
$0 2012
2013
2014
30
2015
2016
2017
SOCIAL NATIVE AND SPONSORED CONTENT
SPONSORED CONTENT
888.603.7337
editorial
THE NATIVE ADVERTISING MANIFESTO PUBLICATION PRICE DISCUSSION Most publications have come to embrace sponsored articles as a valuable revenue source within the past couple years. However, publications are generally much more averse to exposing their prices and the metrics to justifywhy them than bloggers are. Many publications have advertising teams that handle sponsored Anotherused reason publishers are increasingly developing sponsored content programs content deals in coordination with more traditional advertising methods. This is where sponsored article is simple – it’s relatively cheap to execute and can have great profit margins. Below are pricing gets a little bit hairy. Most publications have entirely different pricing models, ranging from tiered just a few examples ofa-la-carte what advertisement some big purchasing. name publishers charge foraccept sponsored sponsorship deals to Although some publications sponsored content. articles in one-off scenarios, most prefer (and expect) large payout commitments through long-term multimedia package deals. Below are a few examples of mainstream publications that illustrate the diversity of sponsored article offerings and prices:
$40,000 for a one-off sponsored article
$2,000 for a one-off sponsored article
$50,000 per month, minimum three months ($150K total), unlimited articles
$
$5,000 for a one-off sponsored article
$50,000 for a one-off sponsored article $50,000 activation cost, followed by $12,000 per article $20,000 for 3 months, 2 articles per week maximum
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We were not surprised to find that Domain Authority less than five figures. As a metric that becomes is a significant predictor variable of price. harder to influence as it increases, a PageRank Publications that charged five figures or more had above 7 is very difficult to come by. Good publishers an average Domain Authority of 83.2, while know this and can leverage it for financial benefit. publications that charged less than five figures had Here’s the actual price distribution content in premium an average Domain Authority of only 68.1. for sponsored At first, we were surprised to find thepublications number of outlined in our study. Pinterest followers inversely correlated with price. Number of Facebook fans was an expected However, a closer look at the data revealed some significant predictor variable as well. Major interesting statistics. 14 of the 30 most expensive publications rely heavily on social media publications did not even have an active Pinterest communities to share and engage with their account, compared to only 11 of the remaining 46. content—and Facebook is often regarded as the Pinterest is typically used by publications that are 40 PRICE DISTRIBUTION: ALL PUBLICATIONS best for fostering user response engagement. heavily focused on consumer products in a B2C environment. Many of the larger news outlets and More than 53% of the publications that charge five education-oriented publications have not yet found 30 figures or more have a PageRank of 7 or higher, a way to use Pinterest to engage their audiences compared to only 4% of publications that charge effectively.
Price
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Despite some consumers' complaints and the loathing of some marketers, display advertising is here to stay.
The sponsored content insights above were developed from the first ever pricing study done on this channel. We contacted over 1,000 publishers and collected over 550 data points to create a sponsored content pricing formula that is available for download. Is display advertising in trouble? The answer to that question is simple – Not in the short term. Despite some consumers’ complaints and the loathing of some marketers, display advertising is here to stay. However, the pressure for paid content distribution tactics to align with the buyer’s journey will impact display advertising in the not-so-distant future. Top-funnel content marketers are demanding more budgets for native advertising and sponsored content, and it has to come from somewhere.
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12 THE NATIVE ADVERTISING COMBATANTS The lines between the media, brands, agencies, new media, social media and search engines are blurring faster than most realize. The need, desire and promise of native advertising are major factors in this blurring and everyone is trying to get a piece of the action. While in Boston attending HubSpot’s inaugural Inbound Publishers Summit, I got to meet dozens and dozens of publishers who, by all accounts, are beginning to offer agency services to brands in order to harvest media audiences for leads. This is understandable because it’s getting harder and harder for brands to create their own organic audiences to mine for leads. Legacy media outlets have struggled since the late 90’s to grow profits. But, offering digital native advertising campaigns and cost per lead agency services seemed poised to fix this problem. The media, however, isn’t the only group trying to profit from native advertising. Many others are positioning themselves at the trough, too. Here are the combatants in the native advertising arms race.
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1. TRADITIONAL PUBLISHERS The publishers I talk with all tell me print media is on life support. As a result, many of them have built robust or specialty niche audiences (which tend to be highly sought after by prudent brands) online. With the amount of content on the Internet expected to grow by 500 percent by 2020, access to these audiences will be even more desirable by brands. Add to that the ratcheting down of organic social media visibility and the fact that search engines can’t possibly provide visibility for 5x more content than we see today, only one other scalable content distribution channel exists – native advertising with publishers. Earned media is an option, but it’s very difficult to scale.
Search engines can't possibly provide visibility for 5x more content than we see today...
2. NEW MEDIA Website only publications like the Huffington Post, Mashable, Buzzfeed, Upworthy and ViralNova that have appeared on the scene the last decade or so have proven business models that are insulated from the unprofitability of traditional media models. Many new media outlets were early adopters of native advertising and have the revenues to prove it. Venture capitalists are investing in droves. Look to new media to continue its innovation in native content distribution. As publishers, most new media “get it” that they don’t need third parties skimming their native profits. That’s why many of them have fullfledged agencies poised to sell, build, run and report on campaigns.
3. CONTENT DISTRIBUTION NETWORKS Tools like RevContent, Taboola, Adblade and Outbrain fall into this category. They aren’t the only ones, but tend to get the most press. There are dozens more. Some even have robust service layers – agency-like services. These networks are all growing, but they have one fatal flaw. They need publishers to deliver native advertising on. If publishers decide to do their own native campaigns the content distribution networks won’t be necessary. Publishers are beginning to provide agency services to do just that, too, possibly rendering third-parties irrelevant.
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PART I - DEFINING SPONSORED ARTICLES To understand what sponsored articles are and what they’re not, it’s imperative to first understand the native THE NATIVE ADVERTISING MANIFESTO advertising ecosystem as a whole. In their Native Advertising Playbook, the Interactive Advertising Bureau (IAB) defines native advertising as “paid ads that are so cohesive with the page content, assimilated into the design, and consistent with the platform behavior that the viewer simply feels that they belong.” According to the IAB, there are currently six types of native ad units that are commonly deployed by marketers: In-Feed, Paid Search, Recommendation Widgets, Promoted Listings, In-Ad with Native Element, and Custom.
IN-FEED UNITS
PAID SEARCH UNITS
PROMOTED LISTINGS
RECOMMENDATION WIDGETS
IN-AD (IAB STANDARD) WITH NATIVE ELEMENT UNITS
CUSTOM/ “CAN’T BE CONTAINED”
Sponsored articles are a form of In-Feed ad unit, the subgroup with the greatest gray area and variation in execution. In-Feed ad units, which include sponsored articles and sponsored social posts, are separate from the rest in that they appear within the typical content well of the publisher. In the case of sponsored social posts, the publisher is the social platform (e.g. Facebook, Twitter, LinkedIn); yet in the case of sponsored articles, the publisher is a media outlet (e.g. Forbes, BuzzFeed, Mashable). As far as the content itself goes, the Many of the major social networks are offering in-feed advertising now. long-form editorial nature of sponsored articles is what mostnative significantly distinguishes them from their short- Tumblr form sponsored social counterparts. just created an agency to help facilitate connections between brands and popular
4. SOCIAL MEDIA
bloggers for sponsored Facebook also announced that it will that belooks syndicating Simply put, sponsored content. articles are advertising on a media outlet in the form of editorial content like it’s supposed to bemedia there. Whether a blog This post, article, opinion, listicle, or news release, are readingeven it articles directly from outlets. is undoubtedly a plan to you pilferage more because a brand has intentionally put it there for you to do so. Why? Because association with a publication revenue from the media. Again, the fatal flaw here is that they need the media to make and exposure to its audience ultimately increase brand awareness, web traffic, conversions, and the likelihood this happen. The media need them. of profitable consumerdoesn’t buying behavior. LinkedIn, on the other hand, has its extremely popular Pulse network full of original content. Look to LinkedIn to start offering even more native advertising within its relevance.com 7 network. Pulse is its own media outlet, unlike Facebook, and doesn’t need©the Relevance 2015 media, per se.
5. SEARCH ENGINES Yahoo, AOL and Google are positioning themselves to massively profit off of native advertising. Yahoo owns Gemini (a content recommendation engine) and more than a dozen media outlets. AOL owns Gravity (another content recommendation engine) and some of the most popular online media outlets on the Internet today. Both stand to profit off of native advertising on their own outlets, but by owning Gravity and Gemini will try to purloin native revenue from other publishers. Google, on the other hand, has its native network in private beta, poised to launch at any time. Its network will offer content recommendations like Taboola, Gemini and Gravity,
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but may also compete directly with startups like NewsLauncher and Pressboard Media. These companies connect blogs and publishers selling sponsored articles directly with brands. However, without publishers Yahoo and AOL are stuck distributing content on their own publications and Google can’t do native at all.
6. AGENCIES Marketing, advertising and PR related service agencies have existed for more than 100 years and will continue through the native era. Like content recommendation engines, agencies will act as third parties, connecting publishers with the brands they represent. This will likely prove to be profoundly profitable and valuable in the near-term for all parties involved. However, as the media’s internal agencies start to ramp up and get good at selling their services, expect traditional external agencies to do less and less native advertising. The media doesn’t really need external agencies to deliver native advertising.
7. BRANDS With organic search and social becoming less effective over time and pricing for paid search and social rising, brands will begin to look elsewhere for content distribution (some already have). While many are investing in building their own organic audiences today (brands like Intel, HubSpot, Ben & Jerry’s, Netflix, GE, AARP, Ford, American Express and many, many others), they’re also looking to grow their audiences through native advertising. Brands that are successful at building their own media outlets may begin to compete with traditional and new media by offering native advertising, too. Adobe’s CMO.com could do it today if it wanted to. Until that happens, however, look to brands to fund this new native arms race, and in the process deciding who the lasting winners will be. No matter the combatants, the story above is about a war over who will become the main gatekeepers of audiences in the future. With 5x more content expected online in just a few years, these gatekeepers stand to rake in billions of dollars. Right now it’s still search engines and social media. However, online publications ultimately command more combined audience share than search and social. This means that online media has an incredible opportunity to be more profitable than what it has been in decades. And in the process, dimmer the native aspirations of the search engines, third-party connectors, social media and agencies.
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13 THE DECLINE OF ORGANIC SOCIAL VISIBILITY – 3 TRENDS TO EXPECT Facebook has clearly figured out a profitable business model for social media networks – build a community, attract brands, let brands build an audience, cut off organic visibility for brands, brands pay for audience access. Don’t believe it? Ask the non-profit sector and meteorologists how this is impacting them. They’ve seen their organic reach decline from 26 percent down to two or less percent in the past two years. Facebook is not the only network to figure this model out, either. A year and a half ago, Twitter admitted that it will begin to implement a similar algorithm to reduce brands’ organic visibility. Within the last month Instagram reported it's moving towards an algorithm-driven feed model. This is clearly being done to replicate the Facebook business model. It’s unlikely that brands will abandon these social media networks in droves. The fact is they have massive communities that brands still want to get in front of. Many of them have already invested large chunks of their marketing budgets over the years and the thought of letting that investment go to waste isn’t a popular one. So what options do brands have to buck the limited visibility they’re facing? There are three ways brands can be seen in an age of zero-visibility. Expect these to become popular trends today and in the near future.
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1. THE OBVIOUS – INCREASED NATIVE PAID SPEND ON SOCIAL CHANNELS This is what the social networks want brands to do. It’s no secret that as Facebook’s stock price goes up as organic visibility declines. It’s working hard to drive incremental revenue quarter over quarter and shows no signs of slowing down. It’s also, perhaps, the easiest solution to the visibility problem for brands with deep pockets. Unfortunately, not all brands have deep pockets.
2. THE REBIRTH OF AN OLD FAD – BRANDS HIRING MAJOR SOCIAL INFLUENCERS AND INDUSTRY CELEBRITIES Remember towards the end of last decade when social media influencers and celebrities were being hired by brands left and right to represent them online and help construct social media programs? Think Ford hiring Scott Monty or ShoeDazzle.com paying Kim Kardashian $10k for a tweet. That fad faded away a bit over the last four or five years. In fact, it faded to the point that SponsoredTweets by IZEA had to completely change their business model and Scott Monty left Ford. Some brands wishing to maximize organic social visibility may return to hiring major social influencers and recruiting celebrity sponsors in order to avoid the branded organic visibility algorithms altogether.
3. EMPLOYEES, PARTNERS, FANS AND CUSTOMERS TAKE CENTER STAGE – NON-BRANDED SOCIAL ACCOUNTS TAPPED INTO AT SCALE There are basically two types of third party software that empowers brands with the ability to tap into advocates’ social networks. The first is pretty straight forward – advocates opt into the software and an administrator can send out social posts on their behalf. Solutions like Dynamic Signal and GaggleAMP make it easy to scale organic online advocacy.
The second set of solutions includes a layer of gamification...
The second set of solutions includes a layer of gamification that, in theory, should mobilize, incentivize and enable online advocacy at scale. These solutions don’t empower an administrator with direct access to advocates’ accounts, but rather, encourages them to take action for rewards. Some of these solutions include Influitive and Bunchball. These solutions aren’t necessarily as social media focused as the first set mentioned above. 38
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Brands that use this approach will be able to tap into many smaller audiences at scale, as opposed to tapping into one massive audience. Brands can avoid organic visibility problems on social media this way. Dynamic Signal offers their “5 Steps to Launching an Employee Advocacy Program” to help marketers head in this direction. Brands are at a social media crossroads today. They can no longer rely on organic visibility on Facebook to drive the engagement they need to reach goals. Twitter and other social networks aren’t too far behind, either. As a result, expect to see the three trends above pick up steam today and in the foreseeable future.
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Brands are at a social media crossroads today.
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14 5 STRATEGIC TIPS FOR NATIVE SOCIAL CHANNELS Over the last 12 months I’ve been fortunate enough to be able to experiment with multiple native social channels and have got to pick the brains of many innovative people that work in and around this space. This experience has exposed me to new cutting-edge companies, technology and research methodologies. The lessons learned have been priceless and paid for with much time and failure. The end result, however, is the below list that should serve to deliver strategic success through paid content distribution on native social channels while optimizing spend. It should help to save time, too, and mitigate failure. With the social channels slowly diminishing organic visibility, look to native social advertising to get branded content seen by the audiences on these channels.
1. TARGET WISELY Brands that use paid social media must remember it’s a marketplace. How they target interests, connections, behavior, demographics and geography all impact the cost of a campaign. Facebook in particular has over a million interests that can be targeted and Twitter has even more. As a result, targeting many long-tail interests that might be considered sub-interests of a broader category can help brands cut campaign costs by as much as 90 percent, thus, shoring up returns.
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2. WRITE LOGICAL AND ATTAINABLE GOALS Marketers have to establish measurable goals for the content they wish to promote on paid social channels because they dictate which channels to use and how to allocate budget. For example, distributing content (blog articles for example) at scale every time new content is published is likely cost prohibitive on LinkedIn and maybe Twitter. However, marketers wishing to promote a sweepstakes, webinar or eBook may find LinkedIn and Twitter well worth the cost.
3. MEASURE WHAT MATTERS After goals are established, marketers should track each channel’s performance by cost per click, cost per action or cost per lead. It shouldn’t only be tracked inside the social network’s user interface. The networks may not be able to report on things like time on site, bounce rate, cost per unique visitor, cost per subscriber and cost per action. This data not only helps marketers calculate returns, but it also identifies possible click fraud and bots.
4. BE CAREFUL WITH TERMINOLOGY Also, marketers should not always equate the click in “cost per click” with a visitor to a website. A click in social media can equate to a like, share, profile view, comment, favorite, etc. Make sure you’re paying for the actions you want. Actual website traffic for every “click” paid for can be as little as one sixteenth of the total actions gained by the campaign.
5. EXPERIMENT WITH NEW TOOLS, TACTICS AND NETWORKS Facebook is the most cost effective way for brands to distribute content at scale (blog articles or daily videos for example) using paid social media. Pricing is comparable to non-social native advertising networks known as content discovery. Those are the ad units that typically appear below articles from online publications. In the last few years content marketers have demanded new and better ways to promote and distribute their content. Nobody wants their content to be at the sole mercy of search engines and organic social media. As a result, many new tools, tactics and networks have sprung up to empower them with even more opportunity to deliver the right content to the most prudent people. Paid content distribution using native social media is one of the newer tactics.
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15 CONCLUSION The media landscape is robust and ever-evolving. In a world of 500% more content than what we had in 2015, it’s likely that tomorrow’s landscape will look much different than today’s. While the combatants will likely remain the same, the tactics and channels we use for paid content distribution will evolve, too.
The pressure for content to align with the buyer's journey is being felt on the paid distribution landscape.
Native advertising’s place in the macroeconomic landscape of digital content is clear. The pressure for content to align with the buyer’s journey is being felt on the paid content distribution landscape. Ad blocking software is beginning to impact how marketers are buying digital media, too. We’re still in the infancy of what native will eventually become. However, if these trends continue, it could turn out to be the primary content promotion and distribution tactic of marketers everywhere. It’s at this time when the buyer’s journey, content production and its paid channels of distribution will be in complete equilibrium and consumer’s ZMOT will be optimally satisfied by marketers.
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ABOUT THE AUTHOR Chad Pollitt, a decorated veteran of Operation Iraqi Freedom and former Army Commander, is VP of Audience and Co-founder of Relevance, a digital magazine, agency and events company dedicated to content strategy, promotion and marketing. He’s also an Adjunct Professor of Internet Marketing at the Indiana University Kelley School of Business. A member of a Forbes Top 100 list, Chad authored “The Content Promotion Manifesto” and “51 Things Your Mother Taught You About Inbound Marketing.” He is a regular contributor to industry media outlets, including the Huffington Post, Guardian and Social Media Today. He has been creating profitable online campaigns for over 14 years for brands both large and small while delivering tens of millions of dollars of tracked return on SEO alone. Named a top five content marketing thought leader and top 20 CMO influencer, he continues to innovate by leading the emerging industry of online content promotion and distribution. Twitter: @chadpollitt
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888.603.7337 relevance.com twitter: @relevance © relevance™ All rights reserved. v. 1, March 2016
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