Brad Brinegar reveals new Rising Star ad units at IAB
Brinegar announces winners of Rising Stars competition; says new units aim to spur greater creativity in interactive advertising.
McKinney Chairman and CEO Brad Brinegar says the new brand-friendly ad formats are welcome but long overdue. As founding chairman of the IAB’s Agency Advisory Board, he led the panel at the 2011 IAB Annual Leadership Meeting that presented the six winners, dubbed Rising Stars, designed to spur creativity in interactive advertising.
He cited digital milestones of the past year, including Apple’s market cap of $321 million, Netflix’s stock growth of 50%, the social power of Facebook, Twitter and Google to fuel the launch of democracy in Egypt, and the IAB’s completion of the first real update of online ad standards in over a decade. “The IAB’s Rising Stars Initiative may not compare to regime change, but it is the first step in an important journey,” he told more than 700 interactive media and innovators in attendance.
“The standards agencies work with today came from a direct marketing mindset. Future growth in online spend requires that we gain the attention of the top 100 advertisers.”
Brad cited eMarketer’s spend of less than 7% of their budgets online. “The top 21 CPG advertisers allocate just 3% to online media,” he added. “If you want more of their money, you are going to have to build an advertising environment that is conducive to the building of brands.”
He said McKinney knows it’s ripe ground. “We’ve seen dramatic differences in performance simply between magazine ads delivered the old-fashioned way and those built for pad-delivered interactive engagement. The same basic concept, in the same magazine titles, generated a 71% increase in interaction with the ad, a 60% increase in engagement and a 59% increase in purchase interest when delivered online,” he said.
“We also know the demand is there,” he added. “Video accounted for 4% of total 2009 online spend, but 13% of the growth in 2010. And it’s projected to drive 29% of the growth in spend from now to 2014. That forecast is predicated on the ability of big advertisers to see the same kind of results we are seeing in ‘print’ in video. But again, the current environment is not conducive to building brands.”
Brad said agencies are left with two choices: strip out interaction and run a dumbed down campaign, or create expensive rich-media programs that achieve insufficient reach.
“Dr. Schmidt talked about the trade-off between personal experience and scale,” he added, citing Google Chairman Eric Schmidt’s keynote address delivered a day earlier. “There’s another scale issue. We in the agency community need the tools to scale creativity.”
Brad closed with a call to action to all IAB members. “Members of the Agency Advisory Board, the buyers of your ad products, urge you to adopt and promote these units. Even more than that, we ask you to help the IAB’s innovation of ad standards match the pace of the entire industry. Build it and we will come.”