To many people in the European video advertising market, Innovid is mistakenly regarded as a creative point for interactive video ads even though the company has a full video stack encompassing everything from ad serving right through to analytics. Matt Colebourne has recently joined the company from Trinity Mirror, where he was Director of New Business. At Innovid he will act as Managing Director for EMEA as the company renews its focus on the European market.
Innovid enjoys a significant market share of the US video advertising market – particularly on ad serving – but growth has been a little slower in Europe. What’s the plan going forward?
Innovid has been very successful in EMEA too – but with more of a focus on advanced creative rather than the complete Video Marketing Platform. We work with all of the top agencies and brands already! However, it’s definitely true that we are not seen as a major player overall, rather a point solution, and we intend to change that.
The plan going forward is therefore to focus on how our Video Marketing Platform provides a complete solution for all of a client’s video marketing needs. As such, whilst it’s always tempting to revert to showcasing our award-winning creative treatments, we are now going to be focusing on our ability to deliver, verify, optimise and integrate (as well as create of course) and to offer our full-service solution so that advertisers and agencies can reduce ad-ops costs, avoid delays, prevent fraud and mis-delivery and deliver large and complex video campaigns effectively.
Are agencies really joining the dots on creativity and tech, or are the two worlds still working in silos?
I would say that, at present, it’s patchy. I think that nearly everyone realises the benefits and is seeking to integrate the two to maximise performance and to engage with each customer through an individual conversation over multiple channels. However, making this happen can be hard. Integration between tools can make it hard to really exploit data that a company already holds and the skills to make it happen can be in short supply.
This is why our roadmap is focussed on providing both the tools to do this but also the skill-set to create, deliver, and integrate – and then to activate data, assist with optimisation, and offer detailed analytics.
How does Innovid differentiate itself in what is still a crowded and highly competitive market?
Innovid differentiates itself by offering a complete solution for video marketing. There is simply no other company that reaches as many screens and channels, is integrated with as many leading verification solutions, can leverage first and third-party data, all while providing a comprehensive solution that includes best-in-class service to make campaigns happen cost effectively and on time.
Our competition are companies which claim to offer complete marketing solutions irrespective of media type. We think that video is sufficiently different, and also sufficiently challenging, and it deserves a separate suite of tools and services to make it work effectively.
We also believe that, at the same time, we should be a neutral party and an open platform so that, whilst we exploit the full capabilities of our products to deliver engaging, interactive, and personalised video, we can also provide marketers and agencies with a single view of a video campaign from a consolidated dashboard.
Which areas are you seeing the fastest growth in? And are there any areas that aren’t living up to the hype?
The fastest growth for us is in our platform business. We grew to become the largest video marketing platform in the US last year and we are seeing a strong start to 2017 in EMEA with that product set.
I wouldn’t say that any areas of the business are overly hyped – but I think some of them have not fully scaled simply because it takes time for the market to catch up with the possibilities. Right now, not so many advertisers are really using first and third-party data to deliver personalised video. They want to, they know that it delivers much better ROI and the possibility to offer a level of customisation and interactivity which will engage viewers. but some are unsure how to make that happen. We can help them.