Digital video advertising providers are continuing to looks for ways to move television dollars online. One way they are trying to do that is by making online video ad buying a little more like television ad buying.
LiveRamp, a data on-boarder, and Videology, a video ad software provider with a programmatic platform, on Wednesday announced a partnership. The partnership will allow brand advertisers to use their first-party data for digital video advertising via Videology's platform.
Scott Ferber, chairman and CEO of Videology, stated that he believes first-party data will "play an integral role in the future" of digital video advertising. However, he argued that it has not been easy for brand marketers to use their own customer data at scale or as fast as they would like.
In the release announcing the partnership, the companies claim that the ability for brands to use their first-party data will make planning and purchasing digital video campaigns more like television. The release says, "Videology's platform allows buyers to use their on-boarded data for reservation-based buying, similar to the way television is planned and purchased."
Vik Kathuria, managing partner, digital investment, MediaCom, stated,"Brand advertisers are sitting on a tremendous amount of customer data." He added that the challenge is to use that data in a way that actually generates value.
Videology says that there has been a steady increase in brands using first-party data to target consumers on their platform. They claim that campaigns using first-party data, "especially data tied directly to purchasing behavior," often have higher brand and sales lift results.