Google created a buzz during this year’s Upfront Week in New York City, luring media executives and advertisers to what it called a “TV Ads tune in event”.
“But what does Google have to do with TV?” you may be asking. The answer is that Google are now selling TV advertising spots, promoting what it describes as “a flexible, all-digital system for buying more accountable and measurable TV advertising”.
thr.com quotes Google TV Ads director Mike Steib as saying that US based agency chain Coldwell Banker is among a number of companies now committed to buy Google’s TV advertisements throughout the year. Coldwell Banker chief marketing officer Michael Fischer reportedly told event attendees to “think outside the site”, referring to Google TV Ads as well as the Coldwell Banker’s recently launched YouTube channel.
Through Google TV Ads’ auction based system, advertisers bid for spots on a number of US cable TV channels. The automated system allows for same-day buying, with companies naming the price they are willing to pay per 1000 viewers (CPM). A traffic estimator outlines whether this CPM bid is high enough to secure a spot.
Using anonymous data from set-top-boxes, Google is able to determine when viewers tune into an advertisement for five seconds or more, and only charges companies in this case. Once an advertisement has gone to air, it can be evaluated in terms of viewers, and its schedule revised accordingly.
Companies are able to choose networks for their advertisement along with programs, times of day and overall duration. Google also uses set-top box data in combination with information from Equifax to allow advertisers to choose spots based on demographics.
Google is promoting TV Ads after pulling out of efforts to sell print and radio advertising earlier this year.
A run-down of the TV Ads buying process is available on the website, as well as in video format:
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