Media360: ‘Consumers should be reminded of value exchange of ads’

Media360: ‘Consumers should be reminded of value exchange of ads’

Adland needs to promote the value exchange that consumers often forget about, Mark Howe, the managing director for agency sales in north and central Europe at Google, told Media360 today.

In the final session of the two-day conference in Brighton, Howe said that consumers have a lot of free opportunities to connect and interact with advertisers.

He said this is provided by sites such as Google and Facebook which generate revenue through adspend.

Howe said: “We need to, as an industry, continue to build trust and [understand] that the consumer is king – content is not king – then we have to engender the value exchange, they get free stuff because of the power of advertising.

“Trust to me equals empathy times consistency and competency over time. We have to be consistency competent in what we do. We can interact with our consumers and take feedback in real time.”

Steve Hatch, the director for UK and Ireland at Facebook, added that if the industry is to push the value of ads then it needs to make more powerful work.

He added there has been a “fundamental shift” to mobile that the industry is only just beginning to “grapple” with.

Richard Eyre, the chair of the Internet Advertising Bureau, said that trust does not sit only in advertising, but also in brands and media owners.

He said: “People either trust or don’t trust Twitter. Brands must work to build trust and the media owners too.”

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The range fluctuates this much because many factors come into play when calculating a CPM. Quality of traffic, source country, niche type of video, price of specific ads, adblock, the actual click rate, watch time and etc.

Cost per thousand (CPM) is a marketing term used to denote the price of 1,000 advertisement impressions on one webpage. If a website publisher charges $2.00CPM, that means an advertiser must pay $2.00 for every 1,000 impressions of its ad. The "M" in CPM represents the Roman numeral for 1,000.

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