Summary List PlacementHi! Welcome to the Insider Advertising daily for October 16. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at firstname.lastname@example.org. Today's news: Inside the future of millennial-news network Cheddar, the FBI interviews former Ruder Finn employees, and the ad experts up for hire.
Inside Cheddar, the millennial-news network trying to find its footing after a $200 million exit and big layoffs during the pandemic
Ashley Rodriguez spoke with Cheddar's founder, former employees, and analysts about the future of the "post-cable-network" model the company was built on after it sold to Altice last year and went through a round of layoffs this year. Founder Jon Steinberg said the network was focusing its distribution efforts on free streaming-TV services like Samsung TV Plus and growing direct and programmatic ad dollars. But some insiders questioned whether ad revenue alone could sustain Cheddar's growth — and how much more Altice is willing to invest in making the network a household name.
Read the entire story here.
The FBI probed public relations giant Ruder Finn about prospective work for the Chinese consulate, former employees say
Sean Czarnecki reports that the FBI questioned former employees at public-relations firm Ruder Finn about work the agency pitched for the Chinese consulate. The FBI asked the former employees questions like who was involved from the firm and the consulate and what the potential scope of work was. Lobbyists and representatives for foreign governments, including PR firms, are required to register with the US government, and the US government has been stepping up enforcement of this requirement, said Joshua Rosenstein, a lawyer at Sandler Reiff Lamb Rosenstein & Birkenstock.
Read the full story here.
Meet 18 top advertising and marketing pros who are expert at positioning brands, persuading consumers — and are on the market
Michael Kaminer identified 18 respected pros on the market who can help confront brand challenges in these turbulent times. While the pandemic has significantly cut ad spend, agencies and brands still need talent. The list includes agency veterans like Ed Gorman, formerly of Carat; and ex WarnerMedia CMO Chris Spadaccini.
Read the full story here.
More stories we're reading:
Inside Dallas ad agency The Richards Group, whose founder just stepped down after a racist remark caused clients like Home Depot and Motel 6 to flee (Business Insider) Meet the 11 execs who are leading Walmart's effort to challenge Amazon's advertising business (Business Insider) Amazon abandoned Prime Day promotions from celebrities this year because it shifted spending to meet demand amid an online shopping boom (Business Insider) The New York Post's dubious Hunter Biden article was shared 300,000 times on Facebook even after the company said it limited its reach (Business Insider) Leaked emails show L'Oreal is requiring employees to clean their desks three times a day and giving them two face masks daily (Business Insider) 'We want to be as frictionless as possible': Samsung ramps up its pitch to advertisers across Europe (Digiday)
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E-commerce advertising is skyrocketing in the pandemic. Meet 8 execs at Walmart, Amazon, CVS and more who are trying to turn retailers into big ad businesses.
Summary List Placement The advertising industry has taken a big hit from the pandemic, but e-commerce...Summary List Placement The advertising industry has taken a big hit from the pandemic, but e-commerce companies are reaping the benefits. With people shopping more from the safety of home, advertising on e-commerce platforms has boomed during the coronavirus. E-commerce advertising is expected to rise 39% to $17.4 billion in the US this year and represent 12% of digital ad spend, according to eMarketer. Amazon has long dominated e-commerce advertising but a number of companies like Walmart, Instacart, CVS, and Boxed are getting in on the action as retail's profit margins get thinner. They're pitching advertisers on data and audiences and rolling out new advertising platforms and features. "Retail media is having a moment right now — COVID has shifted a ton of sales online, and online sales are less profitable than in-store sales," said Jason Goldberg, chief commerce strategy officer at Publicis. "Retailers have to do everything they can do to improve profitability." Business Insider identified eight executives ranging from Amazon Advertising's Colleen Aubrey to Kroger's Cara Pratt who are leading this trend. We compiled the list through our own reporting and by talking to sources in the industry. One notable company missing from the list is Target. Target's top advertising leader Kristi Argyilan is leaving the company's in-house advertising firm Roundel, and Target said it would fill the role through an external search. Below are the eight executives in alphabetical order by last name.Colleen Aubrey, global VP of performance advertising, Amazon Key stat: Amazon is on track to make $13 billion in US ad revenue this year, according to eMarketer. The executive to know: Amazon quietly elevated longtime advertising exec Colleen Aubrey to take on a larger role after ad sales veteran Seth Dallaire left to become Instacart's chief revenue officer last year. Reporting into Amazon's executive suite, she oversees Amazon's search advertising business and has worked on products to build brand loyalty and awareness on the platform. She was a major face of Amazon's ad sales org at AdCon, Amazon's annual advertising conference, this year. Amazon's pitch: Amazon is the biggest game in e-commerce advertising. The retail site is the third-biggest digital advertising seller, behind Google and Facebook, and dominates ad budgets from e-commerce sellers and brands. Amazon pioneered keyword-based search ads that pop up on its website and app when people shop for a specific product like "red dress" — an advertising tactic now used by most e-commerce companies. Most recently, Amazon has beefed up its sales teams and pitch for brands to run ads using Amazon's data beyond Amazon's properties like in its connected-TV properties and programmatic advertising. What advertisers say: While other retailers have brick-and-mortar stores, Amazon's traffic is six to seven times bigger than Walmart and includes thousands of sellers, making it the biggest platform for e-commerce advertising, said Sreenath Reddy, founder of Intentwise, an ad management service for Amazon and Walmart sellers. "The distance between Amazon and everybody else when it comes to online audience sizes and online engagement is massive," he said. "My sense is that as these [other] retailers aim to get more search traffic, they'll always be hamstrung by the limitations of a purchase happening on their site." Erin Condon, VP of front store and omnichannel marketing, CVS Health Key stat: CVS has 10,000 stores in the US with 75% of Americans living within five miles of a location. The executive to know: Condon has held the role of VP of front store and omnichannel marketing at CVS since 2018 and was previously senior director of marketing. Earlier, she had marketing analytics and management roles at UPromise, Sallie Mae, and Discover. CVS' pitch: CVS has run an advertising business that helps brands promote products in stores for years but in August, rolled out a media network to expand its ad sales to social, search, programmatic and video ads on other media properties like Facebook and Google. CVS has run more than 100 campaigns on its media network. Condon said one of the big ways CVS differentiates is with custom campaigns using CVS' data. CVS also makes assets and creative for brands including branded storefronts and landing pages on CVS' digital properties. "The supplier is able to make more efficient use of their media dollars and get more relevant [ads] in front of the consumer," she said. What advertisers say: Elizabeth Marsten, senior director of marketplace strategic services at Tinuiti, said that while CVS' audience is smaller than Walmart and Amazon, CVS produces a strong return on ad spend because there is less competition. She also said CVS has an advantage in its Extracare loyalty program data that goes back many years. Seth Dallaire, chief revenue officer, Instacart Key stat: Instacart works with more than 500 retailers, reaching 85% of Americans. The executive to know: Instacart hired former Amazon ad sales leader Seth Dallaire last year to build a business letting advertisers promote products in search results. In addition to Amazon, Dallaire has also held sales roles at Yahoo and Microsoft. Instacart's pitch: Online grocery has long sat on the backburner of retailers' e-commerce initiatives — until the coronavirus hit. Instacart's on-demand grocery shopping business skyrocketed with people shopping from home. It hired hundreds of thousands of contractors who pick up and deliver groceries from retailers like Kroger and Costco. Instacart divides advertisers into five tiers that rewards top-spending marketers with perks like access to an API program and exclusive data about the brands people buy the most. What advertisers say: Instacart's ad business is still small, which makes its advertising twice as efficient as Amazon or Walmart's, said Sam Jennings, lead client strategist at e-commerce agency Marketplace Strategy. However, Instacart doesn't neatly fit into marketers' existing spending buckets, he said. "Instacart isn't a retailer and it's not a digital marketing platform, so I think a lot of people are having a hard time figuring out where budgets come from," he said. Edward Fong, director of business intelligence, Boxed Key stat: The average Boxed shopper buys 10 items and spends $100 per order, with 70% of people buying more than once. The executive to know: Fong is one of the first employees of Boxed, a e-commerce wholesale retailer, and helped onboard brands like Kellogg's to the platform. He's also developed tools like a data portal that shows brands stats like inventory levels. More recently he's focused on Boxed's advertising business. Boxed's pitch: The online retailer sells ads to brands like PepsiCo and Kind Snacks that can be targeted by location and search terms. A search for "soda," for example, could show an ad for PepsiCo-owned Izze. Boxed's pitch is that it has data that advertisers don't typically get from Amazon and Google like where and when people shop. The data is then used to recommend products to people and target ads. "[Advertisers] know that things are being sold but they don't know at a detailed level," Fong said. "We're willing to share data back with them." What advertisers say: Jason Goldberg, chief commerce strategy officer at Publicis, said that because Boxed's sales are smaller than Amazon and Walmart's — Boxed says that it sells about 1,600 products — it can win by emphasizing data and a good user experience. "As you get smaller, you need to offer more benefits — there is valuable data that retailers have not historically wanted to share," he said. Alex Kazim, VP of global advertising, eBay Key stat: 182 million people a month shop on eBay. The executive to know: Kazim is a longtime eBay employee who rejoined the company in June to lead its advertising business. He is an entrepreneur who co-founded news subscription service Ongo and has held leadership roles at Skype, HP, and FuelX. EBay's pitch: EBay was early to the e-commerce boom in 1995 and today has 1.5 billion live listings from sellers. Sellers can promote their listings through display ads, promoted listings, and native placements like email and push notifications within eBay's app. EBay also gives advertisers data like how many items someone looks at and what devices they use that is used to target campaigns. The company recently rolled out a first-party data tool that targets ads without using third-party cookies that are being phased out due to privacy concerns. In July, eBay spun off its classified advertising business for $9.2 billion in cash and stock to online retailer Adevinta. What advertisers say: EBay's e-commerce dominance has waned in recent years and it's marketplace is a fraction of the size of Amazon. Laura Meyer, founder and CEO of the Amazon-focused ad agency Envision Horizons, said eBay's smaller size makes it a tough sell with advertisers. One of eBay's advantages over Amazon is that its design makes it easy for advertisers' ads to stand out to shoppers. "As a result, Amazon can get a little messy if there's a ton of people selling your product," Meyer said. "The advantage of eBay advertising is that if you drive someone to your page, you're going to be the one getting the sale." Erik Keptner, CMO, Rite Aid Key stat: Rite Aid has 2,500 stores in 19 states. The executive to know: Keptner joined CVS last year after working in marketing roles at Western Food Corp. and Giant Food Stores. He is responsible for pushing Rite Aid into more e-commerce and partnerships, and launched a program where Amazon shoppers can pick up packages at Rite Aid stores. Rite Aid also has a deal with Instacart to deliver products to homes. Rite Aid's pitch: A newcomer to digital advertising, Rite Aid recently rolled out a retail media network called Rite Aid Performance Media that places keyword-targeted search ads on its website and app. The pharmacy chain outsources its sales to tech firm Quotient, which sells ads on Rite Aid's website and also co-branded ads on social media, programmatic, and digital out-of-home with messaging that a supplier's product is available at CVS. What advertisers say: Tinuiti's Marsten said that Rite Aid's ad business is an easy way for retailers to test advertising. A self-serve platform lets advertisers turn off and on search ads, which are easier to manage than TV or display advertising programs. "It's a good gateway — it gives you an always-on ability that you can control," she said. Rich Lehrfeld, interim head, Walmart Media Group Key stat: People visit Walmart.com 12 million times a day. The executive to know: In October, marketing exec Lehrfeld was named interim head of Walmart Media Group, filling a role that VP and general manager Stefanie Jay held. The longtime American Express marketing executive joined Walmart last year as SVP of brand, creative, and media and filled in as Walmart's interim CMO recently. The pitch: Walmart's ad pitch centers around data that shows advertisers how people shop in-store and online after seeing an ad. Walmart has recently started handling its advertising in-house after splitting with longtime agency Triad Retail, building out a tech stack and self-serve platform that allows adtech companies to manage ad campaigns for big spenders. What advertisers say: While still smaller than Amazon, Walmart's e-commerce sales are significant enough to command advertisers' budgets. "Walmart Media Group is nicely positioned in that direction," said John Lods, CEO at ad tech and media-buying agency Arm Candy. "The challenge of WMG and the technology that they have is that it's pretty rudimentary." Cara Pratt, SVP, Kroger Precision Marketing and 84.51° Key stat: Kroger's loyalty card data includes 60 million households and tracks 96% of sales. The executive to know: Pratt has worked at Kroger for three years, where she's responsible for product development, sales and advertising operations. She previously worked for shopper marketing firm Dunnhumby, which Kroger acquired in 2015. Pratt is also a member of the leadership team at 84.51°, Kroger's in-house analytics and advertising team. Kroger's pitch: Kroger has loads of data from its big loyalty program that spans its chains including Gerbes, Harris Teeter, and King Soopers. Kroger's ad business has two parts: One arm helps suppliers run direct marketing campaigns like emails and promotions, and the other uses Kroger's shopper data from 60 million households to target ads to people visiting Kroger's website and app. Kroger has also worked to prove people bought a product after seeing an ad, through efforts with Microsoft-owned retail tech firm PromoteIQ and by measuring sales from ads served on Roku's streaming platform. Kroger also has a deal with Pinterest that uses shopping data for ad targeting on Pinterest. What advertisers say: Kroger's ad sales dig deep into its trove of first-party shopping data, said Tinuiti's Marsten.
Summary List PlacementHi! Welcome to the Insider Advertising daily for October 19. I'm Lauren Johnson, a...Summary List PlacementHi! Welcome to the Insider Advertising daily for October 19. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at firstname.lastname@example.org. Today's news: The New York Post's ideological split, Fox makes bid for NFL games, and Dentsu pulls back on New York office space. Insiders at the NY Post are griping about the Hunter Biden coverage, highlighting a political divide in the tabloid newsroom Lucia Moses and I report that the publication of the New York Post's explosive Hunter Biden story last week quickly stirred questions and conspiracy theories among some Post rank-and-file. The Biden story also exposed a longtime ideological split between the leadership and the Post's newsroom staffers, many of whom do not hew to the owner Rupert Murdoch's conservative beliefs. Some say this divide has widened in recent years with longtime EIC Col Allan's return, the exit of some veteran older staffers, and increase in hiring on the digital site, where the staffers tend to be young. Read the full story here. Fox just made an aggressive bid for NFL football, and it could start a bidding war for one of TV's biggest prizes Fox has submitted its bid to renew its NFL rights contract, sources confirmed, kicking off a scramble among major media conglomerates for one of television's biggest prizes. The bid is believed to be in the $2 billion range, Bloomberg first reported, which is 50 percent higher than its current contract, said a source. The offer is said to have rankled other networks whose business has taken a hit from subscriber declines and the pandemic. Read the full story here. Advertising and PR giant Dentsu is the latest corporate tenant to cast off glitzy NYC offices as more companies rethink their footprints Daniel Geiger reports that Dentsu is seeking to sublease a glitzy new office space it leased late last year on Manhattan's West Side. The holding company is the newest firm to contemplating the future of the physical workplace due to the economic downturn. Dentsu had planned to consolidate employees from four Manhattan offices into 320,000 square feet it leased late last year at the Morgan North Post Office Building by 2023. Read the full story here. More stories we're reading: As TV giants deemphasize their legacy businesses, it may be time for them to embrace outsourcing sales (Business Insider) Procter & Gamble has a history of acquiring small but fast-growing brands, and experts think these 10 companies could be next (Business Insider) Cannabis retailer MedMen is still struggling to reverse a sales slump, and the shares are tumbling (Business Insider) Instagram will add e-commerce options to its TikTok rival Reels later this year. Influencers and marketers explain how it will impact their business. (Business Insider) Hulu gets sidelined in Disney's global streaming ambitions (Bloomberg) Social-media investors could be calling the ad game all wrong (Wall Street Journal) Thanks for reading and see you tomorrow! You can reach me in the meantime at email@example.com and subscribe to this daily email here. — LaurenJoin the conversation about this story » NOW WATCH: Why some Hong Kong skyscrapers have gaping holes
Summary List PlacementHi! Welcome to the Insider Advertising daily for October 12. I'm Lauren Johnson, a...Summary List PlacementHi! Welcome to the Insider Advertising daily for October 12. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at firstname.lastname@example.org. Today's news: Postmaster General Louis DeJoy hires a consulting firm, Beyond Meat bets big on breakfast, and Instagram adds audio features to Reels. Facing Congressional investigation, Postmaster General DeJoy hires a consulting and PR firm with deep Trump administration ties Patrick Coffee reports that Postmaster General Louis DeJoy hired a consulting firm with ties to President Trump to represent him after the House Oversight Committee launched an investigation into his private business. The investigation follows a Washington Post report that the longtime Republican fundraiser may have violated campaign fundraising law. Patomak Global Partners was founded by Paul Atkins, a former SEC executive who has advised Trump on financial deregulation and served on his business council. Read the full story here. Beyond Meat thinks breakfast is the next big battlefield for plant-based meat makers — its CMO explains why Alex Bitter spoke with Beyond Meat's CMO Stuart Kronauge about why the brand will start selling breakfast sausage links at retailers like Kroger and Whole Foods, the plant-based meat company's fourth product introduction and second breakfast-themed one so far this year. Rival Impossible Foods has also spent 2020 breaking into breakfast sausage, though the company has focused on restaurants instead of retailers. Sales of fresh plant-based breakfast meats nearly tripled in the 12 weeks ending August 9, according to data cited by Beyond Meat from provider SPINS. Read the full story here. Instagram has added new audio features to Reels that solve a major pain point for music marketers and could help it compete with TikTok Instagram rolled out new products last week to make it easier for people to find trending songs on Reels, reports Dan Whateley. The company created a new song discovery page featuring "trending" tracks, added the ability to share audio pages with friends in direct messages, and created an option for users to bookmark songs for later use (similar to the "favorite" feature in TikTok). The features could help Instagram compete more with TikTok, which has a heavy focus on music. Read the full story here. More stories we're reading: Amazon is giving free Prime Day credits worth $200 to first-time ad buyers, as it tries to leverage its retail muscle to boost its advertising business (Business Insider) Shaq, MLK's son, former Disney executives team up to create SPAC (Wall Street Journal) Google tries to turn YouTube into a major shopping destination (Bloomberg) TikTok spins Ocean Spray-Fleetwood Mac viral video into a commercial (AdAge) Thanks for reading and see you tomorrow! You can reach me in the meantime at email@example.com and subscribe to this daily email here. — LaurenJoin the conversation about this story » NOW WATCH: Why electric planes haven't taken off yet