Updated: Feb 3
The big takeaway: The Yeezy Gap Balenciaga collab is made for immersive storytelling in publishing - and the reason why contextual shoppable video should exist.
Shoppable is not new, but it's just in time to help the world come to grips with third-party cookies removal. It's also the glue that bridges two unique worlds of content and data together. Here's why:
Google and Facebook have lots of data about consumer purchases.
Publishers and streamers have lots of content IP, data, and brand partnerships but little technology.
The new era of technology partnerships is rooted in democratization, where everyone gets a chance.
"Shoppable Video" is at the helm of bringing brands, agencies, publishers, and the democratized tech ecosystem together where content + consumer purchase data are Queen.
Google and Apple's decisions have pushed the entire entertainment and media ecosystem to new challenges - or opportunities (we are a glass runneth over kind of team.) Whichever it is, Shoppable in premium streaming video environments is the super glue that the publishing community needs for mini walled garden concerts. Above all, premium publishers with immersive storytelling video capabilities across movies, series, advertising, brand, editorial, and sponsored content should begin working on the pivot now. And it might look like this:
A simple but effective set of technology solutions that work cooperatively and contextually, yet subliminal fashion
Cross collaboration with small tech, agencies, publishers, and brands who are in it to help democratize the garden
Cross-channel attribution may be the most pressing challenge to figure out, but the data will be more valuable.
Fresh approaches: Data & privacy compliance, modeling ready-made for mini-garden collaboration.
Improved customer journeys help viewers move with ease inside immersive viewing experiences to discover and buy.
No redirects, no dead links.
Brand response campaigns may become the preferred.
Advertisers with massive customer databases collaborate and build different networks. (More on this below)
Like social giants, only one mainstream media company (NBCUniversal) is putting a significant stake in the ground to build its own walled garden. According to NBCUniversal, they say their shoppable linear TV campaigns, on average, "fetches a 73% higher conversion rate than the industry benchmark for commerce-enabled campaigns, at 1.5% conversion rate." The media giant is building a massive closed ecosystem that includes cross-channel measurement for linear, streaming, and digital publishing.
Then there's this - CTV publishers & TV manufacturers are "not subject to the same ID headwinds as digital publishers who operate predominantly within the closed Apple & Google ecosystems." This is why the open and interoperable CTV ecosystem is on the climb. And this ... Data that comes from contextual shoppable is incrementally more valuable when the purchase happens in immersive content environments.
Circling back on this.
Shoppable video is just the thing that small, diverse publishers & streaming communities could benefit from in anticipation of more media dollars. In the aftermath of George Floyd, many brands promised a changing tide to spend more of their ad budgets with BIPOC- and LGBTQ+-owned and operated publishers and media, including podcast creators and CTV channels, and announced commitments from 2-5% (General Mills, L'Oreal, Target and Nestle all committed 5%.) As the community searches for more opportunities, Shoppable Video may be just the revenue driver, brand accelerator, and data engine powerhouse that will turn them into mini walled gardens with deep reach and buying power.
So, for the agencies such as GroupM, Havas Media, and H Code with multicultural private marketplaces doing this work - this is probably a good place to continue the momentum. And for the independent publishers like REVOLT and The Plug - here is the plan.
Fade Technology is building and partnering for the mini walled gardens. Publishers want an alternative to redirecting traffic away from their platform or owning a commerce business model. But not every publisher wants to own an eCommerce store. Fade is the alternative that lets media companies get back to the business of distributing content that increases retention, time on site, revenue, and reduces customer churn. FADE makes premium video shoppable everywhere viewers consume immersive content on mobile, desktop, and tv. A BIPOC, women owned company that thinks about shoppable video a lot.