Podcast: Problem Solved - Create with Nova
Welcome to our latest blog post, where we discuss the insights from a recent "Problem Solved" podcast episode featuring Jay Westlin, CEO of Fastener, and Matt Crenshaw, President of Nova. In this episode, they dive into the challenges faced by publishers in generating consistent revenue, the increasing importance of creative solutions, and how Nova is helping publishers increase their ad revenue in a post-cookie world.
THE PROBLEM: GENERATING CONSISTENT PUBLISHER REVENUE
Matt Crenshaw begins by discussing the difficulty publishers face in generating consistent revenue, especially as most publishers are ad-supported businesses. Although some publishers have tried diversifying their revenue streams through subscriptions or e-commerce, only a few have turned these experimental line items into core revenue streams. This leaves most publishers reliant on ad revenue.
With the deprecation of cookies and the growing concerns around privacy and data accuracy, the digital publishing industry has focused on trying to find new ways to collect data. However, Matt argues that the real question should be: "How do you make ads better, and how do you give publishers tools to deliver more value to advertisers?"
THE IMPORTANCE OF CREATIVE
A study by Nielsen (backed up by Google) showed that creativity is the most significant factor in driving ad effectiveness. Despite this, the programmatic world has continued to prioritize data over creativity. Matt believes that while data has its place, creativity should be front and center in the conversation.
Currently, the best creative ads on the internet are on social platforms like Facebook, Instagram, Snapchat, and Twitter. These platforms have created ad formats that are visually appealing, fit their platform, and deliver results. Nova's solution allows publishers to capitalize on this trend by bridging the gap between social platforms and the open web.
NOVA'S CREATIVE SOLUTION
Nova's technology enables publishers to automatically lift social creatives from platforms like Facebook and Instagram, convert them into ad units that can run programmatically across the open web, and extend their campaigns across desktop, mobile apps, and CTV. This process is quick and easy, requiring just one click and no ad-building or approval processes.
By utilizing social creatives, publishers can achieve better click-through and conversion rates. Traditional display ads, which are easy to create but don't perform well, can be replaced with social creatives that are both effective and scalable. Furthermore, by offering these new ad formats to advertisers, publishers can position themselves as innovative and stand out in a competitive market.
THE ADVANTAGES FOR PUBLISHERS
Using Nova's technology, publishers can start making money faster and win more renewals from advertisers, who are increasingly valuing brand-safe environments and first-party data. With the right creative solution, publishers can compete with social platforms and offer more value to their advertisers in the long run.
Matt concludes by emphasizing the importance of upgrading ad products on a platform level rather than focusing on one-off improvements. By leveraging automation, efficiency, and performance gains, publishers can bring creativity into the modern era and ultimately increase their ad revenue.
KEY TAKEAWAYS
As the industry continues to face challenges in the post-cookie era, creative solutions like Nova's platform can help publishers generate consistent revenue and provide more value to advertisers. By focusing on creativity, publishers can capitalize on the success of social platforms and stay ahead in the ever-evolving digital publishing landscape.
Be sure to check out the full podcast episode of "Problem Solved" with Jay Westlin and Matt Crenshaw for more insights and discussions on creative solutions in digital publishing.