At the last ADTHINK, we heard from Gina Waldhorn, Co-founder of Evol8tion, who questioned three innovative entrepreneurs Canvs, Msg.ai, and Wrapify, about what happens when brands and startups come together. With the help of our well-regarded panelist: Timothy Hubbell, Director, Brand Marketing, ESPN; Elliot Lum, VP Strategic Marketing, Sony Music (Columbia Records); and, Kate Worthey, Senior Manager Of Innovation, Anheuser Busch, we addressed the challenges of collaboration between big name brands and startups and how to overcome those obstacles.
A special thanks to our sponsor David & Gilbert, and all of those who came out to support the moderator, panelist, and startups!
Missed the last ADTHINK? See the recap and key findings below!
Refreshing Old Ideas With New Technology
Most startups begin with an idea that’s stemmed from a preexisting concept. What makes a startup a startup is implementing cutting edge solutions into those preexisting ideas. Wrapify, a disruptive advertising platform, took an original concept and made it viable again. By connecting drivers and brands to create powerful OOH (on-vehicle) advertising, Wrapify was able to reach into an untapped market.
Timothy Hubbell from ESPN measures success by reaching the unreachable. The problem most advertisers face is connecting with a wider targeted audience. In this day and age, being able to connect and influence a younger audience is vital.
For big name brands, consumer insights are one of the valuable tools in connecting with your customer. Advertisers want to know how their consumers are feeling, what resonates with them, and how they can use that information to create a message to align with both consumer and products. The problem is how do you quantify emotions in relation to content? Canvs, the only qualitative social TV platform has the ability to provide nuanced insights into audience behavior at scale. Brands want to invest in emotional programming but have some reservations due to the informal way consumers speak about content.
“There’s two real core problems, first the way we speak about content is not binary,” said Elliot Lum, VP Strategic Marketing, Sony Music (Columbia Records. “Also, no one speaks correctly on social media.”
Consumer Engagement and Artificial Intelligence
Building off of the topic of consumer insights, once brands have access to their targeted markets, how do they plan to keep them engaged? How do big legacy brands connect to their consumers in a manner that is authentic? Msg.ai is an artificial intelligence company for conversational commerce, enabling brands and businesses on mobile messaging apps. The platform allows for customer at any point in time help predict customer mindset and need in real-time. “Big legacy brands aren’t built for startups,” said Kate Worthey, Senior Manager of Innovation, Anheuser Busch. Applications such as Msg.ai help align the brand vision with the need of consumer.
Our next ADTHINK event is on November 12th. Don’t miss out! Register today!