The future of commerce and AI: Insights from Paramount’s Travis Scoles
In today’s fast-paced digital advertising landscape, the game is changing rapidly. The traditional focus on personalization is evolving into a deeper, more meaningful pursuit: relevance. This shift is reshaping how brands connect with consumers, primarily through the power of connected television (CTV). Travis Scoles, Executive Vice President of Advanced Advertising at Paramount, recently shared his insights on this transition. His expertise in advanced advertising provides a valuable lens through which to understand the evolving landscape of CTV and digital marketing. His perspective offers a glimpse into the future of advertising, where relevance reigns supreme, digital tools enhance traditional media, and artificial intelligence drives unprecedented innovation.
Relevance matters more than ever
While personalization tailors messages based on specific data points, relevance resonates with individuals on a deeper level. Scoles articulates this shift, saying, “What makes something relevant? Well, it’s relevant because it resonates with a person. At the end of the day, it’s always people that are absorbing advertising and making brand decisions.”
This shift is significant for advertisers as it underscores the need for messages that genuinely connect with consumers. In a world where audiences are inundated with content, relevance ensures that advertisements stand out and drive meaningful engagement. Brands that can master relevance are more likely to build stronger connections with their audience, leading to increased loyalty and higher conversion rates. This focus on relevance is particularly important in an age where consumers expect tailored experiences that speak directly to their needs and preferences.
The convergence of television and digital tools enhances advertising
CTV combines traditional television’s storytelling power with digital’s precision and measurability. “Digitization allows us to do things like think about addressability and think about measurement differently,” says Scoles. This convergence enables advertisers to reach audiences with highly relevant content at scale, leveraging the strengths of both mediums.
For brands, this convergence means a more strategic approach to advertising. Traditional TV has always been valued for its ability to tell compelling stories and reach large audiences. However, the addition of digital tools allows for more targeted, data-driven approaches. Advertisers can now deliver specific messages to specific audience segments, improving the efficiency and effectiveness of their campaigns. This fusion of traditional and digital media provides a comprehensive advertising solution that combines the broad reach of television with the precision targeting of digital platforms.
AI is the future of commerce and advertising
Discussing Paramount’s advancements, Scoles highlights their efforts in “accelerating our shopability capabilities” and “measurement attribution.” He emphasizes that television, now enhanced by digital tools, serves as performance media, driving tangible results for advertisers. This focus on measurement and performance is crucial for demonstrating the effectiveness of advertising strategies.
Moreover, Scoles touches on AI’s transformative potential, noting, “AI has actually existed for a long time… but machine learning and all of these other pieces are so far ingrained in all of our businesses and processes.” The integration of AI and machine learning continues to refine and improve the relevance of advertising, ensuring consumers receive the most appropriate recommendations at the right time.
For brands, the advancements in AI and shoppability present new opportunities to drive performance and measure success more accurately. AI-powered tools enable brands to analyze vast amounts of data, gaining deeper insights into consumer behavior and preferences. This data can then be used to optimize advertising campaigns, ensuring that messages are not only relevant but also delivered at the right time and place. The emphasis on shoppability also highlights the growing importance of seamless, end-to-end customer experiences, where consumers can move effortlessly from ad engagement to purchase.
Embrace AI and relevance with Rokt
Travis Scholes’ insights highlight the importance of relevance, the convergence of traditional and digital media, and the transformative potential of AI. At Rokt, we embrace these advancements to enhance the post-purchase experience, ensuring that every transaction moment is maximized for relevance and value. With our powerful AI, built over the last 12+ years, we empower businesses to thrive in the new era of digital advertising.
To learn more about how Rokt can enhance your e-commerce and retail media strategy, visit our retail media page.