Karina Dobarro announces a new role and position at Horizon Media: Diverse Omni-Channel Investment Lead to level up the agency’s efforts in driving consideration and investment with diverse-owned and -targeted media.
Karina Dobarro,
Increasing investment targeting diverse audiences, mainly through minority-owned media, has been at the top of the agenda for leading media buying agencies like Horizon Media, at least since the rise in 202o of the Black Lives Matter movement. According to the Portada Insights Report: Marketing in Multicultural America 2023-2027, African-American, Asian American, and Hispanic-targeted advertising investment amounted to US $12.1 billion in 2022, an increase of 10.7% versus 2021, driven by the realization that multicultural audience-targeted advertising is not only a high ROI business but also a purpose-driven way of increasing inclusion and equity. Yet, Dobarro sees some clouds on the horizon: “We are starting to experience a loss of momentum and growth slowdown with diverse media partially driven by the continued economic and political uncertainty. This will unlikely change in 2024 as we move into a presidential election year, bringing new challenges like limited media inventory and premium pricing.”
We are starting to experience a loss of momentum and growth slowdown with diverse media partially driven by continued economic and political uncertainty.
New Role at Horizon Media: Diverse Omni-Channel Investment Lead
To help Horizon Media clients navigate these circumstances, Dobarro states that Horizon Media has created a new role: “Diverse Omni-Channel Investment Lead, to level up our agency efforts in driving consideration and investment with diverse-owned and -targeted media. This role will bridge the strategy and planning work led by the Multicultural practice to in-market placements and partnerships with diverse media. Given current economic pressures and the increased focus on media budgets driving business results, we must increase our efforts to ensure that at a minimum we sustain all the growth we have shifted to diverse media over the last few years.”
We must increase our efforts to ensure we sustain all the growth we have shifted to diverse media over the last few years.
Horizon Media: Deal with VideoAmp about New Currencies
Another critical topic in the media planning and buying space is currencies. Currencies are the financial unit of value for buying and selling TV ads based on measurement data. Some forms of measurement, such as reach and frequency, can become a currency when buyers and sellers agree to transact real dollars against it – but not all measurements can make that leap.
A media sales executive said at a recent industry event that he would “like media agencies to transact in multiple currencies”. Asked about how she assesses this topic, Dobarro notes that. Horizon has taken an early lead in Big Data video delivery measurement: “Our partnership with Videoamp has enabled us to negotiate and transact on VideoAmp as currency for demo and advanced audience guarantees for national linear television across select clients.” Dobarro adds that the agency will also utilize VideoAmp for planning, analytics, and measurement. This agreement results from a rigorous landscape analysis and evaluation leading to the selection of VideoAmp because of its vast adoption on the sell-side, market-leading data, methodology, and complementary toolset to allow for effective planning and optimization, as well as customized solutions for clients. Videoamp’s robust and scaled big data is helping brands find new viewership opportunities, such as more vital Hispanic impressions and ratings, to drive better business outcomes for our clients.”
Videoamp’s robust and scaled big data is helping brands find new viewership opportunities, such as more vital Hispanic impressions and ratings, to drive better business outcomes for our clients.
Opportunities in Retail Media Targeting Diverse Audiences
Retail media, particularly in its newer digital version, is an opportunity for marketers who want to engage diverse audiences, says Dobarro. “I don’t believe brands leverage retail media sufficiently when looking to reach multicultural audiences.” “Hispanics are particularly avid online shoppers and more open to DTC shopping than non-Hispanics. Retail media, specifically online, provides a platform to engage diverse audiences with more personalized messaging that can be in-culture and/or in-language,” Dobarro concludes.
Retail media, specifically online, provides a platform to engage diverse audiences with more personalized messaging that can be in-culture and/or in-language.
