Foxtel Media is launching Foxtest which allows brands to run experiments across advertising content, experience, and data.
The new offering represents a $3 million investment from the media company and was revealed at today’s Foxtel Media Showcase.
Foxtest was born from on-going campaign innovations with brands such as Hyundai, which are testing new approaches in seamless video buying, and a large retailer who has begun data integration testing.
From today, Foxtel Media is opening the Foxtest experimentation platform to 10 new brands and their agencies, with innovations beginning to be trialled in 2022.
Brands will be able to innovate across key areas such as content, which includes impact of context, assessing inventory on engagement, and re-evaluating standard media metrics, ad experience, which includes impact of lower ad loads on advertising performance, the co-creation of new ad formats or tactics to enhance to command more attention, and data, which includes third-party data ingestion and segmentation, deeper consumer insight, sales attribution.
Foxtel Media will work with brands to create custom testing programs for their advertising.
“Foxtest is a new philosophy when it comes to innovation, and it’s all about putting the client first,” says Foxtel Media CEO Mark Frain.
“Rather than dictate what brands and agencies should be doing, we’re inviting them into the tent and working together to solve the big challenges that we face as advertising transforms and intelligent video becomes the new reality.
“Whether you’re using data integration to close the loop between ad exposure and sales, or like Hyundai, unlocking 20% incremental reach with an aligned approach to better video buying, there is no cookie cutter formula for innovation.
“Foxtest will offer a sandbox for marketers to test and learn, ensuring that advertising dollars are delivering the maximum return on investment. We’re making a $3 million commitment to evolve alongside our brand and agency partners, and to transform Australia’s advertising market.”
Westpac has already signed up to partner with Foxtel Media using Foxtest. The bank will trial a project plan to test for direct links between the cost of advertising and the effectiveness of a campaign.
“Brands are facing disruption on many fronts and need to be open to change so they can find the most effective way to communicate with their audiences,” says Westpac group head of brand, advertising, and media Jenny Melhuish.
“We want partners who share a mindset of being innovative and willing to challenge the status quo, based on an understanding of the metrics of our business.
“By co-investing and working side-by-side with Foxtel Media as we trial this new trading model, we are creating the opportunity to try new approaches to optimise campaign effectiveness and further prove the power of advertising in our business."
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