Key takeaways from TripleLift’s Cannes Lions panel on the value and challenges of diverse media marketing

“In our report, we saw that investment is expected to increase but in reality, how is that coming into fruition? Because a large part of the challenge is related to investments and having the ability to bring forth diverse-owned media and publishers that have a lot of money and a lot of infrastructure,” she says.

Relevance and resonance over mere reach

Bonin Bough, co-founder and chief strategy officer at Group Black, provides a critical insight into the importance of resonance and relevance in advertising, particularly in reaching diverse audiences.

He explains that while it is possible to reach diverse audiences through various media, the true value lies in creating content that resonates. “Marketers don't realise you can't mistake reach for resonance and relevance. So, while some of those other publishers who are black or diverse-owned might be able to reach diverse audiences, can they actually unlock the value?” he questions.

Bough drew parallels to historical examples, such as Procter & Gamble's 1950s creation of soap operas to resonate with their target demographic. The takeaway is that resonance and relevance are crucial for unlocking the full potential of diverse consumer markets.

In short, if advertisers channel investment through diverse-owned publishers, they will create content that resonates and is relevant to their audience, truly unlocking growth. Bough agreed investments might be slowing down, but it's still flowing and that the mistake lies in relying solely on traditional platforms.

“The dirty secret is that yeah 100%, we're seeing a decrease, but it depends on when you think about DEI and what we're asking,” he added. “The reality is DEI is the only growth market.”

Representation drives consumer engagement

Representation in media and advertising is a powerful driver of consumer engagement and loyalty. Bough argued that representation significantly impacts consumer behaviours, citing the international box office success of Marvel’s Black Panther movie as an example.

“When you put an all-black cast in a movie, it then becomes the number one movie because we saw ourselves in it,” says Bough.

This example underscores the broader point that consumers are more likely to engage with content and brands that reflect their own identities and experiences. Effective representation can transform not only individual campaigns but entire market segments by fostering a deeper connection between brands and consumers.

Providing infrastructure and tools for diverse media

Rhonesha Byng, founder and chief executive officer at Her Agenda and co-founder of Black Owned Media Equity and Sustainability Institute (BOMESI), emphasized the necessity of equipping diverse media publishers with the tools and infrastructure needed to compete effectively in the marketplace. She pointed out that many independently owned media outlets, while mission-focused and adept at storytelling, lack the technological resources and measurement tools that advertisers seek.

She says: “Because we're mission-focused, we know how to tell a story. When you show up on our platforms, it's not just clickbait…We're not made for advertising. We're made for storytelling.”

However, Byng added, marketers often complain about dealing with many small publishers who lack the necessary tools and metrics. To address this, BOMESI created a collective offering a single point of contact and infrastructure support to help diverse-owned publishers thrive in the marketplace.

The role of agencies and clients in building capacity

Chief equity officer of dentsu Americas, Christena Pyle, addressed the critical role that advertising agencies and their clients play in building the capacity of diverse media. She notes that clients like General Motors and Unilever are increasingly demanding that their agencies invest in diverse-owned media.

“Our clients want to spend with diverse-owned media and want us to make that happen. So, we, as the agency, know what is good, and we know good is attached to growth. Beyond that, we know that if we help to build the capacity for your collective, we're going to be able to deliver those numbers for our clients. And it's good for everyone.”

Agencies, therefore, have a responsibility to support diverse media by providing the necessary infrastructure and resources. This support not only meets client demands but also fosters a more inclusive and representative media landscape.

The power of partnerships and collective efforts

To wrap up the panel, TripleLift’s Toccara Baker highlights the importance of partnerships among advertisers, agencies, and technology partners to support diverse media. She explains that collaboration is essential for providing the necessary resources and expertise: “All three really need to work together to help facilitate the support of diverse media. That’s the only way.”

By working together, these stakeholders can address the challenges faced by diverse media and create a more inclusive advertising ecosystem.