Branded Content Distribution Platform – Covi
Everyone knows from experience that it is more efficient to approach the message that advertisers want to convey in the form of content rather than advertisements that simply inject. In particular, as the utilization rate of YouTube expands, companies have opened their own channels to produce contents containing the brand’s promotional contents, that is, branded contents, and expose them to prospective customers. Unfortunately, however, the performance is not meeting expectations. Looking at the views of the hard-produced video, I even feel terrible. I heard that a ‘branded content distribution platform’ has been released to help solve these concerns. The name is ‘Covi.’ I met CEO Park Myung-jin and talked with him with interest in this platform.
Exploration Progress_ Shin Yong-sung / Representative of Ibos
Hello, CEO Park Myung-jin. I came to visit you after hearing the news of the new platform. Please briefly introduce Kobe.
Park Myung-jin: Kobe is a “content network platform” that supports exposure in various media to increase the number of views of branded content produced by companies.
Questioner: The content here is mainly video content, right? Then, to put it more accurately, it can be called a ‘video content network platform’?
Park Myung-jin: Yes, you can look at it like that.
Questioner: So what media are you exposed to?
Park Myung-jin: We have partnerships with various media where video content is well represented and consumed to expose content. There are currently about 24 affiliates, including broadcasting companies such as KBS, YTN, and Yonhap News TV, as well as rock screen services such as Buzzville and Cash Slide, domestic premium digital magazine media, and various membership companies. The total UV intensity of these media is around 17 million.
Questioner: You said UV is about 17 million, but not all of them consume video content, right? What is the level of page view of the page with actual video content?
Park Myung-jin: Including those currently discussing new alliances or technology linkages, the inventory is also expected to double to about 50 affiliates and about 30 million UV within this year.
Questioner: The introduction says that targeting is supported by age, gender, category, time/day of the week, but in that case, is there a problem with the exposure volume because the parameters are too small?
Park Myung-jin: Since there is enough exposure, there is no issue with parameters unless it is precise targeting of the part you mentioned. In addition, we are planning to add the targeting of interests in September, and in the case of interests, if detailed targeting is narrow, there may be parameter issues, so we will recommend it as much as possible.
Questioner: How will you identify and target the user’s interests?
Myungjin Park : I am thinking of working with DMP. (Note : DMP refers to a service that supports processing various information of users with the Data Management Platform and using it for advertising targeting.)
Questioner: However, the reason why companies produce branded content is to increase brand awareness and intimacy. If so, it seems that the reach itself is more important than targeting, do you still think targeting is important?
Park Myung-jin: I also think reaching is more important in terms of advertising effectiveness. However, I still have the question of who to reach, so I think basic targeting is necessary. Also, from a business point of view, we support targeting because it is a function that advertisers want.
Questioner: The retargeting, detargeting, and sequencing parts are grayed out, does this mean that I’m not supporting them yet and I’m going to support them in the future?
Myungjin Park: Yes, that’s right. We are currently developing technology internally based on ADID and cookies, and we plan to support that part in September. When the development is completed, we will provide advanced customized targeting for campaigns such as retargeting and detargeting. In addition, these basic functions will be provided because it is important to measure reach and frequency for the video campaign purposes you mentioned earlier.
Questioner: So what is the way video content is exposed?
Myungjin Park : The keyword we are most focused on in the way video content is exposed is ‘content like’. We want to distribute it like a media company’s own content according to the purpose of branded content. So, we are providing technical support so that it can be applied equally to the UI/UX of media companies.
Questioner: Even if it’s branded content, it’s actually an advertising video, right? When it comes to advertising videos, isn’t it common to expose them in a more prominent form rather than a content like that is buried in the content to increase the cognitive effect?
Myung-jin Park : Existing video content was exposed in a form that interfered with the content of the medium, such as the form inserted in the middle of the article. Users are showing reluctance to this method and the effect is gradually decreasing. However, exposing only to brand channels lacks the opportunity to expose themselves, so we chose to expose them together with the content of media companies as a way to overcome both problems. For example, various video advertising platform operators have their own UX/UI and insert them intrasively by assigning specific areas of affiliates to them, whereas Kobe supports 100% of customized UX/UI that best fits the affiliate’s content page, so Kobe’s own UX/UI does not exist. We support users and affiliates to consume advertisers’ video content naturally as one of their contents.
Questionnaire: That’s the personality of Native Ad. Actually, when I tried to read articles from a media company on my mobile, I sometimes frowned at the scattered advertisements. Sometimes, I felt embarrassed when I watched it with my daughter because it was embarrassing to watch.
Park Myung-jin: Yes, that’s the strength of our advertisement, and we can guarantee Brand Safety from the brand’s point of view. If a brand is exposed in a place with high advertisement congestion, it can damage the image, so you don’t have to worry about that on the Kobe platform. (Maybe that’s why global brands are showing interest in the Kobe platform.)
Questioner: How is the cost charged? Is it CPM or CPV?
Myungjin Park : We are setting the cost as CPM. Currently, we are setting the cost as CPM 8,000 won, but we are holding it at 4,000 won as a launching promotion until October 31.
Questioner: If it’s CPM, isn’t it also charging to end without watching the actual video?
Myung-jin Park : Yes, you may have that concern, but you don’t have to worry. As it is exposed like content, the percentage of viewers who watch the video to the end is much higher than that of other media, so it is much more efficient to calculate CPV as a result. As a result of analyzing cases of various industries executed by COVI since its launch in May, it is showing very good efficiency in distributing branded content as content, not advertisements. In particular, in the case of 30-80 seconds long-second video content, the content distribution/spreading effect was verified more than 10 times higher based on 100% completion rate and unit price.
Questioner: Is the same CPM cost set for all advertisers regardless of the type of business? If so, how will the exposure ranking be determined between advertisers?
Myung-jin Park: Yes, the basic unit price is the same for all advertisers. But the standard of CPV will be different for all media, right? Therefore, we are operating the policy in a way that provides the unit price to advertisers in a cheap and simple way based on eCPM. And the exposure ranking is basically equally exposed according to the weight of the budget.
Questioner: So, is the ad report only provided with video exposure?
Myungjin Park : No, it is not. It provides not only simple exposure indicators but also various criteria of VIEW indicators. For example, it provides inquiry reports for each video playback section such as 3-second view and 15-second view. And it provides various report indicators to analyze the marketing effect of video content up to the landing click area. (Some indicators such as UV and Sequence are under development.)
Questioner: Then, how can I check the advertisement report? Do you provide it on request?
Myungjin Park: The reporting dashboard for advertisers, agencies, and rap companies is provided in real time, so you can check it right after you log in to your account. (We provide your account and login information when you complete the location setting.)
Questioner: I was also curious about the agency policy, but it seems that you are also operating an agency system. Are there any special restrictions on agency qualifications? Like the minimum amount of execution?
Myungjin Park : Yes, we are operating it. There are no restrictions on qualifications. The above CPM price includes the agency fee, so we are paying part of the above price to the agency.
Questioner: I wonder what kind of company “Covi Group” runs the Covi platform is that made you create these items.
Park Myung-jin: Kobe Group is a startup founded in February last year (2018) by members with experience in launching and successfully growing Incross Darwin and Pandora TV Prism businesses and expertise in video advertising and marketing.
Questioner: With your early experience with video platforms, you can create such a platform. But looking at the direction, it’s not the platform itself, but the entire “video marketing”?
Myungjin Park : Yes, in addition to COVI (Branded Content Distribution Platform), we are working to secure three Biz domains: COVIPIC (Video Content Planning/Production) and COVIME (Video Curation Media). In the second half of this year, we will establish COVIPIC and COVIME in earnest to become a group of video marketing experts who can present differentiated strategies to advertisers who want to communicate with customers through branded content.
Questioner: I think you have a great passion for video marketing. I think you are optimistic about the future of video marketing, what do you think?
Park Myung-jin: I don’t look at the future brightly when it comes to advertising in the current way. When you go to the brand’s YouTube channel, most videos have less than 1,000 views. On the other hand, videos that have achieved views through artificial forced advertisement exposure have 1 million to 10 million high views as much as they spent on them. This is because the strategy has been established in the video campaign by the existing advertisement exposure method rather than through content communication. However, even if you don’t spend a lot of advertisement money, you can see that the video that secures a high number of video views sometimes, and the characteristics of their videos show that the subject that you want to communicate with customers through content is inherent. In video marketing, I think that user-centered strategies are essential in line with changes in the media environment and that we should communicate together through content. Through the Content Distribution Platform (COVI), Planning/Production (COVIPIC), and Media (COVIME), COVIEW Group wants to work hard to suggest strategies so that more companies can communicate effectively with customers through video content.
Questioner: What should I do if people who read this trail want to use Kobe’s service?
Park Myung-jin: You can contact marketing@covi.co.kr . You can check the details through the covi.co.kr website and contact the inquiry board.
Questioner: Thank you for your sincere response to such a long and lengthy question. Lastly, as a video marketing company… Please leave anything you would like to say to an advertiser who wants to do video marketing.
Myung-jin Park : The market is only for YouTube. But not all of our customers are just watching YouTube. So, it would be better to have a more flexible perspective and develop strategies. Looking at the current video marketing strategy, I think it’s too uniform. We will help you by utilizing our platform and our experience and knowledge in video marketing. Thank you.
Source: Ibos COVI article ( https://www.i-boss.co.kr/ab-2877-3590 )
