Paul Silver is currently the Chief Strategy Officer at Media iQ, global, real-time trading specialists, powered by advanced predictive analytics, designed to drive ROI and deeper insights. Prior to Media iQ, Silver ran his own ad tech consultancy, and moved to Media iQ for a greater challenge. The Makegood recently spoke with Silver about the company’s recently being awarded Best Digital Trading Team.
The Makegood: Congratulations on Media iQ’s winning “Best Digital Trading Team” at the Digital Trading Awards. What did winning this award mean for the digital team at Media iQ?
Winning this award was a great validation of both our processes and principles; that we’re building the business the right way and making the right choices when it comes to the development of valued added features, product and services.
It is also extremely gratifying for our entire team; being voted the best by your industry peers is something to take a lot of pride in.
The Makegood: After earning this award, what goals does the company plan on setting for the future? Are there aspirations for more growth internationally?
The outcome of the award does not impact the business road map. We’re still focused on further cementing and growing our position in Europe, whilst also continuing to significantly scale in North America.
North America is still pretty new for us as a business and we’re steadily learning what it takes to compete, how to deliver our point of difference and continue the success we are experiencing. Being an industry-recognised leader in trading should certainly help us, but we are under no illusion that it’s results that contribute to success. Fortunately for us, we’re results driven business who have consistently delivered for clients over the last 3 1/2 years.
Aside from international growth, our R&D and Engineering road map is very exciting. Applying advanced analytics solutions to multi-screen, multi-device challenges is where a lot of our investment is currently directed. We have a deep bench of talent to make this happen and the fact we are solving the same challenges that larger competitors have, with zero external investment, is a great source of motivation and highly rewarding.
The Makegood: How does Media iQ’s digital trading team differ from the other contestants in The Digital Trading Awards? Was it the team, the technology, the strategy, or a combination that helped earn the award?
To be a leader in real time trading requires a solid infrastructure consisting of technology, analytics, trading, strategy and most importantly, people. We’ve built a successful business that unites these different functions and values them equally.
We operate across multiple verticals, where each touch point of the business remains transparent to the client. Media iQ is a business that thrives on pushing the existing industry boundaries. I believe it is our relentless passion and drive to innovate, which has also helped secure our position in the industry.
The Makegood: Media iQ calls themselves “Next Generation Performance Traders”. Could you elaborate on what this means, and how this may have helped win the award?
The way we frame our business is that, to be leaders in performance based trading requires the ability to use data more intelligently in order to make better decisions. This is the premise of our entire business. But it is the way we deliver this which sets us apart.
The ability to deliver ROI is now a table stake standard requirement of a business operating in this segment. Next generation for us does not simply mean the ‘what’, but now means the ‘how’ and ‘why’. Black-box solution businesses, we feel have a short shelf life. Operating on the principles of openness and transparency are not just guiding cultural principles at MEDIA iQ, they’re behaviors which really should be best practice and a required standard.
Transparency and collaboration is pivotal, whether it is showing how your technology stack is assembled: how you are ingesting data; structuring data; processing data; modelling data. Whether it is your analytical functions: how do you build better classification algorithms; propensity models; user scoring systems; how do you apply this intelligence to trading. These are questions that we pro-actively seek to answer and share with our clients. I believe it is this level of transparency that has helped our business to grow.
The Makegood: How has Media iQ helped its clients in delivering the right message to the relevant audience? What is Media iQ’s approach to this delivery?
Understanding users on a much deeper level leads to creating better opportunities to engage and influence. Not only do we invest heavily in the acquisition of data and the infrastructure to support that, but we also invest heavily in the ability to better cluster users with advanced user segmentation algorithms. Once you step beyond the comfort of first party data, the ability to deliver relevance to prospects becomes much more of a challenge. We realised a long time ago that investing in advanced analytics on a user level versus event-based analysis would enable us to continue to deliver more relevance. But it isn’t just confined to user level decision-making.
We’re one of the only businesses to actively connect what we call ‘macro’ data sources to our real time modifying engine; obvious examples being the Weather; but less obvious examples are amending buying decisions based on your brand’s and competitor’s TV scheduling, brand & competitor social sentiment scores. The ability to trigger buying decisions based on macro level data sources really resonates in North America; it helps it become a much more integrated component in the broader planning and buying strategy.
The Makegood: Thank you, Paul.