Solution At a Glance
Challenge: A long-term strategy for building a scalable premium ad product business.
Solution: Build a team of designers who use the Flite Platform to create ad products in-house.
Benefit: Competitive ad products that command premium CPMs. Cost-savings through efficient ad design. Faster speed to market.
Mark Howard, SVP Digital Ad Strategy, was focused on reinvigorating Forbes’ digital advertising business. As with other established publications that have migrated to an online presence, Forbes sought to implement a long-term revenue strategy for their digital content.
Facing an increasingly competitive market of selling high-quality publisher inventory, coupled with industry-wide erosion of display ad performance, Mark recognized the necessity to become more efficient, cost-effective and to improve revenue with premium ad products.
The Forbes and Flite Partnership
Mark saw the need for a flexible solution that could empower a team of designers, not developers, to create truly differentiated ad products that command premium ad prices. He partnered with Flite to provide such a solution. The Flite Platform contained a full-featured Ad Studio where designers could easily build interactive and highly-engaging display ads without any programming knowledge. This meant the Forbes’ digital media team could bring the creative development process in-house, which would greatly reduce costs while still delivering high-impact ad products.
Building a Team of In-House Designers
Mark hired a team of designers who quickly became self-sufficient on the Flite Platform. They became proficient in creating interactive ad formats that drive engagement with contextually relevant content. Flite also made it easy to go beyond just building standard IAB ad units; his team could create custom ad formats without being restricted to any specific size, appearance or functionality.
“Our collaboration with Flite is allowing us to reduce the cost and complexities of delivering outstanding ad products to the market,” said Mark Howard. By adding a team of in-house designers who use Flite to build ads, Forbes attained three key benefits:
- A more effective process. Using Flite, Mark’s team can quickly prepare functional mockups customized to each prospect without major backend work, which helps their digital ad sales team present much more differentiated pitches in conversations with prospects. Because Forbes’ in-house design team is using Flite, their digital ad sales team has direct input into the development of its premium ad products, resulting in a more effective ad sales process.
- Greater control and faster turnaround. Forbes now has greater control over the ad design process, improving the speed to market. The Forbes in-house team is able to implement each ad campaign much faster. Instead of waiting weeks for an external group to develop an ad for a customer, they can design and build an ad themselves, and have it live on Forbes properties in a matter of days.
- Compelling campaign reports. Traditional campaign metrics like impressions and click-throughs are limited in their ability to tell the whole story. Flite’s real-time reporting tracks engagement, interactions, time on unit, video plays and more. Forbes can provide their advertisers with compelling campaign results and deep insights into audience interactions.
With Flite, Forbes has gained greater agility while reducing the costs and complexities of delivering ad products. They have established a lasting strategy for creating high-impact ad creatives that command premium CPMs.