Podcast: The Private (Marketplace) Thoughts Of Chip Schenck

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Chip Schenck, Meredith’s VP of data and programmatic, wants to take care of his advertisers – specifically the brands that have been with the publisher of Allrecipes, Shape and Better Homes and Gardens for the long haul.

Among Meredith’s top clients over the last 100 years, he says in the latest episode of AdExchanger Talks, “97 of them are still going to be our clients [over the next 100].”

An unregulated open marketplace won’t necessarily serve them, he says. “Why are we using 4,400 other clients to screw those guys? We should be working with them in an integrated and strategic manner to help them understand how to win in our auction.”

To make that happen, Meredith uses private marketplaces (PMPs) to manage preferences for the most important brands, regardless of short-term yield.

“I sacrifice a lot of yield by not taking the best price in my PMP, but I’m ensuring that Kellogg’s, Target, Clorox or ConAgra are getting the people that they need,” he says. “How do we help them learn how to win in the auction, understand our audience, learn what performs, and do it in a way that’s economically feasible for them and for us?”

Also in this episode: The future of the open exchange, Meredith’s data honey pot and why the ad tech tax lives on (albeit with more transparency).

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