In the dynamic world of digital advertising, few individuals have made a mark as impressive as Mike Seiman, the CEO and Chairman of Digital Remedy. I should note that I’ve known him personally for over 20 years, and have seen the enormous growth of both himself and his company. I am truly honored to have seen it, and be able to share this story with you.
From its humble beginnings as a direct response affiliate ad network, Digital Remedy has evolved into a leading media buying platform, providing comprehensive solutions for marketers across various digital channels.
Seiman’s visionary leadership, combined with a culture of innovation and adaptability, has been instrumental in driving the company’s success.
In this in-depth feature, we delve into Seiman’s journey, explore the strategies employed by Digital Remedy to navigate the changing landscape, and uncover the exciting future of digital advertising.
From Direct Response to Media Buying: The Evolution of Digital Remedy
Digital Remedy’s transformation from a direct response ad network to a media buying platform is a testament to the company’s ability to adapt and innovate.
Seiman reflects on the early days of Digital Remedy, previously known as CPX Interactive, stating, “Our ability to create huge ROI and value by taking a risk on the cost of eyeballs and clicks vs the opportunity that was created in leads and sales set the foundation for our growth.”
The company’s success in the direct response space laid the groundwork for expansion into new areas.
Seiman explains, “Over the years, we pivoted and created tools for publishers, such as the bRealtime SSP, which we later sold. We also acquired the AdReady platform and built today’s incarnation of a Performance Marketing Partner.” This evolution showcases Digital Remedy’s commitment to building, activating, and optimizing media strategies that deliver the highest performance for both action-focused and brand-building advertisers.
Key Lessons Learned: Cash is King, ROI is Paramount, and Culture Drives Success
Seiman emphasizes several key lessons that have shaped Digital Remedy’s growth. “We learned that cash is king and always keep a solid balance sheet with proper DSO to DPO,” he states. Maintaining a healthy financial position has been crucial in navigating the ever-changing landscape of digital advertising.
Another vital lesson learned by Digital Remedy is the importance of ROI. Seiman highlights, “ROI is always important regardless of direct response or just the ROI of the right eyeballs.” By emphasizing the value generated by targeted advertising, Digital Remedy has been able to provide effective solutions for its clients.
Moreover, Seiman emphasizes the significance of fostering a positive company culture. “Having the right culture and treating employees with respect and valuing them creates the best businesses and value to your clients,” he says. Digital Remedy’s focus on building a supportive environment has contributed to its success in attracting top talent and driving innovation.
Seiman credits the success of Digital Remedy to its ability to anticipate and adapt to the changing landscape of digital advertising. “The best strategy we created was a culture of entrepreneurs and thinkers who believed in the growth of the business as well as the opportunities they could create for themselves by building right here at DR,” he explains. This entrepreneurial spirit has allowed Digital Remedy to think big and invest in sales, marketing, and product development, leading to significant expansion and international market presence.
Managing Campaigns across Digital Channels: A Holistic Approach
Digital Remedy takes pride in its ability to assist marketers in managing campaigns across various digital channels, including OTT (Over-The-Top) and CTV (Connected TV). Seiman emphasizes the company’s commitment to providing comprehensive support and tools to marketers. He states, “We make sure we handle every need they have, soup to nuts, to ensure they are taken care of every step of the way and are given all the tools and support they need to create the very best for themselves and their clients.”
Digital Remedy goes beyond simply managing campaigns; they focus on building full end-to-end strategies with activation capabilities and strong service from the first impression to the final performance reports. Seiman emphasizes the importance of finding the right mix of channels for each marketer, stating, “It’s less about just managing campaigns and really about building a full end-to-end strategy with activation capabilities and strong service from when the first impression fires to when the final insights and performance reports are delivered.”
Seiman acknowledges the existing gap between inexpensive base-level creative and expensive traditional TV creative. However, he believes that AI will play a crucial role in bridging this gap. He explains, “Just like with Dall-e and creative generation, AI will take over this channel in time, making it very simple to create a more middle ground video ad in many different formats to meet an abundance of needs for different audiences.” The decreasing costs of video production, combined with the potential of AI, are gradually diminishing the barrier of premium creative in video advertising.
Embracing CTV and OTT: Changing Perceptions
While hesitation regarding CTV and video advertising was once prevalent, Seiman highlights the shifting attitudes among marketers. He states, “What we are actually seeing now is an incredible hunger for CTV as marketers realize it’s a cost-effective way to deliver performance.” Marketers are increasingly recognizing the accountability and optimizability of CTV and OTT channels, making them more receptive to adopting these platforms. Seiman adds, “Traditional TV concerns have been around the inability to target, optimize, and understand what actually worked. Marketers are waking up and realizing these barriers have been torn down.”
Seiman firmly believes in the future of CTV and OTT advertising, citing their proven ability to drive ROI and measurable outcomes. He explains, “CTV/OTT can really create true ROI that can be measured. Who wouldn’t want to spend $1 and make $5?” Seiman has brought to light an incredibly successful campaign implemented by a sub shop, which utilized a highly effective method known as attribution modeling. This innovative technique allowed the sub shop to directly tie their marketing exposure to actual sales data, thus enabling them to optimize their advertisements in real-time.
This is a prime example of the tangible impact and profitability that can be achieved through the implementation of CTV/OTT advertising strategies. Clearly, this approach is highly effective and has the potential to revolutionize the way businesses approach their advertising efforts. By leveraging the power of attribution modeling, companies can now precisely track the results of their marketing campaigns and make adjustments in real-time, leading to a significant increase in ROI and overall success.
Empowering Marketers: Understanding Performance and Achieving Goals
In an increasingly competitive DTC (Direct-to-Consumer) space, marketers face pressure to prove the value of their campaigns. Digital Remedy plays a pivotal role in helping marketers understand campaign performance and achieve their goals. Seiman explains, “By utilizing our attribution methodologies and optimizing against them in real-time based on how clients create the modeling, we are able to drive significant value from the very first set of insights from their campaign data.” Digital Remedy is a top-notch platform that is equipped with the ability to optimize across various channels, providing marketers with a wide range of customizable attribution models that are tailored to meet their specific needs and requirements. By utilizing this cutting-edge technology, marketers can gain valuable insights into the performance of their campaigns and maximize their effectiveness.
With Digital Remedy’s advanced features, marketers can easily track and analyze their campaigns across different channels, enabling them to make informed decisions that lead to better results. This platform is an indispensable tool for any marketer who wants to stay ahead of the game and achieve optimal success in their campaigns.
Digital Remedy’s partnership with Dynata has provided valuable insights through a marketing-focused survey. While the full scope of the survey is not discussed, Seiman refers to the top priorities for DTC marketers that emerged from the survey. He explains, “Increasing brand awareness/consideration ranked highest, followed by sales growth/incremental sales growth, and audience targeting & personalization.” These priorities highlight the importance of building brand awareness, driving sales, and delivering personalized experiences to consumers.
Digital Remedy’s OTT Platform: Targeting, Buying, Optimizing, and Measuring OTT Campaigns
Digital Remedy’s OTT platform differentiates itself in various aspects of targeting, buying, optimizing, and measuring OTT campaigns. Seiman emphasizes the granular targeting capabilities the platform offers, stating, “We have as granular targeting capabilities as exist in the market today.” By establishing direct relationships with OTT/CTV providers, Digital Remedy can negotiate pricing, data access, and targeting options to provide clients with highly specific targeting capabilities.
Moreover, Digital Remedy’s attribution models and flexible conversion windows allow marketers to gain comprehensive insights into their campaign performance. Seiman explains, “Add our customizable attribution models and flexible conversion windows, and we can’t be beaten.” The platform empowers marketers to view and analyze attribution in a way that aligns with their specific goals and preferences, ensuring that they can optimize their campaigns effectively.
Performance CTV goes beyond focusing solely on video completion rates and instead directly connects with the performance outcomes that marketers prioritize. Seiman emphasizes the use of various conversion tactics and strategies, such as conversion pixels, foot traffic measurement, and QR codes, to create a comprehensive understanding of campaign performance.
Digital Remedy’s innovative approach enables marketers to gain a deeper understanding of the true value and impact of their OTT/CTV campaigns. By expanding beyond the traditional measurement of completion rates, marketers can now expound on the success of their campaigns and make data-driven decisions that drive real results.
Lessons Learned and Advice for Aspiring Leaders
Reflecting on his journey as a CEO, Seiman acknowledges the experiences and challenges that have shaped his growth as a leader. He credits hiring the right people to complement his own skills and learning from them as a key factor in his development. Additionally, he acknowledges the significance of trusting his gut instincts, stating, “The biggest mistakes were never going with my gut instincts soon enough.” His advice to aspiring CEOs and leaders is to trust their instincts, pursue what they believe in, and enjoy the journey rather than solely focusing on the destination.
Looking ahead, Seiman finds the continued growth of CTV and other premium channels combined with AI-driven optimization to be the most exciting and promising trends in the digital advertising industry. Marketers’ increasing interest in leveraging CTV for its performance-driven capabilities, along with advancements in AI-powered creative generation, opens up new possibilities for driving results and reaching diverse audiences. Seiman expresses optimism about the future of the industry and the opportunities it holds for innovation and growth.
As Mike Seiman leads Digital Remedy through the evolving landscape of digital advertising, his emphasis on performance, customized solutions, and the power of CTV/OTT channels positions the company at the forefront of the industry.
Digital Remedy is a company that truly embodies the entrepreneurial spirit, constantly seeking new ways to innovate and provide marketers with the tools and support they need to succeed in the digital advertising landscape. Their unwavering commitment to driving value and delivering measurable results has earned them a reputation as a trusted partner in the industry.
By staying ahead of the curve and adapting to the ever-changing digital landscape, Digital Remedy has become a force to be reckoned with, helping marketers achieve their goals and reach their target audiences with precision and ease. With their focus on innovation, creativity, and customer service, Digital Remedy is poised to continue leading the way in digital advertising for years to come.