L’Oréal has launched its Media Bets initiative, which involves partnering with a range of digital media partners, such as Google, to experiment with new ways to engage consumers. The move sees employees work through data in order to help create six-second advertisements for a video platform.
The partnership comes amidst news that consumers are less willing to engage with lengthy ads, and are now seeking shorter marketing teasers that will be able to keep their attention.
The new initiative is hoped to help both companies create shorter ads, which are specific to what consumers want to see.
Nadine McHugh, L’Oréal’s Senior Vice President of omni media, strategic investments and creative solutions, told Business Insider, “It’s super hard to get somebody’s attention. In this time challenged environment, advertisers have to think about a value exchange with consumers more than ever.”
Funded out of a special budget allocated to experimental activities, the Media Bets initiative is said to be the first level of collaboration in this category.
McHugh continued, “We have a Shark Tank-like pitch where we try to find partners that might be on the cusp, so we can do things that have never been done before by our brands,” she said. “It’s our version of future proofing.”