Doing is Believing.

Doing is BelievingOne thing that’s certain about this business of ours: everyone is so damn smart. No matter your personal opinion or experience with just about anyone in digital marketing, the first thing you’ll say is “Well….he’s really smart….but….” Smart is to the digital ad world what blond is to Scandinavia. It’s certainly a high class problem, but there is one big downside. We tend to over-think, over-analyze and over-talk just about everything.

In recent months I’ve been coaching managers at many leading companies in our space and they describe very common – and frustrating – interactions with their team members. When they take the time (as good managers do) to really connect with and listen to their sellers and other staff it can get messy really fast. Employees (they’re really smart, remember?) want to discuss and debate all the history and fine points behind decision and policies. They want to feel heard on the minute details on the difficulty and danger of their accounts lists. They want to open up long closed issues and directions. And the well-meaning, evolved, new-age manager ends up spending a lot of time and energy trying to manage how her reps feel and what they believe.

There’s a better way.

This week’s Drift is proudly underwritten by PubMatic, who provides a Marketing Automation Platform for Publishers (MAPP).  It empowers publishers with a single view into their advertiser relationships, across every screen, channel and format.  Through workflow automation, real-time analytics and yield management, PubMatic enables publishers to make smarter, faster decisions that drive revenue and streamline operations. To learn more, please click here.

Yes, people in sales organizations want to feel heard. And they may think they want their hands on the levers of policy and management – right up till the day they actually own them and ask “…and why did I want this?” But what they really thrive on is clarity. They want to know their management and leadership is taking in good information (including theirs) and then they want a decisive manager to say “this is where we’re going and here are the guidelines on getting there.” And then she says no more.

Hear the voices of your team members but don’t let them turn you into a weathervane that changes direction with the wind. Empathize and identify with the lives and aspirations of your employees, but don’t become their career grief counselor. Above all, shift your focus from what your people think and believe to what they do. With every interaction, have a list of specific measurable actions for the employee(s) to take. And be ready to say: “I understand your position…what is it specifically that you’d like to see me do right now?

We can hold salespeople and ourselves accountable for discrete actions. Actions breed a culture of clarity and consistency. Take enough steps and you have direction. You can’t manage or control what’s in someone’s head…only what they do. So shut down the endless cycle of reflection and debate and start getting stuff done. You’ll be amazed at how much better everyone ends up feeling.

The Real Deal.

LEVIS RED TAG 550 JEANSOver the last decade the digital marketing business has lived through a personality crisis. On the one hand there’s the relentless march of programmatic automation. On the other, native advertising — or sponsored content or branded entertainment or whatever else we’re calling the opposite of commoditization. Throughout this whole tedious game of semantic Twister, we’ve ignored the quality we should all be striving to embody; a quality that strengthens customer commitment, forges employee loyalty and gets us all closer to purpose-driven business marketing.

The quality – and the word – we’ve been grasping for is authenticity.

This week’s Drift is proudly underwritten by PubMatic, who provides a Marketing Automation Platform for Publishers (MAPP).  It empowers publishers with a single view into their advertiser relationships, across every screen, channel and format.  Through workflow automation, real-time analytics and yield management, PubMatic enables publishers to make smarter, faster decisions that drive revenue and streamline operations. To learn more, please click here.

What we all do for a living may remain ridiculously complicated, but the answer may be just this simple. What consumers want from their bourbon, their coffee houses, their granola and their politicians – authenticity – may be exactly what marketers and agencies and publishers desperately crave in our world.

Whether you make blue jeans or offer DMP services, being authentic doesn’t mean that you’re the only one who makes what you make or does what you do. It means being clear and open about your process, your motivations, your beliefs. No matter how right or left brain your company is, there is something authentic and genuine about how you build your product or deliver your service; why you’re in business at all; and in what you believe as a company. Or at least there should be.

Look at two of the world’s most powerful technology companies – Apple and Google. Despite hugely complicated technology stacks and a sometimes confusing morass of products (most of which, in the case of Apple, are mass produced overseas), both companies still seem authentic to the customer. “Don’t’ Be Evil.” “Think Different.” “Designed by Apple in California.” Should any of our companies aim for less?

The thing about authenticity is that you can’t outsource it. Too often the world-class engineers who invented your product or the visionary CEO who got the company funded simply hand off the job to the marketing professionals, the copywriters or the ad agency. Too often those who sell to and service our customers are given talking points or white papers and left to fend for themselves.

Authentic isn’t what you say. It’s who you are. So who are you, then?

Six Questions for Mitch Weinstein.

Six Questions for Mitch WeinsteinAlong with Angelina Eng of Merkle and Mindshare’s Jon Hsia, Mitch Weinstein of IPG Mediabrands and Magna Global will be taking part in a thoughtful and compelling discussion on viewability at Seller Forum tomorrow in New York. The event’s been sold out for some time, but here you can read some of Mitch’s thoughts and perhaps expand your own views on the issue.

Mitch, you’re deeply involved in the viewability discussion.  Is it really all that contentious or does it just look that way online?

I wouldn’t say it’s contentious. But rather it’s an important conversation we are having with media partners, where we all have the same goals and are trying to get to the same place – better quality inventory for all of digital media.  The bottom line is we are looking to achieve the highest level of success for our clients, and the only way we can do this is by working together …it’s just that in some cases we have different ideas of the timing involved.  But overall, we’re making very good progress.

If you were explaining the ruckus to your 85-year-old aunt at a family gathering, how might you sum it up?

“You know those ads you see on the internet? No, not those annoying pop-up ads – we haven’t run those since 1999…the ads that show up next to news articles and content, and sometimes run before those YouTube cooking videos you like….Well, we only want to pay websites when those ads are seen, and we don’t want to pay for the ads that are hidden in the areas of the screen you never visit. Makes sense, right?  Pass the Jello mold.”

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

One thing everyone seems to agree on is that guaranteeing 100% viewability on a given campaign is, for now, technically impossible.  True?

Completely False.  If a publisher can guarantee that 70% of the impressions we’re buying are viewable, why can’t they simply guarantee that all of my impressions will be viewable?  They can sell us fewer impressions – that’s ok. But what they sell us has to be viewable.  Publishers will have to recalibrate how they sell, and start including only what they know they can deliver as viewable on each IO. This shouldn’t be a problem if the publisher has been doing their due diligence and testing with different viewability vendors on all of their inventory. 3MS (Making Measurement Make Sense) was launched in 2011, so there has been ample time to test. Overall, it’s a shift in mindset and process more than it is a technical issue.

So does it come down to just paying for the impressions that are viewable?  That seems simple, right?

Yes, that’s exactly it.  We completely understand that not every impression will be viewable, totally get that. However, we only want to pay for those impressions that are viewable.  And by the way, we will rely on your chosen measurement vendor to tell us what is viewable and what is not, which will eliminate the entire issue of discrepancies. That should make things easier….

We don’t want this whole interview to be just about one issue.  What else is obsessing you these days?

We are focusing heavily on dynamic ad serving, and using external triggers (e.g. weather) to determine which version of an ad to run. Basically, a customized message each time the ad serves. It’s a straightforward concept, but very complex to deliver effectively since it involves a combination of efforts between media, creative, ad tech, analytics, and data. But it’s proven to be very effective in driving performance, so we are devoting a lot of resources to it.

 Fill in the blank:  “If media sellers only understood _____ they’d end up doing a lot more business with agencies like mine.”

“…how important good quality, brand-safe, viewable inventory is to our clients”

 

Viewability, Made Clear.

Viewability Made ClearAt the upcoming Seller Forum on March 12th, I’ll be moderating a thoughtful and – hopefully – productive discussion on the latest thorny issue in our digital greenhouse: ad viewability. Over 50 senior sales leaders will be in the room, and this particular discussion will feature three key stakeholders from the agency world – Mitch Weinstein of IPG Mediabrands, Merkle’s Angelina Eng, and Jon Hsia from Mindshare. The pithy headline of this post notwithstanding, we all know there are no simple answers on viewability. But we can and should be sure we’re asking the right questions. Here are the questions that I think will move us to a better place.

Who wants to be the last one defending the idea that an advertiser should pay for an ad that has no chance of being seen? I don’t think I’ll get any takers on this. So let’s assume that we all agree on a common destination where the currency we exchange is based on viewable ads.

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

What are the true motivations that drive the positions that clients, agencies, publishers and others have taken in this discussion? If we answer with words like greed, laziness, stupidity or arrogance, we’re guaranteeing that we’ll end up making bad decisions en route to bad policies. Underestimating or oversimplifying motivations in a complex negotiation is a tragic mistake.

Do we all really understand the words we’re using? What’s measurable is a subset of what’s served. What’s viewable is a subset of what’s measurable. It’s complex even for those in the thick of it. Before we rush into the technical minutiae or defend our various positions, what might happen if we took the time to say: “Tell me exactly what you mean by that term? I want to be sure I understand.”

Might there be a better way to optimize publisher business outcomes? Our assumptions have always been based on volume. More pages. More ad calls. More streams. In the rush to more, we’ve settled for less. Less quality. Less control. Less trust. We’ve tried building strategies around abundance: should we give scarcity a shot?

Does anyone not think that 17 different “accredited” viewability solutions is too many?   It’s possible that there’s a great new option out there – a fresh idea that nobody’s considered – but I think we have to consider whether the cost of further iterative innovation outweighs the benefit of just settling on one set of referees. TV decided on who would provide ratings 40 years ago, and I think they’ve done relatively OK.

Who benefits if nothing changes? I’m trying to imagine a legitimate marketer, agency, publisher, creative producer or additive technology whose positive future is tied to “more of the same.” There is going to be short term pain and a rethinking of financial expectations all around in the meantime. But maybe it’s time to realize that the only “wrong” choice is no choice at all.

There are just 3 seats left for The Seller Forum.  If you are a qualified national media sales leader and want to be part of this discussion, reach back to us today. 

Six Questions for Terry Kawaja

Six Questions for Terry KawajaLUMAscape architect and dynamic investment banker Terry Kawaja is joining us at The Seller Forum on March 12th to talk about the consolidating video marketing world. To prep for his talk at the Forum, six questions:

 Is the Video LUMAscape starting to significantly consolidate? Some examples please.

We’ve seen 29 transactions across the Video LUMAscape just in the last 18 months starting with Aol/Adap.tv. These transactions range from content plays (e.g. Disney / Maker, Amazon / Twitch and AT&T / Fullscreen) to monetization platforms (e.g. Comcast / FreeWheel, Facebook / LiveRail and Yahoo / BrightRoll). These deals are reflective of the continued growth in digital video but also the coming convergent TV sector.

 Do all those YouTube videos help Google run the table and own web and mobile video or is there hope for others?

Video does not quite have the same network/scale advantages of search so it should proliferate to all publishers. YouTube ‘s strong position (nearly 40% of all video views in 2013) has new competitors (Facebook, Amazon, Vessel) and we will likely see the viewership splinter over time.

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

 What’s surprised you most in the video picture of the last 12 months?

The pace of Facebook’s growth has been staggering and surprising: in October 2014, Facebook actually saw more video views that YouTube. YouTube is more akin to a portal (and people don’t navigate to portals) whereas Facebook’s video discovery is in the feed and shared socially. This will be interesting to watch.

I’ve heard that those crazy young people are streaming their favorite shows over the web now. Are we going to show them commercials like we do on the web or like we do on regular old TV?

The TV ad experience and inherent value proposition is based on interruption. Viewers put up with (or ignore) ads in return for their desired content. I believe that this value proposition has to change in a mobile context and that may threaten the mobile video pre roll or interstitial. Ad creative has to be better (a good thing) and the value proposition may need to change to facilitation, not interruption.

 Deal that looked big but wasn’t? And under the radar deal that’s really significant?

So far the $45 billion Comcast / TWC deal looks threatened. I mused that Comcast could have used the same $45 billion to instead buy a basket of tech unicorn startups that included Uber, Dropbox, Snapchat and Box. One year later, the TWC deal has gone nowhere and the basket is now worth over double! I think the Telstra / Ooyala deal, while under the radar, is interesting because it represents a new entrant buyer (in this case, a monopoly foreign telco) that has set its growth sights on digital video and has more deals to come.

When you did your cameo on Mad Men was Jon Hamm nice to you?

Unlike the character he plays, it turns out Jon Hamm is a super nice guy. He treated the cast and crew very well.

There are just 15 open seats left for The Seller Forum on March 12th in New York.  If you lead a national media sales team, you won’t want to miss key insights on video, viewability, talent, first half outlook and more.  Request your invitation today.

 

The Trading Desk is Dead: Long Live the Trade!

The Trading Desk is DeadThe great thing about writing 500 words about our business every week is that occasionally you end up looking smart in hindsight. Even a blind squirrel finds an acorn every now and then. Last Friday afternoon – as most of us had already started bugging out for the long holiday weekend – Publicis quietly pulled the plug on programmatic buying at Vivaki.   In an October 2013 post (“Letting Go of the Tiger’s Ears”) I wrote…

…I believe the agencies …did themselves a huge disservice by playing out of position over the last 4-5 years in the run up to “the programmatic age.”…First, there was the decision to create standalone business units in the first place. Might it not have been better to let a thousand flowers of automated trading bloom within the daughter agencies rather than concentrate it all at the holding company level? Perhaps they missed the chance to strengthen ALL the pillars of their business rather than devoting so much time and effort to explain yet another corporate brand and operating model to increasingly skeptical clients?

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

I’m certainly not the only one to predict the demise of the holding company trading desk model: I said as much in that 2013 post:

“….I’ve heard people stand up at conferences and say that the holding company level trading desks will go away within a couple of years; that they’ll be replaced by client side operations (like P&G’s Hawkeye) and by a migration of programmatic bidding to the individual media agency level. Such a monolithic assessment is almost surely going to be right and wrong at the same time. These are wildly different businesses who are making different decisions. For one thing, there’s a lot of work ahead helping clients manage the nuanced business and buying decisions within private marketplaces.”

So now as we edge into 2015 the land grab abates and the real work of programmatic has begun in earnest: figuring out complex private marketplaces and programmatic direct deals and determining how programmatic lives symbiotically alongside the high margin native, branded content and video advertising. This is not work to be done in a silo by a handful of holding company execs. There’s plenty here for all of us to do.

There are fewer than 20 open seats left for The Seller Forum on March 12th in New York.  If you lead a national media sales team, you won’t want to miss key insights on video, viewability, talent, first half outlook and more.  Request your invitation today.

The Great Ones.

The Great Ones.On Sunday night I had the honor of speaking on opening night of the IAB Annual Leadership Meeting in Scottsdale about the future of digital media sales. After addressing ‘the big lie’ that hangs over our business – that the growth of programmatic buying would somehow drastically reduce or eliminate the need for sales executives – I talked about how the nature of selling would indeed change, and what kind of sellers would be called for in the complex and rewarding days ahead.

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

Transactional buying and selling – trading standard ad units for dollars – is the rust belt of the media landscape, and those jobs ain’t coming back. In fact, those jobs really aren’t about selling at all. The real sellers – the great ones – are already working on a much different level, we have the working template for the Greatest Generation of Digital Sellers:

  1. They are marketing-oriented, not advertising driven. They look at the picture through a much wider aperture.
  2. They organize their work around multi-product, integrated solutions – not around response to late stage, single product RFPs.
  3. They operate “left of budget” and create urgency by working backward from the unsolved marketing problem.
  4. They are patient and thorough in navigating complexity.
  5. They are enterprise sellers, not point solution vendors.

Spend ten minutes watching the embedded video of my talk and share your own thoughts. If you’re an individual contributor, how do you measure up the five qualities above? If you lead a team, how many of your current sellers fit this rubric? More importantly, what are you doing to support and retain them?

The Greatest Generation of Digital Sellers is not a foregone conclusion. It’s something we have to imagine and commit to.   To paraphrase William Gibson, bits of that future are already here; they’re just unevenly distributed.

We’ve just added Mitch Weinstein from IPG Mediabrands as part of an important discussion of viewability at Seller Forum on March 12th. We’ll be discussing video, talent, policies, financial outlook and more. If you lead a team that sells media, you need to be there.  Request your invitation today.

Lies My CEO Told Me.

Lies my CEO Told MeWhen the announcement came down last week that Aol was eliminating 150 sales jobs and consolidating several brands I immediately got a half-dozen emails and calls asking the same question: “Did programmatic technology eliminate these jobs?” The answer Wall Street would like to hear is “yes.” The real answer, I believe, is “no.” As the old backwoods philosophy goes, “Just because your cat has kittens in the oven don’t make ‘em biscuits.” (Translation: Things are not as simple as they seem.)

I believe Aol confronted some core business issues – redundancy of brands, participation in spaces where they couldn’t lead, creeping bureaucracy – by taking swift and decisive action. Investors should reward them for that alone. But if Wall Street wants to infer that a grand automation plan made it all happen… Tim Armstrong might just be saying “Well that was a freebie.”

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

Just as there are two kinds of history that get taught in our country – high school textbook history and real, academically reviewed history – there are two levels of ‘truth’ in our world: the truth that the CEO is forced to tell the investors and markets and the truth about how the business really runs. Your CEO isn’t a liar and he or she doesn’t mean any harm: it’s just a case of dynamic messaging based on audience. Here are a few of the little white lies they have to tell from time to time.

“The technology will sell itself.” Maybe if it was 25 years ago and a small handful of tech giants roamed the earth and ate all the food. But even the best technological leap will have a hell of a time even being noticed in the cacophony of today’s crowded marketplace.

“Media sales is a transitional business for us.” Saying ‘we’re just going to sell ads for a while’ is like saying ‘we’re just sending a few advisors to Vietnam.’ You either commit to the core of your technology business or commit to being a player in the media sales game. Doing neither means half-assing them both.

“Programmatic will eliminate the need for a sales team.” If you “set it and forget it” you will get the results you deserve. And if you have no more imagination than this about how great sellers could create value and margin for your business, then programmatic will likely eliminate the need for the current CEO. Programmatic is real, it’s vitally important, and it’s part of a balanced revenue diet. But it won’t run itself and it won’t create the kind of margin that your high growth business needs.

“We’ll get there in 12-18 Months.” It’s always going to be harder, take longer and require more money and resources than the business plan assumes. Don’t buy into the projection; buy into the quality of the leadership.

The next time you hear your CEO speaking in code like this to the markets, fear not: he probably knows the real truth and will run your business accordingly. If not, you may want to forward him this post.

We’ve just added Terry Kawaja, creator of the LUMAscape, to our discussion of the digital video landscape at Seller Forum on March 12th.  If you lead a team that sells media, you need to be there.  Request your invitation today.

Selling the Exception.

Selling the ExceptionPeople in the business ask me all the time about my position in The Great Debate on Viewability. Truth is, I don’t have one. That doesn’t mean I don’t think it’s important; it most certainly is. But it’s important in the way that long term inflation or interest rates or derivative trading laws are important. Companies and experts will engage in long-term trench warfare over the issue, eventually coming up with a set of compromises. But in the meantime, the rest of us have to make a living.

If you suddenly find that your dollars only buy one bag of groceries instead of two, you don’t argue with the supermarket cashier about the value of the currency. He can’t help you with that. You’re also not going to get very far if you offer to pay instead in Euros or to barter some live chickens. No, you’ve either got to accept the current rules and currency of the transaction or find someone who can grant you an exception or agree to a different kind of currency.

Does your quality inventory stand out in programmatic? Are you getting full value for those impressions? Programmatic has a trust issue, and comScore has the solution. comScore Industry Trust is a multi-phase initiative designed to enable trusted programmatic transactions of quality advertising between buyers and sellers. Learn more today.

The great sellers and sales organizations are the ones who are doing just this: carving out exceptions to current buying policies and metrics or getting the customer to trade in a different currency or at a higher rate. They’re not wasting time arguing at the cash register. The media planning team can’t help you: they are either stuck with the same policies and exchange rates that you are, or are using those policies as a convenient cover for a buying decision they just don’t want to make with you anyway. You think your inventory or services are worth a premium? Or that you should be valued based on engagement levels or social interaction instead of impressions and clicks? The bank teller can only shrug sympathetically or close the window on you. (Oh, by the way…that bank teller is about to be replaced by a programmatic ATM.)

If you’re a seller or manager who’s wringing your hands over issues like viewability or the ROI metrics you’re seeing in RFPs, you’re wasting valuable time and energy. The job now is selling the exception, getting a carve-out for your offering. You won’t get it if you only spend time at the point of transaction. You’ve got to find clients, agency management and others who can consider your ideas way before the budget is formed, the rules are imposed and the RFP is sent to you and 150 of your closest friends.

I work with thousands of sellers and dozens of companies every year. This kind of creative, enterprise sale get executed every day. Great sellers and great companies are having these conversations all the time. Why aren’t you?

You might have noticed that The Drift has a new look. You may also be interested in the remodeling we’ve done back at our company site. Have a look and tell us what you think.

Strategy, 101.

Strategy 101Somewhere out there, early on a January morning, a seller has already been awake for hours. He’s staring at a number – his sales goal for the next several months. His company has a solid product, not a dominant one.

His managers try to motivate and support, but only being a year or two in management themselves they can tell him to ‘be more strategic’ but can’t really tell him how. Here’s how.

Triage. What are the factors that make one prospect more likely than another to become a customer? Are they cranking up spending this quarter? Do you have even one ‘truth teller’ at the agency or client who could give you the straight story? Do their preferred metrics and buying style align at all with your offerings? Have they been a customer before? If you answer yes to all or most of these questions, these are your focus accounts – your A’s. All no’s? It’s a C; drop it. Mixed results? It’s a B, so set it aside for work later.

We’ll be hosting the first Seller Forum of 2015 – featuring special video content – on Wednesday night March 11th and Thursday March 12th in New York. If you’re a CRO, EVP, SVP or VP of sales with national, North American or global responsibility, you need to be in that room. We’ll have a heavy focus on all things video this time, with plenty of other great content and discussion around industry news, financial visibility and lots more. Request your invitation today.

Decide What You Control. It’s easy to waste time lamenting what you don’t have, what a competitor might be doing, or how bad the decision making is at the agency. Instead, inventory those things you can control. They are: (1) your intent – are you really out to do a great job for the customer? (2) your POV on the customer’s business situation – not just what you know but what you think is important; (3) the agenda for your meetings – a good answer for “why are we here today?” (Hint: if it’s about ‘updating’ the customer, ‘introducing them’ to your product or ‘learning more’ about their challenges, you will lose); (4) the quality of your recommendation; stop with the big capabilities deck; nobody cares. Decide what combination of products and services will help this client at this moment in time. If you tell ‘em everything, you’re telling ‘em nothing.

Start in the Middle. In between the CMO and the media planning team, there are a lot of people who can help you: account owners at the agency… strategic planning… group VPs… functional specialists at the client. Put away your pitch for a while and start teeing up honest conversations and email exchanges with these people.

Ask Better Questions. Ask questions customers can say “no” to. Will you buy from me? Do we have your commitment? Do we really have a chance here? Hope is too often the opposite of clarity. What you want to constantly be asking is Where do we really stand? and What can we do to keep moving forward?

Stop Waiting. If things are not closing because you’re constantly waiting on something – a product feature, a call back, a change in the budgeting process – then you’re not making a difference.  You can wait till things calm down, till you get through your inbox, till the weather changes. Or you can simply act. Take chances, try one new thing each day. Ask forgiveness, not permission.

It may turn out that the one you’ve been waiting for is you.

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