At this year’s Targeting Tomorrow, our annual thought-leadership conference, we explored the implications of living and operating in a post-digital world. Here, we cover the four key takeaways from the event.
“DIGITAL, AS A SPECIALISM, IS OBSOLETE”
Our industry is quickly transforming into one where all media and marketing IS digital; the silos of yesterday no longer exist. Just over ten years ago, the total digital media investments in the MENA region was less than USD $1 million; by 2017, this figure is expected to grow to $1.5 billion, representing over 30% of the total market. Therefore, organizing people around traditional media vs. digital media disciplines will give way to new dividing lines, such as organizing experts focused on manual media buying vs. programmatic or algorithm-based marketing disciplines. As more and more companies start to unlock the full value of the data they are sitting on, they will also begin to define their own data strategies that will one day compete with the likes of established platforms. In a post-digital world, brands will deploy their own ad tech and focus on liberating the treasure trove of data that they own. This will be key to achieving new levels of marketing effectiveness that rivals those of digital giants.
METRICS THAT MATTER
Ever since its introduction, marketers have questioned the reliability of measuring viewability. Though an industry standard is necessary to combat issues such as ad fraud, a true solution will only be reached from the collaboration of both publishers and advertisers. Publishers are working hard to provide better quality formats while advertisers continuously refine their strategies of how to measure success. Also, with so many great tools available to us today to analyze, activate, optimize and measure the effectiveness of an advertising campaign, the digital environment has become increasingly complex. As the technology stack grows, it opens us up to a host of new metrics. So how do we choose what to measure in this ever-evolving space? The simplest way is to collect all data, while only using metrics that really matter to your business.
UNLEASH THE POWER OF DATA
There’s no question that organizations sit on a massive treasure chest of data. There are also thousands of technology vendors that help you collect, store, analyze and activate this wealth of information. So adopting a modular approach is critical to making it work for your business. To ensure that you’re extracting the most value out of your data, you must first centralize it from various siloes into cloud storage. Then harmonize all this information using a Data Management Platform (DMP) like Omnicom Media Group MENA’s custom built platform, the Annalect Cloud, to give you a unified customer view. Your DMP then needs to be integrated with technologies that allow you to activate this data. This is where programmatic advertising allows you to reach the right people, at the right time, with the right message, at the right place.
PROGRAMMATIC DOES NOT EQUAL PERFORMANCE
However, it can be used to deliver conversions. There are still many misconceptions about programmatic and the first one that needs to be struck down is that it’s a line item on your plan. The approach to programmatic planning needs to change and brands must take a far more nuanced approach. Just because you can take a hyper-targeted approach doesn’t mean you should. Take Procter & Gamble, for example. They realized that by advertising at such a granular level, they eliminated consumers from new discovery and decided to change tactics. Therefore, a blended approach that focuses on tightly targeted audiences with lower cost reach and frequency line items, is the key to success. To get it right, you must identify multiple sources of demand (for example, hot leads, existing customers and potential customers), each with their own metric of success, and then formulate your plan around them.
THE IMPORTANCE OF EMBRACING SEO
We’ve already spoken in great detail about the importance of SEO to the online visibility of a business. However, only a very few brands in this region currently invest in it, despite the fact that it ensures incredible performance and ROI. Nevertheless, the discipline is moving well beyond just simple optimizations, becoming interlinked with inbound marketing. This is a form of non-interruptive online marketing that focuses on lead generation, lead nurturing and dealing one-on-one with customers at scale by connecting previously siloed online channels with SEO. To learn more on inbound marketing, read our latest white paper on the discipline.
At Resolution, we look forward to this post-digital world and are already taking steps to embrace it. Get in touch with us to learn more about its implications and how you can prepare your business for this new reality.