Last month, I got the opportunity to attend my first iMedia Agency Summit in Austin. After four days of speakers, table discussions, one-on-one meetings with media partners, several networking happy hours and one big night out on Rainey Street, I have put together a few key points from the conference:
USING DATA TO COMBINE ART AND SCIENCE
Our industry is chock full of data. It’s everywhere. And it is our job as the marketer to make sense of it and then in turn, drive successful campaigns. One of the larger themes of the conference was the idea of leveraging our current data to develop more effective creative. Aaron Fetters, one of the speakers from the conference from the Kellogg Company, said, “The incredible mass of data available today, when appropriately collected and analyzed, represents the science. However, unless this science better informs the art of world-class strategy, content, and execution development, we have fallen short.”
One of the good examples used throughout the conference was Netflix, who is continually collecting data from not only their users, but third party sources such as Nielsen. One successful outcome from utilizing this data was with the purchase of the “House of Cards” series, without even seeing a pilot episode. Netflix was able to pinpoint how successful the series would be based on the analyzation of their data.
Key Takeaway: Advertisers should utilize their first party data to make more informed decisions regarding not only creative, but what would resonate with their audience as a whole.
FINDING A PLACE FOR MOBILE
We as marketers have understood the importance of mobile for a while; the issue is finding where it fits. Many verticals, including retail, struggle using direct response dollars to fund mobile when the conversion rates just simply aren’t there. With the many sources of inventory and technology now out there, we must have a clear understanding of mobile partner inventories and capabilities before incorporating into a campaign.
Key Takeaway: As mobile device usage continues to grow, advertisers need to be informed about the limitations and opportunities within the space. When incorporating mobile into a media plan, consider the goals of the campaign and whether mobile is a good fit.
In a year where wearable devices have become more abundant, PMG taking part in this of course, we do not always realize that these are also a new data source. While these devices are not meant to be an advertising platform, over the next year, more conversations are going to be had on how to utilize this data for marketers. As this market continues to grow, it is our job to start understanding the value of these products and begin to question where these might fit within the industry.
Key Takeaway: The space of wearables continues to evolve and grow in popularity, and as advertisers, our challenge is to decide how we will be able to leverage this data and reach applicable consumers.