With less than two months into the decade, advertising is once again entering a new phase of rapid expansion with customer experience at the forefront.
The explosion of data and identity management, combined with technical advancements in real-time signal detection and machine learning, offers new opportunities to respond to consumers, but mastering this capability allows marketers to marketing to create “magic moments” – instances of hyper-relevant content, delivered at the right time and in the right place.
We will see evolutions on the back-end in terms of delivery and measurement – as well as on the consumer side – thanks to creative new deployments that improve the physical shopping journey. Marketers will be held to a higher standard, both by customers demanding world-class performance and evidence, and by consumers seeking relevance, utility and privacy from their brand relationships. .
Achieving this balance will not be an easy task, but the most progressive marketers will successfully lead this industry into a more customer-centric future because they have taken steps to evolve before it’s too late. With that in mind, here are five ways we expect advertising to become more holistic in the 2020s:
Smart data will take priority over big data
Most marketers have heard the adage “Garbage in, garbage out”. For too long, the industry has relied on sheer quantity of data with no measure of quality to make key audience assumptions. This mentality has had a detrimental effect on our industry, creating an ecosystem where people hate ads and brands focus on visibility rather than ROI.
To truly understand our audiences, we must first transform data from cross-channel interactions into intelligent, actionable insights. This involves not only understanding who the customer is, but also what motivates them.
Progressive marketers will continue to invest heavily in identity graphics to tie critical data and behaviors to individual profiles across all channels. Using data science and machine learning, marketers will then be able to advance their consumer insights to new levels, using new messaging tactics based not only on value, but also on what inspires. the action. Key nuances, like distinguishing a business seeker from a value seeker, will lead to more engaging personalized experiences and ultimately better ROI for advertisers.
We will see a wave of investment in real-time engagement
We live in a world where our technology predicts where we are going, what we are looking for and how long it will take to get there by recognizing our daily habits and behaviors. The convenience and knowledge benefits are addictive. Look no further than email, social media, and Alexa to see how the real-time awareness and time savings of these interactions are impacting our daily lives.
For marketers, capturing that flash in a bottle has always been elusive – until now. The rise of real-time advertising, customer data platforms (CDPs), data science and machine learning has created the ability to detect purchases as well as location signals online and globally real in real time. This allows marketers to not only predict the next shopping trip, but also what a consumer is likely to buy, when it matters most.
These sense and respond capabilities will enable progressive marketers to create experiences of enormous value at the times that matter, like triggering a relevant offer at the entrance to a store or delivering a tailored experience at a moment and at a specific location. The new decade will see massive investment in these technologies given their immediate ability to influence consumers during the actual buying process. We’ll see budgets specifically cut to support real-time advertising and technologies as marketers optimize and convert users with greater efficiency.
For consumers, this means the in-store experience will continue to become more interactive, with mobile devices as the connection point between e-commerce and brick-and-mortar. Brands that thrive in this environment will win by delivering meaningful creative that connects the online and offline worlds in useful and relevant ways.