Consumer privacy is one of the greatest challenges facing our industry today, and a new paradigm of innovation and collaboration among smart technology companies, marketers, and media companies is essential. Understanding consumer behavior and their underlying mindset is key to creating better experiences that focus on building trust.
Here are some highlights and key takeaways from the 5G and Innovation Track at the 2020 IAB Annual Leadership Meeting (ALM):
The imminent death of third-party cookies has made it clear that what stands in the way of advancing our industry isn’t capability, it’s trust.
ALM 2020 took attendees to the highest of highs with consumer experience demos of the latest in AR and VR technologies, and expert panels and speakers, including Quibi’s CEO Meg Whitman, and Twitch CEO Emmett Shear presenting on the latest in entertainment technology.
ALM 2020 also painted a very real picture of our need to forge a common solution for the post-cookie evolution.
The juxtaposition at ALM of technological marvelments with the handwringing over the California Consumer Privacy Act (CCPA) and the imminent death of the third-party cookie made it clear that what stands in the way of advancing our industry isn’t capability, it’s trust. From IAB CEO Randall Rothenberg’s opening keynote about our need to harmonize personalization, privacy and community to General Motor’s Global CMO Deborah Wahl’s closing keynote talking about their goal to balance progress and humanity, there was a call to arms at ALM for our industry to strike the right balance between convenient and creepy for consumers, and deliver personalization without compromising trust.
Recognizing and respecting consumers as human beings is the first step in rebuilding consumer trust.
Whirlpool’s Christy Hoskins, and Michael Kahn of Digitas presented a case study on a campaign for KitchenAid where they customized ads served to be less intrusive when consumers were likely to be watching videos while cooking. This led to a higher lift in sales despite reduced ad exposure. This case study is indicative of a new paradigm in digital marketing that goes beyond the promise of right person, right time, and right message. It introduces a fourth dimension: right state.
There is a human being on the other side of the ad being served, and their receptivity to it requires more than exposure.
Seeing the consumer as a human, as opposed to a ‘user,’ permeated a number of topics at ALM. A panel on the power of voice with Janet Levine from Mindshare, and Priscilla Valls of Pandora, highlighted how personalizing your brand voice to your audience, in terms of language and terminology is key to differentiating and building a sonic identity. Similarly, in a panel on the future of measurement, Bret Leece from Havas, Ryan Moore from Quibi, and Chris Morgan from Moat, Oracle Data Cloud, talked about the need to go beyond impressions to measure the effectiveness of an ad. Facial recognition technology is now available to measure how an ad made a consumer feel based on their facial expressions after seeing the ad. In the same way we moved from impressions to engagement as a measure of effectiveness, I predict we’ll move from time spent to feelings elicited as a measure of ad effectiveness in the future.
As we rethink digital marketing in the post-cookie evolution, IAB priorities include research into what consumers want, identifying best practices and guidelines for consumer-friendly consent messaging, and investigating ways to give consumers more transparency in the value exchange. We hope you’ll join us.