The IAB Data & Mobile Symposium, held on December 5 in New York City, brought together over 200+ industry leaders and executives from across the ecosystem to address how publishers and marketers are using data and technology to enhance the consumer advertising experience and achieve the trifecta of getting the right message to the right person at the right time. Speakers hailed from Boxed, Buzzfeed, IBM Watson Advertising, Meredith, Mindshare, Oath, The New York Times Company, Pandora, PepsiCo, UM and many more sharing their own insights on topics such as Data-driven Creative, The Ethics of Data & AI, Opt-In Value Exchange Advertising, Content Adjacency and Distribution, and How Data Fuels Podcast Growth to name a few These are the five core insights that came out of thought provoking discussions from the day.
- Data is growing and data-driven marketing is officially digital first
In a year filled with increased scrutiny, sweeping regulation & unanswered questions surrounding data, it proves no less important now than it was last year. It actually spurred on more investment in data management tech and infrastructure used to manage data. Spending on 3rd party data continues to grow and is expected to hit an all-time high of $19.2B by the end of 2018 (+17.5% vya), in support of advertising and marketing use cases alone. For the first time, the primary driver of this growth is digital.
- If you think data is just numbers… think again
We’ve moved beyond thinking about data as numbers and using it for targeting. Data can drive creative & messaging, inform media planning, and help brands develop new products. It’s critical to recognize that it isn’t just people’s data… it’s people themselves, the things they care about, it’s a person making a choice, human response categorized in a database. Used well, it can help brands convey a human side, connect and demonstrate to their customers that “we get you.”
- Providing True Consumer Value in Advertising Drives Authentic Attention & Engagement
Consumers are annoyed with ads; when the screen is small, this is exacerbated. Opt-in Value Exchange advertising, a format with roots in gaming that is quickly going mainstream, is increasingly being embraced as a solution that provides consumers real value – in the form of a publisher-delivered reward (e.g. such as 30 minutes of listening or viewing time ad-free) – and they prefer it. By giving consumers the choice to participate, marketers are able to circumvent key challenges with safety, fraud and transparency while driving authentic attention & engagement with their brand, along with an enhanced overall user experience. Seems like a no-brainer.
- Transparency and consent… the conversation continues
The transparency issue has led to the quality and perception of data being degraded. What data is being used? Where is it coming from? Do consumers really understand what they’re opting into? Who’s job is it to educate them? How do we simplify it for them? For better or worse, GDPR has forced us to wake up and pay attention to what we’re doing. It started the right conversation around transparency and consumer privacy and with CCPA on its heels, we’re still in the thick of it.
- In-housing programmatic can help ease some industry-wide brand concerns
It’s no surprise that we’re seeing brands increasingly in-house their programmatic capabilities. With the challenges regarding transparency and privacy, in-housing programmatic helps brands gain better control and management of their data and targeting, and allows them to more proactively monitor for brand safe environments and have a line of sight into where and when their ads run – among other things.