This year, all players in the social ad game should be thinking big. 2012 was a breakout year for social advertising. Brands from all verticals emerged to play the social ad game, with some clear winners emerging. But what are the major trends for 2013?
A Conversation with David Spitz
When it comes to the role of the agency in data-driven digital media, few holding companies have put their money where their mouth is to the extent that WPP Digital has. After setting the tone with a bold acquisition of 24/7 Real Media, the holding company has gone on to place strategic bets on a variety of sectors within the Kawaja map. The question for marketers is whether or not they should be relying upon their agencies when it comes to technology and data. Many argue that the agency model cannot support the type of deep domain expertise needed for the complicated integrations, data science, and modeling that has become an everyday issue in modern marketing. So, should data management be the sole province of the Adobes and IBMs of the world, or is there room for agencies to play? I recently reached out to EVP of Strategy and Corporate Development David Spitz to ask about how he sees agencies working with large brands to define their data strategy.
WPP is working with some of the world’s largest brands. I suspect that many have siloed pockets of valuable data across their enterprises. What are the data challenges... Read more
A Conversation with Bridget Bidlack of [x+1]
Today, data is like water: Free-flowing, highly available, and pervasive. As the cost of storing and collecting data decreases, more of it becomes available to marketers looking to optimize the way they acquire new customers and activate existing ones. In the right hands, data can be the key to understanding audiences, developing the right marketing messages, optimizing campaigns, and creating long-term customers. In the wrong hands, data can contribute to distraction, poor decision-making, and customer alienation. In order to combat that problem, there are now over a dozen data management platforms (DMPs) configured to help marketers and publishers leverage their first party data, and take advantage of the growing universe of 3rd party data. I recently sat down with a DMP veteran, Bridget Bidlack, to ask how one should approach choosing a platform.
To the unpracticed eye, it seems like many DMPs do exactly the same things. What are some of the subtleties and differences between the major platforms?
Bridget Bidlack (BB): It’s true that, to someone unfamiliar with the technology, the differences may seem subtle, but that’s often the case no matter what you are discussing. I recently came across a catalog that... Read more
Following on the heels of “develop our social media strategy” and “develop our model for social media ROI”, the latest critical “to-do” item for digital marketing teams is “utilize big data”.
Like the two prior objectives mentioned above, digital marketing managers are feeling pressured to take action on an approach that has become prevalent in business and mainstream media, and that has resultantly reached the general attention of executive management, prompting them to whip-up a frenzy of activity to ensure that they’re keeping their company up with the latest digital trends.
All three of these digital marketing activities have true potential to drive more effective marketing. Unfortunately, for the first two, the sense of urgency and intensity surrounding their introduction in most organizations in combination with a persistent general oversimplification of the effort required to achieve them and a risk aversion that has spawned experiments rather than true investments has resulted in unrealistic expectations, disappointment at results, and a failure to fund the subsequent effort that would actually ultimately deliver the expected returns.
The Next Big Thing
The current interest in building a “Big Data” approach to marketing runs this same risk. The topic of “Big Data” is everywhere, with promises... Read more
Think back to your favorite fourth grade memory. Was it playing pee-wee football? Having your first ‘girlfriend’? Going to an overnight camp? All fond recollections but for me it was the annual science fair. Yes, I admit it. I was the kid who got uber excited about scheming the perfect science experiment to showcase at my school…and if successful, take all the way to the county fair.
Although I would love to say my “Which Laundry Detergent REALLY Works the Best?” experiment led me on a path of groundbreaking discoveries, I reluctantly decided to walk away from my love for science. Lucky for me, my past love for science and my current passion for marketing are colliding.
Now I know the idea of combining science and marketing can sound like oil and water to some marketers but ‘Big Data Marketing’ is proving to be a major game changer for how brands engage with their customers.
Let’s start with the birds’ eye view. Big data marketing allows a company to use all of the data they have about their customers to then influence specific behaviors – behaviors that align with some key objective such as driving purchases, increasing satisfaction, or building brand loyalty. Key... Read more