On Thursday, the Lab attended the New York Ad Club’s Measurement: Now, a half-day event dedicated to data tracking and responding to the consumer journey. Three key themes emerged from the panels and keynote speeches:
Content and Context: Though the idea of a “consumer journey” isn’t new, brands are now acquiring the ability to target individuals in a specific context—time, physical location, device, point in the sales funnel, and so on—with an appropriate message. What this means is that marketers can develop more nuanced segmentation based on behavior and flesh out personas into real humans. This will increase brands’ relevancy, since as Audrey Hendley, Senior VP and GM, Acquisition & Prospect Engagement of American Express OPEN, noted, data must ultimately answer the question “what does our prospect want?”
Privacy and the Value Exchange: Ad technology is rapidly approaching the point where data from multiple devices (phones, television, and more) will be able to be tied to a unique, comprehensive consumer profile. While this has great potential for brands, “what thrills me as a marketer terrifies me as a citizen,” said Deborah Marquardt, SVP, Managing Director at MediaVest. In order to avoid what Kosta Skoulikaris, VP, Advertiser Solutions, Nielsen called the “icky factor,” brands must safeguard consumer data and provide value in return.
Redefining ROI: As Aaron Fetters, Director of Insights and Analytics Solutions Center of the Kellogg Company, pointed out, marketers are increasingly accountable for budgets, making it imperative to get the “most of out of the money we spend.” But that doesn’t necessarily mean that brands should focus entirely on ROI—in fact, Shelley Zallis, CEO of Ipsos Open Thinking Exchange, suggested that ROE, or “return on engagement” may be a better metric.