Are we creating a monster?
Tom diSapia, chief strategy officer EMEA at media agency UM contemplates the balance between progress and the blind pursuit of personalised targeting
Over the last few years, we’ve witnessed the next generation of briefs that are reflective of our ever more uncertain world. A feverish drive for data and technology as the catalyst to a new operating model that transforms marketing for the client.
There is no doubt that this is the future of media. The promise of generating immediate ROI for brands, making use of the millions of real-time data signals to know people better than they know themselves, and single source connectivity that allows us to react in real time to changing events and behaviours – will all make our media more effective.
A tantalising promise indeed. And, bound by our pursuit of futureproofing clients’ growth, one we are racing to fully realise.
However, in the spirit of October, it’s worth taking a step back to reflect on what we have sowed. I’m reminded of Victor Frankenstein’s contemplation of his creation – “I shuddered to think that future ages might curse me as their pest.”
Is our feverish pursuit going to create a super sophisticated spam monster?
Are these powerful tools simply leading to more paid ads being pushed down consumers’ throats in a blind pursuit of ‘ideal’ targeting?
Is there a fair value exchange for real utility or an abuse of people’s personal data?
We are off balance
More and more people, especially the younger generations, which brands are so keen to reach, are actively opting out of ads – whether through ad-blockers or via paid subscription tiers for services like Spotify.
This is reflected in the general public’s trust in advertisers, which is generally about as far as they can throw them. According to Ipsos Mori, advertising is the least trusted profession of all. It’s no surprise the industry faces a major talent deficit.
Our spam monster is in overdrive and hungry for more. More data: humane or not. More inventory; brand-safe or not. More impressions: real or not.
What this really means is we must reduce our over-reliance on using paid media to drive short-term performance. It’s our duty to quench the appetite of the monster and harness it for better marketing.
However, brands – and agencies – are going to have to take a deep breath, and more importantly a step back.
Step one: re-balance the short- and long-term objectives
I’m sure we have all heard (and love) the work from Binet and Field on balancing long and short-term marketing strategy. However, I’m also sure we have all seen the magic ‘60:40’ split in countless presentations.
We took this one step further and discovered that the brands that endured the test of time did three things right. They harnessed cultural moments and movements to create brand momentum. They understood the value of communities to drive relevance. They connected every impression to commerce to create lifetime value.
By applying marketing mix models across the full funnel, brands can balance the objectives between these ‘3Cs’ (Culture, Community & Commerce) to drive long-term growth without sacrificing performance.
Step two: earn our right to pay
‘Hold on, I thought we were dealing with a spam monster?’ Yes wait, I’ll get to that.
By crafting our communications within this ‘3C’ model, we start by trying to earn our right to connect with our audiences. Winning their hearts, minds and then wallets.
Adding to, not taking from culture. Playing a role within, not outside of communities. Creating commerce experiences that can then be shared back with communities and culture – no more dead-end connections.
A model that encourages brand experiences, which are shaped for and made by the audiences they serve. Not forced through via paid.
There is another way and future generations will thank you.
Step three: connect and then accelerate the flow
So, what of data and technology?
Like a series of wonderful waterslides, people flow through this ecosystem via exciting journeys that loop yet all link in the same pool. Ready to ride again.
The role of data is to get as many people through them as fast as possible (again and again). The role of technology is to make sure no one shoots off the sides.
If the media and ad industry want to become trusted again, and heroically slay the spam monster, we’re going to have to shift away from our current model and over-reliance on paid media. It won’t be easy, or quick, but it’s the only way to survive in the long-term.
“The beginning is always today.”
― Mary Shelley