Hello, my name is Ryan Garner and I am the Innovation Director at CitizenMe. I am going to talk to you about Why AdTech is down a rabbit hole… and how to get back out.
Display advertising. Since 2010 the average CTR is a whooping 0.1%. I think it’s fair to say it hasn’t transitioned well to digital. So how do we fix it?
Over the years ad-tech has created lots of different routes? Different ad formats, re-targeting, etc.
But they hit a massive roadblock. Ad fraud is sky rocketing and projected to reach £19bn next year. That would make it second only to the drug trade as a source of illegal income. You’ve likely seen the news this year. The big advertisers - P&G, Unilever – they are calling for reform.
Back to the start, where can we turn next?
How about we buy in 3rd party data and track consumers around the internet so we can serve them a more personalised experience. Well the past few years has shown us why not. The only direction this will take us is further down the rabbit hole. Why?
Consumers do not want this. We’re currently witnessing one of the world’s largest consumer protests. At the start of the year, 615m devices globally are blocking ads.
Oh and then there is the GDPR. Two key things in this new legislation; 1) you need consent from customers to use their data for EVERY specific use case, 2) and you have to give your customers access to the data you store on them in a machine readable way.
This new regulation will ask big questions of the tracking and data broking industries, because the risks of non compliance are huge.
Is there any way out of Wonderland?
Well we could stop using data and revert back to corporate guess work
Well that would be madness!
It seems that any route ad-tech takes - it fails. They are failing because we are looking at the problem the wrong way round. Because somewhere down the line we forgot someone. The customer.
Roy Disney, who was in charge of Disney when they made the Alice in Wonderland film once said:
“It's not hard to make decisions when you know what your values are.”
So here are 3 values for the digital era and help us find our way out of this rabbit hole
"Use data to accentuate our humanity. Not make humans more digital.” I think we often forget about the human behind the data when we’re trying to maximise CTR. Technology should bring us closer, not to maximise “eyeballs”.
"Marketing is about relationships. It’s not something you do to someone.” We constantly push and follow customers around the internet without fully engaging or understanding them. Marketing should be about building trust and relationships.
"Better understand your customers by giving them control of their data.”. Well after all a bit of “give and take" is the basis of all good relationships.
I know what you’re thinking. I’m the crazy one. Data is an asset. We can’t give it away.
There is a lot of emerging customer tech on the horizon. Tech that works behalf of the customer, not the business. Customer Tech will help people to better understand themselves and make better decisions.
In May 2018 GDPR will lay down clear pathways on how to engage with customers that promote trust. See this as an opportunity not a risk.
So don’t be late. The clock is ticking. It’s time to re-assess our use of data and how we form relationships with our customers.
Thank you for listening.
Why ad tech is down a rabbit hole
Why AdTech is down a rabbit
hole… and how to climb out