Why data strategy is key to addressable media buying
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This document discusses the importance of data strategy for addressable media buying. It notes that addressable media is growing double digits annually and will account for 30% of media by 2022. For brands, this allows multichannel, cross-channel, and omni-channel communications with customers. However, effectively utilizing customer data presents challenges around data collection, technology platforms, governance, organizational structure, and third party data quality. Developing a data strategy requires aligning business, marketing and organizational strategies with a focus on scale, platforms, audiences, portfolios, agility, risk and innovation.
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Why data strategy is key to addressable media buying
- 1. Why data strategy is key to addressable media buying Sherif Guindy EMEA Head of Data Strategy @PicoGuindy Media Buying Forum
- 2. 2 ADDRESSABLE MEDIA DOUBLE DIGIT % GROWTH 30% ADDRESSABLE BY 2022 10% THIS YEAR ALONE
- 3. 3 WHAT DOES THIS MEAN FOR BRANDS?
- 4. 4 WHAT DOES THIS MEAN FOR BRANDS? MULTICHANNEL COMMUNICATIONS customers CROSS-CHANNEL COMMUNICATIONS customers OMNI-CHANNEL COMMUNICATIONS customers
- 5. HOW CAN I UNLOCK THE VALUE OF MY 1ST PARTY CUSTOMER DATA?
- 6. 6 CHALLENGES FOR ASSESSING CUSTOMER DATA DATA COLLECTION
- 7. 7 CHALLENGES FOR ASSESSING CUSTOMER DATA DATA COLLECTION TECH & DATA PLATFORM
- 8. 8 CHALLENGES FOR ASSESSING CUSTOMER DATA DATA COLLECTION TECH & DATA PLATFORM GOVERNANCE & PRIVACY
- 9. 9 CHALLENGES FOR ASSESSING CUSTOMER DATA DATA COLLECTION TECH & DATA PLATFORM GOVERNANCE & PRIVACY ORGANISATIONAL STRUCTURE
- 10. 10 CHALLENGES FOR ASSESSING CUSTOMER DATA DATA COLLECTION TECH & DATA PLATFORM GOVERNANCE & PRIVACY ORGANISATIONAL STRUCTURE 3rd PARTY DATA QUALITY
- 11. 11
- 12. 12 INVESTMENT GOALS ...BUT 90% OF DIGITAL TRANSFORMATIONS FAIL
- 13. 13 HOCKEY STICK DREAMS & HAIRY BACK REALITY 13 Being excessively bold in making forecasts and excessively timid in making choices.
- 14. 14 14
- 15. 15WHOWEARE LEAN ON YOUR MEDIA PARTNERS
- 20. MAKE GROWTH FEEL REAL T A K E A W A Y S
- 21. MAKE GROWTH FEEL REAL BUILD FOR SCALE & INNOVATIONT A K E A W A Y S
- 22. MAKE GROWTH FEEL REAL BUILD FOR SCALE & INNOVATION HAVE THE COURAGE TO SHARE T A K E A W A Y S
- 23. THANK YOU Sherif Guindy EMEA Head of Data Strategy @PicoGuindy
Editor's Notes
- https://www.gettyimages.co.uk/detail/photo/collage-of-faces-in-fingerprint-royalty-free-image/649660945
- https://www.gettyimages.co.uk/detail/photo/collage-of-faces-in-fingerprint-royalty-free-image/649660945
- So why am I telling you this? Because everyone of us working with addressable media is likely to have been asked this question - or, if you’re a brand, will likely be asking it. I’m going to share some ways of making smarter decisions with your data for better marketing.
- Customer data - Disparity with data collection & connection across touchpoints Tech & data platform - Effort of integrating and consolidating tech platforms, in a walled garden world Governance & Privacy - GDPR, ePrivacy and the market changes that follow Organisational structure 3rd Party Data Quality - Navigating data “owners”, organisational structure and change in culture. (is there anything else here about dwindling supply with GDPR?
- Customer data - Disparity with data collection & connection across touchpoints Tech & data platform - Effort of integrating and consolidating tech platforms, in a walled garden world Governance & Privacy - GDPR, ePrivacy and the market changes that follow Organisational structure 3rd Party Data Quality - Navigating data “owners”, organisational structure and change in culture. (is there anything else here about dwindling supply with GDPR?
- Customer data - Disparity with data collection & connection across touchpoints Tech & data platform - Effort of integrating and consolidating tech platforms, in a walled garden world Governance & Privacy - GDPR, ePrivacy and the market changes that follow Organisational structure 3rd Party Data Quality - Navigating data “owners”, organisational structure and change in culture. (is there anything else here about dwindling supply with GDPR?
- Customer data - Disparity with data collection & connection across touchpoints Tech & data platform - Effort of integrating and consolidating tech platforms, in a walled garden world Governance & Privacy - GDPR, ePrivacy and the market changes that follow Organisational structure 3rd Party Data Quality - Navigating data “owners”, organisational structure and change in culture. (is there anything else here about dwindling supply with GDPR?
- Customer data - Disparity with data collection & connection across touchpoints Tech & data platform - Effort of integrating and consolidating tech platforms, in a walled garden world Governance & Privacy - GDPR, ePrivacy and the market changes that follow Organisational structure 3rd Party Data Quality - Navigating data “owners”, organisational structure and change in culture. (is there anything else here about dwindling supply with GDPR?
- Scale: Addressable media scale Tactics: Retention, Upselling, Cross selling, Suppression Future: Are you setup for future addressable channels. It is like we have built this amazing building, assuming that the foundation are in tact. and it's not!!!
- When looking at the state of clients data landscape, we come across the same issues time and time again. First - the transformation to a data organisation is long and seemingly never ending. It’s difficult for clients to get to grips with the sheer amount of data collected, where it comes from and the changing rules. Secondly - clients regularly have limited budgets assigned and what little is there is often cut, Then we have zero based budgeting - a method where justification must be made for all expenses in each new campaign/period. Clients essentially want to see a quick turnaround of results. And lastly, there’s the classic last minute change in business KPIs or tactics… Culture: Data collection & sharing culture shift needed Talent: What talent do you need? and what do you do with the current talent? Budget: ROI for transformation is low and slow burning? Pressure from investors Business Goals: How can I get everyone onboard when we have different goals and KPIs? Add Digital transformation stats:
- Academics Daniel Kahneman and Dan Lovallo captured these dynamics in a paper published almost 25 years ago, but their findings are just as relevant today. They disentangled two seemingly opposing errors people make: being excessively bold in making forecasts and excessively timid in making choices. Bold becuase all plans require an increase in investment, but not a single executive will come in and say my money can be used somewhere else. It’s like bragging about doing a marathon but under-training because you imagine yourself fitter than you actually are. Spend more time on deciding what actions you will take, then rack up the expected results.
- Thinking about all these bad things and wondering where to start? Actually, we got this
- And who is best placed to help marketers through their digital transformation projects? Well, if 95% of organisations undertaking digital transformation and using addressable channels is to have better customer experiences, then agencies are theoretically best placed because we operate between brands and customers. Practically, we are the tip of innovation, technology and products. That can ultimately capitalise on the investments in media & ad technology We have the: business strategy marketing strategy Organisational structure And we’re data driven How will we do it?
- First we should address company’s business strategies. Agile Planning: Economies, Competition, Consumer Behaviour. Emerging Trends: Risk Management: Investor Pressure, Identify Quick Wins, What if we don’t invest? Some real world examples here….
- First we should address company’s business strategies. Agile Planning: Economies, Competition, Consumer Behaviour. Emerging Trends: Risk Management: Investor Pressure, Identify Quick Wins, What if we don’t invest? Some real world examples here….
- MArketing strategy SCALE & Permission: Consent Programme, Single Customer Data Set, Marketing Platform: Media Platform, Unleash the Machines!! Audience Strategy: Portfolio Management, Suppression Tactics, Data Modelling BT Group, Universal examples of managing consent and finding new ways to own the client engagement.
- Walled Gardens: Identify Data Owners, Internal Education, Data Centric Org Governance: Collection & Processing, Data Management Guide, Data Accountability, Lean on HR Culture: Democratise Data, Data In - Data Out, Courage to Share