We live in a world where everyone wants our attention. Among those people are advertisers. From billboards to TV commercials there are an abundance of signals.
The panel in today’s daily debate began to break down the effect of these infinite signals have on customers. Among the panel members were Anthony Iaffaldano, Vice President of Corporate Marketing for Business Insider, Jason Kuperman, the Chief Product Marketing Officer ON Smart Media a division of OUTFRONT Media, Suzanne Lampert the Vice President of Agency Partnerships at Cardlytics, Steven Wolfe Pereira the Senior Vice President of Chief Marketing and Communications Officer of Quantcast and Adam Singolda, the Founder and CEO of Taboola.
The panel began the session by discussing with just the vast quantity of data out there. They quickly identified that there is just too much data and we are drowning in it. Instead, we need to figure out what data we truly need and begin recognizing the patterns within this data we can bring the value to the right customers.
To start recognizing the importance behind certain data, people need to actually start understanding the trendy, AI “artificial intelligence” before they just use it. AI can be extremely powerful if used correctly and properly but it really isn’t solving all of the problems marketers and agencies are having with the mass data. Once people begin to utilize AI, this can gradually transform every single brand.
Another way to sort through the data is through conversations between marketers and advertisers. Right now, there is this disconnect and marketers don’t know what they are looking for so they just start gathering all of this data. If they know what they are trying to achieve it is much easier to start narrowing your scope. Right now, agencies are being asked to deliver all of this data to their clients when marketers should really come in and solve the problem because agencies are just meant to manage all of the data.
To help brands tackle this issue they suggest learning about the trends and thinking about the future. Lampert pointed to personal assistants like Alexa as a way to think about how data collection of the future might help create a more efficient way to gather data. By recognizing this, we can start to look at how to get better and better in data collection.
Once data collection gets more efficient the panel has high hopes for the future of advertising. By discovering what consumers truly need through better targeting then advertisers can offer value to the consumer. Once they see this value, the relationship between the consumer and the brand will grow.
According to Wolfe Perenia, every brand needs to realize how important data really is and start using it better. To continue to adapt in this industry, utilizing data will be a key factor to help your brand get stronger and bigger.