Our VP, Europe, Mike Shaw was recently interviewed by Business Reporter on why data activation is table stakes for marketers. Download the full interview here!
In the interview, Mike discusses how most major corporations have been collecting valuable customer data for a number of years now. But many are still not managing to break down the silos between data sets, missing out on a truly holistic view of their consumers and marketing touchpoints, and the ability to activate this data on media investments in real time.
The impact of failure to activate your data can be catastrophic. It’s most felt by the consumer – when their experience with your brand is not personalised, relevant or compelling. For the advertiser, this translates to a waste of your data and media investments. More importantly, you’ve missed out on generating potential revenue.
People now consume huge amounts of media across a huge number of different devices. Drawing together the disparate layers of data and strands of consumer insight generated by this behaviour into one place, then acting on it at the speed of life is the key. If we can piece together a unified identity for each of our consumers and attribute every touchpoint back to the individual, that’s how we can make the most efficient marketing investment decisions and generate true ROI.
This is one of the things that was promised by the rise of online advertising. The advent of the click-through rate in lower-funnel marketing activities created the ability to attribute all success to a specific event. Conversely, it also undermined the importance of the brand-building activities that happened at the top of the funnel, simply because the same directly attributable data was not available.
Now that we’re seeing more and more traditional media like television, out-of-home and radio delivered digitally, this digital data is now available across the full funnel, and it can be just as measurable and attributable as banners and videos.
By building all of these layers of data from across the funnel into one place and unifying your audience and their actions into one view, you’ll not only see the full picture of which touchpoints led to the final action, but use that data in real time to invest your spend in the most optimal way. Through the convergence of secure technology, digitalised media and real-time activation you can generate true, verified business value through marketing.