The dmexco recently started but the discussions between five great global leaders are already getting into deeper areas.
Greg Glenday, Shazam, Warren Jenson, Acxiom International, Bob Lord, IBM, William Swayne, Carat and Lisa Utzschneider, Yahoo were discussing the up to date topic how data drives value. The moderation was in the hands of Randall Rothenberg, CEO of IAB.
“It is about everybody! Data and technology are all about people and creating a personalized experience.”
– Warren Jenson, Acxiom International
We are entering a Big Data universe and the question of how to effectively identify and handle data dynamics and how to create value through data are getting crucial. But what does data exactly mean? And how can one keep consumer privacy as well as create specific value?
How do you capture and use and monetize consumer data? What is the value above and beyond the area survey research?
Leveraging data helps developers to build better apps and marketers to promote them effectively. Furthermore, apps are becoming more engaging for customers. Technology is able to give us big data that afterwards can be transferred into insights. “Data and technology are all about people and creating a personalized experience. It is about everybody. We can nowadays connect data, customers, marketers and developers, empower campaigns and personalize them”, explained Warren Jenson, Acxiom International.
Through the use of Big Data, we are able to learn more about the behavior of customers. “The digital economy is changing everything, transactions are becoming increasingly digital. We understand people better than ever now and are able to share our data with clients “, explained William Swayne, Carat. The opportunity of optimizing performances is becoming increasingly important, marketing developed into a steady learning process for organizations as well as developers.
— Roman Bentele (@romanbentele) September 14, 2016
A great example for this was given by Greg Glenday from Shazam. A company that is tracking all different kind of music is having billion data points a day and over 20.000 shazam´s a minute. With the new technology, they are able to see which songs are likely to be trending. If different user profiles, for example country music lovers as well as RnB fans are shazaming the same song, one can profit from this insight. That song could be a potential hit that marketers can now promote differently within campaigns and therefore support the effect.
Warren Jenson, Acxiom International explained that there are three main points his company is focusing on: The first one is to provide connectivity, secondly people based recognition and thirdly to provide Know-How when it comes to terms like privacy and security. With the guidance of these three aspects, the company tries to make products much more effective in order to provide insights. Therefore, brands should know how to deliver the right message at the right time to their customers.
How to Improve Digital Advertising?
A funny example of bad online advertising was given from Randall Rothenburg within the discussion. For him it is astonishing how “crappy” some online ads are. The case: an advertisement for camera lenses that he already bought is regularly popping up. In his opinion, it is not the fact of targeting that annoys him, but when this targeting is useless.
Lisa Utzschneider from Yahoo explained, that companies really need to set goals within their ad campaigns. What are you trying to accomplish? How to prioritize and leverage data? Companies should think about those aspects before advertising.
“Every day they come to work.”
-Warren Jenson, Acxiom International
Today, it is all about innovation. Warren Jenson from Acxiom International gave the interesting example of Amazon within the discussion. “Amazon did not stop in innovating and kept on working. Every day they come to work.” The digital economy is a constant loop of innovation where companies today need to find a balance.
How to Keep Consumer Privacy?
Consumer privacy is always a sensitive subject when it comes to the World Wide Web. “For our company, the first priority is a consumer centric approach. The consumer is in the center of everything we do. Ensuring to maintain the trust and respectfully deal with consumer data as well as ensuring that everything we do is anonymized is most important”, explained Lisa Utzschneider, Yahoo.