Filed under: Datarati, Web Analytics | Tags: Avinash Kaushik, Web Analytics
Marketers that change their agency relationships will get a jump-start on Adaptive Marketing. Once a handful of leading marketers begin to reshape their agency relationships, a domino effect will occur. Here are some of the changes that Forrester says will affect agencies:
- Technology companies and agencies will compete more directly. Technology companies and consultancies are now offering agency-like services. This trend will continue as digitization moves marketing from art to risk planning. While these companies will compete more directly with agencies for marketing service opportunities, they will struggle to provide the emotional connections and creativity that marketers will still require to establish their distinctiveness.On the other hand, agency-holding companies like WPP and Omnicom Group will continue to invest in technology companies to enhance their left-brain abilities.
- The interactive agency of record will die. In the Adaptive Marketing era, interactive marketing will become core rather than a secondary effort for marketing departments. The end result: The interactive agency of record will become obsolete. Leading interactive agencies will have to make the big choice to enter the race to be the lead agency or fall back into a niche specialty.
- Media will be managed holistically. In the Adaptive Marketing era, marketers will need to move seamlessly between digital, broadcast, and branded entertainment options and across earned, owned, and paid media options. This holistic approach to media will mean agencies that deal in this broader definition of media (e.g., media planning, interactive, and PR agencies) will blend together or compete as “interaction” agencies.Starcom MediaVest already describes itself as a “human experience” agency focusing on all forms of media, while social media agencies like the Digital Influence Group start planning some paid media to go along with the earned media they create through social experiences.
- Media “derivatives” will emerge. With the rise of demand-side platforms and ad exchanges, media planning and buying is moving from math to a higher science. Many of the services an agency provides, especially in paid media, such as optimization and traffic analysis, are now being automated or sent offshore.As David Kenny, managing partner of Publicis Groupe’s VivaKi predicts, media planners of the future will “be like portfolio managers focused on managing risk for their clients.”
- Agencies (and other marketing outsourcers) will become more important than ever.Marketing is becoming faster and more complex by the day. Twitter and iPhone apps were a blip two years ago, and Foursquare was a blip until the end of 2009. Consumer behavior is changing rapidly, while media platforms are becoming more splintered and unique. Marketers will need to look to specialists in creativity, technology, and data to help make sense of this complicated landscape.
Serial entrepreneur and gWallet founder Gurbaksh Chahal sold his ad network BlueLithium to Yahoo for $300 million in 2007. At the time, Chahal’s company was the fifth largest ad network in the United States and the second largest in the United Kingdom. Chahal’s non-compete contract with Yahoo just ended last week, and he’s getting back into the online ad business. Today, he’s launching RadiumOne, an online ad network that aims to combine social and intent data to serve ads.
RadiumOne mines social data and use this information to identify relevant consumers for brands. Through what Chahal calls “social retargeting,” RadiumOne analyzes how users interact with one another on social networks to find the consumers that identify with a brand’s current customer base, and then serves advertisements to this audience.
Filed under: #mktgcloud, Data, Datarati, Visualisation | Tags: Data Visualisation, Datarati
Most of you would have heard of Wordle.net, however I came across Tagxedo today.
Really really cool tool.
Highly recommend you use for presentations internally within your organisation.
Check it out: http://www.tagxedo.com
In an interview with WSJ’s Alan Murray, WPP CEO Sir Martin Sorrell conceded that advertisers must do better to inform customers about the tracking and mapping of online behavior.
Filed under: #mktgcloud, Marketing Automation, Marketing Cloud | Tags: Datarati, Marketo
This year over 600 Marketo users (Up from 175 in 2009) from around the world including Datarati customers Altium, Upstream Print, Sonar 6, and Time & Attendance gathered to learn and share best practices and insights in data-driven digital marketing.
What did I learn? Top 5
1.) Experience: Datarati customers using Marketo are some of the most advanced in the world!
2.) Justification: No longer can a marketer get away with not being able to justify their marketing spend and investments. Marketing Automation solutions like Marketo allow for you as a marketer to track all of your investments in paid search, paid display, email marketing, webcasts, events etc down to the actual closed revenue that these channels are driving for your organisation.
3.) Metrics: For marketers to gain a seat at the revenue table within their own organisations, they need to talk REVENUE i.e what revenue did the marketing team contribute to the business last month? and NOT campaign metrics i.e. how many impressions, click thrus or unique browsers did the marketing team’s campaigns contribute to the business last month? If you as a marketer can’t answer the REVENUE question, you need a marketing automation solution like Marketo. Until you implement a tool like Marketo, your seat at the revenue table will simply not exist.
4.) Attribution: Last click, first click and fractional attribution is worse then doing no attribution at all. David Raab’s presentation provided a though-provoking stance on campaign attribution. This stance was also echoed in the closing keynote from the industry’s leading figure in web analytics Avinash Kaushik from Google who stated “Agencies just make shit up when it comes to campaign attribution.”
5.) Growth: Marketo’s Co-Founder and Head of Marketing, Jon Miller talked about huge growth opportunity of the marketing automation space globally and congratulated Marketo customers for being in the top 2% of marketers globally who were using a marketing automation solution like Marketo.
Overall, this years conference really cemented in my mind the fact that our job in Australia, New Zealand and the wider Asia-Pacific region is clear. Seek only those clients who WANT to measure and demonstrate return on investment (marketing ROI) and prove the impact that those marketing programs have on revenue to their organisations.
A recurring theme during New York’s Advertising Week last month was real-time, data-driven media buying, made possible through emerging technologies such as ad exchanges and demand-side platforms (DSPs.)
During a keynote speech delivered to an audience of online marketing professionals at the IAB Mixx event, Google executives said real-time transactions on its DoubleClick Exchange more than tripled in the past year, and predicted that at least 50 percent of all targeted online display advertising will be bought through real-time platforms by 2015.
However while these technologies afford advertisers greater targeting and media efficiencies, executives from companies selling data to inform such ad buys suggest agencies must invest more heavily in staff dedicated to the practice to help drive it forward.