As the media industry continues to grapple with the rise of data as applied to all media investment decisions, companies are looking at ways to demystify data and apply it for solutions to meet business objectives. The application of data to marketing and media practices is unearthing new opportunities in audience targeting, precision marketing, buying efficiencies and value drivers for client and media owners. The point comes under further spotlight in the latest Media Economy Report by Magna Global, the media unit of IPG Mediabrands.
Brian Hughes, SVP – Audience Analysis Practice Lead, Magna Global and lead author of the report, stated, “Data is inching us ever closer to that moment of real-time, one-to-one messaging, regardless of location. Those marketers who are able to most effectively harness the precision and speed that applied data enables for communications will be best positioned to thrive in the new data-driven media economy.”
Some of the value drivers highlighted in the report are:
#1 Consumers are twice as likely to interact with online ad content when it is delivered in real-time.
#2 Incorporating real-time content into online display ads improves brand favourability and purchase intent.
#3 In a multi-screen campaign, the shorter the interval between TV and online ad exposures, the more memorable the messages will be.
#4 Sequential messaging across TV and online improves positive responses to the brand.
#5 Many global internet users are in favour of their devices anticipating their needs based on passively collected data.
Mr Hughes added here that as technology and data speed have improved, timing has become increasingly important as a component of successful targeting. Relevance can hinge not only on when the message is delivered to the consumer, but on the cadence of subsequent communications.
The current Magna Media Economy Report – a bi-annual report from Magna Global that identifies and demystifies some of the media industry’s most complex and compelling subjects, including mobile and the future of TV. The latest report is titled ‘Better, Smarter Faster: How Data is Changing Our Business’.