Time to Change
Nobody engages with advertising without relating to it; in other words, "Nobody clicks on crap!"
NO relevance means NO engagement and NO meaningful connection to the consumer; a risk since loyalty is a tough game in a services-led environment where little things can have a significant impact on consumers decisions. We have to accept that by now the perception of content & media has changed especially with millennials.
The need to create an experience in advertising by involving, engaging and empowering customers and not to inform, remind and trying to persuade over and over again, has never been more important.
Fact is with the automation of our industry and the rise of the data-driven mindset, no matter if it is your company transformation or advertising, we need data to be better, but the experience and knowledge to apply it in both directions of creative and media, content and activation.
A Clear View
The reconstructed "Funnel"
Marketing initiatives that motivate people to buy products must be developed strategically better. In addition to the many media channels that we still strangely plan in silos today, you can not achieve any efficiency unless you take storytelling to a holistic level and then work towards content and distribution with data and creativity.
In addition to the inconstancy of today's consumer behaviour, we are now in the next challenge: the split of the attention rate. How do I tell a story in a specific time and maintain its momentum across channels and devices?
The younger generations can better deal with this as multitasker but have a shorter period to be influenced which the industry needs to adapt to. The fact is that the traditional funnel is no longer up to date as well as brand and performance strategies are becoming more and more integrated programmatically.
Transform the Approach
For decades, we have not changed our approach to digital activation and are still targeting consumers with less relevant content more than once. Meanwhile, we should recognise that individual formats and channels or strategies are no longer exciting for younger age groups. The way how we develop and plan an approach must be adapted to today's requirements. Consumers need to be motivated and involved with the story we want to tell and not be continuously reminded to deal with content and advertising that does not entertain them.
The new service-influenced Economy
We have to accept that brand loyalty is very difficult to obtain. Young consumers are not consistent in their purchasing decisions. They barely stick to a brand because they are consistently overloaded and confronted with media and opinions. The perception of media and the way how we connect with brands has therefore changed with the Millennials and certainly before that. We just did not adapt. Brands, therefore, must make sure to keep its value and its significance in young consumers upright.
Goal-Based & Consumer-Centric Marketing
Years of separation between content and media activation have strained relations between all parties, including brands and consumers. Therefore, they have lost a vital connection to the customer. An approximation is consequently essential to stay meaningful.
What we now realise is: Content is king, but distribution is queen! Collaboration between these pillars is necessary to create a meaningful customer experience. With the right strategy for content and data, it is possible to create a personalised customer journey that takes place not only in a silo. A better experience gives back a better return.
Describes the need to push for an ROI-driven marketing ecosystem.
People, Processes & Technology
The one-sided focus on technology has proven that the human touch still plays an indispensable role. Technology should support, automate and shorten time-consuming processes to facilitate decision-making and create room for creativity.
However, this must be related to the question of why we actually advertise. What is the purpose and what do efficiency and effectiveness mean when we are still working in silos? So far, the industry has built a complex ecosystem on top of a simple idea. The term "programmatic advertising" and "digital transformation" has been misinterpreted and misguided.
Therefore, there is still a significant need for education on these topics. If we manage to develop a consistent and integrated process between content and activation and reflect the advertising experience on the brand assets as well, we are already efficient and continuously learn about the customers and how they want to be addressed with advertising.
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