What is the state of the advertising industry? How has digital fueled growth for brands and agencies? In our recent webinar, Pathmatics CMO William Merchan and Kait Boulos, VP of Strategy at Varick sat down to discuss changing trends.
In case you missed it, here’s a recap of what they covered:
The state of the industry: Ch-ch-ch-ch changes
Digital has always been seen as the growth engine for marketers, but it’s no longer the new kid on the block. At this point, you’d be hard-pressed to find any major brand that doesn’t have a strong digital presence. Similarly, programmatic is continuing to increase, with an estimated global spend of $34 billion, expected to reach $60 billion by 2022, according to the recent report by MAGNA.
When it comes to data, transparency is a must
When it comes to owning and understanding data, brands and agencies are struggling with an increasingly opaque landscape. While a brand’s data is typically their biggest asset, finding data partners that can also serve as your source of truth is imperative when analyzing data and optimizing your advertising plans.
Aside from taking advantage of any first party data you can get your hands on, it’s important to look beyond where the campaign ran to things like cross-screen attribution and other real world models. And while it’s not in the data, don’t forget to keep an eye on your creative strategy and messaging. Always ask yourself, “where can we improve?”
Partnerships have taken on new meaning - trust and collaboration is key
As we look across the industry we see the IQ of brands that partner with agencies go up dramatically, leading to smarter and better investments and higher impact. In the ever-changing digital landscape there’s no longer a cookie cutter approach to a great campaign, so brands and agencies must work together to find unique solutions that fit their business goals.
Arm yourself with the right tools and training
New tools have replaced many of the clunkier models that were hindering growth of digital-focused companies. With so many great tools that cater to marketer’s needs for real-time data analytics, it’s becoming easier to thrive in the digital ecosystem.
Increasingly, every facet of a company--from growth managers to new business to analytics--rely on these tools to enable their success, so it’s important to keep an open dialogue and focus on continued training and learning to stay ahead of marketplace trends.
Click below to download the full webinar recording now.