Marketers Want Smarter Ads for Smartphones

A couple weeks ago I spoke on a panel during the MMA SM2 event at Ad Week in New York.  We had a lively discussion around the use and role data is playing in marketing today and I was quoted, see Marketers Want Smarter Ads for Smartphones, for having said:

 

“Data’s not new, but what’s new on the table is that there is a lot of it. Right now we’re generating 200 exabytes of data a year, and—think about it, the Library of Congress is 5 exabytes of data. That’s over 40 times the size of the Library of Congress that we’ve generated every year,” said Michael Becker of Somo Global.

 

In a world of data driven engagement marketers need to not just speak to consumers but speak with consumers.

 

In an attempt to improve the performance of marketing and to generate profit, companies and their suppliers have turned to collecting, mining and refining vast amounts of information about consumers as they move throughout their daily lives. Over the years, through advanced data management science and engagement mediums like mobile, the information has become increasingly personal. Today, companies not only use this personal information to effectively segment and target general consumer groups they use it to target and re-target individual consumers to deliver personalized messaging, offers and content and engage them at any point along the customer’s journey. Consumers and government regulators are increasingly becoming aware of these practices. They are recognizing that this personal information has value, that much of this information is personally sensitive (or can become so when predictive anlayics techniques are applied) and if mis-managed may put the consumer at risk for unwanted intrusion, identity theft and more. They are demanding that individual consumers have the ability to control, if not own, their personal data and determine what to share, who to share it with, when to share it and how and for how long it can be used.

 

As an industry we are faced with a pending revolution, a revolution that will give consumers dominion over their personal data. This revolution will trigger significant cultural, economic, and socio-political changes throughout all industries and mobile will play a key role since it is at the heart of all cosnumer behaviour and data collection efforts.  It is time for consumers to become active player in the industry to have an equitable seat the table within the personal data ecosystem. Companies that invite the consumer to the table within the emerging personal data marketplace, as equal partners, shall reap the rewards of consumer loyalty, engagement, trust and equitable value exchange and those that do not may find themselves left behind.

 

Release Date: 
Mon, Oct 07, 2013

 

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