Media companies must invest in reaching new audiences while also creating seamless, hyper-relevant advertising experiences to reach a fluid customer base with complex and evolving needs.
New sources of data mean new revenue opportunities, while also providing highly relevant experiences that benefit the consumer. The sets of technologies people choose to use are now so integrated into their lives that they have become a part of consumers’ identities, and media leaders are using those identities to create a new generation of offerings.
Digital identities are part of an emerging enterprise feedback loop, one that first began to show its potential with the personalization efforts of the digital era. Through digital technologies, media companies gained new, direct touchpoints with customers. They used the resulting “snapshots” of insight into customer needs and goals to deliver personalized products and services, which, in turn, gave them even more insight into their customers.
Now, that technology-driven feedback loop is about to kick into overdrive. As the world moves into the post-digital era, media companies are beginning to build new products and services that shift the one-off, transactional exchanges between businesses and consumers to an ongoing, customized relationship.
From interactive content to connected devices, a balance needs to be struck between the wealth of data that’s available, the value it creates and the need to maintain consumer trust. Consumers want to know that their private data is safe. They also want clear value from the data that they do agree to share. As all these capabilities increasingly depend on AI, it’s essential that there’s robust governance around its use to avoid bias, ensure security and maintain compliance with data standards such as GDPR.