At CES 2019, we brought together leading voices from the worlds of brand, publisher and technology for a panel discussion on defining the new advertising ecosystem.
With Anna Bager, Executive Vice President of Industry Initiatives at IAB, as moderator, our panelists—Guthrie Collin, Senior VP, Advertising Product and Technology, Dow Jones; Catherine Higgins Whiteside, VP Marketing, Americas, Radisson Hotel Group; and Vikas Jain, Head of Strategic Alliances, Marketing Platform, Google—explored the changing marketing industry and shared their insights.
Here are some of the key takeaways that emerged during the discussion:
The advertising ecosystem is vast, complex and rapidly evolving. No one player can satisfy the full needs of advertisers across technology, data, brands, publishers, service providers, standards and authorities. It requires collaboration across the ecosystem.
One manifestation of this need for collaboration is the creation of trust and transparency across the ecosystem—between brands and tech providers, tech providers and publishers, and brands and publishers.
There’s an inherent tension between creating the best experiences for the consumer and respecting their data privacy rights. Consumers expect personalized experiences that help them solve their problems, but to get a personalized experience, consumers must allow their data to be used to serve them. Consumers are generally okay with this, assuming that brands are giving them access to the data, are transparent with what data is being collected; how it’s being stored and how it’s being used—and as long as it’s being used for their ultimate benefit.
The aim of marketing is still the same: to deliver on their brand promise. However, the role of marketers is changing, and that requires additional education. To be truly successful in their roles, marketers must be well educated on data, technology, analytics and so much more.
All players must work together for the benefit of the consumer. If it’s right for the consumer, it’s right for the ecosystem. Our North Star should be an obsession with doing what’s truly right for the consumer.
Guthrie Collin summed it up best: “Efficiency can be the antithesis of growth.” The ecosystem is changing so rapidly that marketers must constantly experiment with new channels, methods, technologies and more—even when it comes at the cost of the greater efficiency of established processes.
Find out more about how marketers should manage data, the importance of collaboration, and more in our research with IAB.