Revealing the top media trends for 2017, Chawla says that though content has been a key element in marketing funnel since the start of advertising, it hasn’t evolved in sync with the pace of consumer purchase funnel in a multi-screen world.
Continuous innovation in media is providing brands with a seemingly endless stream of ways to connect with consumers, but knowing where to focus budget and for what purpose is becoming increasingly complex. Success or failure comes down to content and effectively honing it to meet consumers’ needs in every channel, which anchors many of the media trends and predictions that advertisers and marketers need to be aware of in 2017.
Content has been a key element in marketing funnel since the start of advertising. However, it hasn’t’ evolved in sync with the pace of consumer purchase funnel in a multiscreen world. Marketers today are looking for seamless content strategy starting from basic elements such as webpages all the way up to rich content such as videos, audios and pins amongst others. Brands have started making use of personalisation at its best by understanding their consumers’ profile and interests and in turn pushing in relevant context via using app marketing as a key platform in the communication and media mix. Every brand in India is trying to optimise the value of push notifications in order to increase the top of mind recall. We believe that 2017 will witness content marketing led analytics and data companies revealing insights that will allow marketers to earn their pie using most effective content platforms and route to personalise messaging amongst users.
Big Data, Machine Learning & Predictive Marketing: The past two years have ushered in a dynamic scenario in the space of Big data allowing for better consumer profile gathering, insights as well as predictive marketing. Companies across data visualisation, media marketing, analytics as well as media consulting are expected to rule the stage. The further advent of volume as well as variety of data coming into the platforms will allow brands to utilise advanced robust machine learning led predictive marketing. With minor spends going in the direction, brands will be able to leverage major long term ROI and reap benefits out of the money spent.
TV- social marketing: Social media space has allowed marketers to understand consumer insights, reactions and actions to their value and communication. With more than 85% of consumer’s media time being spent on social platforms, it is now critical for marketers to acknowledge this phenomenon in their strategic media planning to increase positive conversations and sentiments around their brands in a cluttered media environment. Companies have started using social platforms as a response mechanism to their TV advertisement communication by using hashtags promotion, Facebook page mention, Whatsapp number thereby compelling brands to have a journey for measurement of TV media in qualitative manner as against only reach it can contribute to brands Industries such as FMCG, F&B, Ecommerce, as well as Telecommunication have already started directing their heavy TV viewers to social platforms by syncing both screens in real time to complete the journey and close the response using technology platforms and products.
Cross media attribution: There is fine line between multi-channel and cross media attribution, with one being probabilistic versus the other being deterministic in nature. Advertisers and brands need to leverage the both to make sure the attribution funnels are complete. Those in the deterministic camp believe that definitive proof of a consumer’s identity is the only way to go. Such solutions rely on known facts about people, typically revealed when they log onto sites such as Facebook or Twitter. So why isn’t the whole world embracing deterministic matching? While highly accurate, it struggles to scale. No one -- not even behemoths like Google and Facebook can build deterministic device graphs for every consumer. That means marketers can’t truly achieve their campaign goals using just deterministic data. Probabilistic device-linking approaches use data analysis to associate multiple devices to a specific consumer or household. While there is data that can help brands to create certain inferences but one cannot afford to forget consumers simultaneous media consumption patterns, which no longer can be side-lined while doing such analysis. We see growth of companies that shall bring forward algorithm based approach involving different methodologies for brands to calculate uplift of digital metrics because of TV ads today. This calls for next wave of media planning that shall keep consumer and brand goal both at centre and further help in driving media mix that shall see digital transference the most from other media channels to start with TV.
Strategist, Analyst & Data Scientist; the data world opens newer opportunities in media industry: The market and media world has always been segmented by media managers, planners & buyers. But 2017 shall see a new generation of roles that are going to be specialised with knowledge of data, analysis and strategy working close to the brand and media team. The need of the hour is to create specific talent pool that can operate advanced tools that are eyeing to erode the market in space of automation. Without this, marketer’s investment might go in drain or won’t see value of money spent on the software and technology supporting it. The Indian media industry has to be ready with this new skill across agencies, publishers as well as client ecosystem to have positive conversations driving fruitful results.
(The author is Founder and CEO, SilverPush)
Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com