Three themes echoed throughout Advertising Week New York this year: Third-party data is harder to get, the creator economy is growing, and marketers face more pressure to prove ROI. Here are some of the most common—and controversial—trends from the event.
“Every brand with valuable first-party data has the potential to become a media network,” said Ellen Mulryan, senior director of retail data partnerships at The Trade Desk.
Our take: As third-party data becomes scarcer, brands that collect data can use it to sell ads through commerce media platforms. Expect more commerce media launches and partnerships in the coming months. Even if brands don’t have a massive platform on which they can serve ads, their data is valuable off-site via partnerships with other publishers.
“Just because you have data doesn’t mean everyone wants it. You need to organize it. You need to package it. You need to show scalability. You need to answer the questions that are being asked and not just the theory you have in your head,” said Mike Petrella, managing director of strategic partnerships at United Airlines.
Our take: With so many commerce media network choices, emerging networks must show their unique value in the audience they serve or the usability of their data.
“If someone can tell us which of our ideas will go viral on TikTok, you will make a lot of money,” said Joel Yashinsky, CMO at Applebee’s.
Our take: Brands recognize the value of TikTok content, but don’t fully understand what will blow up and what will flop. Content that connects emotionally and offers entertainment or education performs strongly. Brands aiming for TikTok virality should consider working with established creators or making sure Gen Z creatives are on their social media teams.
“Hesitancy [to work with creators] doesn’t come from brand safety concerns and it doesn’t necessarily come from this idea of creator content lacking in quality when you compare it to studio-produced creative, but rather from the risk of investing in a tactic that is seemingly more difficult to measure than some of the other digital channels out there,” said Jasmine Enberg, vice president and principal analyst at EMARKETER.
Our take: Social media teams must have measurable KPIs outside of views and interactions so CMOs can prove to CFOs that creator content is worth investment. Mixed media modeling (MMM) came up in several panels as one potential way to prove this ROI.
“Performance just means measurable. All media these days is measurable,” said Jonathan Lerner, senior director of client strategy and analytics at Tinuiti on advertising via commerce media networks.
Our take: Measurement was one of the hottest topics at Advertising Week New York this year, with marketing teams and CMOs under increased pressure to prove to CFOs that marketing dollars provide ROI. All paid media, even tactics traditionally considered upper funnel, are now measurable. Marketing data teams must be able to present these measurements in a way that helps financial teams understand what they’re doing is working.
“Where clients find the best advantage and results is where they’re using measurement for learning,” said Jorge Ruiz, global head of marketing science at TikTok.
Our view: Measurement isn’t just important for proving ROI. It should also be informing marketing strategies mid-flight. Marketers must take note of what’s working—and what isn’t—and be agile with changing content strategies.
This was originally featured in the EMARKETER Daily newsletter. For more marketing insights, statistics, and trends, subscribe here.