Why Data Is All-Powerful For Agencies: MediaMath

Businessman working with modern computer
SHARE
THIS



In this Q&A piece, Heather Blank (pictured below), senior vice president of MediaMath Audiences, gets quizzed on how agencies and brands can make the most of the data they’ve got.

Heather Blank

What is the single most important thing to consider when transforming into a data-savvy organisation?

 When looking at transforming a company’s marketing into something truly digital, it is all about the consumer – that is the single most important thing. Marketing today has shifted from silos defined by media channels to a focus on the consumer. At the same time, consumer behaviour is getting increasingly complex.

This means that all consumer data – across touch points – is now essential to the success of marketing and business. Brands now need to have a much better understanding of the value of their data and realise the need to access integrated data products at scale to solve full-funnel problems.

With a data-driven, omni-channel approach, marketers can connect all channels, formats, and devices, allowing for a seamless, personalised user experience which is unified across consumer devices.

Are agencies really harnessing the power of data to the full extent yet?

It is definitely increasing across regions, but there is still a significant way to go before agencies realise the true potential of the data that is at their disposal. In many cases, available data is not being used to its full capacity, or brands and agencies are aware, but they have not made a complete shift to a data-driven approach yet. This is often the result of a lack of understanding and expertise around the complexity or technical implementation of data-driven marketing platforms.

Yet, brands and agencies that have implemented a data-driven approach have already experienced better audience targeting, faster and more efficient execution, real-time optimisation, and of course increased marketing ROI and tangible business results. This is only the beginning, as data-driven marketing continues to take main stage and agencies and brands continue to jump on board.

With the right knowledge, partner and technology, agencies and brands will be able to harness programmatic marketing in their practice (if they have not done so yet) to gain strategic and real business advantages.

 How much data is enough?

A recent body of work that MediaMath produced together with the CMO Club revealed that a little over a quarter of companies hand all their data over to their agency of choice, and more than a third limit the amount of data their agency can access.

This means that the majority of agencies are working with only the information that their clients provide, or in combination with third party data. Essentially, it is incumbent for marketing leaders to decide which data sets are relevant to their marketing strategy and where to draw the line between providing third-party access to relevant information for data-driven insights and retaining information that might be sensitive or unnecessary. Generally, as long as the data is relevant, provides a direct line into the sales journey of each consumer and covers each touch point along their journey to market, it will suffice.

As the volume of data increases and technology becomes more advanced, agencies can become the predominant strategic partner for brands by creating a holistic, privacy-friendly strategy around technology, data and measurement.

Is any one data source more important than others?

Each data source must be used in conjunction with others in order to provide a complete, unified end-user experience. A cross-device campaign can best incorporate data from all sources available and extend them across a multi-channel campaign. For example, one of our clients – a large online gaming business – had faced issues with re-engagement of single log-in players, and was looking to expand reach and find their most valuable users in an optimal way. By employing cross-device marketing, the company was able to double response rates, with 24 per cent of conversions from multiple device users, while generating 17 per cent more revenue.

This shows the effectiveness of a cross-device campaign, as it allows for holistic behaviour profiling, which in turn leads to a higher audience find rate, more efficient marketing spend, and ultimately more accurate analytics for reporting and re-marketing.

What are the most important actions that an agency should be focusing on?

As programmatic moves into new territories in TV, audio, print, and native, agencies have to understand the various data sets using an integrated platform to generate actionable insights that can improve marketing ROI and lower CPA.

User data is what powers the marketing that allows brands to reach and engage with consumers on a one-to-one level across channels, formats and devices throughout the customer life-cycle, though there is still a need for technical convergence and message coherence across channels as viewed from a consumer perspective. These inputs should then be applied to those across multiple devices and channels.

With the insights generated, invest in the customers that you know have the highest value, and develop relevant and engaging campaigns. That is the key to success and most important thing that agencies should focus on.

Please login with linkedin to comment

Latest News

Sydney Start-up Muzaara Partners With Commission Factory To Turbocharge Digital Ad Spends
  • Advertising
  • Marketing

Sydney Start-up Muzaara Partners With Commission Factory To Turbocharge Digital Ad Spends

Sydney-based adtech start-up Muzaara has announced a new strategic partnership with performance marketing platform Commission Factory. Together, Muzaara and Commision Factory are providing SMEs with a secret weapon to skyrocket their online brand visibility and effectively manage and maximise their online advertising campaigns. This partnership will allow both online marketing companies and their impressive roster […]

Kellogg’s Creates AR Halloween Trick Or Treat Experience Via Shazam & Orchard
  • Campaigns
  • Marketing
  • Technology

Kellogg’s Creates AR Halloween Trick Or Treat Experience Via Shazam & Orchard

Breakfast cereal manufacturer Kellogg’s has joined forces with Shazam and digital agency Orchard to deliver a first-of-its-kind augmented reality (AR) Halloween Trick or Treat experience for families. The campaign, which leverages Shazam’s visual recognition platform and recently-launched AR platform, sees Kellogg’s pilot the replacement of physical gifts in cereal packs with a digital experience that […]

Kraft Heinz Appoints Cummins&Partners As New Creative Agency
  • Advertising

Kraft Heinz Appoints Cummins&Partners As New Creative Agency

Kraft Heinz today confirmed the appointment of Cummins&Partners as its new Creative agency after an extensive pitch process. They will be responsible for brand strategy and integrated creative across the expanding Kraft Heinz portfolio including Kraft, Heinz and Golden Circle. A Kraft Heinz spokesperson said: “After an exhaustive search involving a competitive pitch, we have made […]

Patrick Delany (CEO, Fox Sports), Hugh Marks (CEO, Nine Entertainment Co), Miranda Devine (Columnist, News Corp), Michael Miller (Executive Chairman, News Corp Australasia), Grant Blackley (CEO & Managing Director, Southern Cross Austereo) at Radio Alive 2017
  • Media

Media Bosses Weigh In On Ten-CBS Deal

Do you enjoy articles featuring industry big-wigs? Well, it doesn't come much bigger and wiggier than this, we say.

by B&T Magazine

B&T Magazine
Kantar TNS’ Ali Dexter Joins T Garage As Director Of Insights & Strategy
  • Marketing

Kantar TNS’ Ali Dexter Joins T Garage As Director Of Insights & Strategy

Melbourne-based market research consulting agency T Garage has announced the appointment of Ali Dexter as its director of insights and strategy. Dexter joins T Garage from Kantar TNS, where she was the director of its Qualitative division. Prior to that, Dexter held a number of senior roles at Kantar TNS in the US and Vietnam.  “After […]

XXXX on Tuesday, March 21, 2017, in Las Vegas. (Jeff Bottari/AP Images for Adobe)
  • Advertising

Adobe Releases Advertising Cloud App

Not one, but two Adobe announcements. The tech elves have been busy this week, not that we're inferring Adobe is Santa.

Facebook Updates Its VR Offering
  • Technology

Facebook Updates Its VR Offering

Do you loathe Facebook for nicking all the ad cash? Well, why not scream "A pox upon you Zuckerberg" while reading this.

InterContinental Perth City Centre Chooses Bonfire To Build Digital Strategy
  • Marketing

InterContinental Perth City Centre Chooses Bonfire To Build Digital Strategy

Luxury hotel InterContinental Perth City Centre is officially set to open this Sunday, and has already taken strides towards developing a comprehensive online search strategy with digital agency Bonfire. The investment reinforces the desire of the hotel to promote its luxury business facilities, which include corporate and bespoke event spaces designed for local, national and […]

Datalabs Announces New Hire And Promotion
  • Marketing

Datalabs Announces New Hire And Promotion

Aussie data visualisation and content marketing analytics agency Datalabs has announced the appointment of Marc de Chellis to run its business development, as well as the promotion of Cass Lilley to accounts and project manager. De Chellis (pictured above, second from the left) joins Datalabs from Launchpad App Development, where he held the role of […]

OLYMPUS DIGITAL CAMERA
  • Advertising

Inskin Grows Sydney Team With New Designer

Digital advertising provider Inskin, continues to expand its Sydney team, hiring Marc Gundesen as a junior digital designer. Gundesen (pictured above) brings a breadth of skills in web design, animation and account management, and will report to Inskin’s lead designer, Jay McCalla. He joins Inskin from Budgy Smuggler, where he worked as a graphic designer, […]