Brands Beware: Diversity Is The Key To Managing Big-Tech Threats And Changes
As the industry prepares for Apple’s highly-anticipated iOS14.5 changes, SAVV Digital’s founder and managing director Rani Arsanios [pictured] shares his advice for navigating the unknown when it comes to tech giants.
The tech giant threats – and short-lived action by Facebook – spooked many businesses. Today’s roll out of Apple’s App Tracking Transparency feature on iOS14.5 further highlights the need to take stock of your brand’s digital strategy.
The tech-frights should also inspire brands to review how dependant they are on these platforms, which they have no control over, despite how much they spend on them.
Whilst Apple’s move to ask users for explicit permission for mobile apps to track them is perhaps better for user privacy, many mobile apps and advertisers will be significantly impacted. So much so, that companies and startups like Bumble are greatly concerned. This is a great reminder of how one move by a tech giant can impact the success and survival of businesses.
The fundamentals of online marketing and advertising were shaken when Facebook shut down countless media feeds and Google also threatened to withdraw search. The looming Apple changes compounds the urgency to act. These events foretell future online risks and demonstrate that the landscape can change quickly. Businesses need to be prepared for such risks and start mitigating them today.
As the threats were brewing, I amplified my age-old message to clients that they should diversify their marketing efforts and budgets. I know businesses are definitely listening now, and are developing strategies that include alternative marketing channels.
Diversity must be a marketing value
Finding diversity in the face of virtual monopolies is difficult, but not impossible, and we should all be thinking about how we can effectively work with channels that complement big tech. Traditional media is a good place to start, but there are other avenues and rising digital channels too.
Peter Strong, CEO of the Council of Small Business Organisations Australia, takes the view that ‘competition is central to a healthy economy and if monopolies face no real competition, they must be well regulated. At the same time, diversification reduces risk, and so it’s never a good idea to become dependent on a single platform, supplier or customer. These things don’t change.’
Moreover, even though we all think that diversity drove the Internet, today, that is no longer the case. Data scientist and author of Online Gravity, Paul X McCarthy, says that contrary to what most people think, long-term research shows the web is becoming less diverse. McCarthy told me, ‘We observed that a smaller number of organisations account for an ever-increasing proportion of total user attention, usually with one large player dominating.’
Invest in building up your own channels
Diversifying in the digital marketing space has always been a topic marketing executives talk about. Yet, for some brands, it was not more than a ‘nice to have’. Today, it’s a must-have. It’s unlikely that the tech giants will pull out of Australia, but the reality is, there are major red flags that should make every business consider their marketing strategy and the short-term and long-term risks of not having a truly diversified marketing approach.
My view is that in the threats we saw a political flashpoint and a compromise was reached. Looking at the changes Apple is making, we will see a lot of iPhone users elect to opt out of tracking – with some estimates going as high as 70 per cent. Perhaps the opt-out rates will not get that high, but targeted advertising is going to become more difficult.
Regardless, we should all be seeing these changes as an opportunity to invest in new channels and marketing capabilities. The goal must be to develop stronger value proposition, more points of differentiation, and more sustainable customer acquisition strategies.
If 80 per cent of your business is coming from one online source, an alarm should be ringing. The risk can come from anywhere, especially competitors. Your goal is to have a diversified portfolio that brings maximum returns.
There’s never been a more complex digital landscape. The opportunities and potential are beyond what most marketers think. So, next, focus on customer retention and customer lifetime value. A dollar spent on a happy, returning customer will almost always bring more money than a dollar on a prospect that knows nothing about you.
To me, it is a time to be even more creative. Innovation often arises in the face of adversity. Experiment with new tactics, including collaborations with traditional news sites and other non-competing businesses, in ways that benefit both parties.
Finally, invest in ‘virality’. Granted, it takes time and typically requires trial and error but when it does work, you hit the jackpot. Rather than investing all your marketing dollars in ads, allocate more funds to creative content that can go viral and catapult your brand forward.
At the very least, look at your marketing strategy as a forever evolving journey that needs you to be proactive and vigilant at all times.
Latest News
Enjoy A Hahn Solo… And May The Fourth Be With You
This May the fourth Hahn will celebrate alongside Star Wars fans rewarding their passion via a giant Hahn travelling solo through the sky. It’s the one day of the year when all sci-fi fans rejoice and giggle to themselves and Hahn in partnership with Thinkerbell, UM and Affinity is celebrating with an out of this […]
DMARGE Founder Unveils Creator-Led Social Media Agency Feedstar
New creator-led social media agency Feedstar to be aimed directly at Gen Zs. Well, they'd hardly want print, would they?
TV Ratings (02/05/2024): A total of 1,753,000 Aussies Witness Port Adelaide’s Defeat
Seven's AFL numbers almost double that of the NRL last night. The NRL still easily winning for ruptured ACLs.
Hotglue Cashes In With La Trobe Financial Digital Media Account
Hotglue staffers learning their cashflows from their collaterals today after nabbing La Trobe Financial's digital media.
M&C Saatchi’s Sydney Creative Lead Exits
B&T's stopping short of calling it a revolving door at M&C at the present, but there's definitely heat on the hinges.
Taylor Swift’s Music Re-Enters TikTok As Universal Pens Landmark Deal
Yes, B&T may have spent 152 hours failing to get Taylor Swift tickets, but, as you'll read here, it's all behind us now.
HAVAS Red launches inaugural Influencer White Paper
Havas Red has debuted its first influencer white paper. Unless you print it out in colour, of course.
Two Sides Global Campaign Reports Increasing Greenwashing As Organisations Focus On Sustainability
New report confirms greenwashing's on the rise. Apparently Mars' 'work, rest & play' claims also under investigation.
Aruga Launches New HQ & Changed Ownership Structure
PR agency Aruga proves Brisbane is 'so hot right now'. So hot in fact, Adelaide's had to go on anti-anxiety meds.
Delicious & American Express Partner To Launch Month Out 2024 In Sydney
Cost of living got you eating noodles prepared in the two-minute style? Why not live vicariously through this.
Aussie Ad Market Continues Decline In March
The belt-tightening in adland shows signs of a turnaround soon. Bar the belt-loosening at the all-you-can-eat buffet.
VMA Focuses On Skills And Training For Members
If there was a post-COVID hangover (bar the anti-vax ranters) it was the rise in skills shortages. Here's another one.
Nearly 90% Of Consumers Want Transparency About AI Images, Finds Getty Images Report
Study finds consumers want transparency around AI images. Couldn't care less about photoshopped magazine covers.
The National Breast Cancer Foundation Partners With VML To Boost Funds
Anyone else feel we've exhausted the office morning tea for cancer? B&T proposes the office moonshine still instead.
Perry ‘Pez’ Lazaris Named New National Hit Network Announcer
Why is it mandatory for the media to only publish the nicknames of people in radio & underworld crime figures?
Before Adland: Garry Dawson’s Journey From Teacher To Marketer
Here, the Hopeful Monsters marketer talks his shift from the classroom to the room wherever marketers congregate.
Scott Cam Urges Tradies To Prioritise Sun Protection
The Block host promoting sun protection to tradies. Also, don't try getting into the RSL after 6pm wearing high viz.
PubMatic Study: Advertising On Retail Media Is 50% More Effective Than Social Media
New study finds retail media 50% more effective than social. B&T says two-for-one Tim Tams trumps the lot.
From MOWING to life GROWING: Jim Penman launches ‘Life Coaching’ services
Can't decide on getting the hedges trimmed or finding a deeper meaning to life? You're in luck with this new venture.
Budweiser Brazil Turns Songs That Name Drop The Iconic Brand Into Spotify Ads
It's strange that Budweiser never found a market among beer-swilling Aussies. Then again, neither did the fluffy duck.
Effie Worldwide Strengthens Board With 6 New Members
B&T hopes everyone's wearing their Maseur sandals at the Effies, as it's standing room only at the next board meeting.
Special Enlist A Penguin Named Nigel In Latest Energy Campaign For Contact
Special unveils Nigel the penguin in work for energy provider Contact. Apparently Percy the peacock was booked.
Anya Taylor-Joy, Chris Hemsworth & George Miller Ignite Sydney For Epic Mad Max Launch
The Mad Max film franchise is Australia's cinematic gift to the world. That & Chris Hemsworth's near perfect cheekbones.
IAS Launches First-To-Market Integration With Roblox To Provide 3D Immersive Measurement
Always thought you could do with better 3D immersive measurement? Happy days are ahead here.
Fast And Furious: Top Gear Australia Launch Thrilled Motorheads, Car Entusiasts And Guests
B&T is still no closer to knowing who the new Stig is, except that she is a woman and a ridiculously fast.
TV Ratings (02/05/2024): Seven’s The 1% Club Wins The Night
The 1% club did not live up to its name when it comes to TV ratings last night.
TRA Welcomes Raft Of New Hires; Bolstering Expertise Across Markets
Insights and research agency TRA announces slew of new hires. Still no news on the return of marble wash denim, however.
CX Lavender Hires Boston Consulting Group’s Kim Verbrugghe as Chief Strategy Officer
CX Lavender announces new strategy hire and channels 'acoustic folk act at local RSL' for the publicity pic.
Opinion: Community standards, will they be the death of us?
This columnist is talking community standards. Sadly not those people who put dogs in trolleys in supermarkets.
Tegel gets heads bobbing with new free-range chicken platform
Sure, there's a lot of moral considerations when buying a chook. Yet, not as baffling as buying eggs or canned tuna.
Study: 66% of Aussie men believe masculinity is under attack
Two-thirds of Aussie blokes say masculinity's under attack. That said, sales of Solo lemon drink appear robust.
‘Equal Writes’: Canyon reveals new campaign and refreshed brand for women and non-binary writers
As this brand redesign again proves, nothing beats black on white. Well, white on black in this instance.
Icon Agency bolsters consumer and integrated offer with major hires
Icon Agency unveils new recruits. As press photo confirms office moustache competition now a lay-down misère.
Clemenger launches agricultural graduate program
Has Farmer Wants A Wife triggered an interest in dagging & hay balers? This grads program may resonate.
Levi’s Appoint UM As Global Media Agency For $217m Account
Levi's are the jeans for rockstars, models & the cool kids. Although that's not stopped dads from ruining their image.
QMS Nabs Sean Rigby From oOh!media
Things set to get spicy at the next Outdoor Media Association dinner and dance as a rival gets poached.