Which 50? Has The Datafication Of Advertising Finally Killed Off Adland’s Favourite Slogan?
Undoubtedly one of the most overused slogans in marketing’s and advertising’s history is John Wanamaker’s iconic “half the money I spend on advertising is wasted; the trouble is I don’t know which half”.
And it’s a credit to the quip’s longevity that last year the line celebrated a real milestone – its 100th birthday.
But in these data rich times, does the fabled “which 50?” line still ring true?
Wasif argues in this era of the datafication of advertising, Wanamaker would have all the technology and sophisticated tracking and monitoring methods he would need to measure the ROI or ROAS accurately and precisely on every single cent he spent on his marketing budget.
“That’s what we mean by the datafication of advertising,” Wasif tells B&T.
“It can simply be defined as the ability to track and monitor key metrics through the use of technology that are important to demonstrating and defining the success – or failure – of all marketing efforts be they offline or online.
“It also means that you can use these same technological means to improve and optimise your advertising efforts in real-time and in future campaigns,” he says.
For example, the tech giants have been using datafication to successfully target us all with ads for some time now. Which isn’t really surprising given the fact we provide them with so much information and touchpoints every time you use the likes of Google, Facebook, Twitter and LinkedIn.
Wasif adds: “This has helped marketers improve the quality of their targeting selections and improve the quality of marketing efforts.”
Yet, one problem that just won’t go away for datafication is around user privacy. A classic example of that was in early April when a Facebook hack exposed 550 million users’ information, including seven million in Australia.
Wasif believes that the industry will never truly get on top of privacy issues while government legislation continues to significantly lag the speed of the new technologies.
The arrival of things such as the EU’s GDPR and the removal of third-party cookies will impact the datafication of advertising until the software companies invent ways to circumnavigate it, Wasif says.
“A big hurdle is having all the big players – ad networks, ad servers and exchanges, social networks, data suppliers, etc – working together to form a standardised solution,” Wasif adds. “If not, then the end result will be having differing solutions adapt and try to communicate with one another to provide end users with a compromising solution that won’t be good for the industry.”
But ultimately big data “will become hugely important to organisations” over the coming decade, he adds.
Brands will be able to “harness the power of these large data sets to inform their business and advertising decisions.
“Along with big data, I believe that personalisation will be a main driver of advertising success as companies will develop capabilities using first party data to cater to their customer base. It is already happening as we can see brands build loyalty programs and paying a monthly premium to get exclusive features,” he adds.
Wasif’s tips to help improve your first party data strategies include:
- Understand the solutions available in the market and prepare for the inevitable loss of some data by investing in alternatives. Work with your providers and networks to form a viable solution that fits your business needs.
- Develop a data strategy and maximise the use of your web analytics (decide what data is important and essential to your business, actions taken on your website, apps)
- Get your data sources and collecting that data in order (CRM, lead forms, social channels, emails, customer feedback, instore purchases, loyalty programs)
- Look into investing into a CDP that will help unify your customer and first party data as well as help you activate the data you have collected via your marketing efforts
- Link your offline and online data
- Finally, use all your first party data sources to segment your audiences
Not that data should be the be-all and end-all of your marketing smarts.
As Wasif explains, brands that place too much importance on data are at risk of losing that “gut” feeling that gives most marketing its creativeness and originality.
“At Tug we have been communicating with clients since early last year to prepare them for the eventual changes in tracking and tagging solutions to overcome the loss of some data due to these industry wide changes,” Wasif says.
“To that extent, we are working closely with our clients to build their first party data, get their analytics and data collection points in order as well develop their audience segmentations. While some of the solutions we are trialling is still in their infancy we are making headways in being prepared for the cookieless future,” he concludes.
Please login with linkedin to comment
Tug AgencyLatest News
Revium Snags Peter Bauld From Deloitte Digital
Revium, a leading full-service digital and AI consultancy, has announced the appointment of Peter Bauld (lead image) as Executive General Manager. Revium is a full-service digital and AI consultancy with over 20 years of experience creating engaging digital experiences for leading organisations and their customers. Bauld joins Revium after an illustrious career spanning over two […]
EMG/Gravity Media Names New Managing Director
The makers of Australia's Got Talent has been a magnet for senior hires in recent times.
Opinion: Shark Tank’s Sabri Suby Slams Politicians Jumping On TikTok Ban Bandwagon
Are politicians actually scaremongering about TikTok or just fed up of you doom-scrolling in the work bogs?
TV Ratings: “Ivana Was Robbed” – Final Three Contestants Revealed On Australian Idol
B&T's unsure if these Idol contestants look extra young or whether we are as old as we feel.
Veridooh Snatches Prashand Menon From ScentreGroup
Out-of-home OOH) and digital media leader Prashand Menon (lead image) has joined OOH ad tech company Veridooh as group business director within NSW and QLD. Menon joins Veridooh from his most recent role as ScentreGroup’s group business director and brings with him more than 10 years of experience in Australian media. Previously, he held positions […]
Creative Content Studio OK COOL Answers APAC’s Call, Opening In Melbourne
Life set to get extra confusing for new agency staffers mistaking OK COOL for a pass-ag housemate text message.
Harry’s Cafe de Wheels & Hipages Launch New Pie To Fuel Tradies While On The Tools
The pies should apparently be better for tradies' health, apparently but won't be better for on-site ribbing.
Women Leading Tech’s Woman Of The Year Megan Dalla-Camina: What’s The True Cost Of Cutting DEI Spending?
Cutting DE&I spending might seem easy but you might change your mind when faced with Dalla-Camina's ire.
Thrive Introduces A Batch Of New Senior Leadership Roles
You could say that Thrive is set to thrive with these new hires. But that would be too obvious.
It’s Coming Home! Sponsors Make Subbuteo World Cup Finals Free
No idea what Subbuteo is? You clearly had a more exciting childhood than our editorial team.
Media Bigwigs Bet On Predictive Intelligence Platform Prophet In $5M Seed Funding
Prophet, profit, geddit? Must be laugh-a-minute in this startup's office.
CommsDeclare Brands Shell Energy An “Olympic Gaslighter” & Urges Agencies Not To Pitch For Creative Account
And we thought the gaslight Olympics took place in the Coogee Bay Hotel smoking area!
AFL Wins Battle With Warner Bros. As New AFL Team Is Revealed
There hasn't been this much wrangling over a cartoon animal since, well, ever!
BBC Podcasts Go Global With Amazon Music
Ironically, BBC podcasts unlikely to be available in the Amazon given the lack of signal.
Johnson & Johnson’s Former Consumer Healthcare Arm Reviews Creative
J&J inspired by Scottish term for knowledge 'ken' in its rebrand; nothing says 'wise' like a shot of Listerine.
Kat & Co Transforms Into THE WORLD OF Experiential Agency
After more than twelve years of producing experiences for some of the world’s most innovative brands, including Hermes, Van Cleef & Arpels, Louis Vuitton, and Tiffany & Co, Kat & Co has quietly metamorphosed into THE WORLD OF. THE WORLD OF is an experiential agency at the juncture of culture, technology and the human condition. […]
Adobe Brings Firefly Generative AI Into Substance 3D Workflows
Still unclear of what generative AI actually is? Steer clear of this story.
Clemenger BBDO Introduces Saucy Campaign With Declan Cleary & Lee Kum Kee
When we heard this was a saucy campaign, we thought it be the barbecue and ketchup showdown we'd been waiting for.
Gawk Acquires 40 Billboard Locations From Transad
Gawk makes it move out of VIC into NSW with acquisition. Has promised to stop going on about Melbourne nightlife.
All About Attribution: Commission Factory Releases New eBook
Ever wanted to dive deep into channel attribution? Consider this the perfect springboard.
SMG Studio Launches Risk: Global Domination X Dune Part Two
Through a licensing agreement with Legendary Entertainment, SMG Studio inked the rights to adapt Dune: Part Two into a game based on Risk: Global Domination, Hasbro’s interactive board game. Inspired by Denis Villeneuve’s cinematic masterpiece, Dune: Part Two, this new digital adaptation, RISK: Global Domination X Dune: Part Two, is poised to captivate players from […]
RMIT Study Reveals That 73% Of Employees Don’t Believe Gen AI Is Relevant
Noticing staff switching off when you tell them about gen AI? Understand why here.
Australian Eggs Launches Egg-citing New Campaign Via Connecting Plots
How do you like your eggs in the morning? We usually skip them and go straight for the darts and whisky.
Future Lions 2024 Invites Young People To Be Heard With Spotify
Future Lions, of course, is the AKQA-backed student initiative at Cannes Lions, not a feeder for the rugby team.
QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market
Taylor Swift, Lunar New Year and the Sydney Gay and Lesbian Mardi Gras Festival have had a dramatic impact on the number of people moving in and around Sydney over the past month, drawing big crowds into the heart of the city and its surrounding suburbs. New data from digital outdoor company QMS reveals a […]
Legend John McEnroe Joins Pepperstone’s Team Of Global Tennis Ambassadors
Despite the deal, McEnroe remains confused about difference between above- and below-the-line marketing.
LinkedIn Launches New Thought Leader Ads For Companies To Promote Member Posts
Though LinkedIn couldn't get any more insufferable? You thought wrong.
Latrell Mitchell Smacked On Wrist After Dropping Multiple F-Bombs In Post-Match Triple M Interview
Andrew Abdo has confirmed he is not angry... just disappointed.
TV Ratings: “When You Do Love Yourself, You’re Amazing” – Is This MAFS Most Heart-breaking Split?
Hold the press. MAFS groom and bride actually shown to be nice people.
Opinion: The Only Drag Marketers Should Be Worried About
Thought Transactional Drag was a lifeless club night in Newtown? Read this and you'll think again.
AWARD School Welcomes Class Of 2024
It's best to think of AWARD School like Survivor but with pitch decks instead of swimwear.
Interest In Motorsports Reaches New Heights As Formula 1 Grand Prix Revenue Expected To Surpass $100 Million
Need to get a dull sports client some quick results? Rustle up a Netflix series and watch the dollars roll in.
Chair Rob Murray To Depart As SCA Considers ARN’s Latest Takeover Bid
Struggling to make heads or tails of the SCA & ARN saga? Add this to your woes.
Adland Legend John Singleton Separates From Seventh Wife
Singo calls it quits with seventh wife as his race with Rupert Murdoch to become the most-married man continues.
ACCC Eyes Search Competition, Citing ‘Decreasing’ Quality & Rise In Generative AI
The only decline in search quality we notice is when B&T doesn't appear at the top of Google.
“Imagine A Career Above The Clouds”: Royal Australian Air Force Launches New Campaign Via VML
Don't worry about the forthcoming war with China - at least you'll get a bird's-eye view of the apocalypse.