1. Begin to Adopt a Performance-Driven Mindset
How to Prepare
This may seem like an unwelcome change. However, if you can connect your offerings to impacts on bottom funnel KPIs, you can stabilize and scale revenue streams while ensuring higher rates of business renewal. This may seem like an unwelcome change. However, if you can connect your offerings to impacts on bottom funnel KPIs, you can stabilize and scale revenue streams while ensuring higher rates of business renewal.
2. Plan Hyper-Targeting Initiatives to Boost ROI
The demise of the third-party cookie and the ever–evolving data privacy changes continue to have an impact on the cost of media buys and customer acquisition. One central theme that is overshadowing the rising customer acquisition costs is the need to build meaningful relationships with modern consumers.
As advertising networks shift their focus towards bottom-funnel performance-based metrics and data aggregation, and consolidation via Customer Data Platforms (CDPs) creates more actionable and high-quality consumer data within databases. As a direct result the breadth of audience reach will shrink which may seem like a step backwards. However, the rich, in-depth data these CDPs will house will enhance the quality of consumers reached.
How to Prepare
3. Consider Ways to Integrate Automation Into Your Processes
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4. Develop an Omnichannel Marketing Strategy
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5. Consider Customer Interaction When Crafting Creatives
How to Prepare
Encourage your customers to interact with your brand on social channels by creating hashtagged video reviews. This kind of organic, customer–driven campaigns creates buzz that many well-planned and designed marketing creatives and campaigns cannot. The power of word-of-mouth advertising for the modern era, if you will. And a great tactic to build trust between your brand and your targeted audiences.
In addition to organic consumer–driven campaigns, many brands are leveraging influencers within their marketing strategy to increase brand power and reach. In fact, some brands may see benefical results from combining these two methodologies. What consumers want is information about products from a trusted source, and they value the opinons of their peers more than anything else. The key is getting those user–driven messages to key audience bases when, where,and how they will see and interact with them. Start by leveraging influencers and loyal customers as reviewers and promoters of your brand across social networks via video and live streaming to raise the profile of your brand and garner more buzz.
Encourage your customers to interact with your brand on social channels by creating hashtagged video reviews. This kind of organic, customer–driven campaigns creates buzz that many well-planned and designed marketing creatives and campaigns cannot. The power of word-of-mouth advertising for the modern era, if you will. And a great tactic to build trust between your brand and your targeted audiences.
In addition to organic consumer–driven campaigns, many brands are leveraging influencers within their marketing strategy to increase brand power and reach. In fact, some brands may see benefical results from combining these two methodologies. What consumers want is information about products from a trusted source, and they value the opinons of their peers more than anything else. The key is getting those user–driven messages to key audience bases when, where,and how they will see and interact with them. Start by leveraging influencers and loyal customers as reviewers and promoters of your brand across social networks via video and live streaming to raise the profile of your brand and garner more buzz.
6. Adapt Data Strategies to Meet Market Demand
Constantly evolving data compliance regulations coupled with the privacy changes brought forth by Google and Apple are changing the way data is viewed and leveraged. These changes are especially prevalent within the publishing and streaming media industries, where leveraging customer data as a selling point is the standard.
To adapt, many marketing teams are leveraging CDPs to streamline their data collection and management across all of their data sources. Brands leveraging media ops and advertising as a revenue stream will need the ability to provide their advertising clients connectivity to data without oversharing or putting data privacy at risk.
Some larger walled gardens have developed solutions for this via “CDP Adjacent” systems. However, we are still in the early days of developing an overarching solution for the wider media operations and advertising industries.
How to Prepare
7. Prepare for the Rise of the Metaverse
While the concept of the Metaverse can seem a bit overwhelming, the outcome of implementing streamlined universal digital identities for users across platforms and software can be beneficial for users, marketers, and advertisers alike. As the transition to first-party data collection methodologies takes hold within marketing strategies, the need for unification of fragmented data to build user profiles becomes necessary.
If the Metaverse concept becomes commonplace, the way with which we share, collect, and aggregate data will become more streamlined, allowing for deeper customization of marketing and advertising initatives. In addition, the Metaverse is poised to enable consumers to dictate both the depths at which they share their data and tailor how, when, and where they would like to receive personalized content. As a result, implementation of the Metaverse will simplify omnichannel strategy and implementation across the board for digital marketers, and advertisers granting easier access to their most relevant audiences and streamlining the data and reporting processes.
How to Prepare
Proceed with Confidence
The future of media operations and advertising is ever-evolving, especially into the endemic era. Adopting a performance-driven mindset, utilizing automation to scale business output, and building robust omnichannel strategies will allow media and marketers to leap into the unprecedented future with confidence. Keep these predictions in mind and begin putting plans in place to ensure a seamless and successful transition into the looming Metaverse. As we look back on the progress that has been made over the past few years, we can predict a bright future full of even more opportunity in the media operations and advertising industry.
