If 2018 was the year that everyone in the industry bought into (or in some cases at least tested) location data, then 2019 will be the year that the best of the best shine through. Expect to see some consolidation in the space and, as a result, a raising of standards, more transparency, and a laser focus on proving ROI. Here’s my take on the year ahead.
Measurement Still Matters
Measurement was a big focus this past year, and we saw a number of solutions appear in the industry. In 2019, however, we will begin to see a decluttering of the space. As marketers demand more transparency around measurement tactics and the quality of results in order to better understand their campaigns and the associated ROI, there will be a natural consolidation of measurement solutions and a raising of standards. Marketers will look for data providers who can seamlessly integrate into the platforms through which they’re already buying media, making it possible to measure and optimize campaigns in real time rather than wait for weeks post-campaign to get any relevant data.
Brands Continuing The In-House Move
Brands, looking to gain more control over their media buying decisions, are continuing the move in-house, though it’s been a slower and more difficult process than had been expected. While large brands with ample resources have been building teams rather quickly, companies are struggling with the challenges of attracting top talent and putting the right technologies in place. While brands fine-tune this process, we will see them turning to intermediaries and digital programmatic experts, such as MightyHive, Jellyfish, The Goodway Group, and MiQ to help transition control while leaning on these pros for programmatic expertise and trading.
New Channels Will Embrace Programmatic
While most online and mobile media are already being sold programmatically, we’re beginning to see newer channels like digital out-of-home, advanced TV and even radio move in that direction. In 2019, we’ll continue to witness this media-buying transformation, and it will be interesting to see the effects that multi-channel attribution and the accessibility of higher quality data have on fast-forwarding this transformation.
All Eyes on ROI
The down side to data being quite literally everywhere nowadays is that brands are having more and more difficulty filtering out important information. As we move into 2019, we’ll see brands looking for more ways to measure not just the quality of their data but the quality of their data providers as well. They’ll be reducing the number of partners they work with, focusing only on those who can help push their businesses forward and translate their data-driven marketing efforts into quantifiable ROI. So many partners have told us that they are evaluating and shrinking their data partnerships in 2019 to the partners who drive the most value and ROI.
It’s exciting to witness the evolution of data and location within advertising, and I can’t wait to see where we are at the end of 2019. Happy new year, everyone!