Location data shined bright in 2017, with marketers, advertising agencies and technology companies using it to create more personalized experiences leveraging location for their brands throughout the year. Now that everyone has gotten their hands dirty, it’s time to use 2018 to refine the process. Expect to see some big changes in location data and across the industry in general. Here’s my take on 2018.
1. MEASUREMENT MATTERS – We will see more brands and agencies push for campaign transparency so they can analyze their efforts and optimize accordingly. Better measurement solutions are available in the industry and they will continue to improve the increased demand for transparency. Solutions that provide real time data and optimization opportunities will be be at the top of marketers’ lists so they can optimize every dollar.
2. A BIGGER FOCUS ON DATA QUALITY – If 2017 was the year of decoupling data and media then 2018 is the year that brands and agencies push for data quality from their providers. Quality data is hard to come by and marketers will weed out the good from the bad, choosing their data providers more carefully, and figuring out what works. Expect your clients to be more hands on and to hear questions like the following:
- Is my first party data as valuable as I think it is?
- What types of 2nd or 3rd party data do I want to work with and for what tactics?
- How do you build your data? Where does it come from?
- What’s my process for testing data sources. Who do I need my DMP to work with?
3. BRANDS CONTINUE THEIR MARCH TOWARDS TRANSPARENCY AND WILL BE MORE INVOLVED WITH THEIR MEDIA DECISIONS AND PARTNERS – Expect to see brands continue to build out in-house marketing and technology teams to for control and efficiency. We saw the beginning of this trend in 2017 and will continue to look to the movers and shakers of brands building out full programmatic teams. Brands are interested in diving deeper and executing more independently. It will be interesting to see how this develops over time and how the ecosystem will adjust.
4. BUYING ON AUDIENCES VERSUS BANNER SIZE – You’ll see less focus on the format and more on the consumer, so marketers can reach people wherever they are. I place all my bets on video — video will be king. The standard banner will disappear and it will be all about interacting with the user. Brands need to know who their consumers are and what’s important to them.
The only constant in advertising is change. I’m excited to see where we will be at the end of the 2018. Happy new year folks!