The marketing landscape in Australia and in the greater Asia Pacific region continues to be dynamic and demands new personalised experiences. The rise of mobile use, for one, has revolutionised the way consumers interact with technology and share information. This has led to an explosion of digital footprints – both in the offline and online worlds.
LiveRamp provides brands and partners an identity platform to connect people, data and devices to power better customer experiences. Recently, Factual partnered with LiveRamp’s IdentityLink Data Store to provide advertisers with over 30 syndicated audience segments for Australia. Our Senior Director of Agency & Strategic Partnerships, Arti Shah, spoke with Dean Capobianco, Managing Director of APAC Emerging Markets, LiveRamp to discuss key digital marketing trends in the region and what more to expect from LiveRamp’s IdentityLink Data Store future forward.
Arti Shah: How did that impact the recent launch of IdentityLink™ Data Store in APAC? What was the primary driver in launching an APAC focused data store?
Dean Capobianco: To clarify, data store is an updated feature to our existing IdentityLink™ product offering. Data buyers can access over 180 ethically-sourced data providers globally all within a single contract and explore customised data sets that are tailored exactly to their goals and audiences. This allows for a more efficient way to source data whilst offering a customised experience.
The key driver for the launch is the fragmented marketplace for data buyers and sellers today. This is evident not just in Australia but in the entire Asia Pacific region. IDC forecasts that by 2025, the global data sphere will grow to over 10 times the amount of information generated in 2016. The exponential growth of data means that the diversity of data sources will only continue to grow, leading to serious data and market fragmentation. Marketers will struggle with cross-device identity and understanding how they can meaningfully and accurately map a consumer back to a specific touchpoint.
Our goal is to help unlock and connect data silos through one single platform in a privacy safe environment. LiveRamp’s IdentityLink™ Data Store aims to meet the demand we’re seeing from marketers locally and globally, who require people-based data and want the flexibility to use this data across LiveRamp’s network of integrated partners such as Factual.
AS: By the end of 2018, mobile will claim a 33.0% share of paid media in Asia-Pacific. How has this impacted the role of marketing and what are data buyers looking for in the IdentityLink™ Data Store in this region?
DC: Ultimately, the role of marketing will not change – what’s changed is how marketers adopt different technology to better target their audience. LiveRamp predicts that the marketing ecosystem will go from data-driven marketing to more people-based marketing and put customers at the centre of marketing. What marketers need to do is ensure they secure a strong share of voice via mobile channels to remain relevant to their customers.
Specific to Australia, it boasts a sophisticated advertising market and is maturing very quickly towards people-based marketing. We’re experiencing increasing demand from marketers who require people-based data in all channels, and as quickly as possible. LiveRamp’s IdentityLink™ Data Store is the answer to the demand for people-based data. The store will help data buyers rethink the way they approach marketing and enable more data sourcing innovations to create better experiences for customers.
AS: What are your thoughts on the value of location data in the APAC region?
DC: As marketers start to adopt data-driven strategies, the value of location data becomes more important than before. Marketers can use location data to learn more about customers and their offline consumer behaviour. The struggles brands face today is needing to measure and target visitors to for example, a retail store, product launches or other special events. Using location data and identity resolution will help to track when a customer visits a store or appear at an event to track the success of prior advertising. This data can then be used to retarget the same group of visitors in future campaigns.
AS: How does the use of data differ in APAC vs other regions globally?
DC: Data-driven experiences are key to great customer experiences and this is a common understanding locally, regionally and globally. The way businesses use and access data may differ due to data fragmentation or not having strong data literacy. A recent Qlik survey across the world on data literacy revealed that in the Asia Pacific, only one in five workers felt confident in their data literacy skills, yet two-thirds say they deal with more data in their role than three years ago. That leaves a tremendous gap for those who do not feel data literate: 80% of the working population.
Businesses need to better use data to extract meaningful insights and help with immediate decision-making. Failure to do so can put a business at a competitive disadvantage.
AS: What are the current notable digital trends in the APAC region? What’s on the horizon for LiveRamp IdentityLink™ Data Store in APAC in 2019?
DC: We’re experiencing increasing demand from APAC marketers, who want to get their message to the right target audience as quickly as possible and struggle to do so.
As the adoption of data-driven marketing becomes more critical, we aim to utilize our technology to unlock data silos and activate IdentityLink Data Store in multiple markets across the Asia Pacific region to power the best experiences for our customers’ customers in 2019.
Interested in learning more about leveraging Factual data for marketing? Contact our team today!