Lightening the age of transformation: Our Top 5 Takeaways from dmexco 2017
With GDPR hovering on the horizon and pioneering tech accelerating its disruption of the industry and shifting consumer behaviour, the content at dmexco this year was packed to the brim with wide-ranging and intense discussion. This comprised of both wake up calls and calls to action for the industry to raise the bar and lean in to transformation through better use of data and technology.
But where to start?
Well, let us distil the sense from the chaos with 5 key takeaways from this year’s buzzing digital marketing expo in Cologne…
- Give data privacy the resource and focus it requires
With the conference based in the heart of Europe and 8 different sessions focused on discussing GDPR, it comes as no surprise that one of the dominating themes at this year’s conference was around the immediate impact of changing data regulation on the use of consumer data in the advertising industry.
There certainly seemed to be an air of tension around the uncertainties of GDPR, meaning businesses are having to prepare for the best and worse case scenarios. There were regular calls for members of the industry to work directly with local governments hand-in-hand to ensure the regulation is fair to the customer without impacting on the income of businesses, particularly in the e-commerce sector. The overall sentiment, however, is one of agreement to raise the bar and embrace better standardisation.
Fortunately for Dentsu Aegis Network, we’re well prepared with our recently appointed Global Data Privacy Officer, Mark Keddie — a first among agency holding groups — as well as local scenario planning exercises in Germany where Data Privacy teams are working directly with the government and Brussels as well as lobbying and even contributing to the writing of the regulation.
“We have always had favour for standards, anything that can be standardised makes our lives much easier and makes things less complex, so we strongly believe that the Coalition for Better Ads is a good development.”
— Karin Libowitzky CEO Vizeum Germany
But the message is clear, it’s crucial that brands appoint sufficient resource to manage and prepare for the oncoming changes in data regulation that will undoubtedly have an impact on how businesses run in the digital economy.
2. Innovation & growth can’t happen without strong and varied partnerships
One of the highlights at dmexco this year was P&G’s start up hatch, the first of its kind at the conference, where start ups had the chance to win £20,000 by pitching their ideas to a panel of digital experts and investors. This event is clearly symptomatic of a new wave of partnerships that brands and agencies are embracing to drive better innovation and growth.
Whether a start up, digital platform, charity, educational institution or governing body, there is a clear opening up of exciting partnership opportunities to drive both business growth as well as the distribution of the life-changing benefits of the digital economy to the wider society.
“The Digital Economy has been brilliant at generating wealth, not very good at spreading prosperity. That’s why we’ve adopted society as a fourth stakeholder.”
— Nigel Morris, Chief Strategy & Innovation Officer Dentsu Aegis Network
Nigel Morris, Chief Strategy & Innovation Officer for Dentsu Aegis Network, hosted an engaging discussion on “Lightening the age of transformation” with Seedstars Co-Founder & CEO, Alisée de Tonnac, and LinkedIn Co-Founder & VP Product Management, Allen Blue. There is a clear opportunity to use rich economic and social insights from platforms like LinkedIn and work with nonprofit organisations like Seedstars to not only drive business growth but help spread the prosperity of the digital economy by honing in on skill set gaps.
3. Voice looks set to be the new smartphone
As Shenda Loughnane, Global Strategy Officer iProspect Global, claims: “Voice is probably the next big frontier”. Jean Lin, Global CEO Isobar, also highlighted the importance of the channel, agreeing that Voice was “something the young generations will only know” when it comes to interacting with devices and brands.
“We say that every 10 years or so, something comes along that transforms our relationship with technology and 10 years ago, that was the mobile phone. The next big transformation is going to be Voice.”
— Shenda Loughnane, Global Strategy Officer iProspect
But we’re still very much in the early stages, so is it worth waiting to be the second mouse that caught the cheese?
Well, in this case, no.
According to Shenda Loughnane, there is absolutely a first mover advantage with this technology, so it’s worth being the early bird who caught the worm. That requires testing and learning with the technology and placing a real focus on content, given its very different conversational nature from traditional text-based queries.
4. Purpose and customer-centricity still come first
Deep diving into the intricacies of data and technology platforms can be tempting after seeing such a complex variety on display at dmexco, but during an audience poll in the Debate Hall, it transpired that 78% audience believed it was more important to gain and keep the trust of consumers than understand the media supply chain and its technology.
Clearly, then, the digital economy boils down to building around the customer, not building around the tech.
Using data in a smart and focused way that drives better insights on your customers is key to driving growth, but a core requirement of brands in order to build trust with consumers is to have a mission, a purpose — a view very much evangelised by Sheryl Sandberg, COO Facebook.
5. To win in the digital economy, the industry needs a mindset shift
According to James Connelly, CEO & Founder of mobile agency Fetch, the marketing industry is suffering “a plague of short termism”, where focusing on reaching the next quarter’s numbers supersedes the focus on building a long-term two-way value exchange through better customer experience. A mindset shift is therefore needed in terms of adopting more “mindful” marketing, ensuring the customer is again front of mind when making strategic decisions.
Nigel Morris also spoke of the increasingly negative sentiment around globalisation and how, by some, digital is regarded as a threat, despite taking 1 billion people in emerging markets out of poverty over the last 5 years. Being more proactive in our positive contribution to the world and driving a more positive narrative around the growth opportunities is therefore crucial for not only our industry, but for society itself to thrive in the digital economy.
Brands and agencies can help drive a more positive outlook by leaning in to the opportunities of transformation and doing more good by contributing to society in a way that spreads the prosperity of the digital economy, a strategic priority which was clearly laid out by Mark Pritchard, Chief Brand Officer P&G.
The overarching theme of the conference was therefore clear — we as an industry need to take a step back and put our customer at the heart of every decision we make. Brands must have a purpose to connect with their customers and to provide a north star for each strategic decision. Meanwhile, taking advantage of the exciting opportunities of data and technology to drive actionable insights and growth across an increasingly fluid customer journey is clearly the way forward, but having the right infrastructure, partners and resource in order to carry that out, particularly regarding our use of data, will be crucial.
— —
This article was written by Sabrina Rodriguez, Global Head of Social & Content at Dentsu Aegis Network.
