DMEXCO 2022: New Approaches To Data Pave Ways To Know Your Customers Better
Data can transform your company and enable growth of the organization — yet surveys show that only 12 percent of marketers are fully prepared to build and executive a data-centric, customer-forward strategy. To address this disconnect, MMA has launched a new global initiative called DATT, which stands for Data in Marketing Think Tank. DATT is intended to help marketers understand and unlock the value of their data, once they know how to build out the strategy and frameworks for data success.
In a panel discussion at DMEXCO, experts such as Deniz Can, Global Digital Creative and Content Director at Bayer, shared their ideas for spinning up a data strategy and using that strategy to connect with customers and drive conversions. The moderator, Peggy Anne Salz, the founder of marketing agency MobileGroove and the Chief Content Officer for MMA Germany, talked about the power of data with Can as well as with Steve Martin, VP of Data Partnerships for EMEA and APAC at The Trade Desk; Timo Benzin, Director of Google in Germany; and Jan Heumüller, Managing Director at Ogury, a leader in personified advertising. The discussion is available on demand. Here are the top takeaways from the conversation.
First Step: Ask the Right Questions
Bayer’s Deniz Can sees data as a prime marketing asset. “That’s why we’ve been working on operationalizing it and embedding it within our marketing strategy and execution,” Can explained. The first thing to do at the start of this process, she said, is asking the right questions. “What does my consumer need? Is there an unmet need for the consumer? And what does the business need?” Can explained. “I think this is always where we need to start when we think about data and technology, and how it’s going to create value for our companies.”
The second step, Can added, is making sure that all stakeholders, including marketing teams, are part of technology-buying decisions. “This technology is usually for marketing teams,” she said. “If we make decisions without involving them from the start, we usually have a lot of problems in terms of adoption.”
In the Absence of Third-Party Data, Identity is Key
Now that brands are trying to make the most of their first-party data, identity is critical, said Martin. “You’ve got to get the data together and you’ve got to get sorted on identity,” he explained. “Most organizations will be touching customers, whether it’s in a browser or a mobile device or through CRM. And being able to resolve that identity down to the same customer is incredibly powerful as you look to activate.”
If you don’t have enough of that first-party data, you may need to collaborate with a partner. “People tend to think about technology when they think about collaboration — but actually, trust is the most important thing,” Martin said. “Don’t ignore the human side of building trust with whoever you’re collaborating with.”
It’s About the Comfort Level
We’re all working hard to make up for the loss of that valuable third-party data, explained Benzin. But generating more first-party data isn’t always the best approach. “All the consumers and players in this ecosystem need to feel really comfortable with how publishers, advertisers, and tech players deal with data,” he said. “We have to offer transparency and control to consumers. And you have to give the consumer a better user experience specifically on your webpages and the way you interact with them.”
Personified Advertising’s Moment
Online users are deeply aware of how they’re being followed and identified online, and they’re not crazy about it. “The users don’t want to get tracked anymore, or share their identity and be targeted,” Heumüller said. “Many brands are looking for alternatives that are not based on cookies and identifiers to target single users, but to target personas.”
With personas, based on data such as consumer surveys, “we give the user the experience that they are not tracked anymore,” he added. “We validate the impression, not the user. We’re targeting personas at scale since we no longer rely on identifiers such as cookies.”
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