AGC’s Insights: Mirror, Mirror on the Wall…What is the Greatest Marketing Data of Them All?
It’s 2022, do you know where the best Marketing Data is? Inquiring minds want to know. Clearly, there are some massive disruptive trends going on in the Advertising/Marketing/Retail/eCommerce industries today and the pace of this disruption seems to be accelerating. Data is everywhere. The challenge is how to use it in the most optimal, privacy centric way…how to reach the right audiences in the right channel in a privacy sensitive manner.
Millennials and GenZer’s are changing the way products are sold and media is consumed. They now represent the largest buying and watching cohort and have very high expectations. Marketers and Media Companies desperately need to use data to meet these lofty expectations which include personalized shopping experiences, targeted and relevant ads, a deep understanding of a person’s passions and interests, a trusted relationship and sense of community, a state-of-the-art customer experience, etc.
However, Marketers and Media Companies are faced with increasing regulations and restrictions around the use of data, particularly PII data. And the demise of third-party cookie usage on Chrome coming in mid-2024 means that the “backbone” of the entire digital advertising ecosystem basically disappears. As a result, there’s a lot of talk about emerging ID capabilities, Identity Graphs, increased focus on First Party Data collection, etc.
The B2B world faces different challenges. Quality and Accuracy are the key challenges in this sector as Data permeates the Sales Funnel and Digital dominates. Gone are the days of the door-to-door field salesman. Will big industry in-person events be next as B2B buyers increasingly look online for product information, reviews, and comparative analysis? From research and discovery, to lead gen and customer service, it’s all being done online, and effective use of data is the key to success.