Last week we flew out to Salt Lake City for the Adobe Digital Marketing Summit. We met amazing people, listened to inspiring speakers, and learned a lot about where digital marketing is headed. These are our three big take-aways from the summit:
1. Publishers can onboard data to increase ad sales
We’ve known for a long time that onboarding has clear benefits for consumer marketing, such as CRM Retargeting and creating relevant messaging for your audience. But last week at the Adobe Summit, Condé Nast spoke about their new product, Condé Nast Catalyst: Audience by Design. Condé Nast is onboarding Preferred Subsciber Network data to Adobe Audience Manager and creating segments based on interests. Advertisers can then leverage huge online scale and rich offline profiles to target relevant audiences across Condé Nast brands. Read more about it here. Premium publishers like Conde Nast can utilize data onboarding to attract advertisers, leading to higher CPMs, better performing ads, and ultimately increased ad sales.
“This is a great move by Condé Nast that will not only go a long way to ensuring that people who use their sites are served advertising that is relevant to their interests, it will give marketers an opportunity to efficiently reach specific affinity audiences across the breadth of the Condé Nast portfolio of premium content sites,” said Louis Paskalis, vice president of global media, content development and mobile marketing at American Express. “When consumers, publishers and marketers all win, as in this case, it’s truly a great day for the advertising industry.”
2. Marketers want to set their data free
One of the key issues data-driven marketers face today is fragmentation within their marketing strategy due to both data and organizational silos. At the summit, Adobe announced Adobe Marketing Cloud, an integrated platform that gives marketers insight into their entire online marketing strategy from social to display to mobile and beyond. “Everyone is swimming in data — the rocket science — and you need to be able to predict what is going to happen next based on that data. You have to bring it all to a whole new level and reliably predict what the next customer touch will be,” said Shantanu Narayen, CEO of Adobe.
Marketers face an even greater challenge when trying to incorporate their offline CRM data online. Dan Scudder, VP of Business Development at LiveRamp, spoke at the summit about breaking down offline data silos. Traditionally, marketers have only had access to online behavioral data and limited offline data within data management platforms such as Adobe AudienceManager. Using data onboarding, marketers who use Adobe AudienceManager now have the ability and scale required to use their own CRM data to analyze their audience along their own segmentation, build campaigns targeting specific audiences, and understand who their high performing, high value customers are.
3. Attribution still has a long way to go
“I’d love to see an evolution of attribution. Today, state of the art attribution is the last person to show a unit, one of probably a thousand units that consumer had seen that day, and then they go make a purchase. That is considered state of the art. We think it could be bigger and better,” said Adam Bain, President of Global Revenue at Twitter. And he wasn’t the only one to bring up the trials and tribulations marketers face with current attribution solutions. Matthew Comstock, VP of data and analytics for Razorfish, and Dr. Sid Shah, Director of business and analytics at Adobe, also discussed the need to move beyond last-touch attribution towards a more comprehensive portrait of consumer engagement with multi-channel ad campaigns. In order to tell the full story, marketers will have to bring together their offline and online campaign and conversion data. Platforms such as Adometry and Convertro have begun to build these integrated solutions, but we’re still a ways a way from a holistic view of campaigns run across TV, print, direct mail, email, and online display.