Over the past few months, we’ve been adjusting to changes in our daily lives and how we interact with one another. One of the major shifts we had at LiveRamp was moving our annual RampUp roadshows to a virtual format, which led to our first-ever virtual LiveRamp Innovation Studio.
During the summit this week, change and how we as an industry deal with it was a major focus. And one thing was clear: adjustments need to be made to accommodate both the sudden shift to our marketing budgets and plans, as well as change to the way we reach audiences, with an increased need for consumer privacy.
Here are some key takeaways from LiveRamp Innovation Studio at the RampUp Virtual Marketing Summit:
Marketers and publishers are looking for a privacy-by-design identity infrastructure
During the session, “Building an Authentication Strategy in a Cookieless World,” LiveRamp’s SVP, Head of Publishers, Jason White, took a poll of attendees to see what percentage had an identity solution in place for a post-cookie world. A little over a quarter of session attendees (26%) said they have had one for over a year, while more than half (56%) said they were planning on getting one.
The need for a more addressable and reliable solution has always been apparent. In the session, “How to Maintain Addressability across Channels with a Reinvented Technology Stack,” LiveRamp’s SVP of Addressability and Ecosystem, Travis Clinger, discussed how the need for a solution beyond third-party cookies is obvious, and organizations like LiveRamp and its partners are uniting to find a solution. Past work-arounds like walled gardens only put data in silos and don’t provide the interoperability and flexibility marketers need to see a full picture of the consumer. Simply, data goes in but does not come out—at least in a way that is usable in other platforms. As Beeswax’s CEO Ari Paparo said, “We have a chance to rebuild the way we buy on the open web and remove the crutch of the imperfect solution of third-party cookies.” An identity infrastructure that puts individuals’ privacy first is the path forward to sustainable advertising.
Measure, measure, measure
“Is the juice worth the squeeze?” LiveRamp’s GM of Measurement for TV, John Hoctor, asked. “Now you can measure it.” With marketers cinching their belts to prepare for an economic downturn, and with KPIs for campaigns more demanding than ever, it’s important that the investment shows the value of your campaigns on driving business results. Cross-platform video measurement, like that of LiveRamp’s latest partnership with Comscore, illustrates the value of an investment on TV campaigns beyond traditional television metrics. Marketers can leverage Comscore’s viewership and behavioral data across platforms with LiveRamp’s data connectivity solutions rooted in identity.
In B2B marketing, LiveRamp B2B’s COO, Pieter De Temmerman, and Head of Product Marketing, Spencer Smith, discussed the added challenge for B2B marketers of buying committee members working from home. Pre-shelter-in-place, an office anchored the buying committee to a centralized location where B2B marketers could identify key decision-makers. But people working from home means B2B marketers must find a way to ensure their campaigns aren’t just a shot in the dark. B2B marketers must incorporate solutions like LiveRamp B2B’s measurement capabilities to see if their campaigns are reaching target audiences within an account, which will mean being able to not only weather the economic storm, but come out even stronger.
Change is the harbinger of innovation
LiveRamp Innovation Studio is a platform to posit and discuss solutions for industry changes and new product developments, and a virtual summit is no different. In one session, LiveRamp’s product experts discussed Customer Profiles which fills the void of unknown customer data, enabling marketers to scale their audiences by developing lookalike models based on their most desirable audiences. Marketers can build segments across data types to increase their reach in a safe, easy, and effective way that is connected to the rest of the LiveRamp platform.
Health care marketers are also benefiting from LiveRamp’s safe and secure data connectivity platform. Recent regulatory changes like CCPA have spotlighted the need for data-driven insights that are also compliant with critical health care industry regulations. LiveRamp’s health care solutions enable marketers to combine valuable data sets with health care claims data in a privacy-conscious manner that complies with regulations like HIPAA and CCPA.
To hear more about any of the sessions during our most recent LiveRamp Innovation Studio, check out the session recordings. Want to get in touch right away? Reach out to [email protected] to see how we can help your organization innovate and drive results.