We spoke to two marketing maestros at a gathering of CMOs hosted by New Statesman Media Group at the May Fair hotel in central London. Jose Eduardo B. de M Garay, senior client director of Kantar Media and Emma Woodward, senior strategy director of Profusion, answered our questions about the future of marketing.
Q: What are the biggest opportunities for marketers as we head into 2022?
Emma: “We’ve got more data available than we’ve ever had and particularly during covid we’ve become more digitalised in in our habits and those habits have stuck. On the other hand you’ve got the demise of the cookie, UK GDPR and even Apple’s mail privacy protection.
“I feel both should viewed by CMOs as opportunities.”
“Looking at a major auto parts distributor as a first party data case study. Everyone wants their own data to own and to leverage and they know consumers are concerned about sustainability and net zero.
“We created a way for consumers to measure their carbon footprint with their own car and own details. Then we get their email address because they are getting this value exchange. We also tell them how to look after their carbon footprint with their car throughout the year. It’s progressive profiling. We’ve got to be creative about that value exchange.”
Some £29bn is set to be spent on advertising in the UK this year, but the vast majority is going to Google and Facebook. How to do you see the balance between platforms and publishers?
Jose: “Your biggest advantage as publishers is to have a really engaged audience to start with. The big tech companies arespread wide regarding reach but brands can build a more engaged audience. Our research shows traditional print media is 20 per cent more likely to drive motivation in consumers than digital.”
What is the most meaningful metric when it comes to success for a marketing campaign?
Emma: “The key metrics are around engagement, being able to record that engagement with your customer. In our world with Apple’s privacy changes we are losing quite a few of the metrics that have been benchmarks for many years. The bottom line is return on marketing investment…
“We look at lifetime value modelling, customers’ value over a longer period of time. What are the attributes of a loyal customers and use those attributes to find future loyal customers.”
Jose: “We think about finding the right people at the right time and engaging them in the right way. It brings you back to the importance of relevant content. ”
What makes a successful campaign?:
Emma: “First of all it’s targeting. Who are you targeting with this campaign? The key to success of a campaign is you’ve targeted the right content ot the right people. You can use AI to make sure you are reaching them at the right time. One other thing I would add is testing. I don’t think anyone does enough. You need a testing strategy programmed throughout the year, with a decent hypothesis and statistically significant results that come out of it. The success of a good campaign is you want to learn something from it and you’ve created a testing plan for it and then you think ‘what’s next?’.”
Jose: “Invest in technology around measurement. Real-time tracking of performance so you can course correct is really important.”
What is the key to success for marketers in 2022?
Emma: “You work so hard to get new customers you should really be looking after the ones you’ve got. Use AI to predict your best customers when they are at risk of leaving you and win them back. Create a content strategy that is perfect and tailored to get them back n the fold.”
Jose: “Experiment with your first party data and the hybrid model of including third party data. Once you have a good understanding of your audience and your data capabilities the marketing planning becomes a lot easier.”