Marketing is increasingly data driven. A huge supply chain has emerged, profiling people based on their interests, behaviour and purchases and then serving up ads to them in real time through whatever device they are currently using, wherever they are. Throughout all of this, a key principle is relevance. For an ad to be relevant it is shown only to viewers of the target demographic, for whom the product is known to be of interest, at a time and in a place when they are likely to want to purchase, having opted-in… and so on. The more we think about relevance the more variables come into play. This report from Juniper research identifies some context variables for location-based advertising.
But another key marketing concept is the AIDA funnel. Marketing takes the consumer on journey from Awareness to Interest to Decision and ultimately Action. Generation of awareness is, by definition, broad brush. We cannot know all of a consumer’s preferences before she has shown any interest and she will certainly not have opted in to something she is not aware of. Whilst the digital advertising supply chain increases relevance, it does little for awareness and as ad-blocking increases the disconnect will grow. Marketers will seek better tools above the line. Traditional boundaries (for example between advertising and entertainment) will continue to blur and new disciplines (for example content marketing) will evolve, leading to consumer experiences that are increasingly hard to classify. This Yeo Valley ad gave us an early pointer. What would the TV series ‘Friends’ would have looked like if it had been invented by Starbucks?
Andrew Keevil assists technology companies with strategy and marketing, specialising in new proposition development.