Life was simpler when we just turned on the TV or opened a newspaper to get our news and information. Media consumption was straightforward and our jobs as marketers — although limited — were easier. Fast forward to today’s media landscape where consumers are more connected than ever before and, while more complicated, the opportunities are endless for marketers and brands.
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Life was simpler when we just turned on the TV or opened a newspaper to get our news and information. Media consumption was straightforward and our jobs as marketers — although limited — were easier. Fast forward to today's media landscape where consumers are more connected than ever before and, while more complicated, the opportunities are endless for marketers and brands.
Technology has and will continue to grow at a rapid pace and the “always trackable” status of our lives is not slowing down. The implications for brands are significant, because the data consumers create (often unknowingly) can be analyzed and used to better target future messaging.
Today there are 25 billion connected devices and this number is expected to grow to 75 billion by the year 2020. Half of these devices will be smartphones running on 5G networks, which allow for 1,000 times the volume of data that we have today. The time users spend on their phones on social media, searching for information, and watching videos creates a veritable gold mine of opportunities for brands to connect with their audience and provide relevant messaging and content beneficial to the customer.
Even our homes are creating data that can be analyzed. By the year 2020, half of all homes will have several hundred connected devices — think “smart” home security systems, heating and cooling systems, and even refrigerators. The living room looks completely different now, with video programming being consumed across a multitude of devices, including smart televisions, computers, tablets, smartphones and streaming platforms such as Roku, Apple TV, Chromecast and Amazon Fire. By 2020, more than half of the U.S. population will be consuming video programming via digital channels.
So what does this all mean for brands trying to connect with consumers? The explosion of data and the amount that can be captured has now increased advertisers' abilities to reach core prospects in unprecedented ways. Technology is letting us get more personal than ever before, essentially magnifying our targeting capabilities by 10 times.
We will be able to analyze data beyond just age and income; we will know the gender, age and number of people in a household, the video programming that the family likes to consume, and even all the devices they own. We can use this information to reach the audience we want, and where and when we want to target them. Emerging media technologies are poised to personalize the consumer experience — in real time, almost everywhere, and with new touchpoints.
Advertisers will be able to reach individuals to make personalized recommendations using “predictive analytics.” For example, if a person's online shopping history is showing diapers and bottles, then a car company could choose to serve a minivan ad on their smartphone. Or if aggregated data shows that someone just got married, an insurer may choose to deliver a “bundle and save on coverage” message.
Having the tools and resources to analyze data for brands and determine the best ways to reach core audiences is critical. Brands need to seek partners that will enable them to leverage the explosion of data to remain competitive in today's ever-changing landscape.
Looking for designations like the Google Premier Partner certification is one way to ensure your marketing partner can deliver competitive advantages when it comes to targeted advertising. This designation allows marketers to take advantage of new online advertising products and offerings before they are publicly released ensuring a competitive edge when it comes to delivering results.
Ultimately, the increasing ways that people are consuming media are providing more channels for advertisers to connect with their target audiences. By effectively analyzing data that can be gleaned from all the technology and devices available to consumers, brands can target their messaging more successfully.
Gary Capreol is the senior vice president and director of media and analytics at Glastonbury marketing and communications firm Cronin and Co.
