A rundown of the major insights for marketers and advertisers from the week of May 3rd, 2021.
For the second consecutive year, the Interactive Advertising Bureau’s NewFronts digital media marketplace is going online. Many media buyers are embracing the lack of star-studded events and cocktail hours and are instead turning their attention to which partners can bring value around privacy, measurement and diversity. For publishers and platforms, the upsides of virtual NewFronts include doing away with the cost of renting out physical venues and putting on a complex stage production.
Why it matters: Amazon is new to this year’s NewFronts presentation while Hulu, a staple presenter since 2012, won’t be attending as it’s been folded into its owner Disney’s upfronts roadshow—a break that demonstrates how digital natives and traditional media companies are viewing the streaming race.
Mattel recently kicked off a new global campaign “A doll can help change the world” inspired by a neuroscience study that suggestS playing with dolls supports kids’ ability to develop social processing skills and empathy. The campaign, part of Barbie’s “You Can Be Anything” initiative, kicks off with a 60-second spot and will extend to retail initiatives and brand partnerships.
Why it matters: Barbie’s efforts to foster empathy and inclusivity in childhood comes after a brand survey conducted found that, as of last July, 91 percent of parents ranked empathy as a key social skill they want their child to develop. In addition, a Barbie spokesperson says that in 2020 the brand saw its highest year-over-year growth in over two decades.
Linda Lee, Campbell’s chief marketing officer for the company’s meals and beverages division, says that to address the current racial strife, Campbell’s launched a new Inclusion and Diversity strategy and hired its first-ever chief culture officer, Camille Pierce to lead those efforts.
Why it matters: Campbell’s partnered with a multicultural agency to determine what role each of its core brands might play in tackling social issues. In addition, Lee says they implemented a recruiting and talent development program to ensure diversity is reflected in its group.
This comprehensive glossary from Shelly Palmer, Adweek opinion contributor and chief executive of The Palmer Group, features easy-to-understand definitions of every crypto term—from NFT (Non-Fungible Token) and Blockchain to Ethereum and Stablecoin.
Why it matters: NFTs, defined as unique tokens often used for collectibles or specific assets, such as a loan, have taken over the worlds of art, music, fashion and even fast food. In March, for example, Taco Bell created taco-themed GIFs that were sold on an NFT marketplace called Rarible; about 25 tokens, or pieces of art, sold out in under 30 minutes.
With Apple’s IDFA privacy update and deprecation of cookies, many marketers are perceiving first-party data maintenance as a cost rather than an investment, a flawed approach that may cost them a higher return on investment.
Why it matters: To own a direct relationship with customers, brands should invest in building their own digital assets then attract their target audience through discounts and promotional offers and thereafter feed their interests via content marketing.