A look at the articles we’re sharing internally this week.
Some key steps business leaders can take to guard their reputation and programmatic ad spend include using sophisticated tools to reveal the types of ad fraud attacks affecting their budgets, analyzing their budget with quality versus reach in mind and acknowledging that the ‘age of privacy’ has arrived.
Why it matters: Programmatic advertising is a $200 billion global marketplace, with connected TV (CTV) being its most recent accelerant. While 78 percent of US households are reachable via programmatic CTV advertising, ad fraud rates are still high — 24 percent in Q4 2020.
In Mark Schaefer’s book, Marketing Rebellion, the marketing strategy consultant writes that the main idea of “human-centered marketing” is to create an emotional connection with consumers that’s helpful and personal. Like during the pandemic when Burger King UK posted a message encouraging customers to support other fast-food chains and when American Express surprised 100 Black female entrepreneurs with grants of $25,000 and 100 days of resources.
Why it matters: Today, the customer is the marketer and the pandemic has amplified the need for authentic human connection. As Schaefer writes, brands must abandon advertising scripts and make ads based on what normal people do, be vulnerable, put their money where their mouth is and activate all consumers.
McKinsey & Company
Reimagining the post-pandemic return will require companies to fundamentally rethink their revenue profile; redesign operations and supply chains to prevent potential shocks; institutionalize forms of speedy decentralization such as small, nimble teams; and set an ambitious digital agenda then deliver it within two to three months, not within a year or more.
Why it matters: One example of how acting with urgency pays off in crises is a Chinese car rental company that invested in micro-customer segmentation and social listening to guide personalization after its revenues dropped 95 percent in February. The result: three new agile teams with cross-functional skills and recovery of 90 percent of its business year-over-year. Before the crisis, the company took up to three weeks to launch a campaign; now it’s down to two to three days.
One key strategy mobile app makers can learn from game companies is leveraging engagements that make their ads more immersive, such as playable ads that hook users before they install the game.
Why it matters: For a fast-casual restaurant, this tactic might translate to a playable ad that invites the user to build their perfect burrito. When finished, they’re inspired to download the app and have that same burrito delivered.
Instead of leveraging influencers to highlight product offerings, brands should partner with purpose-driven communicators who seek to change or impact the world in meaningful ways and through them, address the pain points of younger generations.
Why it matters: Recent Harvard research found that the rate of loneliness is particularly high among young people who feel as if no one cares about them.