A look at the advertising and marketing insights from the major publications we’re sharing internally this week.
Harvard Business Review
Digital dexterity can be defined as the “ambition and ability to use technology for better business outcomes.” The key steps necessary to mold employees’ digital dexterity include: 1) showing why it matters, 2) arranging development experiences to foster digital dexterity, 3) tasking employees to act as “digital translators” to help guide leaders through digital business initiatives and 4) developing “skill disseminators” to coach others.
Why it matters: After discovering some of the benefits of remote or hybrid work structures, more than 90 percent of midsized organizations intend on transitioning to hybrid work for at least some employees. The nature of hybrid work highlights the utility in new meeting solutions, collaboration and communication services, personal productivity tools, and—most importantly—a focus on improving digital dexterity to encourage productivity.
Ozy Media engaged in an array of scandals that led to its inevitable collapse. From inflated audience numbers to securities fraud, Ozy’s story provides marketers with insight on how best to avoid falling victim to similar schemes in the future.
Why it matters: According to independent ad fraud researcher Augustine Fou, because all media companies buy traffic, marketers must study detailed analytics to determine where their ads ran and whether those sites are engaged in Ozy-like tactics. Similarly, Method Media Intelligence chief risk officer Marc Goldberg stresses the importance of verification for all media buys and recommends that publishers stop buying traffic sub-penny per click, marketers start asking questions about traffic acquisition and investors do due diligence on acquisitions and growth plans.
PepsiCo is launching Pepviz, a platform that uses analytics, data science and other tools to help retailers ensure they are carrying the right product mix and optimizing shelf space. Pepviz will also help attract new shoppers, drive store trips, boost loyalty, encourage impulse buys, improve product mix and increase sales. The platform focuses on shopper behavior and tells a retailer what customers are buying at its store in addition to what they’re buying at other stores in the area, thus helping retailers determine whether to modify basket sizes.
Why it matters: Because consumer needs may vary from store to store, it’s important for retailers to understand how best to cater to them. Pepviz’s approach to harnessing and utilizing data will allow for CPGs to become more nimble and responsive to consumer needs during the ongoing pandemic, in part, by making it easier to predict where the market is headed and how CPGs can sell more.
A number of elements seem to be contributing to the demise of influencer marketing, including loss of audience trust, rising fees, difficult-to-measure metrics and murky legal hurdles. Mention Me’s partnership with TheIndustry.fashion produced a report showing that 60 percent of people are more willing to purchase a product recommended by a friend of a family member than by a celebrity or social media creator.
Why it matters: Influencer marketing is set to reach $13.8 billion this year. To harness that power and incorporate it into a multi-faceted marketing strategy, brands must recognize that 51 percent of consumers trust recommendations from friends above anyone else as compared to just 2.8 percent who trust influencers.
IPG’s marketing intelligence company launched Kinesso Intelligent Identity (Kii) on September 30. Kii connects identity across the web and within walled gardens and can enable a 20 percent rise in campaign reach through match rate improvements. It’s IPG’s response to privacy-first identity issues and addressability as third-party cookies are phased out and as mobile ad identifiers are limited.
Why it matters: Kii provides a solution to the issue following the end of the third-party cookie by effectively connecting identity across all avenues of the marketing landscape. Kii may also offer cost savings by linking a brand’s first-party CRM data and mapping it to Kii identifiers.