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RECMA names iProspect as ‘surging’ in annual media network report

RECMA names iProspect as ‘surging’ in annual media network report

RECMA (Research Company Evaluating the Media Agency Industry) named iProspect a Top 15 global digital agency network, ranked 14th overall.

2 mins read

iProspect featured in WARC’s Gen Z Report

iProspect featured in WARC’s Gen Z Report

What do they think marketers need to keep in mind when trying to engage young people? Discover more about Gen Z, at iProspect.

3 mins read

Midyear dentsu Ad Spend Report 2022

Midyear dentsu Ad Spend Report 2022

The midyear follow-up to the January 2022 edition of the dentsu Global Ad Spend Forecasts points to a continued recovery despite another year of economic uncertainty.

5 mins read

iProspect snaps up Josh Dwiggins as new Global Chief Client Strategy Officer

iProspect snaps up Josh Dwiggins as new Global Chief Client Strategy Officer

iProspect announces the appointment of Josh Dwiggins to its global leadership team as Global Chief Client Strategy Officer.

2 mins read

Operating in the intersection of 3 Cs can help brands win

Operating in the intersection of 3 Cs can help brands win

At the launch of the dentsu-e4m advertising report 2022 on Tuesday 1st February, iProspect’s Global President Amanda Morrissey shared the global perspective of convergence. Morrissey began her keynote address by highlighting that the actual convergence of media happened during the Covid-19 pandemic. “We have been talking about the convergence of media quite forever but all these years media was focussing on consumers' life, not in the technology world. The actual convergence happened during the pandemic when the long-pending fundamental change occurred”, Morrissey said.   While most media experts blame it on a change in consumers’ behaviour during the pandemic, Morrissey says otherwise. According to her, “It is not just the changing consumers’ behaviour because their behaviour has been changing earlier as well. It is actually a change in consumers’ conscience; the way they think about their problems and the lens through which they see the world has fundamentally changed. And this will continue to change their decisions moving forward.”   She noted that consumers' are now experiencing new ways of interaction with brands, new ways of entertainment, they are learning how media operates and how it gets delivered and that is where the lines of fundamentals are blurring.    “We can’t think of offline and online journeys separately because they are intertwined,” says Morrissey adding that the digital and virtual worlds are blurring and sometimes they are replacing the physical world as they all are interlinked. The pace of this change is not slowing down.   Morrissey laid emphasis on the 3 Cs for convergence-culture, content, and commerce. Explaining the success formula for the advertising sector, she noted, “Opportunity for growth lies in the intersection of culture, content and commerce, all powered by data. Brands will win in this world of convergence if they operate on intersection of culture, content and commerce and focus on delivering today and building a better tomorrow simultaneously”.   “We need to think about tomorrow, today, Morrissey said, adding that the change in fundamentals is being witnessed all across the world”, she added.   Citing the example of the UK, where she resides, Morrissey said that doorstep delivery of items grew by 120 percent in the pandemic which created huge opportunities for brands that were into d2C segment and those with physical shops to incur losses in the tune of 22 percent. She said that the US is expecting up to 18-45 percent growth in various categories in the online commerce segment. She also highlighted how the Chinese purchased over 40 percent of the goods online even before the pandemic, compared to 22 percent in the UK and 18 percent in the US.   “The behaviour of Chinese consumers is not due to technology but their openness to brace new things and willingness to shop online. The markets adopted technology according to the consumers' need, Morrissey further added.   Citing a quote by Cedric Charbit, CEO of Balenciaga-“We need to set ourselves up to anticipate the change, rather than process the change when its too late”, Morrissey advises marketers to be ahead of consumers and not respond to their needs.   She also gave an outline of changes likely to appear in the future such as everything will be shoppable, all forms of brand conversations be it video or text or anything, will allow shopping and contactless payment.   “Consumers' expectations are super high. They are very demanding now. The question is how brands are readying themselves to treat their consumers meeting their expectations. Apart from brand building, marketers will have to provide seamless experiences and interaction points to their consumers. Every media should be like performance media,” Morrissey explained. She said that her company is offering a series of tools to brands to keep a track of consumers interactions.   Talking about Metaverse and NFTs, Morrissey says innovations of the virtual world have started blurring lines with the physical world and the brands should be ready to leverage these technologies. “We are planning an entire ecosystem for brands that operate in the intersection of physical, digital, and virtual world to offer a broad range of immersive experiences. We are also working on how to add haptic technology in the virtual world so that users can touch and feel in the virtual world and bring them into the real-life world. We are also working on NFTs for clients,” Morrissey told the audience explaining how iProspect was blending virtual and physical worlds for the brands which want to remain ahead in the race.   Morrissey further added that the consumers will take decisions based on their gut feelings and hence brands should substantiate every claim that they make about any product, they have to have a sustainable strategy. “People focus on healthcare and wellness. Self-care brands will be expected their products of impact on consumers' lives, health monitoring, make more experiences able to make better choices. Predict and add value”, she said.   Adding further, Morrissey noted that ethics is at the heart of decision making and that brands need to think about the environment, ethical growth of business because consumers can see everything that brands do, including the supply chain.      Find the article originally published here: http://ow.ly/4jIM50HS072 Content 0

5 mins read

Dentsu Ad Spend 2022

Dentsu Ad Spend 2022

The new dentsu Ad Spend Report forecasts 9.2% growth in global advertising investment in 2022, outpacing real GDP growth[1]projections by 4.7 percentage points. Dentsu combines data from more than 50 global markets on a semiannual cadence. The current report anticipates US$745bn in global ad spend.   When compared to the recovery period following the 2008 financial crisis, today’s post-pandemic ad spend is expected to outpace post-2008 ad spend by almost three to one. In 2022 global ad spend is forecast to grow by 9.2%, almost three times more than the 3.4% growth in 2011. Comparing the two-year post-crisis ad markets, in 2022 the global ad market exceeds the 2019 pre-pandemic ad market by18.7%, whereas in 2011 the global ad market was 1.0% less than in 2008.   Following a 29.1% increase in 2021, we forecast Digital investment to grow by 14.8% in 2022. This will bring the Digital share of spend to 55.5% (US$408.4 billion) of the total as spend – meaning that the Digital share of spend will become twice as big as the Linear Television share of spend (26.9%) for the first time.   Growth across social media platforms is expected to continue this year, supported by short video formats, better commerce infrastructure like shoppable ads and streamlined payment processes. Advertisers have increased focus and resources into e-commerce, increasing display and search budgets on retailer web sites in reaction to new consumption habits. Search spend is forecast to grow by 16.9% in 2022 to US$144.9 billion, and Social spend is predicted to grow by 21.4% in 2022.    2022 is a year when media pricing is expected to be under pressure because of the continued economic uncertainty caused by the pandemic and expected inflation. For the first time, the FIFA World Cup will clash with Black Friday and Christmas and is likely to cause a bottle neck of ad-spend which could inflate media pricing further. Long-term media planning with clear targets and potentially front-weighted investments are highly recommended.   The growing importance of gaming and virtual worlds also gives us a vision of what might be coming with the next evolution of the internet: the metaverse. Although the metaverse does not fully exist yet, this open ecosystem made of hybrid, shared spaces that blend physical, digital, and virtual realities is expected to create tremendous opportunities for advertisers to reimagine their branded experiences.[2] This is an area where brands can experiment and innovate in 2022. This space could be less reliant on advertising, which will require brands to start testing new ways of interacting with consumers and start exploring new advertising paradigms.   We invite advertisers to reflect specifically on three of the brand considerations covered in the report as they develop their 2022 media strategy:   Adapt media strategy to shortages   As shortages continue into 2022, brands need to adapt their strategies to make the most of their media dollars. Upper-funnel programmes tasked to build awareness or engagement pre-sale are long-term endeavours that are not so impacted by supply chain. Conversely, direct response-focused digital media programmes optimised towards conversion are more stressed by these implications, given the difficulty of selling unavailable inventory. Brands should use structured data and feeds and automation to better inform their audiences about product availability by dynamically adapting the content of ads.     Boost E-commerce through retail media   As people constantly reinvent their unique path to purchase, media plays a paramount role in reconnecting brands to the consumer journey by enabling more personal, contextual, and valuable shopping experiences. Retailers, marketplaces, social platforms, grocery services, and super apps are all actively developing media portfolios with unique commerce-first solutions. Advertisers should include this growing media segment in their media mix. They should also strive to close the gap between discovery and purchase across the customer journey by making media campaigns directly shoppable where possible, leveraging the live commerce opportunity, and exploring relevant uses of technology such as augmented reality (e.g., through virtual product try-on).     Invest in brand to avoid growth plateau   Although newcoming players tend to focus their media activities only on performance-based tactics, familiarity is critical in times of uncertainty and is key to shaping long-term preferences. Therefore, advertisers should cultivate durable emotional connections with consumers through storytelling across their stores, products, and media campaigns. Performance marketing tactics can be used in a complementary way to address audiences that have been exposed to brand-building efforts. This balance of brand and performance will enable more continuous growth and will keep acquisition costs lower than trying to force one’s way to growth solely through performance-based tactics.   Of course, all forecasts are dependent on the evolution of the global pandemic, new COVID-19 variants, and related government restrictions. We recommend the industry keep a close eye on key economic indicators, which is what we’ll be doing in partnership with our clients at iProspect to ensure we’re ahead of any impacts to campaigns and business growth. For more information, please download the full dentsu Ad Spend report   [1]OECD, OECD Economic Outlook, Volume 2021 Issue 2: Preliminary version, Table 1.1 - December 2021 - link [2] Dentsu, The irresistible ascent of gaming in 2021, December 2021 - link Content 0

5 mins read

News

Future Focus 2021: Brands Accelerated

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A Cookieless World Conclusion

A Cookieless World Conclusion

As 87% of people now believe data privacy is a right, not a privilege,[1]we, as marketers, should do better to address their growing concerns around how their information is collected and used. It is not only a matter of legal compliance, but also a matter of trust.  In that context, although the recent evolution in the cookies landscape has triggered legitimate concerns around the potential consequences on advertising efficiency and on market dynamics, we should all welcome any change promoting user privacy as a collective, meaningful progress.  Of course, these changes come with their own set of challenges and uncertainties, and the industry will probably have to make do with less - but better - data.  As we have seen in this report:  The leading web browsers are moving away from third-party cookies, creating a fresh paradigm for the digital marketing industry. In 2023, we consider using third-party cookies for advertising purposes should be a relic of the past. Apple is going even further, requiring apps to explicitly obtain consent to keep tracking users.[2] Some digital marketing activities are impacted, such as data management, audience activation, and performance measurement.  Marketers must reconsider how they manage data. This means questioning their current value exchange, improving communications around data privacy, and revisiting their technology needs.  To keep engaging consumers, marketers should investigate the possibilities offered by contextual targeting and cookieless audience targeting alternatives such as persistent IDs.  To measure future performance, marketers will have to combine multiple techniques, from in-platform attribution to incrementality measurement to media mix modelling. A solid testing roadmap will be more important than ever.  There is no silver bullet for this evolution, instead, each brand must develop its unique combination of responses. It is fine if your organisation has not figured out the best option yet. You are not running behind as there is still time to adapt – but you should not wait any longer to plan your transition to a new model.  We expect discussions around privacy and identity to stay at the forefront of the debate even after we have pivoted to the cookieless world.  This is why at dentsu we constantly monitor the martech landscape and are committed to working alongside our clients and partners to imagine and implement solutions that work for all. As a global leader in search marketing, we have implemented advanced cookieless strategies for the world’s largest brands for the last 10+ years. We are using this know-how to help our clients not only thrive in a world free of third-party cookies but do so with speed.  Digital advertising has always been one of the most dynamic and exciting marketing spaces - and we are confident the best is yet to come.    For more, download the full report today: http://ow.ly/KDTK50FKTaJ  [1] Microsoft Advertising in partnership with iProspect, 2020 Consumer Privacy and Brand Trust Survey, Dec 2019 – Mar 2020, as featured in the report In Brands We Trust, published in April 2020  [2] Apple Developer, App Store, User Privacy and Data Use, as accessed on May 4, 2020    0

3 mins read

The Beginning of A New Era

The Beginning of A New Era

The Beginning of A New Era | A Guide for the New Era of Digital Marketing | The Cookieless World

3 mins read

Straight Talk About Why Marketers Should Get Involved with Clubhouse and Social Audio

Straight Talk About Why Marketers Should Get Involved with Clubhouse and Social Audio

iProspect contributes to the Clubhouse and Social Audio 2021 report from Insider Intelligence.

2 mins read

Future Focus 2021: Brands Accelerated

Future Focus 2021: Brands Accelerated

The new iProspect Future Focus report explores the intersection of consumer attention, commerce and data.

4 mins read

Shoppable AR Transforms eCommerce

Shoppable AR Transforms eCommerce

Augmented reality (AR) is redefining the future of shopping and brand experiences

6 mins read

The Renewed Importance of Structured Data

The Renewed Importance of Structured Data

There are multiple benefits of automation for brands, from more consistent user experiences across platforms to a competitive edge in performance optimisation to reduced media waste. According to the iProspect 2020 Global Client Survey, about one marketer out of two has already automated data and analytics (54%), search (50%) and programmatic (47%) activities – at least partially. One out of three (32%) has automated social efforts and one out of four (24%) has automated effectiveness measurement. As automation is increasingly accessible to brands, with increasing numbers of automation focused solutions made available by vendors and tech platforms, it is relatively easy for brands to launch decent campaigns – but it also makes differentiating from competition more difficult. This is why structured data and feeds continue to grow in importance.   Structured data and feeds power automation Structured data and feeds are collections of data (e.g., price, product availability, weather) with useful associations that can be used consistently across a large array of marketing channels (e.g., search, social, email). By organising information to be understood and utilised by various systems, structured data is the true cornerstone of automation, powering the brands’ ads across many verticals, such as airlines (e.g., flight rates), hospitality (e.g., hotel listings) and automotive (e.g., nearby dealerships). Structured data is becoming increasingly important for three reasons: Structured data can be used to automate the integration of any data signal into the media ecosystem, especially the brand's products and service details. Products and service data sets do not include personally identifiable information (PII) data and are not impacted by data privacy concerns, which means marketers can confidently invest in these specific structured data to deliver the best value for audiences regardless of the ever-changing privacy landscape.   Six marketers out of ten (61%) declare the most powerful lever to business growth is building a highly convenient experience for the consumer (iProspect 2020 Global Client Survey). Feeds enable marketers to make the most of shoppable media opportunities, which make the consumer path to purchase more convenient. They also improve the relevance of ads through more personalisation possibilities. For instance, iProspect helped a retail apparel company to dynamically adjust which product image to use for each product via the feed and connect it to media campaigns. Analysing performance data, we realised that for women's products, images featuring models performed much stronger than images of the product by itself. For men's products, it was the exact opposite. We were able to increase the relevance of ads by optimising the images featured for each product, resulting in stronger engagement and increased average order value.   With the current recession putting marketing budgets and resources under pressure, structured data and feeds can make media management more efficient. For example, campaigns can automatically be paused when a product is momentarily out of stock, reducing media wastage. They also make maintaining ad accuracy of large catalogues more efficient. For instance, we augmented the feed of all the properties managed by a real estate client with point-of-interest data and neighbourhood data - both critical to how people search for properties - so that the ad copy could be updated automatically with minimal human intervention.   How to get started with structured data and feeds There are three challenges most marketers will face when exploring how to use structured data and feeds to create a positive value exchange: identification, access and execution. The following considerations are key to overcoming these challenges. Data signal audit (People): Conducting a thorough data audit to understand what data sets are available to you and what signals are relevant to your brand is the first step to tap into structured data. When it comes to automation, bad data input can quickly turn into a very bad output, which is why collaboration is critical at this stage. Involving internal stakeholders (e.g., IT department) to align on how to structure data sources and setting quality standards for third-party feeds is a good practice to prevent potential issues later. Data acquisition (Platform): Securing continuous, real-time access to the right data signals requires identifying a technology platform able to both connect to your own internal data systems to pull in relevant data and ingest third-party data sources into a single data environment, such as iProspect’s FeedConnect and iActivate. Data management activation (Process): Connecting structured data to active media programmes can be challenging, as each platform has its own technical integration, and each channel its own requirements. For instance, paid search keyword campaigns typically call for short titles of products without brand names, while product listing ads and organic search require longer titles and descriptions. On top of technical know-how, it is important to include a complete testing strategy to make the most of each data signal in the feed and inform campaign management decisions, for instance, by factoring product seasonality to adjust bids throughout the year, or by including margin data to the feed to optimise against bottom-line performance.      Product-to-audience affinity is the future of structured data We believe the future of structured data leans toward optimising how likely a given audience segment is to purchase a specific product, and we predict there will soon be an opportunity to use additional data signals to maximise the affinity at the product level. It could mean using analytical data at the CRM and product SKU levels to determine which products drive the highest contributions to a consumer's lifetime value, looking at the types of products that most often drive a second purchase to boost them through advertising and drive customer retention, etc. For instance, a smartphone brand will be able to use structured data and feeds to increase the bid of ads featuring their most recent device - and not the bids for its entire smartphone range - when communicating specifically to early adopters.   The possibilities are endless, but it is crucial to coordinate between departments to create models with tangible applications.     This article is excerpted from the report Future Focus 2021: Brands Accelerated. Download it now for key insights on how brands can make the most of brand and performance to accelerate their growth. 0

6 mins read

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