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

Inclusivity Drives Attention

Inclusivity Drives Attention

One of the most important considerations in building experiences that truly capture attention is to make sure everyone feels included. It may sound obvious but is yet to be a reality for many population groups, despite their growing economic influence (in the US alone, the buying power of racial and ethnic minority groups is close to four trillion dollars). Like attention, diversity and inclusivity should not be taken for granted and require continuous effort. Brands have a critical role to play in that space. According to dentsu and SeeHer, 81% of US consumers agree media plays a crucial role in shaping gender roles, but less than a third (32%) think media usually portray women accurately.     A pivotal moment in time 2020 has been pivotal in allowing many to realise for the first time the disparities endured by minorities. The COVID-19 pandemic has hit minorities hardest and several tragedies in the US such as the murder of George Floyd have spotlighted systemic discrimination against people of colour. The global public outrage that followed made waves across all aspects of society, including consumption, through movements such as #BlackoutDay2020, and brands, with many major companies publicly confronted for the lack of diversity in their boards.   Brands can no longer neglect diversity and inclusivity. It may lead to uncomfortable realisations, difficult conversations and mistakes along the way, but embracing inclusivity is now an imperative for brands to become or stay relevant to population groups that have been overlooked for too long.     There has been progress, but the road to diversity and inclusivity is still long. According to the iProspect 2020 Global Client Survey, 96% of marketers now believe inclusive marketing is important, most of them (63%) seeing it both as a moral imperative and a business opportunity. Interestingly, the percentage of marketers who believe it is only important for the business potential it represents is decreasing (-7% YOY), while the percentage of respondents seeing it as important solely on moral grounds is increasing in the same proportion. It could be a sign that more companies are growing more comfortable with embracing a societal role.     Reflecting on the campaigns they ran over the last six months, 55% of marketers declare they featured people from a different ethnicity/caste than the dominant one in their market at least once in a positive way. This increasing figure (+3% YOY) could hint that the increasing visibility of movements like Black Lives Matter progressively change perceptions and actions around social justice.   However, not all population groups follow the same trend. For instance, we observe the percentage moving down for people with disabilities (-4%), which makes them underrepresented compared to the global share of people living with some form of disability (15%).   These figures show that, although inclusive marketing is gaining traction, there is still a lot left to do to improve the visibility of minorities in media and advertising and to build authentic stories that accurately reflect minorities’ experiences. Although there is no inclusive silver bullet, there is definitely a starting place: the diversity within the organisation. Building inclusive marketing campaigns requires inclusive marketing teams wherein diverse voices can be heard. This is a sine qua non condition for brands to resonate with all their potential customers.     The fight against bias   Bias is everywhere in society, and technology and data are no exception. Far from being neutral, technology and data can perpetuate and exacerbate disparities, prejudice, and discriminatory patterns. Many fields at the core of data marketing can be subject to bias, from insights to algorithms to targeting and performance analysis.   However, tackling bias is a difficult challenge as it can appear in many forms and on multiple occasions. It can be intentional (e.g., a decision to exclude a certain ethnic group from a campaign) or unintentional (e.g., combining multiple data targeting dimensions such as income and location that could de facto exclude minorities living in certain areas). It can play out at an individual level (e.g., due to the personal values of an employee) or at a company level (e.g., due to a lack of diversity in a product development team). It can stem from organizational inertia, negligence, or ignorance. (e.g., if a community was never targeted by the brand, a predictive model using historical data can incorrectly conclude the community is less likely to purchase its products and thus that the brand should not target this community in the future). It can emerge from within or be imported into the organisation (e.g., by using incomplete or poor-quality data from third parties). It can be a combination of the factors listed above and more, which makes bias detection even harder.   Because of the omnipresence of bias across organisations, it is crucial for companies to actively seek to identify and eliminate bias through various, overlapping strategies.   According to the iProspect 2020 Global Client Survey, a majority (52%) of marketing teams are now diverse and inclusive (+9% YOY). This is an important milestone as minority groups should not only be visible in consumer personas, but also around the marketing table.     Guidelines and best practices on diversity and inclusion are the second option favoured by brands (44%), followed by multidisciplinary bias training (32%, +8% YOY).   From the results, it seems that brands are increasingly concentrating their efforts on the people within the organisation (e.g., through recruitment, training, committees) to drive change, rather than relying on external partners or focusing on processes. However, the latter should not be overlooked. An external perspective can be useful for organisations to look beyond their filter bubble (e.g., through advanced analysis of data and algorithms, hiring process testing, or consulting on website design accessibility), and a systematic audit of product development and marketing campaigns can prevent oversights.   Marketers should keep in mind these additional considerations to reduce bias specifically in data marketing: As with the move toward privacy and Intelligent Tracking Prevention (ITP), the fight against bias calls for better data. Question the quality of the data you use in your marketing campaigns to prevent bias from spreading into data-powered activities. Your teams are not the only ones who should have frequent bias training. Your predictive models should be retrained regularly as well to learn from new, real-world data. Tools such as the AI Fairness 360 by IBM and The Linux Foundation can help you understand the bias in machine learning models. Keep investing in diverse teams. Human critical thinking is an essential safeguard to remove blind spots automation can generate.     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

dentsu bolsters global media offering by bringing together iProspect and Vizeum brands to form future-focused iProspect brand globally

dentsu bolsters global media offering by bringing together iProspect and Vizeum brands to form future-focused iProspect brand globally

London, Jan 12th - dentsu today confirmed its intent to integrate iProspect and Vizeum to create a new, future-focused, end-to-end global media agency under the iProspect banner. By integrating these two award winning agencies, dentsu brings Vizeum’s media strategy and planning, storytelling, and brand building capabilities together with iProspect’s digital expertise, audience knowledge, and performance mindset. Clients will have access to the unique capabilities of both agencies, all from one integrated team leading the new territory of performance-driven brand building by delivering digital-first media strategies underpinned by data and technology at every touchpoint in the consumer journey. The new iProspect media agency will draw from the broader dentsu capability set, allowing clients the flexibility to seamlessly build bespoke and specialised teams with resources from across the network. Clients will gain access to expansive new audience insights, integrated and more effective strategies, market-leading planning and activation, and unparalleled business performance. Carat and dentsu X clients will continue to access industry leading digital performance services through our dentsu Media Scaled Services. The new iProspect entity will be led by Global President Amanda Morrissey, bringing together more than 8,000 media and performance specialists across 93 key global markets. “iProspect is designed for clients at the intersection of brand and performance. We believe brand drives performance, and performance drives brand. We no longer exist in an ecosystem where these elements can be planned and bought separately. We must look at business and brand goals through a combined lens, bringing accelerated growth for our clients,” said Amanda Morrissey, Global President, iProspect. “By focusing on how consumers behave in their digital world and applying that to real world scenarios via a highly connected and creative use of all channels, we position our clients to combine the learnings from the short and long term to drive more effective business growth today and tomorrow.” Peter Huijboom, dentsu international Global CEO Media & Global Clients, said, “At dentsu our goal is to help our clients to make meaningful progress and thrive in a world of change. Because we know people better than anyone else, we deliver human-centric solutions designed to drive growth for our clients and good in society. By bringing iProspect and Vizeum together we are creating a global digital-first, end-to-end media proposition. This will give our clients a scaled choice that sits alongside Carat’s brand-first approach and dentsu X’s experience-driven approach while also allowing greater access to our Creative and CXM service lines.” The new agency will now be launched through a phased market plan over a three-month period with a target completion date of 31st March 2021. This integration is a proof-point of dentsu international’s strategy to simplify how it operates to deliver even greater agility and flexibility for clients through a more focused portfolio of six leadership brands. 0

3 mins read

Brands for Good

Brands for Good

At Dentsu Aegis Network we are proud to be a member and founding partner of SB Brands for Good+, which mission is to make sustainable living easier and more rewarding for people around the world. We, along our members, work with experts on the leading edge of sustainability, innovation and marketing to harness our mission’s reach, resources and influence to make the “good life” more attractive and attainable at scale.    We joined because we believe this is more than the “right thing” to do. Consumerswill follow and reward the brands who lead with more delightful products and experiences, more meaningful relationships and more measurable actions that help them live better today and create a more sustainable future for all. In 2019, our iProspect Chile office, along with B&W Communications and George Films went to Cannes Lions to find others that share the passion of SB Brands for Good+, finding exemplary people, work, and organizations that are doing just that: building brands for good.  We invite you to watch the first ever Chilean documentary of Cannes Lions focused on what matters: Brands focused on genuinely making this a better world.     0

1 mins read

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