Forecast 2024 - Brave New Media World? http://bit.ly/2HDg0Hl
Joe: Five years ago a bot was already starting to feed humans ideas. Israel: nature of those ideas will be more sophisticated. Opp to ID anomalies in the data, the more the need for industry by industry data sets become clear. Challenge is finding ways to pay for it, help clients see advantage. Joe: What role will AI play? Louisa: AI and strategies are effectively creatind personality. We’re not there yet. I think we already have an extension of AI living with us, in our pockets. How do we train humans to extract insights? We’ve already seen human capability and technology. All the opps of different sources. I;’m interested in small data. Joe: Take a search campaign that would take 10 people 7 days and turn it around in minutes because they had found the models that worked best. You don’t think machine will be more strategic? Ilana: first step is content vs true activation. Don’t hav e tech infrastructure to track all the data across the journey in the way we want to. Joe: What opportunity has emerged over the last five years vs where you were in 2019? Israel: The rest of trusted authorities as the go-between between brands and purchases. Rise of voice, lack of friction. Why I would or wouldn’t buy something of high value via voice. It has become a way for me to shrink down potential options to a small set. Doable via voice. I might want comfort from reading a review, in future when I recognize that I’m going to behave that way anyway, we’re going to be comfortable trusting what the best product, value is. Will limit brands that are succeeding in any category. Ilana: look at Gen Z and what my daughter is consuming, Dolan Twins. A change in the content that’s being produced and how it’s being distributed and consumed. Bonnie: Take filters from Snapchat, viral from Vine, give to young people. And it came from China. It’s going to be here. Louisa: The lack of adoption of technology by the sell side. Tech being layered, not seeing. Programmatic hasn’t grown signicantly enough. 77 cents of every dollar going to TV. AI, blockchain doesn’t matter. we can’t get fundamental basics right. Value exchange with the consumer, as brand, as agency. Hurtling toward building a people-based database. Joe: What has not changed in five years in 2024? Joe: What has changed? Israel: end of traditional TV will take longer than we expect. Incredible staying power esp. for older generations. Not sure I agree with Ilana on transparency. There are opps across dimensions to increase transparency in inventory. Limited set of publishers. Make sure we’re paying the right people for the impressions we’re buying. Greatest part of the value has more to do with business model, using tech to rethink the way payments work. Paying all participants in the chain to see where money is going. Potential to change fraud equation. Strangle some of the propaganda that we are responsible for. Joe: How pervasive is blockchain adoption? Bonnie: people in banking industry see value of how you can have transaction among various audiences. Louisa: BC is BS. Opportunity behind it, smart contracts, managing multiple stakeholders, interesting. Is that not the new internet? IN five years time, how does BC start to power the new internet? Opportunity is ID management. BC enables individuals to keep a data log on themselves and they can choose who to transact with. Currency for transaction becomes in 2024? Ilana: challenge is scale, allowing for decentralization and security. Israel: like someone invented a new computer at the chip level. To make it on par, the ecosystem has to build everything from OS to cloud services. Trying now to build an infrastructure On par with cloud services. going to take a little while. This is going to be one of the few industry where BC will be a success. Louisa: Goggle holds us back. In BC, would you still need that? Weaning people off crack cocaine. Unless they disrupt their single truth in Google ... Joe: BC deployed, smart contracts. The ID value exchange. Post Cambridge Analytica, in 2019 people got idea of value exchange. In 2024, there is a marketplace where consumers are arbitraging themselves? Joe: Regulation and self regulation. How much does Mad Ave. shift toward ethical models in data? Israel: we’re going to need advertisers to push us. Our KPIs are not, how ethically are you handling the data. Then we will have license to push as hard as we need to. Louisa: Everyone’s got a secret sauce as to how they make their chicken gumbo. Whatever you spit out on the backend, you must make sure you’re not breaking trust with the consumer. Joe: Locaction data being bought and sold. Have done so? Bonnie: If you use it in a way that is ethical, consumers want to give you the data. Want to get a dog food ad, not a cat food ad. Being able to use location data to help make relevant experiences is something consumers want. Israel: It’s terrifying. A fundamental misunderstanding, maybe willful, as to how data is being used by advertisers. If I’m not building a rules based engine for dealing with thousands of people at a time, I am wasting my client’s money. I don’t want access one on one. It’s not something we would enable our teams to use, to track one individual. needs to be a forceful response to stories in the press. Joe: I’m hopeful that industry swings toward more ethics in general. More accountable for where it places its bets on society? Industry was subsidizing platforms that weren’t the best actors. Not always the best managers of people’s ID and data. Does industry have a role in where it places its bets? Israel: we have that responsibility. Another place where I think we need the advertisers to take a stand. We can help them deliver against an ethical vision that they have. Bonnie: Some of it was unanticipated. Once it happened, ID’d, it was such a big challenge. Now it’s so ingrained in our society, we have to take a high road stand. Mobile Marketing via MediaPost.com: mobile http://bit.ly/2oB2PsH January 29, 2019 at 10:42AM
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