A new Econsultancy white paper explores the changing role of media agencies as the marketing world embraces data-driven strategies.
Over the last several years, modern marketing has evolved rapidly. Consumers, who only a few years ago could be reached at scale through a few media channels, now spend their limited time consuming media across a large variety of devices, spanning desktop, mobile phone, tablets, and over-the-top devices. They watch more television than ever, but skip more ads; they listen to more music, but less on terrestrial radio; they read more news, but less from traditional sources. They shop more frequently on mobile devices, and are influenced through multiple social channels – and the vast influence of their networks has quickly scaled ‘word of mouth’ to be the most powerful mover of products and services.
This new landscape has seen the rise of a vibrant, yet flawed, advertising technology ecosystem which offers thousands of point solutions marketers can leverage to solve parts of this problem, from procuring digital media, to measuring its effectiveness, to gleaning the key consumer insights that drive product adoption. It has given rise to a new breed of marketer: a CMO who understands traditional marketing, but also enough about technology to help build software ‘stacks’ to handle this new paradigm. Moreover, it has challenged agencies, who are struggling to provide a way to find a balance between the ‘art and science’ of marketing.
A new white paper published by Econsultancy and authored by Krux’s VP for Global Data Strategy, Chris O’Hara explores the current challenges for agencies as they try to navigate the rapidly evolving world of data-driven marketing, and offers suggestions on how they can leverage the data to grow sustainable new business models around data, its collection, analysis, and activation in media channels.
Get a copy of, The Role of The Agency in Data Management.