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February 20, 2010

Our Data-Driven Future

NP: Portsmouth vs. Stoke City

If you're in digital marketing, this column is a must-read. Why?

It is about data -- data in ways we have never before fathomed. The future of advertising is not about social, not about viral videos, not about mobile, not about any new medium or any new ad unit -- but about data. Those who know what to do with this will be the new kingmakers, the new rulers of Madison Avenue -- or the creators of a new Avenue of media.

Why is this so? Because the impression by itself is becoming worthless.

What's important here is that Michael D. Andrew is not saying display advertising is worthless, but a key component in the outdated metrics for measuring display advertising. One of the biggest problems with marketing analytics, I've found, is that revealing phrase "by itself" in Andrew's formulation. Everything is connected. Looking at display as an isolated channel is becoming more and more clearly a fool's errand.

Then there's the impact of social media, which a lot people wave their arms about in ways I don't find particularly compelling, but gets nailed down here:

In this new world, the successful brands will be the ones that speak directly to you. These brands will be able to identify not that you are a likely traveler -- but that you are traveling to Atlanta next week. They will be able to tell not that you are likely to play games, but that you are a hardcore street fighter player with your own custom joystick. The brands that get you are the ones you will reward with your time, your attention, and your wallet.

Now, there's obviously the challenge of pulling this off without egregious impositions on your privacy, and the likelihood that some attempts won't meet that criterion. But the overall picture is one where synthesis of data across multiple channels will be key to successful marketing.

And, again, the key to me getting a real job sooner rather than later, but if the job leads hitting my inbox are any indication, someone's at least at the door and checking their pockets.

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