As a marketer, you know that the digital landscape is always changing. That’s why it’s important to make sure you’re equipped with the right tools every step of the way – no matter how rapidly things change. You want to ensure your strategies and tactics stay ahead of any changes in technology or consumer behavior, so what new marketing strategies should be in your toolbox in 2023?
Discover what industry leaders from Experian, Adweek, FreeWheel, Tubi, and Instacart had to say about what should be in every marketer’s toolbox in 2023 at Cannes.
Keep reading to learn the top four new marketing strategies you need in your marketing toolbox for 2023 and beyond.
1. A plan for signal loss
The first item you should have in your marketing toolbox is a plan for signal loss.
The phasing out of third-party cookies presents both a challenge and an opportunity. This shift not only poses challenges but also opens up opportunities for alternative strategies.
On the one hand, it makes it more difficult to track users across channels and measure the effectiveness of marketing campaigns. On the other hand, it forces marketers to focus on building relationships with their customers and collecting first-party data.
Consumer behavior is changing
When we consider signal loss in a traditional sense, we think of the implementation of iOS 14, where we couldn’t track click-based data from campaigns. It’s important to reflect on the fact that the paid media ecosystem needed to adapt to new consumer realities.
Younger demographics are less likely to click on ads and instead engage in video environments. They discover brands through platforms like TikTok or Instagram. It’s crucial to understand how people behave, where they discover products, and where influence takes place. This understanding becomes even more vital when targeting a young audience demographic.
Four things to consider when planning for signal loss
There are four things you should consider when building out a plan to address signal loss and fragmentation.
Channel diversification
You need to reach your customers on the channels where they are already spending time, such as social media, email, and your own website. You should work with platforms that have first-party data to understand how your customers interact with your brand.
Data privacy
You need to be transparent about how you are collecting and using customer data. You should also anonymize data whenever possible.
First-party data
First-party data is now more crucial than ever, awakening its importance in shaping our actions. The combination of channel diversification and first-party data will be essential in the years to come. By focusing on these two areas, you can build stronger customer relationships and create more effective marketing campaigns.
Contextual targeting
Contextual targeting is emerging as a viable method to deliver more relevant content to your intended audience.
By embracing signal loss, the alternative new marketing strategies that are emerging as a result, and adopting a privacy-centric mindset, you can navigate cookie deprecation.
2. Collaboration
The second item you should have in your marketing toolbox is collaboration within the AdTech ecosystem.
To address signal loss and changes in privacy, moving toward a more collaborative, holistic marketing ecosystem is key.
Two ways we can achieve better collaboration
Here are two ways we can create better collaboration in the AdTech ecosystem.
Enable interoperability
We should aim to create an ecosystem that fosters collaboration between marketers, publishers, advertisers, ad tech companies, and more. When we enable seamless interoperability, everyone can use the best data available.
Use clean rooms
We are witnessing a growing trend of collaboration between parties, where buyers and sellers share data in these secure environments. Clean rooms can help us develop data strategies in a controlled manner.
3. Generative artificial intelligence (AI)
The third tool you should have in your marketing toolbox is generative AI.
Benefits of implementing AI
There are three main benefits to implementing AI within your marketing strategy.
Enables creativity
Although AI and machine learning have long been part of our toolbox, this moment marks an extraordinary acceleration that expands our capabilities. Copywriters can now create visuals, and art directors can write compelling copy. It’s an extension of what we’re capable of, potentially alleviating the burden of repetitive tasks and enabling more time for collaboration, creativity, and strategic thinking.
By embracing generative AI, we can preserve valuable talent, prevent burnout, and invigorate the advertising industry.
Enables more personalization
The rise of personalization with AI has significantly increased the demand for tailored experiences. People now willingly allow AI agents to read their emails, hoping for quicker and easier responses. This shift signifies a change in the previous emphasis on privacy and consumer preferences. Consumers now see the value in exchanging personal information for more targeted services.
E-commerce has already witnessed this transformation with customized ads based on individual preferences and behaviors. For instance, if a CPG brand notices you’re not purchasing meat, they won’t serve you ads for meat products.
However, it’s crucial to strike the right balance between being useful and intrusive. Users want relevant information that aligns with their needs without feeling intruded upon.
As we navigate this path, we must ensure that personalization remains beneficial and respectful of user preferences.
Helps drive impactful results and customer satisfaction
The tool is a perfect analogy for improving your job performance and business operations. Having the right data input to feed the machine is crucial, just like using the right ingredients to cook a perfect meal. Keeping the consumer in mind throughout the process is key. You can ensure customer satisfaction by putting the right ingredients in and allowing the machine to work its magic. Scaling up, repeating, and refining the process will drive impactful results.
4. First-party data
The fourth item you should have in your marketing toolbox is first-party data.
Benefits of implementing a first-party data strategy
Moving from a third-party cookie world to a first-party cookie world brings about significant transformation. Here are two benefits of implementing a first-party data strategy.
Greater accuracy
The shift to first-party cookies ensures greater accuracy, enabling us to establish critical mass through secure partnerships. This empowers us to strengthen and refine our personalization capabilities, much like Amazon’s ability to anticipate customer needs before they arise. When you can predict and understand customer behaviors with remarkable precision, you can reach your customers with tailored and creative ads.
“Building a robust first-party data strategy should be a central discussion for marketers, involving key stakeholders such as CEOs and CMOs. Quality and precise data are paramount, and while first-party relationships with consumers form the foundation, even established brands benefit from strategic partnerships. Together, we can unlock the potential of accurate and meaningful data-driven marketing.”
jeremy hlavacek, cco, experian
Identify high-growth audiences
First-party data can help you identify audiences with the greatest growth potential, ultimately optimizing marketing dollars for greater efficiency.
Watch our Cannes panel for more new marketing strategies for 2023
We hosted a panel with Adweek in Cannes that covered what should be in every marketer’s toolbox this year. Check out the full recording below to hear from leaders at Tubi, Freewheel, Instacart, Adweek, and Experian.
Check out more Cannes content:
- Our key takeaways from Cannes Lions 2023
- Insights from a first-time attendee
- Exploring the opportunities in streaming TV advertising
- The future of identity in cookieless advertising
- Maximize ad targeting with supply-side advertising
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Buyers can now put Experian’s audience and contextual intelligence to work in Google Ad Manager Curation in two ways: through off-the-shelf solutions available directly in Google Ad Manager, or through Custom Curation packages that Experian builds using Google Ad Manager’s inventory supply. Together, these options bring Experian’s consumer data foundation closer to the Google supply agencies already buy, with the flexibility to choose between a ready-to-use solution and an Experian package tailored to specific campaign goals. Why targeting at the source matters Many audience strategies still apply targeting on the buy side, which means signals pass through multiple systems before an impression is evaluated. Each step can shrink the pool of requests where the audience is still recognizable, so a carefully built strategy can reach the auction at a fraction of the scale it started with. Google Ad Manager Curation moves segment evaluation closer to the ad request. When a request matches the selected Experian segment, Ad Manager sends the bid request with the associated Deal ID to the buyer’s DSP. This more direct path can support stronger match and deal-transaction rates, more accurate forecasting, and better access to the audience defined in the strategy. As AI shapes more media decisions, the quality and provenance of the data feeding those systems matter more. Evaluating audience or contextual criteria closer to the source helps preserve the connection between the strategy and the impression being considered. Two ways to get started The right entry point depends on how much customization the campaign requires. Buyers can access Experian solutions off-the-shelf directly in Google Ad Manager or work with Experian to build a Custom Curation package using Google Ad Manager inventory supply. Start off-the-shelf For buyers who want direct, self-service access to Experian audience and contextual solutions. Experian solutions are available off-the-shelf in Google Ad Manager, giving buyers a straightforward way to select the data or contextual strategy that fits their campaign and create packages through Google Ad Manager’s Curation capabilities. Experian Audiences Experian Audiences draw on a deterministic offline identity foundation that represents more than 250 million U.S. consumers and 126 million U.S. households. Buyers can choose from Experian’s Audiences spanning demographics, lifestyle, financial signals, media habits, and household characteristics. That depth adds real-world consumer context beyond digital behavior alone. Contextual Experian contextual solutions give buyers a way to reach relevant environments without relying on identity. Buyers can select contextual audiences aligned to specific interests, categories, and content to inform where media appears. Experian also offers Predictive Indexed, which uses Experian audiences to predict the contextual categories and pages to target based on the likelihood that consumers visiting those environments fall within the selected audience. This gives buyers an audience-informed way to approach contextual activation without requiring identity at the point of activation. Build a Custom Curation package For buyers who need a strategy tailored to specific audience, contextual, and inventory requirements. Experian can build Custom Curation packages using Google Ad Manager’s inventory supply based on the targeting criteria that matter for a campaign. Where off-the-shelf solutions draw on Experian data, custom packages can also incorporate partner audiences and a brand’s own first-party audiences. Packages can combine Experian audiences, partner audiences, a brand’s own first-party audiences, contextual signals, and inventory or site criteria. Experian applies those criteria against Google Ad Manager inventory supply and brings the data, targeting, and inventory together into a single curated deal. This gives buyers a way to combine audience and supply decisions rather than managing each component separately. The approach can be tailored to the campaign. A buyer might start with a defined audience and add contextual or inventory criteria, bring a brand’s established first-party audience into the strategy, or build around specific supply and audience-quality requirements. Choose the path that fits the campaign Both paths do the same underlying thing: they move the audience or contextual decision closer to the ad request, before signal loss builds across the path. Whether a campaign calls for something ready to use or a package built to spec, the result is a more direct line from strategy to impression. Ready to get started? Explore Experian solutions available off-the-shelf in Google Ad Manager or contact your Experian representative to request a Custom Curation package. Latest posts