It’s been one week since the highly anticipated Cannes Lions 2023 – the event of the year for advertising and creativity. We’re thrilled to share our top four key takeaways from the event, showcasing what the industry will prioritize in the upcoming year.
Signal loss
At Cannes Lions 2023, experts underlined the detrimental effects of signal loss on advertising and emphasized the significance of having diverse channels. Discussions emphasized the importance of adapting paid media strategies to align with evolving consumer behaviors in order to remain relevant in the ever-changing landscape.
Urgency in planning and avoiding being caught without a solid strategy was a common theme throughout the event. Alternative identifiers, like first-party data, were highlighted, as they prioritize privacy-centric approaches. Contextual advertising emerged as a key part of the solution, providing relevant ads that fit seamlessly into the user’s experience.
Collaboration
Collaboration was a major theme at Cannes Lions 2023. Attendees explored topics such as maintaining privacy and identifying the right attributes for effective targeting. Clean rooms were discussed as a way to ensure privacy when sharing data, and highlighted partnerships as the key to unlocking interoperability within the advertising ecosystem. The discussions underscored the need for industry players to join forces and collaborate on solutions that benefit all stakeholders in the ecosystem.
“What makes Cannes unique is that you have a lot of decision makers in the room at the same time. This leads to more efficiency in terms of coming up with goals and objectives and really getting to the heart of the key aspects for us to build partnerships.”
alison omealia, vp, customer success, experian
Personalization
Personalization was a key topic of discussion at Cannes Lions 2023, with its growing significance in advertising taking center stage. The event emphasized the need to focus on serving up tailored content that resonates with individual consumers, cultivating brand affinity.
The intersection of science and art was highlighted, emphasizing the role of data-driven insights and creativity in supporting frequency capping and delivering engaging content.
Advertisers are adapting to cookie deprecation by shifting from cookie-based third-party targeting to first-party data solutions. This is due to the significant changes in the consumer privacy landscape, which have limited advertisers’ access to signals emitted by consumers through their devices and browsers. As a result, alternative IDs like UID2, Ramp ID, and ID5 are emerging as viable options for advertisers to continue personalized targeting.
Balancing AI and creativity at Cannes Lions 2023
Participants shared invaluable insights on how to strike the right balance between harnessing AI’s capabilities and nurturing creativity to keep the human touch alive. The event emphasized the importance of understanding the boundaries of AI while utilizing tools that drive innovation and imagination. Attendees explored the dynamic roles that AI provides and discussed how it can help push the boundaries of their creativity while still keeping the human element intact.
As technology continues to advance, so does the need for advertisers to adapt their approach and integrate AI in a way that enhances their creative output.
Experian events at Cannes Lions 2023
We hosted a series of events that included a kick-off event and four panels. The activities were designed to provide attendees with valuable insights on various topics related to advertising and data privacy. Here’s a recap of what we covered during the week.
Experian’s Cannes Lions kick-off event
We co-hosted a kick-off event on Sunday with Audigent. It was a successful event that brought people together to launch an important week in the AdTech industry and build connections with clients and prospects alike.
Data on the sell-side
Ongoing signal loss has marketers, agencies, and platforms tapping directly into the sell-side for high-quality audience and context. In this panel, industry experts from Truthset, Captify, Audigent, Newsweek, and PubMatic joined Experian to discuss the imminent disappearance of cookies and the need to adapt and future-proof data privacy strategies. The deprecation of third-party cookies presents an incredible opportunity to redefine data privacy practices and empower consumers.
Our panelists emphasized the need to adapt and invest in alternative identifiers in order to thrive in a cookie-less future. Publishers were urged to create valuable content, engage in first-party activities, and consider the next generation of consumers who are growing up without traditional identifiers. The fragmented landscape calls for a variety of tactics and partnerships, while AI can provide opportunities to explore beyond deterministic identifiers, fostering creativity and innovation in advertising practices.
Stacking the marketer’s toolbox for success
In partnership with Adweek Abroad in Cannes, industry leaders from FreeWheel, Tubi, and Instacart joined Experian to discuss opportunities for brands to unlock deeper, richer, and more scalable insights into current and potential customers.
The panelists highlighted several key considerations, including building a robust first-party data strategy, ensuring accuracy in data quality partnerships, and establishing better-connected communications and relationships with consumers.
Participants acknowledged the value of consumer data and urged advertisers to remain purpose-driven, always putting the viewer first. The freshness and recency of data were identified as critical factors for establishing quality connections with consumers and staying attuned to consumer trends.
What does the future of identity hold?
During this panel discussion, industry leaders from the IAB, MiQ, Cint, Direct Digital Holdings, and Tatari joined Experian to explore the future of identity.
The panelists discussed the challenges cookie deprecation poses in programmatic advertising and the need for new identifiers and solutions. They also acknowledged the expanding media landscape and the importance of frequency capping and attribution measurement in a post-cookie era. Trends to watch for include the potential consolidation of identifiers and the movement of first-party data in-house by larger media companies. Panelists shared different views on cookie deprecation readiness and the overhype of AI in the industry.
Streaming takes center stage
OMG, Roku, AMC Networks, Paramount, and Disney joined Experian to discuss streaming TV as a fragmented and evolving landscape. The panelists debated whether it has become a performance channel and emphasized the need for client education, attribution, and optimizing performance metrics. They also discussed reaching audiences across different mediums with data interoperability, audience targeting, and reliable identity solutions. The panelists explored the emerging trend of AI, optimizing ad placement, refining targeting, streamlining creative approval, and enhancing ad breaks.
“A lot of trends in AdTech are relevant to TV, but the most consistent trend has definitely been having a solid identity source throughout the whole lifecycle of a campaign within TV.”
ali mack, sr. director, platforms, experian
Let’s keep the conversation going
The innovation and possibilities for signal loss, collaboration, personalization, and balancing AI and creativity are limitless, but understanding exactly how to get there is what can make all the difference.
As we wrap up another successful week at Cannes Lions, let’s use these conversations as an opportunity to advance together toward a more connected future — what trends are you most looking forward to? If you’d like to discuss any of these topics further, get in touch with us!
Check out more Cannes content:
- Insights from a first-time attendee
- Four new marketing strategies for 2023
- Exploring the opportunities in streaming TV advertising
- The future of identity in cookieless advertising
- Maximize ad targeting with supply-side advertising
Follow us on LinkedIn or sign up for our email newsletter for more informative content on the latest industry insights and data-driven marketing.
Latest posts
It seems that every time I go into a store today, I am offered a loyalty card. From one of my favorite local restaurants to my shoe store VIP program, I feel like I am getting a host of emails and points at every turn. Statistics support my theory: according to a recent Experian Data Quality study, 91 percent of organizations use loyalty programs. Why did they become so prevalent? Today’s consumer is more empowered than ever before and driving major change within business. In the era of Yelp, digital channels and a 24/7 shopping cycle, organizations have less control. Just look at the shoe market, which you can tell I pay attention to. It used to be that you would purchase whatever your local department store or brick-and-mortar retail had to offer, which might be 50 different options. Now, you can go online, read reviews and browse hundreds of different choices based on style and color. In fact, last night I went online and searched for black boots and scrolled through six pages of different options! Loyalty programs are a counter balance to that choice and empowered customer behavior. They make sure that while I am shopping for shoes, I am probably doing it through my preferred store and earning reward points for free merchandise. And through the loyalty process, companies are collecting a lot of data. Customers usually need to provide more than three types of information to sign up, the most popular being email, followed by name and phone number. However, collecting this information accurately isn’t always easy, which is why poor data collection is one of the leading problems for loyalty programs. Eighty-one percent of companies face challenges related to these programs, the two biggest being not enough customers signing up and poor contact data. Inaccurate data means that a customer has signed up, but the marketer is unable to communicate with them in the desired channels. This clear drop in communication and a potentially bad customer experience could be by improved data collection. Sixty-four percent of respondents say this is a needed improvement. Let’s go back to my shoe retailer example. If they had collected my email wrong, I wouldn’t get my email confirmations or offers around upcoming sales. If they got my address wrong, I wouldn’t be receiving my shoes. Considering how much money I spend on shoes annually, which I am ashamed to admit, if any of those items went wrong, I might switch to a competitor. That can equate to a lot of money annually, especially when you look at it across a large number of clients. When a customer chooses to sign up for a loyalty program, they are making a commitment to the company and expecting something in return, be it points, free shipping, coupons or just company updates. However, if bad contact information is collected, then the consumer often never receives the benefits, resulting in a bad customer experience. In the next year, marketers need to data validation in place to ensure information is accurate upon collection. This type of software can be implemented across all channels where information is collected and ensure data is accurate while the consumer is still engaged. If information is accurate when it is collected, then loyalty programs have a better chance at engaging consumers and actually seeing the benefit that a loyalty program can provide. To learn more about loyalty programs and the research mentioned above, please read our new white paper, Driving customer loyalty.
When building marketing plans these are the top trends marketers need to know and consider Crowdsourcing, Programmatic Buying, The Internet of Things … these are all concepts that today’s savvy marketer needs to be thinking about. We can’t emphasize it enough: the marketing landscape changes almost daily, sometimes without us even realizing it. The three concepts I just mentioned weren’t even part of our lexicon a few short years (or even months) ago, but are now important trends marketers need to know and consider when building out marketing plans. Take crowdsourcing, for example. Experian Marketing Services research showed that the number of ratings or reviews posted online has increased by 30 percent in the past two years and the number of adults who say they pay attention to such reviews has increased by 33 percent. Brands are capitalizing on the trend by engaging their consumers in communities that share their content and even help them design new products. Programmatic Buying, which refers to the automation of online ad buying, has exploded over the last few years as publishers like AOL have started focusing less on selling remnant inventory and started offering their premium inventory to advertisers up front. This has led to the packaging of “audiences” that marketers can use to target customers across channels and devices. And one of this year’s biggest trends is the rise of the “Internet of Things,” which is, essentially, everyday objects that connect to the Internet to improve efficiency, connectivity and user experience. Think smart light bulbs that you can control from your smartphone, or smart thermostats that also connect to your phone and allow you to adjust the temperature in your house before you get home from work. If you find these concepts interesting, please read “Trending Now” to get more insights into these trends marketers need to know and several other fresh marketing ideas that are changing the way marketers are thinking about planning today.
Q&A with John Fetto, Senior Analyst, Marketing & Research Earlier this year, Experian Marketing Services released our Cross-Device Video Analysis. The analysis has generated such strong and sustained interest from marketers and the media, we wanted to explore the subject further. The following is an exchange with the report’s lead author John Fetto who answers some common questions that we’ve received since the analysis was published. Q: In the Cross-Device Video Analysis, you report that consumers are “cutting the cord” on pay cable and satellite television services. Can you elaborate on this trend? What’s driving it? According to our research at Experian Marketing Services, U.S. consumers are increasingly likely to have high speed Internet at home but no cable or satellite TV subscription. There are two primary consumer trends driving this: 1) Households that never subscribed to a pay TV service are now upgrading to broadband Internet; 2) Households that previously subscribed to both pay TV service and broadband Internet that have since cancelled the cable or satellite TV subscription. While the vast majority of U.S. households pay for either cable or satellite TV, an estimated 15.1 million (or 12.9 percent of households) do not. That’s up from 13.5 million households (11.9 percent) who didn’t pay for TV in 2009. At the same time, the share of broadband households is also rising. Today, 72.7 million homes (61.4 percent) have broadband Internet, up from 65.0 million homes (56.9 percent) in 2009. As Americans’ Internet connection at home is increasingly fast enough to deliver high quality video content through sites like YouTube, Netflix, Hulu and the like, as well as the ability to consume that online video content across an array of devices ranging from Internet-connected televisions to smartphones and tablets to computers, they are increasingly questioning whether they need to continue paying for TV. And more and more consumers are deciding to cut the cord. Q: With more consumers cutting the cord, how are they consuming video content? While the most commonly used device to consume online video is the smartphone — used by 24 percent of adults during a typical week to watch online video, according to our research — “cord cutters” are primarily using Internet-connected TV to consume online video. In fact, an adult who watches online video on their TV is 3.2 times more likely than the average adult to be a cord-cutter. This means that the Internet-connected TV market is critical in predicting the future of the cord-cutting consumer. As existing devices like Apple TV, Chromecast and Roku are upgraded and new devices like Amazon Fire TV are introduced to the market, consumers will have more and more options to consume online video without sacrificing quality or screen size. As a result, more consumers will be reconsidering whether they need to continue paying for TV. Q: What percent of consumers get their television programming from various sources including cable, satellite, online streaming and free over the air TV? Combined, 87.1 percent of U.S. households subscribe to either cable or satellite TV. While Experian Marketing Services doesn’t specifically measure the percent of Americans who watch TV through an over the air feed (OTA) we know that among those who do not subscribe to cable or satellite, the vast majority (77 percent) still watch TV. And while it’s possible that some are viewing TV from a cable or satellite feed away from home, the most likely source of their TV content would be from OTA sources. That means that at least 10 percent of American adults are watching some TV through an OTA feed. In addition, 48 percent of all adults watch online video each week through a variety of devices. Those who don’t pay for TV are 12 percent more likely than those who have cable or satellite TV to watch online video (54 percent vs 48 percent). Q: The cord-cutting trend has many implications for the cable and satellite companies, but what do consumer-facing marketers and advertisers need to know about this trend? The growth in online video viewing creates many opportunities for marketers. Online audiences can be more easily targeted and served up advertising that is more relevant, responsive and measureable. Marketers can also be more confident that their online ad was actually seen, given that viewers are typically unable to skip ads. And while CPMs for online video ads may generally be lower than those of TV, marketers can use that savings to negotiate costs based on clicks or transactions rather than impressions, giving them a better picture into audience interest and insights to inform their budget allocation. Millennials are the most device “agnostic,” with more than one-third saying they don’t mind watching video on a portable device even if it means a smaller screen. That’s more than double the rate of those ages 35 and older. This decentralized viewing can create headaches for marketers who need to start a relationship with Millennials during this stage of their lives when they’re most open to trying out new brands and have yet to settle down. On the plus side, marketers who do manage to reach this audience will find them much more open to advertising than average. In fact, Millennials are more than four times more likely to say that video ads that they view on their cell phone are useful. So while the challenge is big, so is the potential reward. Download the full analysis to learn more about: Cross-device video behaviors to optimize media mix approach The impact of the growing trend in cord-cutters The rising influence of Internet-connected TV How to get more impact from video content