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
The holiday season is right around the corner and retailers are gearing up for a massive influx of customers, both new visitors and returning loyal patrons. But, organizations need to make sure they’re prepared to handle the influx of business. Data quality should be a priority for retailers at any time of year, but even more so as the holiday season approaches. During this time, it’s important for companies to provide customers with relevant shopping offers. When consumers shop for holiday gifts for their friends and families, they have countless directions to which they can turn. In order to prevail in competition, retailers need to provide customers with relevant offers and messages. Unfortunately, many businesses fall short in this regard. According to recent research from Experian QAS, organizations feel that, on average, 25 percent of their data is inaccurate. Consumers are frantically looking to find deals on products that meet their holiday needs, but loyalty offers may not be reaching consumers. One reason for the difficulty is the messy nature of companies’ customer databases. Retail businesses are working hard to gather as much information as possible about the consumers who patronize them, but all too often, information is riddled with errors. These errors have become more prevalent in recent years due to the proliferation of mobile apps, web interfaces and social media channels. There are so many different channels that companies now interact with people through an average of 3.27 channels. This poor data quality is hurting organizational bottom lines. Experian QAS found that an average of 12 percent of departmental budgets are wasted due to inaccuracies in contact data. During the 2013 holiday season, consumer spending is expected to increase by at least 11 percent. Retailers need to be certain that they improve data quality prior to the holiday season to ensure communications reach consumers and resources are maximized in order to take advantage of the expected increase. Be sure to check out our new data quality infographic.
Experian Marketing Services’ Head of Global Research Bill Tancer appeared recently on Fox Business News to talk about new holiday shopping trends, including why both retailers and consumers are starting the 2013 season earlier this year. “We are seeing the eventual extinction of Black Friday,” says Tancer. “What we see in our data is that retail is really changing. The consumer is relentlessly searching for that deal.” In fact, as Tancer notes, the hyper-connected, digital consumer is already searching for holiday deals. Hear more from Tancer in this clip. Watch the latest video at video.foxbusiness.com Tancer and other Experian Marketing Services data experts will discuss holiday marketing trends at an upcoming webinar; register for more insights and tips.
On some level, collecting data and analyzing it to find meaningful conclusions has always been part of how marketers go about connecting with consumers. Their strategies have improved dramatically over time, though. Perhaps in a previous era, marketing executives were only able to make sweeping generalizations about large swathes of the population. But, as marketers have gathered more data on individual consumers, they’ve found ways to fine-tune their searches. They’re no longer messaging to groups in vague terms. Smart Data Collective recently examined the marketing world’s transition away from broad stereotyping toward better targeted forms of data mining. Josh Brown, a member of the marketing team at business and IT consulting company Iconic Mind, argues that this era of overgeneralization is coming to an end. We now have the capability to zoom in on the specific customer. “Big data is how successful companies are building more detailed models of consumer behavior,” Brown wrote. “Instead of relying on the traditional demographic models that marketers used when we were operating in a mass consumption environment and had nothing better, big data capitalizes on developing market trends to allow businesses to become far more specific when segmenting their customers.” Brown cited Amazon.com as an example. The online superstore is notable for its targeted recommendations of products that shoppers see every time they log on to the site – the advisements are impressive because they’re usually right up the customer’s alley. Amazon doesn’t generate these ideas by making guesses based on whether the consumer is old or young, male or female – instead, the site takes in specific information about people’s buying histories and looks for similar products. This approach is quickly becoming mainstream. It’s not hard to understand why – people don’t like being reduced to profiles of their demographic characteristics. Consumers are expecting more from the companies they do business with. Thanks to the rapidly improving technologies that companies use for data collection, marketers can be more targeted and make more intelligent interactions. However, to take advantage of these new technologies, marketers need to maintain high quality data. Without a data quality strategy, customer information will be spread out across the organization, making it difficult to make intelligent marketing offers. To learn more about improving your understanding of consumers, check-out our infographic on building a single customer view.