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
Follow us on LinkedIn or sign up for our email newsletter for more informative content on the latest industry insights and data-driven marketing.
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In the digital age, print coupons are dinosaurs, right? Not one bit. In fact, according to Experian Simmons, users of printed coupons — those obtained from newspapers, magazines, mail, etc.—outnumber users of digital coupons by a margin of almost 3-to-1. As of February 14, 2011 (the latest date for which data was available at the time of this post), 68% of all U.S. adults said their household uses print coupons, a number that has remained relatively unchanged during the past five years. 68% of all U.S. adults said their household uses print coupons, a number that has remained relatively unchanged during the past five years. By comparison, Experian Simmons also reports that 22% of all U.S. adults say their household uses digital coupons obtained from email or the Internet. That figure may be lower than the usage reported for any measured type of print coupon, including those handed out in or near stores, but adoption of digital coupons is growing: in 2005, just 12% of American adults used digital coupons. Smartphones adoption will continue to propel digital coupon use to historic highs in the months and years to come. According to an analysis featured in the 2010 U.S. Household Consumer Trend and Benchmark Report, 34% of U.S. iPhone owners use digital coupons compared with just 21% of non-iPhone owners. Interestingly, use of print coupons among iPhone owners doesn’t suffer a bit. In fact, as of February 14, 2011, 68% of iPhone owners reported that their household used print coupons versus 64% of non-iPhone owners, making it obvious that merchants should give their customers an option of using both print and digital coupons. For further consumer insights, download the 2010 U.S. Household Consumer Trend and Benchmark Report, which includes trends on economic outlook by household income, charitable contributions and planned automobile purchases.
Spiders, Rams, Seminoles, Golden Eagles, and Bulldogs. This is one way to describe the diverse collection of Cinderella teams that have advanced to the Sweet 16 in this year's NCAA men's basketball tournament. Four of these teams, the University of Richmond, Virginia Commonwealth University (VCU), Florida State, and Marquette, take their double-digit seeds to the next round in hopes of reaching the Elite 8. Butler, last year's Cinderella story, is seeking a visit to the Final Four for the second straight year. Interestingly, Richmond, VA is the home market for two of the Sweet 16 teams. These are the University of Richmond and VCU. Even more interesting is the fact that these two teams are on a collision course. With wins in the next round they would meet in the Elite 8 for a prized spot in the Final Four. With their surprise victories in the tournament so far, what these teams have in common is being labeled “bracket busters.” A more extensive market analysis uncovers other similarities, plus some notable differences. Here are highlights from profiles of the home market areas for this year's Cinderella teams using data from Experian's Mosaic consumer lifestyle segmentation system and Experian Simmons market research. The following statistics are based on the home markets of the five Cinderella teams. All four Cinderella teams hail from markets with above average interest in college basketball. Milwaukee, home of 11th seeded Marquette, has the highest concentration of adults who are interested in college basketball (28.1%). This is 11 percent relatively higher than percentage for the total U.S. Milwaukee also has the highest percentage of adults who said they watched last year's men's NCAA Division I tournament (17.3%). This is a relative six percent higher than the total U.S. The 10th seeded Florida State Seminoles hail from Tallahassee, which has the second highest percentage of adults with an interest in college basketball (26.9%). Richmond, where both 11th seeded VCU and 12th seeded Richmond are based, is just behind Tallahassee when it comes to the percentage of adults who are interested in college basketball (26.7%). Indianapolis has the lowest percent of residents who are interested in college basketball (26.3%), but that's still a relative four percent higher than the U.S. as a whole. Although interest should be very high this year, Richmond and Indianapolis (15.8% each) have the lowest percentage of adults who watched last year's tournament. Cinderella Team Market Snapshots Richmond, VA Home market of: Richmond Spiders, VCU Rams Sweet 16 opponents: Kansas, Florida State The top two segments in Richmond representing 30% of the market's households are: Metro Minority Communities (18.1%) comprised of married couples and single-parent minorities earning above average incomes from a mix of service industry and white-collar jobs in transportation, health care, education, and public administration. Urban Commuter Families (11.5%) comprised of upscale, college educated Baby Boomer families and couples living in single detached homes in city neighborhoods on the metropolitan fringe. Other interesting facts: Most over-represented segment is Metro Minority Communities (3.8 times the national average) Percent of adults with interest in college basketball is 26.7% Percent of adults who watched last year's men's college basketball tournament is 15.8% Tallahassee, FL Home market of: Florida State Seminoles Sweet 16 opponent: VCU Rams Similar to Richmond, the top two segments in Tallahassee are Metro Minority Communities (14.8%) and Urban Commuter Families (6.9%). The two segments that account for the next highest share of households are: Struggling City Centers (6.7%) comprised of young, single and single-parent minority renters living in low-income city neighborhoods. Rural Southern Living (6.5%) comprised of lower-income blue-collar couples and families living in sparsely settled mobile home communities. Other interesting facts: Most over-represented market segment is College Town Communities (6.2 times the national average) Percent of adults with interest in college basketball is 26.9% Percent of adults who watched last year's men's college basketball tournament is 16.8% Milwaukee, WI Home market of: Marquette Golden Eagles Sweet 16 opponent: North Carolina Tarheels The top segment in Milwaukee representing 11.2% of households is Urban Commuter Families (as described above). The two segments that account for the next highest share of households are: Small-town Success (10.5%) comprised of white collar, college educated, middle-aged working couples living in newly developed subdivisions outside the nation's beltways. Steadfast Conservative (9.3%) comprised of high-school educated mature singles and couples living in middle-class urban blue-collar neighborhoods. Other interesting facts: Most over-represented market segment is Successful Suburbia (3.6 times the national average) Percent of adults with interest in college basketball is 28.1% Percent of adults who watched last year's men's college basketball tournament is 17.3% Indianapolis, IN Home market of: Butler Bulldogs Sweet 16 opponent: Wisconsin Badgers There are four equal size segments that account for just over 30% of Indianapolis households. These include Steadfast Conservative (8.9%), Urban Commuter Families (7.8%), and Small-town Success (7.1%). All three of these segments are also among the top five in Richmond, Tallahassee, and Milwaukee. What makes Indianapolis unique from the other three markets is a higher percentage of New Suburbia Families (7.2%). These are young, affluent working couples with pre-school children concentrated in fast-growing, metro fringe communities. Other interesting facts: Most over-represented market segment is Successful Suburbia (2.8 times the national average) Percent of adults with interest in college basketball is 26.3% Percent of adults who watched last year's men's college basketball tournament is 15.8%
Tournament play begins this week in the 2011 NCAA Men's Division I Basketball Tournament, which means office productivity is likely to take a hit as fans jump online to watch live streams of games being played during working hours. With online viewing options expanded to mobile and other digital platforms this year, fans have more avenues than ever to get their March Madness fix. In fact, according to a recent estimate by Challenger, Gray & Christmas, total online tournament viewership during work hours is likely to reach 8.4 million hours during this year's tournament. In this latest installment of Experian Marketing Services' continuing March Madness consumer coverage, we'll profile the work life of online game streamers. Is there one down the hall or in the next cube? The answer is almost certainly “yes,” but the “who” may surprise you. According to Experian Simmons, just over 5% of all U.S. adults and nearly a quarter of adult NCAA men's tournament viewers (24%) qualify as likely online game streamers. For the purpose of this analysis, likely online game streamers is defined as those U.S. adults who watched the last NCAA men's basketball tournament who also sought out sports information online or watched online video in the last 30 days. These likely online game streamers must have also visited either cbssports.com or espn.com in the last 30 days. Fully 79% of likely online game streamers are employed either full-or or part-time, with 59% working 40 or more hours a week. Department managers and IT staff-have reason to be concerned about a loss in productivity during March Madness: fully 79% of likely online game streamers are employed either full-or or part-time, with 59% working 40 or more hours a week. Don't be so quick to suspect that colleague who always shows up late and goes home early as a game streamer. A safer bet would be the guy who's always at his desk when you get in and still there when you head out. In fact, one-in-ten adults who work more than 40 hours a week (11%) are likely online game streamers, meaning they're more than twice as likely as the average adult to be checking out the game online. Remote employees who work at home often get a bad rap with office “suits” sometimes assuming their pajama-clad colleagues fall prey to distractions. Actually though, Americans who work from home are no more or less likely to be likely online streamers than those who don't work from home. Likewise, the self-employed are no more or less likely to be online game streamers than laborers who work for “the man.” Interestingly, Experian Simmons found a direct correlation between company size and a worker's chance of being a likely online game streamer. Specifically: Those who work in companies with fewer than 100 employees are 17% less likely than the average American worker to be likely online game streamers. Those who work in companies with between 100 and 499 employees are just two percent less likely than average to be likely streamers while those employed by companies with between 500 and 999 employees are eight percent more likely to be online game streamers. Employees of companies with 1,000 or more employees are the most likely culprits with the group on average being 17% more likely to be likely online game streamers. As such, it's no surprise that Fortune 500 companies are the most at risk of having offices full of online streamers during March Madness. Employees of Fortune 500 companies are fully 66% more likely to be online game streamers than those who Americans employed by a non-Fortune 500 company. Finally, the best insight into whether your office mates are streaming basketball games online instead of working is by looking at their paycheck (not that we encourage that of course). Specifically, as income rises, so does one's chance of being an online game streamer: Employed Americans who personally earn less than $25,000 annually are the least likely to be online game streamers, scoring 50% below average on this metric. Those who earn between $25,000 and $49,999 are only 15% less likely to be game streamers. If you know or suspect that your colleague earns upwards of $50,000 a year, it's a good idea to keep an eye on them for the rest of the month; workers with incomes between $50,000 and $74,999 are 33% more likely than average to be likely game streamers and those who earn between $75,000 and $99,999 are 75% more likely to be likely game streamers. Your colleagues earning $100,000 or more annually are the most likely to be streaming online, with those personally taking home between $100,000 and $149,000 being a whopping 164% more likely than the average employee to be streaming games online. And those earning $150,000 or more annually being fully 176% more likely to be online game streamers. Moreover, one-in-five adults who earn $150,000 a year or more fall into our likely online game streamers segment compared with just 5% of all U.S. adults. The first match-up to be played during the traditional workday tips off at 12:15 EDT on Thursday March 17th when West Virginia takes on the winner of the second round-one play-in game. Armed with this information, you should be able to catch-or join-your office's online game streamers in the act.