Post by account_disabled on Jan 8, 2024 19:41:05 GMT -8
Agility, data and control by marketers. One of the leading figures in the advertising sector, Sir Martin Sorrell, reflects on these three keys, at a time that is not easy for the industry. The pandemic has been a hard blow to the advertising market and, in the midst of the crisis, it becomes essential to analyze, reflect and establish the levers that will help companies on the path to recovery. Below, we collect the vision that the founder of S4 Capital provides to The Drum through 3 key insights: 1. Agility is key for companies, before and after the pandemic Sir Martin Sorrell recalls that COVID-19 has accelerated the need for digital transformation and digital disruption. "If you ask any CEO, CMO, CFO, CIO, CTO or sales director what frustrates them about their organization - particularly analog organizations , not so much technology organizations to be fair - it's the lack of will and lack of response," he says. «In advertising holding companies, that's what they say all the time. They are aircraft carriers. They are not motor torpedo boats. They just can't get out of their own way. When you have an analog core, which most companies do, and you're trying to shift to digital, the analog core has always held you back. One of the interesting things about COVID-19 is that it eliminated resistance.
We see that many agents of change are gaining ground within companies and receiving more oxygen,” says Sorrell. For the founder of S4 Capital, the "conglomerate model" has become obsolete, ensuring that Email Data in the digital world, "what is needed is brains, not brawn." In this context, agility is without a doubt the “key corporate attribute.” 2. Data, the new oil At this point, Sir Martin Sorrell reminds us that first-party data is “absolutely critical.” Consumers need to fully understand what their data is used for when they register with a site, something we have so far "not been able to explain." Part of the problem, according to Sorrell, “is that consumers don't know what they are signing up for. Therefore, they must be made fully aware and, if they wish, they should be given the option to sell [their data]," he explains. Another challenge is managing this data at the client level. “Unfortunately, many of these [database] companies have grown organically. They have used different systems, so the data does not communicate with each other.
What we continually hear from consumer goods, automotive, financial services, across the board, is their inability to leverage the data they have access to because of different verticals, or the systems are different, or they've acquired companies, which makes them makes it even more difficult to integrate," he details. First party data enables businesses to drive digital advertising content creation at scale and personalization at scale. «Then it is pumped algorithmically or programmatically or through digital means. Then we get the results. And in real time we, if necessary, to improve ROI, change creativity. Then we discard it again, get the data and change it so that it is a continuous cycle like an electoral campaign without an election date, "he adds. 3. Marketers must take back control According to Sir Martin Sorrell, marketers have given up control and very few are CEOs of companies. For the professional, there are "probably" too many CFOs who are CEOs of companies, a trend that began in 2008 after the crisis. “Until 2018 there has been relentless pressure on costs,” he notes. «Agencies are under great pressure. Customers pressured them after the Great Recession.
We see that many agents of change are gaining ground within companies and receiving more oxygen,” says Sorrell. For the founder of S4 Capital, the "conglomerate model" has become obsolete, ensuring that Email Data in the digital world, "what is needed is brains, not brawn." In this context, agility is without a doubt the “key corporate attribute.” 2. Data, the new oil At this point, Sir Martin Sorrell reminds us that first-party data is “absolutely critical.” Consumers need to fully understand what their data is used for when they register with a site, something we have so far "not been able to explain." Part of the problem, according to Sorrell, “is that consumers don't know what they are signing up for. Therefore, they must be made fully aware and, if they wish, they should be given the option to sell [their data]," he explains. Another challenge is managing this data at the client level. “Unfortunately, many of these [database] companies have grown organically. They have used different systems, so the data does not communicate with each other.
What we continually hear from consumer goods, automotive, financial services, across the board, is their inability to leverage the data they have access to because of different verticals, or the systems are different, or they've acquired companies, which makes them makes it even more difficult to integrate," he details. First party data enables businesses to drive digital advertising content creation at scale and personalization at scale. «Then it is pumped algorithmically or programmatically or through digital means. Then we get the results. And in real time we, if necessary, to improve ROI, change creativity. Then we discard it again, get the data and change it so that it is a continuous cycle like an electoral campaign without an election date, "he adds. 3. Marketers must take back control According to Sir Martin Sorrell, marketers have given up control and very few are CEOs of companies. For the professional, there are "probably" too many CFOs who are CEOs of companies, a trend that began in 2008 after the crisis. “Until 2018 there has been relentless pressure on costs,” he notes. «Agencies are under great pressure. Customers pressured them after the Great Recession.