Change is in the air. It’s not just the drop in temperature or the colors of the leaves here in New England. Brands and agencies are taking a good, hard look at what they are doing currently and what they need to do to grow and prepare their businesses for what’s happening around them. Whether it’s new ways to buy and measure media or dealing with laws like CCPA, here are three takeaways from RampUp on the Road Boston that capture this mindset.
#1 Know who you are and who you want to be.
Be honest. At a fictional holiday party, would your brand be the cool millennial or the uncomfortable older white guy in a suit? Yesterday Gayle Meyers from LUMA Partners advocated for knowing your unique value by first admitting who are and figuring out who you want to be.
For the last 150 years, John Hancock has been a trusted financial services firm. As Chris Potts, their Director of Marketing Analytics explained, “John Hancock’s the guy you ask to hold your purse when you go to the ladies’ room.” To continue to drive profitability and modernize the brand, his team is applying data-driven marketing, embracing automation and machine learning to evolve not only how they work, but also to ensure that they still appeal to customers who are looking for stability, and leveraging the deep trust consumers have in the brand to become the vision of the company they want to be.
#2 The TV you used to know doesn’t exist anymore.
TV is a mess. In addition to traditional linear TV, you now have VOC, OTT, CTV, and digital. New streaming services are launching left and right, each with a different model. As LiveRamp TV’s John Hoctor and Brendan Marrese from MullenLowe Mediahub explained, TV measurement is quickly changing too—for the better.
TV measurement is now able to move at the speed of viewers. Advertisers can get hypergranular, getting answers to questions like, “did they visit my website?” and “did they go into a physical store?” With better math, brands and agencies are now empowered to use comprehensive cross-screen TV data sets and are starting to measure the impact of TV on business outcomes at scale across screens and across formats. By unifying identities from offline to online and back again, they can personalize experiences and make smarter investments that boost the bottom line.
#3 Who’s ready for CCPA? Very few.
Fasten your seatbelts, it’s going to be a bumpy 2020. According to eMarketer, only 8% of U.S. businesses say they are prepared for CCPA. The majority reported still being in the preparation process, however only a third expected to be able to meet the January 1, 2020, deadline.
Speaker Tim Geenen from Faktor, a LiveRamp company, effectively pointed out that even those of us in the audience should take a harder look at how CCPA will affect the customer experience. Many marketers aren’t even aware of which tracking tags are sitting on their webpages. If a consumer says “do not use my personal data,” in many different cases, companies will have to change how their website and their apps are organized. eMarketer goes onto say that “among the 11% of businesses that said they were not yet compliant and don’t plan to be, slightly more than a third said it’s too expensive to attain compliance, and another third planned to take the ‘wait and see’ approach.’” Exciting times to come.
Paul Revere was the leader of a spy ring.
According to History.com, Paul Revere founded the first patriot intelligence network on record, a Boston-based group known as the “mechanics.” Beginning in 1774, the mechanics (also referred to as the Liberty Boys), spied on British soldiers and met regularly in the legendary Green Dragon Tavern, where the aforementioned John Hancock was also a frequent visitor.
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