We’re back at sea level after spending a few days in the Mile High City. Here’s a snapshot of what RampUp on the Road Denver attendees learned:
Insight 1: We’re moving out of the era of targeting and into the era of personalization.
This was mentioned at the start of our event during opening remarks by Jeff Smith, LiveRamp’s General Manager of Brands and Agencies. Especially given current and continuing consumer privacy concerns, this mind shift is more necessary than ever.
Insight 2: The data marketing economy in the U.S. alone is $19 billion.
Jonathan Margulies, Managing Director of The Winterberry Group, shared this figure during his opening keynote, Know Your Audience, Know Your Opportunity: The New Role of Marketing in a Customer-Centric World.
Here’s the breakdown between third-party data and audience data activation solutions:
This is pretty incredible given that the U.S. economy is growing at about a 2-4% rate. But, going back to our first insight, remember that data plus technology doesn’t equal common sense. You know what your audiences want and you’re responsible for ensuring that your data and martech strategies are in line with what they’d find appropriate, relevant, and meaningful.
Insight 3: “We can have all the tech in the world, and the right data in the right system, but if you don’t have the right people and processes, you’re going to get stuck.”
We’ve heard time and again that martech investments “fail” or new initiatives go nowhere because they weren’t measured properly, the person who originally bought the technology left, or a variety of other common reasons. These things happen. The best way to guard against them is to prepare for these scenarios, and one way to do so is creating a data operations team as Scott Purdy, Consumer Data Operations Manager at The Clorox Company, did. “I’m the sausage maker at the end of the day,” he joked.
Every company needs a sausage maker who understands the intricacies of your marketing, data, and technology strategies. As companies are held accountable every day for how they reach their audiences in pursuit of business goals, this role is only going to become more necessary.
Bonus insight: art is all around.
Venture down practically any street in Denver and you’re bound to bump into a sculpture, mural, or other work of art. Denver has invested more than $40 million in public art over the last 30 years, and there are more than 400 works of art for visitors and locals to admire. Check out the Denver Public Art website to discover what’s near you.
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