We’re back from RampUp Minneapolis and, now that our digits have thawed, we have some fresh insights to share!
Insight 1: Facebook and Google represent 90% of the growth in digital marketing
This means that for every “new” dollar that enters the system, Facebook and Amazon effectively receive 90 cents, according to Conor McKenna, VP of banking at LUMA Partners and our opening keynote speaker. This 90/10 split is bad for marketers since they are effectively enabling these companies to dictate their own terms by continuing to increase spend, despite the fact that they don’t provide the metrics marketers want. Now is the time for advertisers to demand the metrics they need from the walled gardens so they can make better decisions and deliver personalized experiences to consumers.
And with Amazon quickly becoming a third major platform for marketers, it’s important for marketers to remember who they are sharing their data with and continue to leverage their wallets to demand greater campaign visibility and reporting.
Insight 2: Think about the content’s context
“It’s not about the environment. It’s about the context,” said Erin Gulden, VP of content marketing at US Bank, on the importance of creating the right moment for audiences to consume content. Marketers can get caught up in wanting to create microsites for every audience, which leads to an over-abundance of destinations to manage and content calendars to populate.
For anyone who has ever visited an old blog that has not been updated since 2013—or been charged with resurrecting said blog—you know how painful it is to see a well-intentioned content hub wither. The key is to meet audiences where they are, and create the content and its distribution with a target persona in mind. That way, people are more likely to remember what they read and heed the CTA.
Insight 3: TV is not just an upper funnel channel
For decades, TV advertising has been seen as an entry point for companies to connect with potential consumers, not the “deal closer.” In our closing session, a fireside chat with Justin Rosen, executive director of data insights at Comcast, and Jessica Hindlian, head of advanced TV/video at LiveRamp, we learned that this is no longer true.
For one financial services brand, Comcast used Kantar Milward Brown to measure brand awareness as a result of the commercial they ran, and LiveRamp to understand whether the brand’s TV ad actually drove people to open accounts. The brand saw excellent results at the top of the funnel as well as at the bottom, showing that TV has evolved to the point where it is becoming just as measurable and accountable as digital for ad spend.
Bonus Insight: Visit Hmongtown Marketplace in St. Paul!
As a caveat, it’s best to go to Hmongtown Marketplace for lunch if you wish to partake in delicious Hmong goodies like chicken wings deboned and stuffed with vegetables and noodles, then deep-fried to finger-licking goodness. Our team made it there 30 minutes before closing, so nearly all of the food stalls were closed and vendors were cleaning up. Thankfully, there were four wings left at one counter—one each for me; Allyson, CEO of RampUp; Stephan, a LiveRamp sales development representative; and James from Cox Automotive. They were the perfect appetizer before we headed to On’s Thai Kitchen for a full meal.
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