Shopper marketing change is rampant! The good news: disruption is creating opportunities – not just challenges – and the industry is responding with new approaches to increase market share and revenue. Learn how leading brands and other experts are engaging consumers and building growth in this 2019 ARF SHOPPERxSCIENCE event summary.
As the consumer journey becomes increasingly complex, many marketers are turning to artificial intelligence to decipher it. But how does it actually help them be more effective at understanding and reaching consumers at different stages? A trio of academics explained how AI is transforming advertising.
Member Only AccessThe article suggests that in the traditional funnel metaphor, consumers start with a set of potential brands and methodically reduce that number to make a purchase.
But today, they say, the funnel concept fails to capture all the touch points and key buying factors resulting from the explosion of product choices and digital channels, coupled with an increasingly discerning, well-informed consumer.
Their research showed that the proliferation of media and products requires marketers to find new ways to get their brands included in the initial-consideration set.
McKinsey also found says that there is a shift away from one-way communication—from marketers to consumers—toward a two-way conversation. This means marketers need a more systematic way to satisfy customer demands and manage word-of-mouth.
Access full article from McKinsey
Conference Paper – “The Purchase Journey: How do Radio and OOH Stack Up?” – iHeartRadio/SMG
In today’s time-pressed world, where consumers decide what and when to buy in decreasing time units, marketers are challenged to reach their target audiences at the most influential moment.
SMG and iHeart Media collaborated on research to better understand which media types and vehicles can impact consumer decision-making by examining the data signals that consumers share during their path to purchase.
Through an analysis of the SMG proprietary global consumer panel, PACE, we examined the relationship between media exposure and category consideration and purchase, giving insight into the role of different media channels during that journey, and how it varies by category and by target audience.
From MediaPost– “The Key to Audience-Based Metrics: Testing, Testing and More Testing”
“Science needs validation,” said George Ivie, CEO of the Media Rating Council. The event was the Coalition for Innovative Media Measurement (CIMM) Cross-Platform Media Measurement and Data Summit last week.
That perspective seems to align with the Interactive Advertising Bureau (IAB). In a primer the association released on improving ad viewability, they outlined strategies for working with third-party vendors or using an internal measurement system as a “source of truth” that can be used as a baseline and in testing.