The Four R's of Personalization
Recognize, Remember, Recommend, Relevance.
These are “The 4 R’s” of personalization. Each element is important in fixing the current issue with ads. Marketing, ads, and technology were hot topics throughout Ad Age’s recent IQ Conference. The conference consisted of three keynote speakers who presented insights on the current state of the industry.
Baker Lambert, Global Data Director at TBWA, began the first presentation with a tongue-in-cheek segment called “How Not To Suck at Data.” He emphasized the importance of timing in the current marketing landscape. Collecting large amounts of data on consumers isn’t the key to success. Using these resources effectively to reach a specific market creates a much more sustainable model.
The second presenter, Jeriad Zoghby, is a global marketing executive at Accenture Interactive. Zoghby further supported the notion that hoarding customer data doesn’t make an effective ad campaign. The presentation cited that 40% of online shoppers have left a business’ website prematurely due to an overwhelming amount of options, and 50% of consumers say they’ve never purchased an item shown to them through a recommendation engine.
Instead of causing more confusion, businesses should be tailoring their marketing to improve the consumer’s experience. Zoghby pitched many ideas that could shake up how companies participate in e-commerce. He stated, “a good data management platform will recognize a customer so she doesn’t have to remind a marketer who she is.”
Another important takeaway from the conference reminds marketers “people produce insights, not machines.” A majority of ad tech companies gather unnecessary amounts of data without even knowing what they’re looking for or whom they’re trying to reach.