Marketing Evolution’s Founder and CEO, Rex Briggs, hosted the first discussion for the Real-Time Think Tank, which was focused on the trends and changes in the marketing landscape that have created a window of opportunity; marketers are increasingly expected to recognize and leverage this window of opportunity.
The changing landscape that Rex spoke to included a shift in the expectations of marketing. Marketing accountability and measurement have become the norm, and marketers are increasingly pressured to increase performance and differentiate themselves. An approach to solve this challenge is RT-CMO (Real Time Creative and Media Optimization) – the ability to make more real-time and more targeted media decisions.
Rex identified 3 trends in the market place that have enabled the ability to move towards RT-CMO:
- Addressability – the increasing ability to target specific consumers and groups of consumers
- Automation – the increasing ability to translate and analyze at a faster pace than previously possible
- Big Data– the availability of smarter, cheaper, and more granular data
The biggest wild card in marketing performance is the creative message. By understanding how to deliver the right message to the right audience at the right time, marketers can obtain leverage that they have not had access to previously.
In summary, Rex identified four key tools that will be necessary in marketing moving forward and are the foundation of the work that Marketing Evolution puts into each of our clients:
- Media Plan Optimization and Transparency – visibility into the impacts of marketing and the ability to forecast performance via the right software tools
- In-Campaign Optimization – obtaining media performance results faster and the having the right processes in place to enable agility in order to react to these insights faster
- Strategic Marketing and Media Owner Partnerships – relationships to better understand the supply chain process and increase efficiency to enable more flexibility in marketing allocation and changes in allocation
- Data Driven Marketing at the Speed of Life – increasing automation where possible to inform continuous improvement and reduce analytical cycle times
Click here to watch Rex Briggs' speech.