Another year dawns, and, as always, a New Year means new opportunity. Without doubt we’re entering a tricky 12 months economically, there has never been a greater awareness of the damage we’re causing our planet, and we have some interesting technological challenges and emerging options as marketers to get our grey cells whirring.
I believe we will start to see the “new marketing equation” being embraced next year. It will no longer the traditional balance of which channels should I choose and what return do I get from them which drives marketing decisioning, but a new factor as well – what is the cost to Earth?
We can measure the relative impact of, for example, a poster versus an email in carbon impact. So, we must use such channel data to make better decisions, and by that I mean better for society.
Every major brand has a published sustainability agenda and consumers really do care that brands live by these. So sustainable creativity and channel choice is going to become a must-have data set for companies.
This will become the new normal very swiftly.
Much has been made of the cookieless future and the need to gather fist-party data to circumnavigate the inability to track individuals online in certain areas.
Sadly, the efforts of many companies to truly engage their customers to gather this data is still poor at best. Companies continue to treat the reciprocal relationship as a fairly one-sided affair with limited mutual benefit and lack of openness about the use the data will be put to.
This worries me greatly. We are in a situation where momentum is needed, yet we have a base of people who are weary and cynical of the motives for data permission being granted.
The frosty economic headwinds mean that consumers will not spend as freely next year. Purchases will be carefully evaluated or postponed altogether. Marketing has to work harder than ever. Therefore, it must be more engaging, relevant and of value to the customer.
That means good data (I may have said this before!).
We must really grasp the nettle on this one. More reasons to say yes, more mutuality and much more openness. There is nothing to hide, and if it is done well, many customers will be happy to engage with data sharing.
Meta will be better they say. I do not see next year as the breakthrough for mainstream metaverse marketing usage, but for sure we will see more and more dabbling – in certain sectors and demographics, potentially a more entertaining approach to engaging and collaborating with customers. It may even answer my previous point on better mutuality for data sharing.
And a last word on the future for NFTs ? Hmmm. Really don’t know. Come back to me next year as the Emperor may still be wearing those particular clothes…. And I still won’t have bought one.
Steve Mattey is managing director of HH Global Interactive
