As technology enables consumer-collected data at scale, often referred to as the quantified self, first-party data has become a misnomer. First-party data needs to be defined from the perspective of the true first party -- the consumer -- who is collecting the data, not the publisher or the marketer.
Media is changing, from the way we consume it to the types of parties creating it. As more CPGs invest in building out "owned" media to make the most of their CRM data, the competition for attention is growing. The result is a lot of branded content clutter.
Lung Huang, Vice President of Digital Advertising, Global Partnerships, will be participating in a panel discussion looking at how to reach English-language-preferred Hispanic audiences across multiple screens.
Today, the convergence of Big Data and addressable media is creating new, thrilling implications for the future of direct marketing. The two have a symbiotic relationship with each other – more data improves our ability to increase relevancy in consumer touchpoints, which in turn yields better response (clicks/comments/purchases) and hence generates more data.
New Product Development (NPD) is a key competitive strategy for consumer goods companies, but traditional means of identifying revolutionary ideas are falling short. Billions of dollars are invested annually throughout the NPD life cycle with nearly 20,000 new consumer goods products launching each month globally, according to Mintel. With the unprecedented amount of data available to consumer packaged goods manufacturers today, why do we continue to accept a 90% failure rate for an expensive and vital competitive asset like new product innovation?