Who is Hagedorn, and of what is he afraid?
“We are not reaching young audiences effectively,” says this CEO of Hearts & Science, the marketing agency that describes its work for “the world’s biggest brands” thus:
Our clients shift from brands that push content out to brands that pull people in. We’re creating new relationships between brands and people like never before.
The crisis to which Hagedorn refers is the fact that:
a growing audience of people who aren’t tracked — and therefore can’t be targeted or measured — with traditional tools and platforms. They consume media on mobile devices and OTT. They’re “cord cutters” and “cord nevers.” And they represent tremendous buying power for brands. The stakes are high—47% of Millennials and Gen X appear “unreachable” within standard planning tools, and 66% of their media consumption isn’t tracked, either.
Hagedorn clarifies in today’s Wall Street Journal:
And if it can’t be measured, it can’t be properly targeted or planned against as part of a cohesive, cross-platform campaign.
“Planned against.” Write that down, TCT readers.
Meanwhile, not to worry, overclass. Answers, as always, are being perfected by heroes like Hagedorn. Thanks to the emerging standard practice of “integrating code to measure in-app content and ad consumption…on literally every [video-watching] platform, device and client app,” the crude surveillance methods of the past are on their way out.
The days of yore wherein the [Nielsen] panel served as the proxy for an audience — setting behavior, reach, and cost estimates — fall out of the picture. Google and Facebook , along with telecom “pipes” like AT&T and Verizon , and retailers like Amazon, have massive install bases that are logged in across screens, making identity-based marketing not only feasible, but the most accurate solution to capture these new consumer behaviors.
We’ll no longer need the panel as proxy for an audience, as we’ll have a deterministic view of the people in the audience. Identity-based marketing becomes the solution that holds consumer identity as the currency against which we measure, plan and buy media across devices and platforms.
As many of these platforms own the consumer experience from end to end – not just identifying their audience at a granular level, but also creating the content being consumed – it’s only a matter of time until these identity-based currencies and identity-based experiences become the marketer’s art. [WSJ, 9/22/2017]