The Adweek NexTech conference in NYC brought together industry experts to discuss the latest media and marketing tech trends shaping the months ahead. Here are four takeaways to think about as we head into 2023.
Testing is essential
One phrase we heard in almost every session, “test and learn.” When marketing budgets are squeezed, testing tends to be put on the back burner. But as Delphine Hernoux, chief data & analytics officer, North America, at Wavemaker, said, “Right now, we are at a moment in time where we see so many changes that we cannot put the test-and-learn philosophy as a last priority.”
Whether discussing the move away from cookies, transitioning from broadcast to streaming, or expanding into newer platforms like TikTok, panelists consistently recommended testing. Craig Ziegler, SVP, Product at Integral Ad Science, said, “Advertisers must be comfortable with a test-and-learn approach. What works for one segment might not work for others.”
This doesn’t mean you need to carve out room in your budget for an extensive study. As Jonathan Lerner of Bliss Point Media said, “There’s always room to garner new learnings. It doesn’t have to be a big spend.”
But Brittany Rubinsky, VP, Digital Investment at Carat, cautioned that, “Agencies have to be smart about how they’re communicating testing. There’s testing fatigue on the client side
The role of AI is expanding
Everyone at NexTech seemed to agree that AI will play an increasingly more important role in marketing for 2023 and beyond. But there was a range of opinions about how far it would go.
Tim Vanderhook, CEO and Chairman of Viant Technology, sees AI taking over for planning, buying, and optimizing media. “When you think of how many choices there are, you can’t make the right choices as a human,” he said. He also sees machines taking the lead in creative, pointing to how AI-based services like Stable Diffusion can generate images from text prompts.
Jia Zhou, vice president, Programmatic GroupM, sees AI as a technology that will make the lives of planners and creatives easier but not replace them. “There are a lot of things that can’t be done by AI. Where is the thought leadership that captures every opportunity for clients,” she said. Jia considers AI as a way to free up her team’s schedules from repetitive tasks to focus on the big picture.
One area where AI is likely to grow is in contextual targeting. Its ability to comprehend human speech, recognize visuals, and understand what’s being communicated makes it extremely helpful in aligning brands with the right content. According to Meghan McGuirk, SVP, director Digital Strategy and Investment at Havas Media Group, AI will also help contextual “to live outside of editorial” and enter the podcast space through speech recognition.
AI could also be an important component in sustainability efforts. Brian O’Kelley, CEO and co- founder of Scope3, pointed out that the long and redundant programmatic supply chain creates a lot of extra server traffic and consumes excessive energy. Using AI to streamline the process and reduce wasted ad serving could help make the industry greener
Don’t mourn the loss of cookies
A couple of years ago, the eventual end of cookies was met with panic across the industry. But now that we’ve had time to explore some different solutions, the outlook doesn’t seem so grim. Joe Anthony, founder of Hero Collective, believes, “The depreciation of cookies is leading to innovation.”
Many marketers at NexTech were citing double-digit boosts in ROAS when moving to solutions like contextual, first-party data, and retail media networks. As Scott Perry, EVP of Digital Marketing at Jerome’s Furniture, said, “Our defensive strategy turned into an offensive powerhouse.”
The reason seems to be relevance. As Binda Patel, director, head of Client Success at Connatix, said, “It’s not just about finding the right audience. It’s about meeting them in the right mindset (For example), you don’t want to be selling makeup to people watching sad news.”
Of course, relevance can’t happen without the right creative. Breaking down the wall between media and creative teams is a must in the post-cookies world
Stop looking for a “silver bullet”
From identity solutions to media platforms, the word of the day is “diversify.” As Brittany Rubinsky of Carat pointed out, “There is not one magic wand tool that’s going to move advertisers in the right direction.” Times are changing and becoming more complex. What might not have been working well up until now might be as effective in 2023.
When asked what’s most important for marketers in 2023, Binda Patel of Connatix said, “Having the ability to try new things – being open to new ideas.” She believes that diversified media spend that doesn’t rely on a limited number of channels is key. Binda pointed to the success of DTC brands who have moved from paid social on to OLV. She also noted that many brands have overlooked shoppable, even though it has the power to build stronger relationships and trust with the consumer.
Of course, testing will be a vital part of exploring new options (See the first part of this article)
Daniel Quentin Zuber, Associate Creative Director, has worked on some of the largest global brands while also being active in the electronic music scene as a DJ, performer, and producer. He was part of a team developing one of the first immersive VR music experiences and has also released a collection of NFTs. Under the handle @therealquentinZ, he’s an influencer in trance music, cyberpunk, and vaporwave culture on Instagram and TikTok.
