The media industry supply chain has evolved unevenly, with the strategy, execution and measurement elements of the industry changing and growing in ways that are somewhat out of sync. This is principally due to the introduction of new technologies that impact one part of the supply chain but not others. The most dramatic technology disruption that has roiled the media supply chain is the recent rapid ascension of digital media through the proliferation of devices that allow consumers to engage anywhere and anytime.
But personalized targeting—ensuring that the right message reaches the right consumer at the right time and in the right place—is a discipline that has lagged throughout the digital explosion. Digital media has proven to be a massive source of new, cheap inventory, yet the advertising industry is holding on to the traditional approach of reaching as many consumers as possible, as cheaply as possible. This now digitally enhanced “spray and pray” approach is wildly ineffective in today’s marketplace, where personalization has become a consumer-issued edict. Ineffective targeting is negatively impacting the consumer experience, potentially causing significant harm to the brand, and reducing return on advertising spend (ROAS).
Click here to read IRI’s Point of View, “Personalized Targeting: Increase ROAS and Enhance Lift with Purchase-Based Targeting,” to learn what marketers need to do to increase the effectiveness and efficiency of their targeting capabilities and optimize the potential of digital media.
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