The IRI Media Center of Excellence team took its Cannes Lions discussions virtual this year to keep the learnings coming for advertisers, agencies, publishers and the rest of the advertising ecosystem. While we missed the quality facetime with clients and partners, along with the good wine and beaches of the French Riviera, we were happy to be able to share the eye-opening, thought-provoking industry discussions you have come to expect from IRI at this event. Below are some of the key insights from our eight virtual sessions.
Fireside Chat With IRI's New CEO, Kirk Perry
IRI's new CEO Kirk Perry offered candid conversation about the future of advertising and data. Sharing experiences from his decades of CPG experience and his most recent executive role at Google, Perry provided insights on how to pave the way for successful consumer engagement through media.
Key Insights: CPG companies should use their learnings gained on changing consumer behaviors during the pandemic to test, optimize and learn against changing consumer expectations. Strong purchase data, a good first-party data strategy and the right partnerships will be essential in the future of a cookie-less world. Brands that make clear choices in their media plans about where they will and won't play will be positioned for success – so will brands that invest in and test relevant new platforms. Companies must also figure out how to make money personalizing the e-commerce experience.
A New Twist on Privacy – Demystifying the Post-Cookie and IDFA World
IRI interviewed LiveRamp SafeHaven on their views of how advertisers can navigate new data privacy and compliance rules. The session explored the impact of these rules on sales lift and offered insights on how marketers and advertisers can succeed in this ever-changing ecosystem.
Key Insights: The time to transition away from cookies and risky identifiers is now. Advertisers will see their foundation become shaky if they are not prepared for these industry changes. But technology and industry initiatives are providing solutions to bridge the gap and create a more consent-based, addressable view of the consumer world. Organizations that double down on consent-based first-party data strategies, enriched with "first-party-like" data acquired with explicit consent, will be positioned to optimize the consumer experience and win big.
How Gen Z Is Defining the New Normal Post-Pandemic
This discussion, hosted by Shelley Zalis from The Female Quotient, discussed Generation Z and offered perspectives and research on their worldviews. It also highlighted how marketers need to tune in to these insights to connect with this generation post-pandemic.
Key Insights: Gen Z consumers appreciate authenticity, experiences and personalized marketing. They have inherent comfort with experimentation and learning. As true digital natives, they are mostly influenced through short-form video from the likes of platforms like TikTok, Snapchat and Instagram but also rely strongly on recommendations from friends and family. Gen Z is the most racially diverse and gender-fluid generation. As consumers, they appreciate non-binary products, sustainable packaging and purpose-driven brands.