Wednesday, January 27, 2021
  • Setup menu at Appearance » Menus and assign menu to Top Bar Navigation
Advertisement
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
No Result
View All Result
Home Digital Marketing

Without marketing strategy, the LUMAscape is one hand clapping

January 11, 2019
in Digital Marketing
Without marketing strategy, the LUMAscape is one hand clapping
586
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

Credit: MarTech Today

It’s difficult not to be awed by the LUMAscape, both in its growth rate and in the level of innovation that it represents. Consider this: in 2011, there were only 150 unique companies on the LUMAscape, in 2018 there are 7,000. And it’s not merely a matter of vendors throwing their hats into the ring to take advantage of a flush industry; these are enterprises on the cutting edge of Big Data, AI, machine-learning and programmatic technologies.

You might also like

Don’t miss the upcoming keynotes at MarTech

Your exclusive MarTech preview is here

How Rakuten Viki is promoting K-drama to a global audience

Click to enlarge

Clearly, this innovation has been a boon to marketers and publishers, and yet, to a large extent, it represents just one hand clapping, with the entire LUMAscape ecosystem focusing on marketing operations and execution. The people who are responsible for buying media have a great deal of technology and data at their disposal, but what about the marketing strategists, who are responsible for generating personas, campaign ideation and targeting? They have nothing like the level of tools enjoyed by the marketing orchestration team.

Marketing strategy is still created using old (in our field, it’s fair to consider them ancient) methodologies. Back in the 1950s, strategists relied on demographic data to build personas because it was both widely available and reliable. If women, aged 25 to 50, purchased this product from this brand, then other women with similar demographics are likely to exhibit the same behavior. The personas were beefed up with psycho-demographics, developed through consumer surveys.

And to be fair, these personas delivered good results, because there were few channels to reach consumers back then. If a family-friendly vacation brand wanted to reach every American family, it could reliably do so by purchasing a 30-second spot on Mutual of Omaha’s Wild Kingdom on Sunday evenings. Reach used to trump relevance.

The world looks nothing like that today. We now live in a world where there are infinite ways to reach a consumer, thanks to the explosion of digital and social, and the myriad ways for people to consume content. Yet the strategy is still dominantly based on demographics and psycho-demographics.

With both sides of marketing operating in vastly different worlds, a gap between strategy and execution is inevitable. When the media-buying team receives a marketing brief the first thing they need to do is interpret the marketing goals. With just segments based on generic demographic and behavioral data, they must translate the personas into actual segments they can target in the complex execution ecosystem. Not too long ago, I spoke with the head of marketing for a large brand. He told me his team received a 150-page report on their ideal “buyer personas” that didn’t match any syndicated audience segments, so they had to try to “translate” these personals into targetable segments based on their media buying platforms.

Is it any surprise that digital campaigns — designed to reach and engage consumers with ads that are groundbreaking in their creativity – fall short of expectations? The process is broken, and it is neither the strategy team’s nor the execution team’s fault. The problem is that the machine learning and artificial intelligence is being applied to marketing execution but doesn’t address the needs of the marketing strategist. Marketing strategists need the same level of audience segmentation and insights that are available to the marketing execution team.

Until the strategy side catches up, the inherent power of the execution ecosystem, represented by the LUMAscape, will be under-utilized. It will remain the equivalent of one hand clapping.


Opinions expressed in this article are those of the guest author and not necessarily MarTech Today. Staff authors are listed here.


About The Author

Tim Burke is CEO of Affinio, the marketing strategy platform that leverages the interest graph to understand today’s consumers. With over 12 years of experience in building companies and developing technology that solves some of the world’s hardest problems, Tim co-founded Affinio to mine the billions of relational network connections that exist within any given social audience to shed data-driven light on who each audience segment is and what they truly care most about. Tim, along with co-founder Stephen Hankinson, previously developed and successfully commercialized tether.com, the most commercially successful application of its kind, with over 300,000 paid users worldwide. From 2007-2013, Tim founded and led 26ones Inc. (formerly Quark Engineering and Development Inc.), an IP and product development engine. From 2000-2007, Tim held engineering R&D/design positions with Skillz Systems Inc., Innovation in Design Lab (Dalhousie University), Heidelberg, and Creare. Tim holds a Bachelor of Engineering (Mechanical) from TUNS and a Masters of Engineering (Mechanical) from Carleton University.

Credit: MarTech Today By Tim Burke

Previous Post

AWS re:Invent 2018 Postmortem: Surprise! Hybrid enters the agenda

Next Post

Hacker 'BestBuy' sentenced to prison for operating Mirai DDoS botnet

Related Posts

Don’t miss the upcoming keynotes at MarTech
Digital Marketing

Don’t miss the upcoming keynotes at MarTech

January 27, 2021
Your exclusive MarTech preview is here
Digital Marketing

Your exclusive MarTech preview is here

January 22, 2021
How Rakuten Viki is promoting K-drama to a global audience
Digital Marketing

How Rakuten Viki is promoting K-drama to a global audience

January 21, 2021
How to Build a Marketing System of Record
Digital Marketing

How to Build a Marketing System of Record

January 19, 2021
7 Essential Lessons Toward Marketing as a Business Driver
Digital Marketing

7 Essential Lessons Toward Marketing as a Business Driver

January 19, 2021
Next Post
Hacker ‘BestBuy’ sentenced to prison for operating Mirai DDoS botnet

Hacker 'BestBuy' sentenced to prison for operating Mirai DDoS botnet

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

January 6, 2019
Microsoft, Google Use Artificial Intelligence to Fight Hackers

Microsoft, Google Use Artificial Intelligence to Fight Hackers

January 6, 2019

Categories

  • Artificial Intelligence
  • Big Data
  • Blockchain
  • Crypto News
  • Data Science
  • Digital Marketing
  • Internet Privacy
  • Internet Security
  • Learn to Code
  • Machine Learning
  • Marketing Technology
  • Neural Networks
  • Technology Companies

Don't miss it

Predictive policing is just racist 21st century cyberphrenology
Internet Security

Predictive policing is just racist 21st century cyberphrenology

January 27, 2021
Apple Warns of 3 iOS Zero-Day Security Vulnerabilities Exploited in the Wild
Internet Privacy

Apple Warns of 3 iOS Zero-Day Security Vulnerabilities Exploited in the Wild

January 27, 2021
Airport Runway Foreign Object Debris (FOD) Detection System to bolster with Advancement in Sensor Technology!
Data Science

Airport Runway Foreign Object Debris (FOD) Detection System to bolster with Advancement in Sensor Technology!

January 27, 2021
New machine learning tool predicts schizophrenia
Machine Learning

New machine learning tool predicts schizophrenia

January 27, 2021
10-years-old Sudo bug lets Linux users gain root-level access
Internet Security

10-years-old Sudo bug lets Linux users gain root-level access

January 27, 2021
In the Wake of the SolarWinds Hack, Here’s How Businesses Should Respond
Internet Privacy

In the Wake of the SolarWinds Hack, Here’s How Businesses Should Respond

January 27, 2021
NikolaNews

NikolaNews.com is an online News Portal which aims to share news about blockchain, AI, Big Data, and Data Privacy and more!

What’s New Here?

  • Predictive policing is just racist 21st century cyberphrenology January 27, 2021
  • Apple Warns of 3 iOS Zero-Day Security Vulnerabilities Exploited in the Wild January 27, 2021
  • Airport Runway Foreign Object Debris (FOD) Detection System to bolster with Advancement in Sensor Technology! January 27, 2021
  • New machine learning tool predicts schizophrenia January 27, 2021

Subscribe to get more!

© 2019 NikolaNews.com - Global Tech Updates

No Result
View All Result
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News

© 2019 NikolaNews.com - Global Tech Updates