Global online sales are expected to grow around 16% in 2023, according to Visa, moving $171 billion in Brazil alone, while in-store transactions are estimated to decline by 10% globally. Faced with this constant change in purchasing behavior, the marketing challenge for brands is increasing to connect with audiences and become highly competitive online world.
As a result, new technological solutions and internal practices are adopted to adapt to reality. Leonardo Naresi, Chief Innovation Officer and Co-CEO of DP6, a technology and intelligence consultancy for marketing analytics and data science, points out five key topics to stay on the radar in 2023. Check it out:
In 2023, the practice of retail media, the spaces that major retailers reserve on their websites for store owners and other brands to advertise, will gain more traction in Brazil. While in the United States the budget for retail media reaches 14% and in China it is already 40%, in Brazil it is still estimated at 3%. The outlook is that the practice will account for around a quarter of company ad spend through 2026, eMarketer and Google estimate.
“Retail media has become a great opportunity for brands, through first-hand data collected by retailers, to better connect with their customers from brand building to the moment of purchase,” Naresi explains. .
Clean Data Room
Even with the new delay in the end of third-party cookies, now scheduled for 2024, the adoption of privacy-friendly marketing solutions should continue to grow in 2023. Therefore, more investment by companies in clean data, state-of-the-art technology State-of-the-art technology that enables advanced analytics and data collaboration between advertisers and vehicles securely to protect consumers’ personal data.
“The data clean room is a concept already used by some media partners, but growing markets and retail media strategies will increase the need for these solutions to develop strategies that integrate retail buyer data with customer data from each brand.” This enrichment is a great opportunity to advance in the relationship with clients”, says the specialist.
Integrated Marketing Measurement
Regulatory pressure and increasing restrictions on cookies will lead marketing leaders to prioritize broader, more robust approaches to measuring and optimizing results, such as MMM (marketing mix model), MTA (multi-touch attribution), and incremental lift analysis. , in addition to important advances. in brand measurement and improve creativity, according to Leonardo Naresi.
“Understanding the contribution of each investment to communication, brand and performance is no longer an isolated game. Online and offline, brand and performance play together in the journey and require methods that take into account the whole and allow cause and effect inferences to be made. support better decisions”, he adds.
Integration and People at the Center
If collecting information responsibly is an irreversible truth, integrating it into a single platform, especially with the ever-increasing volume of information, will be essential to obtain a unified view of the user/consumer to understand behaviors, put yourself at the center. and increase conversions.
Therefore, the adoption of certain tools and technology continues to grow in the daily lives of marketers to support more advanced data-driven marketing use cases. Among them, CDPs (Customer Data Platforms) stand out, which are technologies specialized in integrating data from different channels and, fundamentally, unifying customer profiles to allow intelligent activations.
“Customer focus requires acting on people’s journeys with personalization and relevance. To do this, it is necessary to integrate the different areas in companies and the data that each one collects for a 360 vision. In 2023, we expect a movement to unite the actions of regions and platforms to favor customer-focused strategies ”, confirms Narici.
Skills developed in relation to data-driven technology and operations have been steadily evolving over the past few decades as a trend in 2023. “Technology solutions will only be effective if companies know how to collaborate and develop data-driven processes. It takes synergy of adding to the therapy and using the client’s information until it is truly useful”, continues Naresi.