Media marketing is evolving every day. Here are the big hurdles the industry must overcome to adapt to this ever-changing environment.
From entertainment marketers to multi-media companies, the media market is struggling to find its footing on mobile that goes beyond a simple smartphone and tablet presence. Consumers are mobile, and many of the devices they carry around in their pockets have become the first screen. Creative marketers have been (and are still) crafting mobile strategies to place their brands front in center on these devices. However, there is still much growth and potential to come. With consumers clamoring for media content when they're on the go, how can the media market maintain a solid footing? Apps are just the beginning. Soon we'll see integrated media in consumer devices and media content pushed out on every device that could possibly be equipped with a Wi-Fi signal.
Already, tech giants like Microsoft, Facebook, and Google are making waves in the industry for their efforts to get rid of cookie tracking and replace it with a single anonymous identifier for each individual and device. It's news like this that makes it clear: The old way of ad targeting is quickly losing steam, and it might be holding us back from greater potential. A better, more accurate system may be just around the corner, but it's still untested and quite risky for a $120 billion online industry that relies heavily on this tried and true way of collecting consumer data. How will relevant media be targeted in a world without cookies? This is just one of the questions the industry is asking itself as we enter this paradigm shift.
Any media company that relies on subscribers, registrations, or any kind of database of user information is entering a world where this voluntary customer data is more and more vital to drawing unique targeting insights. Opt-in is always preferable to third-party tracking, and media companies have a unique opportunity to leverage their subscriber or sign-up data to gain crucial conclusions as to their users' viewing, listening, or gaming habits. Tracking your own database of users is a great way to begin analyzing patterns and trends occurring on your own media platform and then leveraging that data into sales packages for relevant brands. Perhaps no one knows the new challenges that are occurring in the media space like Pandora CRO John Trimble. In this interview, iMedia's Bethany Simpson speaks to him at CES 2014 about the future of media marketing and how the industry will change this year.
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