MARKETER INTERVIEW: Coty, Latam Airlines, JCPenney Discuss the Future of Marketing
What: We talked to brilliant members of Portada's Council System to find out where they think the industry of marketing is heading in the immediate future.
Why it matters: In view of the accelerated pace at which the industry is evolving, companies need to get ready for what is coming in marketing.
The Age of Mobility
It is undeniable that we are living in an era of unprecedented change. Consumers have fully moved to digital and social media, and new technologies boost this transition. More personalized and targeted ad formats help create deeper engagement between brands and consumers, and data is the main ingredient that allows companies to understand new opportunities.
As a new study on the State of the Media Industry by Ooyala states, "[Audiences] are now used to finding video content wherever and whenever they are looking for it, so mobile isn't a novelty anymore— it's the expectation." Now, companies need to make sure to keep up with the consumer, and not the other way around. The Ooyala study found that mobile video and social video consumption are rising steadily; brands and media companies need to devote more effort to targeting consumers on those media. "It’s about getting better targeting for the right consumer at the right time in their lives, that’s a big part of it," says Rafael Lopez-de-Azua, Head of Media and Digital - Latam, Coty. "There’s always question marks specifically about how good is the data and the accuracy of that data, but there are really good solutions for the U.S. Hispanic market."
Data, an Unavoidable Beacon
Recently, companies have begun to accept that the incorporation of new technologies and data-specialized teams is inescapable. Data-driven technologies like AI, Blockchain, and connected home and voice technologies are changing forever the way consumers relate to media and products, to the point that new realities are merging with ours.
"I guess not only the marketing but the whole world is going towards data, data, data," comments Pablo Chiozza, SVP USA, Canada & Caribbean at Latam Airlines. "Nowadays no one runs a marketing campaign, no one launches a product if it’s not supported by hard data, so I guess in the present and the future, all the actions we’re taking are based on data, data, data, so it’s all about how you prepare, not only to gather data but then to read data and to take the most information out of it."
Challenges of the Media Industry in the Near Future
"One of the biggest challenges we face nowadays is the fact that the old media hasn’t been brought up to speed in terms of data, and what I’d like to see is more integration," shares Ana Lucía Soto, National Media Manager at JCPenney. "Some of the linear channels like radio and TV that have been continuing this challenge over the years with having data that’s actionable in the same time and manner as digital, I would like to see that come together so that we can deliver media plans in the time that we’re planning them."
There's always going to be the need for that human touch that highlights culture; that's something that machines cannot do and it's 100% human.
But when asked if she thinks this process could lose touch with humanity, Ana L. Soto explains that automated processes will never take away the human factor. "There’s always gonna be the need to have somebody addressing the human issues and even though things are getting more automated and data is present all around us, I feel like there’s always going to be the need for that human touch that will highlight the culture," she says. "That’s something that machines cannot do and that’s 100% human. I think there’s always going to be a need to evolve with the times and to catch up with technology, but there’ll always be room for the human factor."