Precision marketing, long touted to enable advertisers to understand consumers’ purchase journeys, execute personalised communications and consumer profiling, may finally be hitting its tipping point.
A new report by Nielsen has found that investments in precision marketing by advertisers in Asia are likely to increase in the next twelve months from 14% of marketing budgets to about one-fifth of spend (19%) going beyond social, search and mobile toward newer applications.
Key factors driving this acceleration in adoption include better quality and reliability of data, clear demonstration of ROI for advertisers and “further education to stay ahead in the game”.
In the next six months, the top three platforms where advertisers across the Asia Pacific region will be allocating their marketing spends are Facebook/Instagram (60%), Google/YouTube (43%) and mobile (42%).
Meanwhile, investments in advanced applications are increasingly gaining pace, particularly for data-science/modelling (36%), high-quality third-party data (32%) and analytics to measure ROI (28%).
The report highlighted data management platforms (DMPs) as the cornerstone enabler for precision marketing as more marketers seek to better engage with the current two billion online users across the region.
According to Nielsen, DMPs have been considered by many as a prerequisite for any serious precision marketing endeavour. However, only some acknowledge that they fully understand it, few believe DMPs work, and even fewer are currently invested in this space.
Ranjeet Laungani, Nielsen’s managing director of media, North Asia, believes that broadening expert ecosystems, presence of higher quality datasets and presenting more success stories will drive up confidence and adoption in the industry.
“The void in awareness and education can be filled by agencies, media owners and advertisers by maintaining an eye on the long-term and short-term potential of precision marketing,” he added.
Nielsen’s report, A Digital Giant Awakens, surveyed marketing leaders across Asia Pacific markets on their next level strategy and implementation road-map. This survey ran late 2018 into the start of 2019 and garnered a total of 81 advertiser respondents across 16 markets.
Sourced from Nielsen; additional content by WARC staff
This article first appeared in www.warc.com
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