Between innovations and structural transformations, will 2022 see a new dynamic across the tech sector? Privacy regulations are intensifying around the world; marketing teams are adapting to the post-cookie era and digital roadmaps for the future; the new generation of Marketing Mix Modeling is coming to the forefront; retail media continues to grow in a context centered on first-party data; brands are approaching the Creator Economy where new opportunities are emerging… Discover the tech and data marketing trends that will make 2022!
1. Innovation and Revolutions: The big tech questions for 2022
Web3, Metavers, NFT, crypto… 2021 was marked by buzzwords and given companies and media a lot to think about for 2022, to say nothing about Facebook’s major strategic turnaround of Facebook and its renaming to Meta. Benedict Evans – in his annual presentation exploring macro and strategic trends for the tech industry, this year titled “Three steps for the future” – evokes waves of disruptions that could cause major shifts in consumer habits and behaviors.
Several trillion-dollar questions are therefore pending in this context of uncertainty, such as the voice of brands in the construction of the future of tech, and new practices in the virtual world and privacy regulations. Indeed, several brands, such as Burberry and Nike, have already seized the subjects of the metaverse and NFTs in a race to remain relevant and take the lead on fast-catching trends. But the question is how to get the largest number of people on board, where innovation and new technological challenges look like revolution.
2. Privacy regulations are moving forward
2021 has been marked by numerous changes and new regulations in the tech sector, all over the world. Between limitations on data collection and the increase in local and global privacy laws, the industry continues to tackle anti-competitive practices and to give users more control over their data. And this is only the beginning.
As more regulations are announced, it’s increasingly unclear how much they will change user experience: some companies will be limited in what they can do, or may even be barred from entering certain markets. Others will have to juggle and adapt their strategies regarding different laws in the territories where they operate, while giving more transparency to consumers. A topic that will surely be at center stage again this year, but perhaps with a little more stability?
3. Building a digital marketing roadmap: a top priority in a post-cookie era
On the menu in 2022: no more cookies! Already under attack for a while, the few remaining third-party cookies are probably in their last year… Between increasing tech, regulatory and user limitations, the rise of privacy topics is constantly reshuffling the cards of the digital marketing industry. The time has come for marketing and tech professionals to get back in the driver’s seat regarding their data strategy. Indeed, the end of third-party cookies does not mean the end of targeting, and many solutions and methods are emerging, such as the increase of user consent to improve the experience while respecting privacy. In this context, first-party data hence appears as a new El Dorado for brands and retailers.
Read more in this Exchangewire article
4. The new challenges of Marketing Mix Modeling
The end of cookies may have a silver lining: it presents a good opportunity to review the basics of marketing. Some methods and tools are back in the spotlight, and none more than Marketing Mix Modeling, or MMM. Over the last ten years, it has become the reference tool when it comes to deciding on the allocation of marketing budgets. But it’s not about rehashing techniques that used to work; the goal is instead to develop a new generation of MMM, especially to meet the challenges of data exploitation in a privacy-first world.
But what is MMM? By quantifying the impact of a brand’s marketing strategy on its performance, by analyzing a multitude of external data (weather, seasonal peaks, etc.) and internal data (the famous 4Ps, CRM data), and by relying on modeling, and therefore data science, it is possible to create a proprietary model on an advertiser’s cloud. The goal is to have accurate, actionable results and to be able to continuously update the software. Budget allocation can be completely changed and strategies can be modified and optimized, all at a lower cost.
5. Retail Media: a major opportunity for brands and retailers
The pandemic has seen big shifts in the way brands communicate with consumers. Need a reminder? Retail Media networks are advertising platforms set up by retailers that allow advertisers to place ads both on the retailer platform and across the internet, activating shopper data in order to connect with consumers throughout the entire buying journey. Retail media is now taking on a whole new shape, especially with the search for new dedicated tools to increase and diversify advertising. The main goal is for brands to reach consumers through ever more various and new channels. Key players such as Amazon, Walmart, Target or even Tesco in the UK have joined the party and are also seizing opportunities such as livestream shopping, which has grown to become a very trendy point of contact with consumers.
6. A crossroads for the Creator Economy
Today, the use of social networks is in constant evolution. Between emerging platforms and new functionalities of existing networks, content creators are diversifying and expanding their communities. Though many brands were previously reluctant to engage in collaborations just a few years ago, influencer strategies are now a hot topic among marketing teams, and online content is growing fast. This dynamic brings new opportunities for platforms, especially in terms of monetization. A model that is not new, like YouTube, but that has spread to other platforms as well as to new models related to advertising, subscriptions, donations, etc. Some of them have already conquered many Internet users, rising to the top of their sectors, like Only Fans or Twitch. Prospects that may not delight all consumers, who will have to pay several subscriptions on different platforms: video streaming site, media, educational content platforms… Each content platform will have to seize this monetization opportunity, while keeping an eye on their competitors.
Read more in Euronews Next