Web marketing

Customer Acquisition in the New Open Web – WWD

In a recent Web 3.0 report, Viant Technology Inc. noted a variety of industries experiencing rapid digitization during the pandemic. The report’s authors said companies “have gone through 10 years of digital transformation for a very long year and counting.” And they noted that “the ever-adaptive consumer has changed just as fast and perhaps faster, replacing personal connections with digital ones in record time.”

Well, buckle up, because another transformation is happening.

Web 3.0, or as Viant Technology calls it, the “New Open Web,” is driven by growing consumer demand for digital privacy. They are also looking for more meaningful connections with brands and merchants. They are looking for a more personalized experience and relevant engagement from the brands they support.

“At the same time, the mechanisms by which marketers connect with consumers are changing,” the report notes. “Partly because of these same consumer pressures, cookies and device identifiers – once mainstays of programmatic advertising – are on the way out. The digital advertising industry is struggling to find new ways to ‘reaching consumers, trying to follow a future that has already happened.

For its part, Viant Technology offers Adelphic, which is an industry-leading omnichannel demand-side platform that helps marketers deliver programmatic advertising campaigns across all channels and at scale. The results are surprising. For example, a global footwear brand using the platform saw a 150% increase in foot traffic to its stores. And a children’s apparel brand saw $18 return on ad spend, or ROAS, against its $5 target, while conversions increased 162%, 2% above its $5 target. acquisition of new customers.

Courtesy image.

But what are some of the opportunities of the New Open Web and what should marketers know as the market transforms again? Tim Vanderhook, CEO of Viant Technology, said this is “a moment of rebirth for digital advertising, and the potential of the open web is greater than ever for marketers.”

Vanderhook said the open web “emphasizes choosing where and how to connect with customers in the expanding digital landscape – across different content experiences.” The CEO said emerging new channels, such as audio streaming, digital OOH and in-game advertising, “offer new ways for marketers to connect with their audiences outside of walled gardens in moments We have already seen how connected TV has changed the landscape.”

And as the open web evolves, which includes “cookie deprecation,” Vanderhook said, industry marketers must move to a people-based standard — one that puts the user first and provides a better experience. “Our technology operates on a people-based standard, which can give businesses a better return on their media investments and break down data silos,” he added.

There are also other opportunities. Vanderhook said as Web 3.0 emerges with new technologies such as blockchain, “this will unlock new opportunities on the open web. We will see an internet that values ​​independence rather than controlled spaces such as walled gardens.

“As the web becomes decentralized, big gatekeepers won’t control marketers’ access, instead consumers will invite advertisers,” he noted. “It’s a time of resetting between consumers and brands and there’s a tremendous opportunity for brands to better connect with their customers.”

Asked where he sees ad spend developing over the next year, Vanderhook said CTV’s ad spend will likely continue to grow “as more consumers engage with forms of connected television and are moving away from linear or traditional television. Citing a 2022 AdExchanger article, he said: “At least one CTV device can be found in more than 80% of American homes, and advertising budgets CTV is expected to double by 2026.” In addition, the CEO said his company expects to see more investment in emerging channels including digital out-of-home advertising, digital audio and in-game advertising. This gives brands a chance to engage with their customers in new places, he said.

When it comes to trends retail marketers and brands need to know about, Vanderhook offered several key ones to keep in mind. The first is that retail marketers need to create hybrid consumer experiences and demonstrate their return by using and connecting online and offline marketing. “This will help ensure marketers reach more homes and get more conversions while improving the overall consumer experience,” the CEO explained. “By connecting online and offline advertising, advertisers are able to improve their measurement and effectively track and optimize their media spend and ROAS.”

Tim Vanderhook

Tim Vanderhook

Vanderhook also said retail media and retail media networks are opening up new opportunities. “The massive – and likely permanent – ​​shift to online shopping means brands need to reach customers in a virtual shopping environment, right at the point of sale,” he said. “This channel helps brands maximize the impact of retail ad spend and manage point-of-sale media independent of Google and Amazon. The emergence of retail media networks provides businesses with treasure troves of data from first party (such as retail purchase data) to generate billions of advertising networks.

The CEO said technology capabilities now enable online and offline measurement “and that closed-loop attribution is driving growth.” Vanderhook said that as cookies are obsolete and marketers adapt to the privacy-driven web, “marketers should pursue a first-party data strategy – whether that’s ‘operate these networks or operate their own data as retail media networks’.

Finally, Vanderhook said marketers should also be prepared “for accelerating the path and transitioning cookies to a more people-centric approach to marketing.”

“Much of the web is already cookie-free, including environments like CTV and mobile apps,” Vanderhook noted. “Marketers need to make sure they’re considering CTV and emerging media channels that allow them to reach and engage their audience where they spend the most time.”