We live in increasingly uncertain times and work in a complex industry.
COVID-19 made it clear that we live in a volatile, unstable, complex and ambiguous world, as it struck digital marketing agencies with a 40% reduction in the media spend they managed for their clients. It represented the greatest data disruption in digital history. But digital marketing agencies have been on unstable ground for a while as they continuously embrace and adopt artificial intelligence at an accelerating pace involving more automation and less access to data residing in the data bubbles of the largest media owners.
Add to this the data challenges of privacy regulation, ad blocking, and the end of cookies, and you will get a full picture of the volatile environment digital marketers operate within.
We need to constantly be on the look-out for upcoming obstacles, and decide what new options, features, functionalities or opportunities we want to embrace.
In this VUCA world – Volatile, Uncertain, Complex, and Ambiguous – digital marketers face four major challenges:
- Accessing audience and behavioural data
- Interpreting partial data sets reliably
- Automating repetitive and non-strategic tasks
- Understanding how to navigate this unstable environment
The first three challenges can provide businesses with a strong advantage. The fourth challenge is a different one, relying not on technical know-how but on strategic insights and human intelligence.
A new report from Innovell aims to help businesses, both advertisers and the agencies & consultants who service them, tackle this challenge.
The report is based on in-depth research and a range of interviews with industry experts, and discusses issues like data access, artificial intelligence, automation, and business agility.
In four main sections the report contains a wealth of insight on issues such as:
- Audience data access, privacy, and ownership
- Why and how digital marketing businesses need to embrace agility & adaptability
- The disruption of Paid Search from 2018 to 2020
It concludes with a detailed look at which paths to survival a digital marketing business can adopt to ensure prosperity in our VUCA landscape.
Read more about the report and get your copy on the Innovell website here.