Thank you for attending the Direct Agents Momentum Summit! Here are some key takeaways outlined from each session:
Opening Remarks / State of the Industry
- With the “new normal” projected to last to Q3 or Q4 of 2021, it’s important for brands to focus on relevant macro trends. Consumer sentiment shifts are changing overall consumer behavior, leaving lasting economic impacts.
- Increasing consumer optimism is leading to less loyalty to known products or services and creating broader interest in unfamiliar brands. This is a time for brands to test and experiment in order to expand their customer base.
- Consumers are more optimistic and embracing change, but are also becoming less loyal to known brands- take advantage!
- Look for further shifts to digital – explore new technologies and strategies
- Sustaining first-mover advantage to tech & experimentation – there is a positive correlation between brands who invest in tech and new strategy and the “bounce back” Having a recession & pandemic exit plan
An Approach to People-Based Targeting with Tealium
- With the endless amounts of data available and new regulations popping up, first-party data and people-based strategies have become far more important for brands when considering marketing initiatives. The emphasis is now on defining relevant data and understanding why this data is important to the overall goals rather than mass collection.
- Planning for the future and understanding the preferences of consumers is imperative during the holiday season, especially with shifting trends in our increasingly remote world. Collecting data during the holiday season will help brands better reach customers in the following years.
- Ensure all data collected is in line with the brand’s marketing objectives
- When creating marketing strategies, the emphasis should be placed on a data layer strategy
- Brands should utilize consumer data platforms heading into the holiday season to ensure success in future years
- Shifting to first-party data and people-based approaches mitigates poor user experiences and brings consumers personalized information
Preparing For What’s Next in 2021 with Google
- In order to effectively deliver what matters most to customers, advertisers must embrace a digital transformation. This path starts with keeping up with massive industry shifts such as digital streaming and transitions into a system that delivers more meaningful advertising and speaks to consumers’ true needs.
- Understanding a customer’s path to purchase is imperative when considering how to drive business growth in a data-heavy and digitally focused-world.
- Recognizing the reality of massive cultural shifts (wellness, eco-commerce, purpose-driven brands) is imperative to success with no alternative option
- Think with Google allows brands to engage people across online journeys and use this information to inform decision making
- Continual experimentation and clear goals will lead to consistent brand growth
- Google’s Rethinking Readiness Report will help guide Q4 priorities and 2021 planning
Defining 2021 Opportunities with Facebook
- For brands hoping to keep up with the shifting consumer trends in 2021, the focus is on giving back. Now more than ever, consumers are looking to brands that emphasize benevolence and safety rather than prioritizing the lowest prices.
- After 6 months of changing consumer habits reinforced during quarantine, e-commerce is here to stay in the 2021 shopping season. While this was previously a theme common with the tech-savvy Gen Z, the e-commerce space now also dominates the preferences of older generations.
- In order to stay consistent with consumer trends, brands must stay agile and flexible in their strategies and prepare for shifts at any moment
- Consumers are increasingly valuing brands that are supporting local communities and emphasizing safety
- While discussions are the first steps in purpose-driven brands, consumers want to see action
Black Enterprise – Momentum of Change: Building An Inclusive Media Mix
- Brands are increasingly pushing for stronger connections with micro-audiences, and in particular, multicultural audiences. However, this strategy begins with an authentic connection and building genuine relationships.
- Looking towards Q4, building multicultural audiences begins with having conversations. Brands who already initiated these discussions should focus on maintaining the momentum for a diverse future rather than letting these commitments get lost in the movement.
- The push to reach out to multicultural audiences begins with authentic connections and genuine relationships
- In the current remote environment propelled by the pandemic, bringing knowledge to the forefront and showing people in their natural habitat is what consumers are looking for