For this week, I’ve challenged a few of my coworkers to answer the following question in 100 words of less:
What is going to be the best way to reach consumers in 5 years?
Here is my first try – I invite you all to reply with your own take.
Five years from now – Data will be King.
New complex tracking and data capture techniques will allow for all advertising, regardless of media channel, to be purchased based on audience demographics and lifestyle variables. Reach, Average Frequency, and GRPs will give way to much more precise metrics and – not without a touch of irony – the media industry will no longer find importance in the channel of media distribution, there will only be content and audience.
The kind of data-driven quantitative analysis that has revolutionized Wall Street over the past 10 years will soon make its way uptown to Madison Ave.
I look forward to hearing your view.