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We’re rounding out 2017 with a series that looks ahead to our next 12 months and features insights from our top partners. Today’s expert: Lotame Founder & CEO Andy Monfried.
What is the most exciting thing that happened to your company in 2017?
2017 was a big year for Lotame, and one of the most exciting things that happened was Lotame being named the Global DMP of the Year! We were thrilled to receive this recognition of our best-in-class technology and superior service and support that Lotame is known for providing to our clients around the world.
What do brands need to have mastered in 2017 to be ready to compete in 2018?
With a never-ending variety of data sources available, brands need to have a grasp on how to run a data-driven marketing campaign. And to do that, it’s important to understand how to pick the right data sources to use for your campaigns, how to judge the data quality before the campaign has run, and how to measure campaign efficiency afterwards in order to adjust your targeting metrics next time around.
What do you see as the major trends in your industry for 2018?
The call for increased data quality is gaining momentum, and we see that trend definitely continuing to grow in 2018. Each marketer will be addressing this issue in their own individual way, whether that’s in the form of combatting ad fraud by not targeting bots, or focusing on more direct sources of data such as 2nd-party data that you receive directly from the publisher. There will be a definite focus on quality over quantity in marketing in 2018.
What should brands focus on this coming year to stay ahead of competition?
Data-driven marketing needs to move to the center of the organization, and it needs to be more than just lip service. Marketing used to be on the periphery of a company, but for brands to continue to succeed, marketing needs to be used to influence product, brand effectiveness, inventory, and sales. Marketers need to be ready to make rapid decisions that have real business outcomes, with data and marketing at the heart of their plans.
What big change in your product or service will be a game changer in 2018?
In 2018 we are going to continue to see additional inputs of devices and types of information that are being fed into the DMP. Lotame and DMPs are no longer a large cookie store as much as they are foundations of people management and device management. In 2018 the types of data that DMPs can process and combine into one unified view of the consumer will continue to grow and expand.
What is one ‘reach-for- the-stars’ innovation that you’d like to see in the next 5 years?
I’d like to see a more seamless process for programmatic TV, in the same way we’ve made digital much more streamlined than it’s ever been. Currently digital advertising is a seamless process between ad servers, bidding, inventory management, and programmatic buying; I would like to see the advanced TV advertising space elevated for both national and local TV using data to achieve audience-driven TV targeting.
About Lotame: Lotame helps companies use data to build stronger connections with their consumers. In addition to being the leading independent data management platform (DMP), Lotame offers the most widely used, trusted and comprehensive data exchange in the industry. Committed to innovation, agility and – above all, customer success – the Lotame team aims to continuously find new and meaningful ways to harness the power of data to fuel more relevant and personalized experiences across screens and devices, online and off. Lotame is headquartered in New York City, with resources around the world, including Maryland, San Francisco, London, Singapore, Mumbai and Sydney. For more information, visit https://www.lotame.com.