New IAB Report Reveals Data Sources that Inspire Creativity and Reduce Digital Ad-Spend
Lack of Data-Led Creativity the Leading Cause of Wasted Digital Ad-Spend, Says New IAB Report
- IAB Report demonstrates how brands can harness data to influence the creative communications process
- The key is to foster a data-driven philosophy across teams
In their recent report, The Interactive Advertising Bureau (IAB) Singapore’s Measurement, Standards & Data Committee, has revealed that poor data application in the creative process is leading to a significant wastage in digital ad spend. The whitepaper titled, “Creativity Inspired by Data“, also identified the key data sources that inspire creativity across various stages. These stages comprised of data harnessing, transaction, sales, web and app analytics, social listening, and customer data intelligence.
As the APAC’s digital ad spend grows, consumer data has become a massive by-product for brands, but lack of training in digital and data related skills is a key barrier to campaign success.
At the time of this announcement, Miranda Dimopoulos, CEO, IAB Singapore, said, “The challenge in tailoring digital campaigns lies in recognizing where data originates and how they influence creative briefs to develop highly relevant and engaging content. Especially in Southeast Asia, where programmatic is only beginning to take off, brands must be quick to pick up on key learnings, ensuring advertising budget drives toward achieving business bottom lines.”
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Research by Adobe Digital Insights reveals that gaps exist in the applications of data-led creativity in digital campaigns for APAC. 65% of 18 to 34-year-olds prefer ads based on their interests, with a third of the same demographic believing advertisers can do better in personalization. Much of this can be attributed to brands appointing multiple agencies that end up working in silos focusing on distinct and individual KPIs. The lack of digital collaboration ultimately results in wasted advertising dollars.
To encourage a data-driven approach, it is imperative for brands to leverage a Creative Communications Process framework across the entire campaign development process.
Deepika Nikhilender, Senior Vice President, Xaxis Asia Pacific, said, “As data-driven marketing becomes the new normal, it is important to advocate data-inspired creativity among marketers, agencies and brand owners. Using the Creative Communications Process framework, digital campaigns can be readily optimized with insights from the data signals around us, to develop engaging and impactful creative platforms and campaign ideas.”
Injecting Each Customer Journey with Data that Delivers Personalized Conversations
Move away from the siloed approach. IAB Report clearly mentions that it’s time for the organizations to bring together their marketing, media, brand, and insight teams. The end-goal of these teams should be to transform the creative process of delivering digital advertising powered by creative data. By fostering a data-driven philosophy, and encouraging collaboration across departments, organizations could shape their customer experience campaigns and brand messaging with insights from data and key metrics for both medium and the message.
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