Artificial intelligence, data science and automation were among the key trends to emerge from Cannes Innovation 2016 as marketers consider the opportunities of data-driven marketing.
In an exclusive article for Warc, Avinash Jhangiani, Chief Innovation Officer for Omnicom Media Group in India, argues that the power of these tools to drive creative marketing will be the dominant trend of 2016.
Programmatic media, Jhangiani writes, have unlocked tremendous potential in how marketers tell stories, enabling data and creativity to come together to tell brand stories in a more resonant and effective way than ever before.
Likewise, as consumers switch off to mass-marketing, brands that are able to shift strategies to target individuals with personalisation and data-driven creativity are set to gain a significant competitive advantage.
But also, marketers need to rethink the media buying philosophy from 'cost efficiency' to 'adding value'. The new currency for value creation in media is Consumer, Content, Context and Cost.
Jhangiani suggests that extracting actionable insights from data not only requires the best platforms but also requires a new philosophy for how data is organised, and how marketers organise people to action it.
As marketers continue on the path to gather more consumer data in real-time, there will be a constant need to automate marketing processes and make algorithms more 'sentient'.
And as the number of channels and touchpoints increase, marketers will be able to capitalise by making the most of advancements in programmatic media and AI-driven marketing.
Data sourced from Warc