In an opinion piece posted on Fast Company’s coCREATE site, Tribal DDB agency CEO Paul Dunning exhorts marketers and agencies to get serious about adapting their strategies to make use of real-time data. The key question:
Given that there is now an understanding of audiences in near real time, why are marketers struggling to act on this valuable trove of data?
Among the obstacles he cites:
- most brands plan media budgets far in advance
- the complexity of the chain of players that must work together to make real-time marketing a reality
- the inability to “nimbly push through creative”
The solutions he offers:
- Swift approval processes for creative
- Involve legal from the start rather than trying to circumvent them
- Build “buffers” into budgets to allow for on-the-fly tweaks and/or new campaigns
I had a conversation today with an agency executive who shared several of the same concerns and issues. Creative, in particular, is a huge bottleneck, he said. Technology can help marketers and their agencies find opportunities to do real-time marketing, but creating the creative is still the domain of humans, who can only work so fast.