Yet personalization remains mostly a fantasy and right now it’s just not happening between brands and people. It’s time to examine why and to ask ourselves: Is personalization even a good idea in the first place?
In trying to achieve one-to-one marketing, we might actually be putting our brands at risk of fragmented messaging, multiple personalities and vapor for brand equity. And even if we actually pull this off, there is a ton of mythology surrounding our ability to successfully execute micro-campaigning at the kind of scale we need to move markets and competitive share.
Often this comes down to simple math. If you target a specific slice of the web population using the powerful segmenting tools at your disposal, you may start with a million prospects. But, for every attribute you apply, you end up slicing that group thinner and thinner. Very quickly, you may find that your sophisticated marketing efforts have led you to a handful of shaving cream enthusiasts in the Pacific Northwest.
It’s natural for CMOs to want to figure out exactly how every interaction with their brand leads to a purchase over a day, a week, a month and a year—and how much they should be spending on each media touchpoint to deliver that purchase.
But, in terms of practicality, it’s as big a fantasy today as “Game of Thrones”.
We’re at a point where consumers are more savvy, empowered (hello ad blockers) and informed than ever. They are clicking permission check boxes and they are reading about EU fines for Google/Facebook and massive data breaches around the world. We haven’t even begun to solve the privacy issues associated with General Data Protection Regulation (GDPR) in Europe, while the California Consumer Privacy Act (CCPA) will soon be upon us in the U.S. Will identity graphs even be legal in the future?
The future is uncertain, but it will be bright
What we’re left with is a whole new world of ad targeting. We think consumers will end up in a place where they have far greater control and transparency around how they are being targeted.
They may even—wait for it-—agree to get paid by brands for their attention.
That may seem a little far-fetched now, but it actually represents a huge opportunity. Imagine a world where consumers actively engage in what they see and don’t see and they are actually “bought” into the relationship? Instead of wasting billions of dollars on unwanted ads, we will invest where ads are relevant and welcomed by those willing to be compensated.
It can’t get more personal than that.
Originally published on Ad Age