Benoit Cacheux, Global Head of Digital & Innovation, Zenith will be speaking at Interact alongside Ravi Jagdeo, the Global Digital Trading Director of Reckitt Benckiser (RB). Their presentation on day two will address the personalisation conundrum that is causing a lot of confusion for brands and agency planners. Ahead of his highly anticipated presentation, we caught up with Benoit to chat about the latest industry trends and developments. Check out Benoit’s thoughts on identity management, transparency and of course, personalisation!
What will you be discussing at Interact?
Benoit Cacheux: This session discusses the enigma that surrounds personalisation in advertising. One of the best and most effective benefits of digital advertising is its promise to deliver precisely targeted messages to consumers. Because of this, the majority of today’s marketers are prioritising the pursuit of personalisation to retain and attract customers.
At the same time consumers are saying they want content to be personalised, they are also becoming increasingly resistant and sceptical to digital advertising, how their data is being used and to the technology that enables personalisation. At Zenith, we believe that brands need to take a more nuanced approach to personalisation in order to overcome this paradox. They need to invest in a data-led approach to value-exchange marketing and to make a clear distinction between serving relevant advertising and creating personalised experiences in their transformation plans.
Apart from your own, what’s your must-attend session at Interact?
BC: I think the P&G session will be interesting because they’re known for making industry-rallying headlines at international advertising conferences. Last year, at IAB US’ Leadership Summit, Keith Weed made it clear that the supply side must do better for the business by working with the right partners who are committed to improving the digital landscape, which in turn, will make their business better. It looks like Taide Guajardo will continue on this theme by discussing what they’re doing to take responsibility and improve marketing standards.
Following the same lines, I’m also looking forward to the IAB Tech Lab and TAG’s session on Ad Fraud because the IAB and other industry partners have come a long way to create a better, more effective advertising landscape. It will be good to hear their update on the latest regulatory initiatives and how we can continue work together to raise industry standards. I’m also looking forward to Mondelez’ session since they have recommitted to investing in new technologies and a ‘fast, focused and fearless’ marketing approach.
Why should people attend Interact?
BC: IAB Interact is a preeminent event where all players within the advertising ecosystem come together to address, debate and act on the most pressing issues facing the industry. With a solid line-up of speakers across the two days, it also provides a great opportunity for networking with like-minded peers.
What’s your 2019 industry buzzword?
BC: I’ve got a few. Personalisation has been a buzzword for several years and remains one because, until recently, reality hasn’t matched all the hype. We’re overestimating personalisation in the short term because consumers don’t like sharing their data; that’s where the conundrum lies – people are pushing back on personalisation despite enjoying its benefits on a daily basis. But now, technology, data, platforms and capability are finally coming together to deliver meaningful conversations with customers, which heighten relevance. This exciting to marketers who look to drive maximum efficiency for campaigns, while audiences benefit with messaging that relates more to their behaviours and consumption.
Another one is programmatic transparency as the industry continues its quest in optimising the supply chain for programmatic. One year after the implementation of GDPR, consumer privacy is still a top concern. While having more control over how their data is shared is ultimately a good thing for consumers, it does mean access to quality data could be limited, making personalisation more challenging. Less data will require more creative and innovative solutions in order for brands to better reach consumers. The optimists might also say this is ultimately a good thing for digital advertising because the end result will be ads that are more relevant and of higher quality, leading to better ad experience for consumers and increased effectiveness for brands.
What industry developments have you been most excited about this year?
BC: There a lot of developments to be excited about including identity management, the building of consumer IDs, the growth of dynamic creativity and the dream of personalisation becoming more real. The impact of voice continues to be an important development as it is effectively poised to be the new interface of the future. According to a recent Digital Marketing Institute survey of senior marketing professionals worldwide, 42% believe that voice search will be ‘most important’ for their company’s overall digital strategy by 2020. It’s definitely top of mind as brands prepare for the tipping point when people start using their voice to regularly make purchases and agencies and media owners plan to organise themselves to be as visible as possible in this developing space.
What do you feel is the biggest challenge to our industry?
BC: I think it’s a combination of factors – media quality, transparency, viewability, safety, ad fraud – that are the biggest blockers in terms of people having more trust in managing their spend in digital and offline media.
Finally, have you visited Warsaw? If so, what’s your top tourist tip? If not, what are you most excited to do or see?
BC: The last time I was in Warsaw I really enjoyed walking around the Old Town. It’s been beautifully restored following WWII and is the heartbeat of the city. I was also surprised to see how many green spaces excited within the city – it was refreshing and peaceful.