CANNES — Brands spend too much time measuring the wrong metrics and should, instead, switch focus to look at a holistic overview of what matters in world in which they take back control.
That is according to the chief of the media agency network launched by Omnicom last year.
In this video interview with Beet.TV, Hearts & Science CEO Scott Hagedorn worries: “Everything’s gotten broken apart.
“(Clients’) CRM programs aren’t working anymore, they’re divorced from their media programs… People don’t look at the aggregate anymore. It’s important to look at the broader KPIs… sales, purchase intent, proving out brand equity improvement … versus looking at these little pieces that aren’t connected anymore.”
Hagedorn was drafted in from Omnicom’s Annalect data division to run the new unit that is equal parts data and creativity.
He sees an opportunity for clients to use consumer purchase data, connected to ad exposure measurement, to figure out the true ROI of ads – but Hagedorn also sees a privacy concern emerging.
“A lot of consumers have grown up with the concept of a free internet … they’re not as concerned (about) demographic or behavioural data being utilised (in ad targeting),” he says,
“(But) when you start getting in to purchase data … there gets to be some concerns. I advise our clients … they should own their own DMP (demand-side platform), let the agencies operate and have it be fully transparent. Clients need to own their own ad-tech stacks, agencies need to be adept enough to operate on top of those investments.”
This video is from The Mastercard Automated Advertising Panel at Cannes Lions 2017. For more from the series, please visit this page. Hagedord was a panelist at this event.