As we edge closer to the new year, it's only natural to look back on 2019 and evaluate our progress. How far have we come in one year? Which goals have we surpassed and which still lie on the horizon? And perhaps most importantly, what are we hoping to achieve in this new year?
What have we learned in 2019 and how will it impact 2020?
The Programmatic Improvement
2019 saw a large effort from the media industry to improve transparency and accountability in their media buys. As a result, more of every dollar should end up in working media as opposed to dubious middle market fees. To the extent this is successful, we would hope to see improvements in digital ROI in 2020 and beyond. Advanced analytics will be the truth-teller in whether or not the industry talk has turned into action.
Customer Experience is more important than Ever
We recently conducted an analysis outlining how marketers can successfully emerge from a recession. The major conclusion, rooted in data from the last 5 major recessions, was starkly clear: brands that focus on customer service & satisfaction throughout challenging economies win -- during and after a recession. There's simply no substitute in today's environment for a positive brand experience. If the recession hits soon - as predicted by 3/4 economists - 2020 will prove to be a crucial year for this learning.
Changes in VC & PE Investment Strategy
In 2019 we saw the spigot of Wall St open with several major IPOs. Consequently, we also saw the biggest Venture Capital busts as several famous start-ups tanked in market value. As a result of these failures, VC's have felt pressure to be more accountable in their investments. Private Equity firms have felt similar investment pressure as they seek to turn around large companies and generate higher profit levels and greater investment returns. In 2020 we suspect both VC and PE investors will turn to advanced analytics in order to better understand their relative drivers of growth and profit.
If you're looking to better understand how you can optimize your marketing analytics, (and of course, your marketing dollars) in the new year, reach out to us today!
