Executives putting digital transparency at the top of their 2018 to-do lists, but simply checking the box won’t solve the world’s transparency issue.
There is no road map to digital transparency. We’re all in the same boat, determing how to best manage data. We need to be honest about how we’re managing the rate of advancement in this industry. Whether it’s a data breach, financial mishap, etc., we need to be transparent about the issue and how we fix it.
Client and customer relationships deserve honesty and integrity. We owe it to our customers to do whatever we can to proactively mitigate these risks and ensure their interests are protected.
We don’t want to stifle innovation for fear of the unknown. Let’s set a precedent of being proactive and transparent about addressing these issues, rather than acting like we have all the answers or cloaking the issue at hand.
1. Humans come first
There is ample performance data at our fingertips, which business leverages to better understand customers and drive bottom lines. However, in their effort to maximize profit margins and upend competition, humans have been watered down to subjects in a study — to an ROI metric.
The digital veil of anonymity has given data stewards permission to depreciate the human connection. To be more transparent, our industry needs to recognize that every datapoint we touch is a person. We must use our emotional, real-world, intelligence to connect to humans digitally. Imagine you have to see each consumer in front of in real life. Would you ever ‘shout’ at them, show them the same things over and over again or interrupt them? No.
2. Follow the road less traveled
Einstein said that we can’t solve problems by using the same kind of thinking we used when we created them. Similarly, to effectively respond to these transparency dynamics and address competition within the industry, companies must invent new ways to solve problems.
An innovative approach to technology.
Develop proprietary data and analytics innovation; focus on brand safety and create personalized media strategies that track consumer behavioral data. By leveraging these tools, clients can utilize deterministic marketing tactics to increase the efficiency of their media dollars, curate personalized consumer messaging, and safeguard cross-channel management.
The technologies can solve online challenges. Digital businesses grow by identifying the full spectrum of clients’ interests and using that info to run more personalized campaigns, based on past purchases and product life cycles. New and existing customers are found via hyper-targeted campaigns, based on predictive analytics.
Expanding strategy, creative and insights services.
Capitalize on the rise of mobile and navigate the use of emerging technologies. Leveraging multiple data sources to drive consumer-centric content and creative.
As new digital tech, such as blockchain and voice, continue to emerge and capture the hearts and minds of consumers, brands can embrace those trends and technologies to foster a more human and authentic connection with consumers.
Hiring staff that are differentiators.
In the agency of the future, creative and content should live alongside data and analytics. Developers and engineers should play a bigger role in brand efforts.
3. Cultivate the precedent from within
Transparency is more than just a commitment to clients that you will engage in open and honest conversations. It needs to be woven into the fabric of your business -- from the way you communicate with your employees, to how your contracts are written, to the core values your organization executes.
If we expect the industry at large to be transparent, we need to start by nurturing it from within.