The Data Opportunity

Web analytics feeds into product development, but it’s also vital for the business side, too.

By Bill Mickey
Monday, March 30, 2009

Sure, there was discussion of mobile, video, ad networks, UGC, and the viability of paid content, but one underlying theme of MPA’s fifth annual digital event held this year was the importance of customer data and its accompanying analytics.

“Data Is the New Creative.”

The afternoon keynote by Domenic Venuto, SVP, media and entertainment at digital agency Razorfish, focused on data. “Data is the new creative,” said Venuto, who singled it out as one of three emerging digital trends for 2009.

Last year was devoted to building out Web site functionality and redesigns, he said. This year, however, will focus on databases and customer behavior—especially connecting online and offline databases. There are several benefits to this strategy, said Venuto: Better targeting for increased CPMs and subscription sales; new product launches; and personalized experiences and content.

“Data, Data, Data.”

Then, in an afternoon panel called “What Advertisers Want,” panelists parroted the phrase “data, data, data” throughout the session. When moderator Jacki Kelley, EVP of media at Martha Stewart Living Omnimedia, asked the panel of agency execs what their single best piece of advice was for publishers, James Kiernan, VP, group client director at MediaVest Worldwide, said it’s all about audience. “Come to us with ideas that come from audience insights, tell us what you know about your consumers,” he said.

Stacey Deziel, managing partner at MediaCom Interaction went as far as saying back-end Web trends and analytics provided by services such as Omniture and WebTrends are underutilized. “That’s where you’re going to find the insights to allocate resources,” she said. “No one is using the tools like they could be used,” agreed Kiernan.

“Technology, research and math. These three things drive what we’re doing in this space,” said Jordan Bitterman, SVP, media marketing and content at Digitas, who then admitted that there’s a steep learning curve that can hinder progress, in the sense that learning all of this can seem intimidating. “Sometimes that holds us back—it’s the knowledge and understanding.”