As AI, IoT, and data privacy regulations continue to evolve, there is tremendous potential for consumer-focused industries to transform the way they interact with customers. In a privacy-first DX 2.0 economy, a brand's success depends on its ability to quickly generate comprehensive 360° customer profiles, analyze data from multiple channels, and deliver dynamic and hyper-personalized experiences in real-time.
But there are challenges.
Unfortunately, many brands rely on legacy technologies that are ill-equipped to adapt in an agile way—facing siloed data, stale customer insights, growing privacy regulations, and the decline of third-party cookies. Without the ability to unify customer insights across all channels in real-time, companies who heavily rely on analytics will struggle: they may see a decline in retention and ROI, and an increase in churn.
In this blog, we’ll explore five critical keys to success that sports entertainment and ad tech brands need to succeed in the DX 2.0 economy—and how customer intelligence can enable and amplify that success.
Leveraging and activating customer data is your bread and butter. You can’t do that without a few core functions and capabilities that should already be set in place.
If you don’t have all of the following, your brand will run into big hurdles:
Consider the sports fan placing bets while watching a game in real-time. They may open your app to place bets, check game outcomes, read live updates, or click on an ad at a certain time—all while watching a game on their streaming device. They may even comment within your app as a game unfolds, or as another ends. Each of these events contextualizes the customer’s larger journey, and your brand’s ability to predict their future behavior is crucial to providing better experiences and upsell opportunities.
A problem, though, is scaling that data upon ingest. DX 2.0 customer journeys are a massive tapestry of countless user events interwoven across multiple channels, so brands need an analytics solution that can scale. Many sports media companies rely on a multitude of tools to pull insights, collect data, and process that data—which ends up giving brands a fragmented, stale view of their customers. Without a scalable, comprehensive analytics solution, sports media and ad tech companies just won’t be able to meet their customers and leverage their data in real-time.
So far, 2023’s market volatility has driven brands to slow down on advertising spending. Global advertising spending growth in 2023 is projected to slow to 3.8%, compared to 19.6% in 2021. As a result, ad tech brands are under immense pressure to maximize ROI. In a cookieless world, brands have to rely on first-party data—and adhere to new privacy regulations and customer trust expectations.
Ad tech companies need real-time data analysis of first-party data, as data is ingested. Privacy and compliance also need to be implemented upon data ingest. In doing so, companies can perform cross-media measurement faster, with more accuracy, and make changes while a campaign is in-flight. Instead of waiting days or weeks after an ad campaign, brands can glean minute-to-minute insights into user behavior and determine the most effective activation channel.
Thriving in today’s DX 2.0 economy isn’t easy without the right tools. But failing to do so hinders your ability to provide better ad campaigns and content, execute optimal cross-media measurement, drive ad ROI, and more.
A customer intelligence solution can change that.
For media and ad tech companies, executing the following functions flawlessly is not only a must, but will deliver the business results they’re looking for. A customer intelligence platform, like Scuba Analytics, can help them do that:
With fewer third-party cookies and more privacy regulations to adhere to, obtaining accurate attribution is challenging, but all the more essential. Customer intelligence makes that possible, and can help pinpoint where revenue-driving customer touchpoints are happening, which channels they come from, and when. Real-time multi-touch attribution insights empower your team to identify trend lines and deliver hyper-targeted campaigns with confidence. Behavioral journey analysis, customizing experiences, and robust A/B testing are must-haves for brands who want to achieve attribution and measurement properly.
For example, a sports media company might have multiple digital channels, like its website, smartphone app, and varying social media accounts. Customer behavior within each channel will vary, and being able to track with channel gets the most clicks or conversions does two things: it provides important behavioral insights and attributes traffic or ROI to a specific channel (or campaign, video, etc)—which both result in improved strategy and ROI.
Cross-media measurement has changed in the DX 2.0 economy. With new privacy regulations and customers demanding more transparency with how their data is used, accurate and precise CMM can be a challenge. Ad tech agencies and media companies also have less third-party data to rely on, and don’t always have the tools to unify and activate (or even obtain) first-party data in a compliant way—all in real-time. Regardless, viewing, analyzing, and optimizing ad performance and in-flight campaign performance is key to not only driving ad ROI, but understanding how customers behave and interact with ads.
Is your brand poised to succeed in the DX 2.0 economy?
Scuba can help. Scuba’s real-time, customer intelligence platform empowers brands to activate their customer data to drive efficiency, retention, and ROI.
Want to learn more about how to succeed in the DX 2.0 economy? Request a demo today or talk to a Scuba expert.