Page 41 - Adnews Magazine November-December 2021

Raitt, whose company works with some of the largest retail, restaurants, real estate and travel brands in Australia, says the challenges being seen in the advertising and marketing industries here, in regards to real world audience data, are much the same as being seen in other parts of the world.
He believes these can be categorised into three key themes - disrup- tion, data and demand.
Disruption has been caused by a “walled garden policy war”, he says.
“The implications for that is that we’re starting to see the phasing out of third-party cookies. The question we need to ask ourselves is: ‘Do we want to live in a world where only a handful of global platforms have the power to monetise audiences?’. I don’t believe we do but If we don’t do anything we are going to head into an identity crisis.”
Raitt says the situation has come about because of a raft of privacy and regulatory changes that are either already in motion or about to be introduced, challenging the commercial models of many businesses and forcing advertisers to seek out new identity solutions.
To capitalise on this, Raitt says brands are now creating their own “data lakes” using pre-existing first party data.
“If they’ve got a single view of the customer they can continue to serve them the best possible experiences throughout their path to purchase, regardless whether they are online or instore. An example of this is how advanced retailers in Australia use our Compass attribution analysis to
determine which marketing event contributed to the most ‘Clicks to Bricks’ footfall sales.
Going forward
Raitt says these types of experi- ences are not going to be fulfilled in the future unless people have a universal ID solution that aims to replace third-party cookie-based targeting and the inefficiency of cookie syncing.
“When I speak to agency lead- ers that manage the biggest adver- tising budgets in Australia, funda- mentally they believe there has to be a probabilistic answer (predic- tive modelling) as a solution to the deprecation of cookies. But I would argue you also need to con- sider having both - a deterministic element affording you access to both first and third-party data that will provide scale.”
Raitt believes the solution to these challenges lies in the ability to merge the best human mobility data, to places and online data - or to put it another way - finding a way to con- nect the physical and digital worlds.
“When you merge that together you get a really strong indicator of behaviour not just intent and that is very good at modelling for what purchase behaviour could be in the future.
“There’s hardly an industry that hasn’t been impacted by tech- nological disruption. By utilising the insight offered by companies such as Near to gain a better understanding of your customer and how they engage with all touchpoints, incumbents can also leverage this data to help fight dis- ruption while continuing their own journey of digital transfor- mation to promote better deci- sion-making in the future.”
Near is the global leader in human movement data intelligence. With the aim of arming Australian advertisers to authenticate, activate and attribute ROI, Near operates across 44 countries and is able to data match to more than 1.6 billion people globally, including 16.4 mil- lion in Australia. To help offer scale and security, it has a suite of four integrated products, underpinned by its persistent ID Proxima to match and onboard first-party data.
See: www.near.com
in partnership with
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