Day one of ad:tech kicked off at London’s Olympia yesterday, kickstarting a two-day event showcasing the latest insights and vendor offerings from the world of advertising
One of the morning’s keynotes that particularly caught our eye was a panel discussion on the data challenges currently facing advertisers. Just after 11, we headed over to the Headline Theatre to bring the lively morning to a close.
To discuss the latest trends and developments, CEO of The Exchange Lab Chris Dobson chaired a panel alongside Ben Foster, Digital Director of MC&C, Kath Ludlow, MD of Four Engage, and Nick Suckley, Digital Partner of Goodstuff. The panel debated the state of the UK industry and agency approaches to data in a post-GDPR world.
Testing the water
It is no secret that the post-GDPR world is inhabited with businesses treading carefully around their data pools. In fact, some are barely dipping their toes. UK media agencies are no exception, with only 20 per cent of brands actually making use of the data they own. The figure is striking in an industry where data is very much the lifeblood.
As GDPR fines can amount to up to four per cent of a business’s turnover, you can understand why many agencies are unwilling to take a gamble on data, and why their clients are seeking to gain direct control over the data used to fuel campaigns.
Chris Dobson points out that complicating matters is a change in attitude of younger demographics towards data discretion. He invited the panel to share their views on how these changes are affecting the industry.
“GDPR had a clear and direct impact, making clients stop and rethink data as a whole,” says Suckley.
“What we are actually seeing is clients wanting to ensure that they own their data, when historically agencies have owned the data and reported it back to their clients.”