The 3 P's Enabling Creativity to Thrive

Kicked off day 2 at the Cannes Lions International Festival of Creativity with Amazon Ads ' Alan Moss and Britt Gannon , The Coca-Cola Company 's Manuel "Manolo" Arroyo , and McDonald's Caleb Pearson where we discussed the key trends advertisers need to know about this year. These are not new, but they are here to stay.

Here’s my take on what I shared are the 3 P's:

Privacy

Consumers want to know that their data is secure. In the US, advertisers are having a tough time trying to keep up with the patchwork of state privacy regulations. Did you know we now have 10 states with their own? As such, marketers are focused on finding alternative yet efficient ways to reach and measure audiences with fewer identifiers. The trend is a shift towards privacy-preserving advertising practices and a focus on contextual relevance and measurable engagement. This is what’s driving the innovation we see in the industry where we are putting the consumer first – protecting them while still making advertising effective. That’s why Data Clean Rooms have become essential for marketers by enabling the use of 1st party data without sharing personally identifiable information. In IAB ’s State of Data Report, we found that 2 in 3 decision makers at brands, agencies, and publishers use data clean rooms. 

Premium

With the continued evolution of media and the rise of streaming, OTT publishers, TV Networks, Creators, and platforms are all creating engaging content AND reaching millions, if not billions, of people. The dynamic is changing and “Premium” truly is in the eye of the beholder. It’s not always about how much it cost to produce the content. It’s about what people want to watch and engage with. And with the ease of addressability, as marketers, we can target consumers where and when they are most receptive to our message. For the first time this year, we’re seeing time spent with digital video surpass the time spent with traditional TV. And since ad spending follows the viewers, digital video continues to be one of the fastest-growing mediums. IAB’s 2022 Video Ad Spend & 2023 Outlook Report shows that Digital Video Ad Spend grew 21% in 2022 to $47B – 2x faster than digital media overall. And we’re projecting it to grow to $55.2B by the end of 2023.

Purpose-Driven

Brand Safety, DEI+B, and Sustainability are all areas that marketers have been leaning into. However more and more, concern for the environment is at an all-time high. Consumers are supporting companies whose operations address climate change. And companies are seeing that a sustainable strategy is good for their bottom line. However, when it comes to the advertising industry, where sustainability is less visible, there’s more work to do. It’s exciting to see Cannes Lions and Ad Net Zero partner to report C02 emissions on the work being submitted. The trend here is that more advertisers are putting in the work to figure this out. At IAB, we’re happy to support both the Global and Ad Net Zero US to bring sustainability to the forefront of the digital marketing ecosystem through education and transparency. Together we are working to understand, report on, and reduce carbon emissions stemming from advertising operations to help move sustainability forward. 

It’s the combination of these 3 “Ps”– Privacy, Premium, and Purpose-Driven that unlocks the equilibrium to enable creativity to thrive. Marketers need to invest in all of them.