Posted by Chris Hering, Director, Vertical Market Lead, Advertising, Media and Publishing at NetSuite
SuiteWorld 2015 last month in San Jose, Calif. was a showcase for our customers. Throughout the event, innovative companies shared how they are using NetSuite to transform their businesses and to lead disruption in the vertical markets they serve. For those of us in the advertising, media and publishing industry (AMP), SuiteWorld was an opportunity to highlight amazing customers and partners leading the innovation charge including Cardinal Path, SFX Entertainment and TubeMogul.
Fred Studer, NetSuite’s Chief Marketing Officer, described SuiteWorld as a massive virtual campfire, a forum for exchanging ideas and stories, and, one where each attendee can carry away with them an ember of innovation to spark their own organizational transformation. I think the virtual campfire is an excellent metaphor. The team and I will continue working hard to tend fires of innovation, transformation and disruption at all the organizations we serve as well as here at NetSuite.
So, what were some of the key SuiteWorld nuggets and embers for the AMP community?
Your Customers Expect You to Know Them. As we heard over and over at SuiteWorld, customers expect you to engage them with relevant, personalized content or offers how, where and when they want it. That need requires marrying real-time and historical customer data inside NetSuite with third-party information such as social behavior data, entertainment and personal interests, etc. Across any customer touchpoints, customers expect and demand a consistent and compelling experience.
Take for example the move towards addressability in ad buying. According to Phil Cowlishaw, Vice President of Special Operations at TubeMogul, “In the not-so-distant future, each individual watching a sporting event like the SuperBowl will receive highly personalized ads based on an individual’s location, age, previous purchasing history and their allegiance to particular brands.”
Prepare to Become an Omnibusiness. Formerly hard and fast industry lines are blurring on an accelerated basis in AMP. Agencies are fast becoming technology providers, as brands act like publishers with consumer mobile apps, etc.
Madhu Madhavan, Vice President at SFX Entertainment, knows this trend all too well. “It’s incredibly important to have a flexible business management system in place to support the organization’s future, since the future is never guaranteed,” he said during a SuiteWorld session. “For instance, in the near term, SFX Entertainment might suddenly have the opportunity to buy a huge concert arena or, in the longer term, be the first organization to have a concert on Mars.”
The Future of AMP
We don’t yet have an interplanetary SuiteWorld, but there were certainly some out-of-this-world SuiteFest music performances from artists such as Dorothy, Nico & Vinz, and Capital Cities. We also hosted a highly successful AMP Customer Cocktail event which attracted over 150 finance, IT and business leaders from companies including Amobee, Adtegrity, Cardinal Path, Sonoma Media, and The Marketing Store, to name a few.
We asked five industry leaders to predict what our dynamic and disruptive industry might look like in 2025. We included thought-provoking topics such as the likely top vehicles for media consumption and monetization; the future interplay between advertising and media; and the continued evolution of mobile advertising.
Below is a teaser for ‘Predict the Future of Media & Advertising: 2025 Edition,’ which contains some of thought-provoking and entertaining answers we received. We plan to share all of the thought leadership insights with you in a series of upcoming blog posts and via the NetSuite YouTube, Facebook, Twitter and LinkedIn channels. We look forward to your feedback. In the meantime, keep the AMP fire burning!