Report: Information Asymmetry Disadvantages Marketers

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A new report from ANA finds a significant percentage of ad buyers aren’t able to determine the quality of inventory sold through programmatic auctions.

HERE’S TODAY’S ACTIONABLE AI MARKETING AGENDA:

• Top News of the Day: Experian and Sonobi Partner on Post-Cookie Targeting Strategy

• Startup News: AI-Driven Marketing Startup Targeting Law Firms Raises $2 Million

• Top AI Marketing Trends: ANA Report: Information Asymmetry Disadvantages Marketers | Survey: Gen Zers Are Mostly Embracing AI

• Today’s Master Marketing Tip: Tom Fishburne, former CMO of HotelTonight

TOP NEWS

Experian and Sonobi Partner on Post-Cookie Targeting Strategy

Sonobi, a major provider of advertising marketplace services, announced it has partnered with the financial data and credit rating agency Experian to develop new programmatic ad-targeting capabilities, as the termination of third-party cookies looms.

Experian's “identity graph” platform contains over 2.75 billion IDs and an average of more than 22 digital IDs per household.

"Collaborating with Experian and integrating their identity graph is crucial progress towards a post-cookie era, where targeted and effective advertising can thrive while protecting user privacy” said Justin Kennedy, COO of Sonobi.

“This collaboration enhances our programmatic addressability and demonstrates our commitment to delivering better, more respectful advertising experiences," Kennedy said.

Sonobi’s platform connects comScore's top 250 premium media properties with Fortune 500 advertisers.

STARTUP NEWS

AI-Driven Marketing Startup Targeting Law Firms Raises $2M

FirmPilot AI, a startup offering an AI-driven marketing platform that’s specifically designed for law firms, has raised $2 million of seed funding from a group of three venture capital firms, including SaaS Ventures, Valor Ventures and Early Light Ventures.

The company’s AI crawls the web in search of law firm press releases, guest posts, blogs, website content, reviews, and other marketing content to gain an understanding of what competitors are trying to achieve, and how they market their services. It distinguishes between different niches in the legal industry, and devises specific strategies for its users based on unique metrics.

FirmPilot says its AI has already analyzed more than 5 million pieces of content used by law firms and has embedded over 100 lawyer marketing strategies. It’s built on a database of more than 3,000 cases and is “perpetually learning from new situations and circumstances.”

With the fresh venture capital, FirmPilot AI says it will gear up for large-scale upgrades and new tools that will enable the platform to “push the envelope even further.”

TODAY’S TOP AI MARKETING TREND

ANA Report: Information Asymmetry Disadvantages Marketers

An extensive new report from the Association of National Advertisers (ANA) entitled “Programmatic Media Supply Chain Transparency” finds that a significant percentage of ad buyers think they aren’t able to determine the quality of inventory sold through programmatic auctions.

“Within the programmatic supply chain there are strong characteristics of information asymmetry in cases where sellers typically have more or better information than buyers,” ANA reports.

The study’s researchers asked a group of 21 large, buy-side market participants the question, “Where is your company on the information asymmetry scale?”

Their responses are represented in the following bell curve, with 26 percent rating their knowledge as low or very low 42% as moderate, and 32% percent rating their awareness as very high.

“It is concerning that some marketers don’t track the number of websites or Made for Advertising websites in their programmatic campaigns,” the ANA report states. “And it’s concerning that 25 percent of marketers are still not aware of Made for Advertising websites—despite the significant press coverage since mid-June.”

Survey: Gen Zers Are Mostly Embracing AI

A new report by Morning Consult found that more than half of the one thousand Gen Zers (aged 13 to 26) it surveyed reported using a generative AI tool in the past month, and that they find the new tools “fun, helpful and easy to use.”

The survey also found that ChatGPT is “the AI tool of choice for Gen Z.”

About 20% of the respondents said they think AI will create more job opportunities for their generation, while 40% think the technology will lead to job disruption in many traditional industries.

Roughly half of the Gen Z respondents in the survey expressed a desire to become entrepreneurs or start their own business.

TODAY’S MARKETING MASTER TIP:

Tom Fishburne was interim CMO at HotelTonight, managing director for international operations at Method Products, as well as managing director at Method Products. He’s also worked in brand management for Nestle and General Mills.

Fishburne’s cartoon studio called Marketoonist focuses on content marketing, thought leadership, and culture change. They’ve developed custom campaigns for over 200 businesses, including Adobe, Kronos, Lenovo Software, Dell, IBM, Russell Reynolds, Pitney Bowes, Deloitte, and DBS Bank.

Fishburne’s cartoons have appeared in the Wall Street Journal, Fast Company, and The New York Times, as well as twice on billboard ads in Times Square.

His advice to fellow marketers?

Don’t get so caught up in building a brilliant marketing and sales funnel that you lose sight of its ultimate purpose—helping potential customers find their way to solving their pain points.

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THAT’S ALL FOR TODAY, FOLKS!