Consultant Matt Prohaska believes the advertising industry is on track to benefit from consumers having full transparency over their data and fully opting in across all media channels. But he doesn’t think it will happen for another five years or so.
One of Prohaska Consulting’s top services this year is helping buyers, sellers and technology providers “take more ownership and control and command of their own first-party data, and then bridge appropriately into second-party across every channel imaginable or at least possible today,” the CEO and Principal says.
These actions are partly defensive and partly offensive, Prohaska explains in this interview with Beet.TV at the recent LUMA Partners Digital Media East event in Manhattan.
Defensively, it’s the “one-two punch of Google and Apple’s news over the last few weeks” and for offensive reasons “you might want to figure out this deterministic footprint because Google, Facebook and Amazon have been crushing you here in the states and BAT has been crushing everybody else in China and elsewhere.”
His reference to BAT (Baidu, Alibaba and Tencent) relates to “obviously the largest deterministic footprints in the world.”
As for traditional publishers being skeptical about the “speed bump” of having people log in so their data can be efficiently harvested, “Facebook’s kind of gotten over that over the last ten years and Google and Twitter and others have as well,” says Prohaska.
“For firms that can own their own identity, be able to collect their assets and then engage appropriately through proper regulation and opt in environment and recognized respecting the consumer first, where they can monetize either coupling or decoupling their identity data with their own inventory, those are the folks who are going to win for years to come.”
He recalls saying six months ago that “the world is going to move fully deterministic, fully opt-in across all media channels” by the end of 2025. “And we’re on track now.”
Before then, there will be “this major blowback, appropriately, with regulation and consumer fear understandable.”
But when consumers have full transparency over what’s happening to their data “and really what’s not happening to their data” there will be a tradeoff “around free content and services in exchange for a little personalization so we don’t serve punch the monkey ads for the next ten years.”
This video is part of Beet.TV’s coverage of LUMA Partners’ DIGITAL MEDIA EAST 2019. For more videos from the conference, please visit this page. This series is sponsored by 4INFO.
