How Science is changing advertising — Dr. Duane Varan // MediaScience

Founder and CEO of MediaScience, Dr. Duane Varan, wraps up the conversation about the science of machine learning in marketing. One of the main aspects of gathering consumer data is the ability to effectively analyze it for your success. And depending on your sector, your metrics and KPIs will be different. Today, Dr. Duane talks about how science is changing the advertising industry.

Show Notes

  • 02:12
    How technology is changing marketing
    Today, there are multiple ad formats for marketers to choose from. So instead of the one-size-fits all approach, ads can be tailored to meet your specific business needs.
  • 03:56
    Understanding the impact on media consumption
    We are consuming more media in a lot more ways today than before. And because of that, Brands need to do more to get and maintain their audiences attention.
  • 06:38
    Effective marketing measures for the B2B space
    Focus primarily on getting enough attention with your ads. Once you are getting enough attention, the other KPIs will start to fall in place.
  • 07:48
    Evaluating what works
    Figure out what type of attention youre getting. Pay attention to how people react to your ads in relation to your business goals.
  • 10:00
    How to look at the emotional reaction to your ad versus sales
    The reaction your users get is just as important as any sales that may come from the ad. Being able to analyze the emotional reaction based on brand goals will help you align your strategy.
  • 12:00
    The science of the why behind your marketing results
    This is how you will inform your larger strategy to help reinforce or build your brand. The value your audience gets from your brand is greater than the value from the product theyll buy.
  • 14:23
    Effective marketing
    Understanding your customer and what drives their behavior is integral to your success as a marketer. Companies like MediaScience use technology to make that process more accurate.

Quotes

  • "The biggest change over the past decade is that especially with premium advertising, like TV ads, etc, we've gone from a one-trick pony to a universe of infinite possibilities." - Dr. Duane Varan, Founder & CEO, MediaScience

  • "The ultimate job of course of marketing is to help promote sales, but that's too big an objective. You have to break that down into a strategy for how you're going to do that." - Dr. Duane Varan, Founder & CEO, MediaScience

  • “More attention is not necessarily better. But no attention is definitely fatal.” - Dr. Duane Varan, Founder & CEO, MediaScience

  • “So really once you go past the attention threshold, everything else now is going to be brand specific rather than generic.” - Dr. Duane Varan, Founder & CEO, MediaScience

  • “Whatever your product is, the portion of your value being delivered by your brand is far greater than the value delivered by the physical product itself.” - Dr. Duane Varan, Founder & CEO, MediaScience

  • “Branding is the real estate of the mind. And it's where you sit in a person's psyche ultimately. And you're not going to get that by the sales behavior.” - Dr. Duane Varan, Founder & CEO, MediaScience

  • “It's not enough to just have the sales data. It's not enough to just have the moving parts. You really need both of those to come together to get the full picture.” - Dr. Duane Varan, Founder & CEO, MediaScience

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