The tense wait for Apple’s App Tracking Transparency (ATT) feature to finally go live is now over. This means that app publishers and advertisers can stop dreading what the novel privacy feature will mean for the future, and start coming up with creative solutions to deal with the industry-estimated ATT user opt-in rate of approximately 10%.
The Future of Advertising in Applications
The following are some of the ways publishers and advertisers can think about pivoting their strategy, so they aren’t hit so hard by the looming IOS user data drought.
Rewarded Video Will be the Next Creative Frontier
By the end of 2022, 79% of advertising will be consumed through video, so a lot of attention should be paid to the rise of rewarded video implementation into non-gamified apps.
Rewarded video gets the highest cost per thousand impressions (CPM) because the ad is viewed for its entire duration in exchange for a specific tradeoff. Right now, rewarded video is something almost specifically associated with gaming apps – but a seismic shift is about to occur.
The most famous usage of rewarded video by a non-gaming app might be Spotify, which has been using it for years to provide a half-hour of ad-free music to their non-premium users in exchange for watching a short video.
It’s foreseeable that apps that provide live streaming coverage of time-limited events might quickly apply this interactive model of running video ads. Users live-streaming a sporting event, for instance, might be offered the chance to watch a suite of ads from a major sponsor before beginning their streaming service to unlock access to better camera angles of the event – like a camera mounted on the end of a surfboard, or a drone’s-eye view of a football match.
Catalog apps for companies like IKEA
Another application could involve catalog apps for companies like IKEA. For example, large multinational consumer goods retailers like IKEA could partner up with a grocer like Lidl around the rewarded video so that when browsing one app, you can watch a video and be rewarded with a digital coupon for your next purchase at the partner business.
These sorts of partnerships stand to become extremely lucrative ways for publishers to collect additional customer data as well by integrating a short survey, or by adding an option for consumers to receive an additional discount by providing their email address.
Adspace Will be Molded to Fit User Habits
The pandemic shaped how users consume information on their mobile devices forever by creating the first global remote economy. Moreover, it accelerated the trend towards a world lived through our mobile devices. This is the future vision that publishers should focus on when they begin innovating new formatting products where ads can be placed.
Many new products will be designed and implemented to take advantage of trends like how the average Indian millennial spends roughly a third of their waking hours (1800 hours per year) glued to their smartphone.
One way that publishers might capitalize on this statistic, in particular, is by including things like ‘open’ and ‘close’ ads. These types of ads would be displayed on the loading screen as the app loads, or attached to an ‘Are you sure you want to exit?’ message upon closing.
Build for Android, Sell to the World
Publishers should note a recently published comprehensive report by FinancesOnline, which estimates that the three billion Android users outnumber iPhone users by more than three to one globally. Thus, if ATT solidifies IOS as the operating system of exclusivity and privacy, it also solidifies Android as the operating system of widespread market access.
Every company that makes smartphones has released less expensive options than even the cheapest iPhone. However, in an attempt to secure a growing global audience and wrest away future IOS users by building brand loyalty while offering increasingly expensive innovative models like Samsung’s Galaxy Fold, Apple’s competitors have well-established themselves in the developing world. Publishers and advertisers should be aware of this and think about shifting their efforts to target users of the more popular operating system on a larger scale.
Selling smartphones in developing countries.
Developers and advertisers can capitalize on the growing adoption of smartphones in Sub-Saharan Africa and pay particular attention to regional trends, like the widespread popularity of edtech apps. According to a report by Google, another thing to consider is mobile usage in Southeast Asia, which is the highest in the world.
The cheapest iPhone that Apple currently offers – the iPhone SE – is still far too expensive to compete against the kinds of phones companies like Nokia, Samsung, and Google sell to consumers in developing countries. With that in mind, developers should research what sort of apps are popular in places where smartphones are just now starting to make a widespread appearance.
This goes especially for app companies whose efforts to monetize their products for IOS have now been thwarted by ATT – like hyper-casual game developers, for instance.
“Sign-In to Unlock Exclusive Features”
Only in the coming months will developers and advertisers be able to assess the full scope of the changes IOS14 will make to their marketing strategies, how they track users, and how much data is still available to them from people who use Apple products.
Until then, publishers will start looking at ways of acquiring user data for themselves – possibly by building their own first-party identifier, similar to website cookies. Premium apps will likely also begin to implement ways of getting users’ email addresses when they download the app so publishers will have a user database they can then sell to advertisers.
Of course, not all users will be interested in giving up their personal email addresses without some sort of incentivization, so a reward system that offers users premium services or a piece of exclusive content that they would normally have to pay for could entice them to opt-in.
Tracking the consumer
If users can be incentivized into providing their email address, publishers can then track how many times the user opens the app, what they spend their time doing in the app, and how long they spend doing certain things in the app. These data can then be presented as a deck of information and offered to advertisers accordingly.
An app that sells used cars, for instance, might sell a suite of information about users who spend most of their time on the app looking at Mercedes-Benz’s to appropriate car dealerships located within a certain radius of the user’s geotagged location.
A new chapter begins
Apple users represent the kind of premium user that publishers want to get the attention of, so it makes sense that the death of personalized ads on IOS represents a horrifying prospect. However, the ad-spend money that once went into creating personalized, targeted ads isn’t going to evaporate – it will instead shift into new ways of working until the best solution is found.
This will likely include ads that utilize incentivization to get users to watch a piece of content or provide their email addresses. Developers will draw upon the valuable insights of large-scale user trends to realize new formatting products for advertisers – such as open and close ads.
The big shift for advertisers
The next big shift for advertising on the web and in-app will involve the emerging markets and a possible pivot to publishers spending more to target Android users. And as developing countries get access to better phones that can show ‘rich media’ (video), publisher monetization options are set to grow.
Finally and most importantly, the majority of time Americans spend on their mobile devices is taking place in apps, and that’s where we see the future as being very bright.
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How Alternative Data is Changing the Finance Sector
Alternative data has been touted as the future for various companies. Financial services companies have taken a particular interest in the field as it has the potential to either provide completely novel signals or improve existing investment strategies.
However, understanding the scale and importance of alternative data has always been challenging as businesses in the sector are often shrouded in mystery. Investing is extremely competitive as alpha often depends on the signal strength other companies can acquire.
Now, however, the veil has been lifted, even if slightly. Finally, there is enough data to understand how far alternative data and web scraping have entrenched themselves into the industry, allowing us to understand their importance.
What is alternative data and web scraping?
Alternative data is a negatively defined term meaning everything that is not traditional data. The latter is considered to be everything that’s published regularly according to regulations, government action, or other oversight. In other words, it’s all the data from statistics departments, financial reports, press releases, etc.
Since alternative data is defined negatively, it’s every information source that’s not traditional. While the definition is somewhat broad, alternative data does have its characteristics. Namely, it’s almost always unstructured, comes in various formats (i.e., text, images, videos), and often is extracted for a highly specific purpose.
Data acquisition is significantly more complicated because both the sources and the formats are varied. Data as a Service (DaaS) businesses can resolve most of the acquisition issues; however, finding one that holds the necessary information can be complex.
Web Scraping and in-house solutions in alternative data acquisition
Many companies turn to building in-house solutions for alternative data acquisition. One of the primary methods for doing so is called web scraping. In short, it’s a method of automating online public data collection by employing bots.
These solutions go through a starting set of URLs and download the data stored within. Most bots will also further collect any URLs stored on the page for continued crawling. As a result, they can blaze through many sources within seconds or minutes.
Collected data is then delivered and parsed for analysis. Some of it, such as pricing information, can be integrated into completely automated solutions. Other data, such as anything from which investment signals might be extracted, is analyzed manually by dedicated professionals.
Web scraping is shaping the financial services industry
As mentioned above, financial services and investment companies have taken a particular interest in web scraping earlier than nearly anyone else. These businesses thrive upon gaining an informational edge over their competitors or the market as a whole.
So, in some sense, it was no surprise when web scraping turned out to be a key player in the financial services industry. So we surveyed over 1000 decision-makers in the financial services industry across the US and UK regions to find out more about how data is being managed in these companies.
Image Credit: Oxylabs; Thank you!
While internal data, as expected, remains the primary source of insight for all decision-making, web scraping has nearly overtaken it in the financial services industry. Almost 71% of our respondents have indicated that they use web scraping to help clients make business decisions.
Web Scraping and Growth Tendencies
Other insights are even more illuminating. For example, while web scraping has shown clear growth tendencies, we didn’t expect 80% of the survey respondents to believe that the focus will shift towards it even more in the coming 12 months. Nevertheless, these trends indicate a clear intent to change the dominant data acquisition methods in the industry.
Finally, there’s reason to believe that the performance of web scraping is equally as impressive. There may have been reason to believe that the process of automated data collection is simply a byproduct of hype. Big data has been a business buzzword for the longest time, so it may seem that some of that emotion might have transferred to web scraping.
Implementing Web Scraping
However, those who have implemented web scraping do not seem to think it’s pure hype. Over a quarter of those who have implemented the process believe it has had the most significant positive impact on revenue. Additionally, nearly half (44%) of all respondents plan to invest in web scraping the most in the coming years.
Our overall findings are consistent across regions. As the US and UK are such significant players in the sector, the conclusions likely extend to global trends, barring some exceptions where web scraping might be trickier to implement due to legal differences.
The survey has only uncovered major differences in how web scraping is handled, not whether it’s worthwhile. For example, in the US, it’s rarely the case that compliance or web scraping itself would be outsourced (12% & 8%, respectively). On the other hand, the UK is much more lenient regarding outsourced departments (22% and 15% for outsourced compliance and outsourced web scraping, respectively).
While the way data is being managed in the financial services industry has been shrouded in mystery for many years, we’re finally getting a better glimpse into the trends and changes the sector has been undergoing. As we can see, web scraping and alternative data play a major role in shaping the industry.
Becoming the true first adopters of web scraping, however, I think, is only the beginning. Both the technology and the industry are still maturing. Therefore, I firmly believe we will see many new and innovative developments in data extraction and analysis in the finance sector, which novel web scraping applications will head.
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How to Implement a Splintered Content Strategy
Content makes the marketing world go round. It doesn’t matter what your overarching marketing strategy looks like – content is the fuel source. You can’t go anywhere without it. The biggest problem is that content can be expensive to create. We operate in a business world where thousands of pieces of content are created every single second. Trying to keep up can feel like an expensive exercise in futility.
The key to successful digital marketing in an era of saturated online channels is extracting maximum value from your content. If the traditional approach is built around “single-use” content, you need to switch gears and opt for a multi-use approach that allows you to leverage the same content over and over again. One way to do this is by building out a “splintered” content strategy.
What is a Splintered Content Strategy?
The best way to understand the splintered approach to content creation is via an analogy. In the analogy, you start with one core topic that relates to your brand and readers. This topic is represented as a tree. Then, when you want to get more value out of the tree, you chop it down into big logs. These logs represent sub-topics of more significant topics. These logs can then be split and broken down into even smaller niches. (And this process of splintering the original topic into smaller/different pieces of micro-content can go on and on.)
Content splintering is not to be confused with content republishing or duplication. The mission isn’t to reuse the same content so much as to extract more value from the original content by finding new uses, applications, angles, and related topics. Not only does this approach help you maximize your ROI, but it also creates a tightly-correlated and highly-consistent web of content that makes both search engines and readers happy.
What You’ll Need for a Splintered Content Strategy
In order to get started with creating splintered content, you’ll need a few things:
- Keyword research. The process always begins with keyword research. First, you need to perform detailed SEO research to zero in on the keywords that specifically resonate with your target audience. This feeds your topic selection and actual content creation. (You can think of keyword research as developing a blueprint. Just like you can’t build a house without plans, you can’t implement a splintered content strategy without keyword research.)
- General topic. Armed with the right keywords, you can begin the process of choosing a broad topic. A general topic is a very basic, overarching topic that speaks to a specific target audience.
- Content writers. You’ll need a team of people to actually create the content. While it’s possible to do this on your own, you ideally want to hire content writers to do the heavy lifting on your behalf. This allows you to focus on the big-picture strategy.
- Consistency. A splintered content strategy requires consistency. Yes, there are ways to automate and streamline, but you have to ensure that you’re consistently churning out content (and that the content is closely correlated).
A good splintered content strategy takes time to develop. So, in addition to everything mentioned above, you’ll also need patience and resilience. Watch what’s working, and don’t be afraid to iterate. And remember one thing: You can always splinter a piece of content into more pieces.
How to Plan and Execute a Splintered Content Strategy
Now that we’re clear on splintered content and some of the different resources you’ll need to be successful, let’s dig into the actual how-to by looking at an illustration of how this could play out. (Note: This is not a comprehensive breakdown. These are merely some ideas you can use. Feel free to add, subtract, or modify to fit your own strategy needs.)
Typically, a splintered content strategy begins with a pillar blog post. This is a meaty, comprehensive resource on a significant topic that’s relevant to your target audience. For example, a financial advisor might write a pillar blog post on “How to Sell Your House.” This post would be several thousand words and include various subheadings that drill into specific elements of selling a house.
The most important thing to remember with a pillar post is that you don’t want to get to micro with the topic. You certainly want to get micro with the targeting – meaning you’re writing to a very specific audience – but not with the topic. Of course, you can always zoom in within the blog post, and with the splinters it produces, but it’s much more difficult to zoom out.
Turn the Blog Post Into a Podcast Series
Once you have your pillar piece of content in place, the splintering begins. One option is to turn the blog post into a series of podcast episodes. Each episode can touch on one of the subheadings.
If these are the subheadings from the blog post, they would look like this:
- How to prepare for selling > Episode 1
- How to find a real estate agent > Episode 2
- How to declutter and stage your property > Episode 3
- How to price your property > Episode 4
- How to choose the right offer > Episode 5
- How to negotiate with repair requests > Episode 6
- How to prepare for closing day > Episode 7
- How to move out > Episode 8
Depending on the length of your pillar content, you may have to beef up some of the sections from the original post to create enough content for a 20- to 30-minute episode, but you’ll at least have a solid outline of what you want to cover.
Turn Podcasts Into YouTube Videos
Here’s a really easy way to multiply your content via splintering. Just take the audio from each podcast and turn it into a YouTube video with graphic overlays and stock video footage. (Or, if you think ahead, you can record a video of you recording the podcast – a la “Joe Rogan” style.)
Turn YouTube Videos Into Social Clips
Cut your 20-minute YouTube video down into four or five different three-minute clips and soundbites for social media. These make for really sticky content that can be shared and distributed very quickly.
Turn Each Podcast Into Long-Form Social Posts
Take each podcast episode you recorded and turn them into their own long-form social posts. Of course, some of this content will cover information already hashed out in the original pillar post, but that’s fine. As long as you aren’t duplicating content word-for-word, it’s totally fine if there’s overlap.
Turn Long-Form Social Posts Into Tweets
Your long-form social posts can then be turned into a dozen or more individual short-form tweets. Find the best sentences, most shocking statements, and most powerful statistics from these posts and schedule a series of automated posts to go out over a few weeks. (You can automate this process using a tool like Hootsuite or Buffer.)
Turn Content Into an Email Campaign
Finally, take your best content and turn it into a series of emails to your list. You may even be able to set up an autoresponder series that slowly drips on people with a specific call-to-action.
Using the example from this article, a real estate agent might send out a series of 10 emails over 30 days with a call-to-action to get a free listing valuation.
Take Your Content Strategy to the Next Level With Splintered Content Strategy
There isn’t necessarily a proper way to implement a splintered content strategy. But, like everything regarding marketing, there’s ample room for creativity.
Use the parts of this article that resonate with you and adapt the rest to fit your vision for your content. Just remember the core objective of this entire approach: content maximization.
The goal is to get the most value out of your content as possible. And you do that by turning each piece of content you create into at least one more piece of content. If you do this efficiently, you will be successful.
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Successful AI Requires the Right Data Architecture – Here’s How
For companies that can master it, Artificial Intelligence (AI) promises to deliver cost savings, a competitive edge, and a foothold in the future of business. But while the rate of AI adoption continues to rise, the level of investment is often out of kilter with monetary returns. To be successful with AI you’ll want the right data architecture. This article tells you how.
Currently, only 26% of AI initiatives are being put into widespread production with an organization. Unfortunately, this means many companies spend a lot of time on AI deployments without seeing tangible ROI.
All Companies Must Perform Like a Tech Company
Meanwhile, in a world where every company must perform like a tech company to stay ahead, there’s increasing pressure on technical teams and Engineering and IT leaders to harness data for commercial growth. Especially as spending on cloud storage increases, businesses are keen to improve efficiency and maximize ROI from data that are costly to store. But unfortunately, they don’t have the luxury of time.
To meet this demand for rapid results, mapping data architecture can no longer stretch on for months with no defined goal. At the same time, focusing on standard data cleaning or Business Intelligence (BI) reporting is regressive.
Tech leaders must build data architecture with AI at the forefront of their objectives.
To do otherwise — they’ll find themselves retrofitting it later. In today’s businesses, data architecture should drive toward a defined outcome—and that outcome should include AI applications with clear benefits for end-users. This is key to setting your business up for future success, even if you’re not (yet) ready for AI.
Starting From Scratch? Begin With Best Practices for Data
Data Architecture requires knowledge. There are a lot of tools out there, and how you stitch them together is governed by your business and what you need to achieve. The starting point is always a literature review to understand what has worked for similar enterprises, as well as a deep dive into the tools you’re considering and their use cases.
Microsoft has a good repository for data models, plus a lot of literature on best data practices. There are also some great books out there that can help you develop a more strategic, business-minded approach to data architecture.
Prediction Machines by Ajay Agarwal, Joshua Gans, and Avi Goldfarb is ideal for understanding AI at a more foundational level, with functional insights into how to use AI and data to run efficiently. Finally, for more seasoned engineers and technical experts, I recommend Designing Data-Intensive Applications by Martin Kleppmann. This book will give you the very latest thinking in the field, with actionable guidance on how to build data applications, architecture, and strategy.
Three Fundamentals for a Successful Data Architecture
Several core principles will help you design a data architecture capable of powering AI applications that deliver ROI. Think of the following as compass points to check yourself against whenever you’re building, formatting, and organizing data:
Building Toward an Objective:
Always have your eye on the business outcome you’re working toward as you build and develop your data architecture is the cardinal rule. In particular, I recommend looking at your company’s near-term goals and aligning your data strategy accordingly.
For example, if your business strategy is to achieve $30M in revenues by year-end, figure out how you can use data to drive this. It doesn’t have to be daunting: break the more important goal down into smaller objectives, and work toward those.
Designing for Rapid Value Creation:
While setting a clear objective is key, the end solution must always be agile enough to adapt to changing business needs. For example, small-scale projects might grow to become multi-channel, and you need to build with that in mind. Fixed modeling and fixed rules will only create more work down the line.
Any architecture you design should be capable of accommodating more data as it becomes available and leveraging that data toward your company’s latest goals. I also recommend automating as much as you can. This will help you make a valuable business impact with your data strategy quickly and repeatedly over time.
For example, automate this process from the get-go if you know you need to deliver monthly reporting. That way, you’ll only spend time on it during the first month. From there, the impact will be consistently efficient and positive.
Knowing How to Test for Success:
To keep yourself on the right track, it’s essential to know if your data architecture is performing effectively. Data architecture works when it can (1) support AI and (2) deliver usable, relevant data to every employee in the business. Keeping close to these guardrails will help ensure your data strategy is fit for purpose and fit for the future.
The Future of Data Architecture: Innovations to Know About
While these key principles are a great starting place for technical leaders and teams, it’s also important not to get stuck in one way of doing things. Otherwise, businesses risk missing opportunities that could deliver even greater value in the long term. Instead, tech leaders must constantly be plugged into the new technologies coming to market that can enhance their work and deliver better outcomes for their business:
We’re already seeing innovations making processing more cost-efficient. This is critical because many of the advanced technologies being developed require such high levels of computer power they only exist in theory. Neural networks are a prime example. But as the required level of computer power becomes more feasible, we’ll have access to more sophisticated ways of solving problems.
For example, a data scientist must train every machine learning model. But in the future, there’s potential to build models that can train other models. Of course, this is still just a theory, but we’ll definitely see innovation like this accelerate as processing power becomes more accessible.
Additionally, when it comes to apps or software that can decrease time to value for AI, we’re in a phase now where most technology available can only do one thing well. The tools needed to productionize AI — like storage, machine learning providers, API deployment, and quality control — are unbundled.
Currently, businesses risk wasting precious time simply figuring out which tools they need and how to integrate them. But technology is gradually emerging that can help solve for multiple data architecture use cases, as well as databases that are specialized for powering AI applications.
These more bundled offerings will help businesses put AI into production faster. It’s similar to what we’ve seen in the fintech space. Companies initially focused on being the best in one core competency before eventually merging to create bundled solutions.
Data Marts vs. Data Warehouses:
Looking further into the future, it seems safe to predict that data lakes will become the most important AI and data stack investment for all organizations. Data lakes will help organizations understand predictions and how best to execute those insights. I see data marts becoming increasingly valuable for the future.
Marts deliver the same data to every team in a business in a format they can understand. For example, Marketing and Finance teams see the same data represented in metrics that are familiar and – most importantly – a format they can use. The new generation of data marts will have more than dimensions, facts, and hierarchy. They won’t just be slicing and dicing information — but will support decision-making within specific departments.
As the technology continues to develop, it’s critical that businesses stay up to speed, or they’ll get left behind. That means tech leaders staying connected to their teams, and allowing them to bring new innovations to the table.
Even as a company’s data architecture and AI applications grow more robust, it’s essential to make time to experiment, learn and (ultimately) innovate.
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