Build an intelligent agency in 30 days + The groundbreaking growth of retail media

This week we are taking a slightly different angle with our LinkedIn newsletter. Instead of offering full feature articles like we usually do, we have extracted key learnings instead (with some help from AI) with the option to read the full feature on our websites (always 100% written by humans). So we'll keep things short and snappy on here this week. Let us know what you think. Happy reading, Herman

[MarkLives] Build an intelligent agency in 30 days: data analytics for adland

In the realm of marketing and advertising, data often feels like a necessary evil rather than a strategic asset. Ryan Sauer ’s article delves into a critical disparity: while creativity drives the visual and conceptual aspects of campaigns, it's data analytics that will shape the future of agency success. Here’s a breakdown of how agencies can shift from simply managing data to leveraging it as a competitive advantage:

1. Data as a Strategic Asset: Contrary to popular belief, data isn’t inherently dull—it’s the key to unlocking actionable insights. Agencies traditionally view data analytics as a perfunctory task, but it should be integral to their strategy. The real value lies in transforming raw data into insights that drive decision-making. Agencies need to evolve from producing mundane reports to delivering real-time, actionable analytics that reflect campaign performance and optimization opportunities.

2. The Competitive Edge of Analytics: Agencies that excel in data analytics will find themselves at the core of client relationships. It’s not just about reporting past performance but about harnessing data to anticipate trends and refine strategies. The future of agency-client dynamics will hinge on the ability to provide insightful, data-driven recommendations rather than just compliance with reporting requirements.

3. The Role of Artificial Intelligence: AI is reshaping the landscape of marketing, but its effectiveness is deeply rooted in the quality of data it processes. Agencies must augment generative AI with their proprietary data to create unique, impactful outputs. This integration of AI and data analytics will become a critical factor in distinguishing leading agencies from those that struggle to keep pace.

4. Talent and Data Analytics: Many agencies misallocate their talent by assigning them mundane reporting tasks instead of focusing on high-value creative and strategic work. Specialised roles should be dedicated to data analytics to avoid burning out creative professionals and to ensure that reporting is handled efficiently by those with the right expertise.

5. Defining an Intelligent Agency: An “intelligent agency” is one that integrates data analytics into its core operations. This means setting up dedicated functions for data intelligence, unifying and visualizing data across clients, and using this information to drive strategy and action. Agencies must transition from siloed reporting to comprehensive intelligence functions that provide real-time insights and facilitate strategic decisions.

6. Implementing Data Intelligence: The transition to a data-driven agency involves several key steps:

• Mandate: Appoint or hire a dedicated data intelligence role.
• Identify: Assess and expose all existing data within the agency.
• Unify: Consolidate data into a central, accessible repository.
• Visualize: Create meaningful dashboards for clients and internal use.
• Act: Use insights to drive actionable strategies.
• Measure: Track the impact of changes to refine strategies continuously.

Conclusion: As AI continues to evolve, the ability to translate data into actionable insights will define the most successful agencies. By prioritizing data intelligence and integrating it deeply into their strategies, agencies can not only enhance their current capabilities but also future-proof themselves against industry disruptions. The intelligent agency of tomorrow will leverage data not just to report on performance, but to drive innovation and strategy, ensuring relevance and competitive edge in an increasingly data-centric world.

Find the complete feature here.

Ryan Sauer is the CEO of Redwood Analytics, a marketing analytics firm that helps agencies and brands with dashboards and reporting. He also lectures the MBA at Wits Business School in digital performance marketing and is the author of an IMC textbook published by?Juta.

Make sure you never miss an issue of MarkLives. Join 6000 of your peers and subscribe for free.

[MarkLives MEDIA] The groundbreaking growth of retail media: Shoprite’s digital leap and the South African market's evolution

Retail media is experiencing a seismic shift, with Shoprite exemplifying this transformation. In a mere five years, the grocery giant has pivoted from traditional brick-and-mortar operations to establishing itself as a formidable digital media agency. This rapid evolution is a testament to the dynamic growth within the retail media sector, which, according to GroupM’s 2024 Global Midyear Advertising Forecast, is on track to outpace other digital advertising segments, including search, television, and digital display.

1. Data-Driven Growth Engines: At the heart of Shoprite’s success is its strategic use of data to create a self-sustaining growth engine. The company’s collaboration with Loop and the launch of innovative initiatives like the Sixty60 app and Xtra Savings program have solidified its position. Sixty60 alone boasts 4.5 million downloads and contributes R10 billion in annual revenue. The Xtra Savings loyalty program, with its 29.4 million members, provides invaluable data that powers Shoprite’s Rainmaker Media, a precision retail media agency.

2. Precision and Personalization in Advertising: Rainmaker Media exemplifies the future of targeted advertising by leveraging vast amounts of customer data to minimize marketing waste and enhance campaign effectiveness. With 82 million shoppers reached monthly and 4,654 media campaigns completed in the last fiscal year, Rainmaker Media demonstrates how integrating advanced analytics and personalized messaging can drive significant results.

3. Navigating the South African Market: The South African retail media landscape is on an upward trajectory. Research indicates a surge in online retail, projected to grow from R71 billion in 2023 to R100 billion by 2026. The informal market, valued at R164 billion annually, represents a vast, underutilized opportunity for brands. Shoprite’s Sixty60 initiative aims to tap into this segment, further showcasing the retailer’s commitment to data-driven growth.

4. Contrasts in Retail Strategies: While Shoprite capitalizes on its digital transformation, competitors like Pick n Pay are struggling. Pick n Pay’s strategy faltered, leading to a significant financial loss and a loss of key partnerships, such as Discovery Vitality’s shift to Checkers.

5. Future Prospects and Innovations: Looking ahead, the role of artificial intelligence (AI) in retail media will be crucial. AI’s potential to optimize creative content dynamically, tailoring messaging to individual customer preferences in real-time, could redefine the landscape of digital advertising. Tanja de Korte from Rainmaker Media anticipates that retail media networks could secure a 10% share of ad spend in South Africa, marking a multi-billion rand growth opportunity.

Conclusion: Shoprite’s remarkable journey from a traditional retailer to a digital media powerhouse illustrates the transformative power of integrating data, technology, and innovative strategies. As the retail media sector continues to expand, the ability to harness and leverage customer data will be pivotal in driving growth and success. Retailers who embrace this data-centric approach will not only stay ahead of the curve but also set new benchmarks in the rapidly evolving advertising landscape.

Find the complete feature here.

Charles Lee Mathews?is a contributing writer to?MarkLives MEDIA?and?MarkLives? as well as co-founder of?The Writers, a writing?consultancy.??

ID, please

MarkLives & MarkLives MEDIA editor & publisher: Herman?Manson MarkLives chief production editor & ed-at-large: Simone?Puterman MarkLives MEDIA production editor: Jessica Ross MarkLives & MarkLives MEDIA contributing writers: Carey?Finn, Charles?Mathews Contributing designer: Jay Alan MarkLives columnists: Andrew?Miller, Anne?van?Rensburg, Charlie?Stewart, Dean?Oelschig, Gugu?Shabalala, Jarred?Cinman, Johanna?McDowell, Melusi?Tshabalala, Taazima?Kala?Essack, Tiffany?Markman, Veli?Ngubane Partners: Ramify.biz Ramify production: Lunga?Biyela Images: We thank Pixabay, Pexels and Unsplash for the use of their pictures for the majority of our featured?images.

Useful MarkLives & MarkLive MEDIA links: Subscription queries/FAQ ? About MarkLives ? About MarkLives MEDIA ? Submit news & opinion ? PR mailing list (for advance notice of features lists) ? Browse MarkLives articles ? Browse MarkLives newsletters ? Browse MarkLives MEDIA articles ? YouTube ? Facebook ? LinkedIn ? X/Twitter

Useful Ramify links: Agency search ? Brand partner search ? Service supplier search ? Browse all ? Register as?marketer ? Latest company news ? Facebook ? X/Twitter