Conversations from Cannes Lions: Doug Rozen & Ad Age on Holiday 2024 & Relevance
Creativity was in full force in the Côte d’Azur last week. We had the privilege of being a part of the Cannes Lions International Festival of Creativity, where Douglas Rozen, Chief Marketing Officer of Rokt, sat down with Ad Age’s John Dioso to discuss the 2024 holiday season and its expected $1 trillion in sales, the Paradox of Choice, and the importance of relevance.
The holidays are heating up
Twinkly lights and pretty bows might not come to mind when you think of the beachy backdrop and palm trees in Cannes, but our time there says otherwise. Doug Rozen shared five of the biggest shifts to look out for in the upcoming holiday season.
- Seamless payment options are driving more flexibility: One of the most significant trends this holiday season is the evolution of payment options. With the rise of buy now, pay later (BNPL) services and alternative currencies, shopping has never been more frictionless. These innovations make it easier for consumers to purchase what they need, when they need it, enhancing the overall shopping experience.
- AI-driven personalization: Advanced AI analyzes consumer behavior and preferences, delivering highly targeted holiday shopping offers. This ensures that the deals shoppers see are tailored to individual tastes and shopping habits, making holiday shopping more efficient and enjoyable.
- The emergence of ‘Black Fall’: Traditionally synonymous with post-Thanksgiving sales, Black Friday is expanding into a season unto itself—’Black Fall.’ Starting immediately after the back-to-school season, consumers can expect a surge of holiday promotions and early-bird deals.
- Giving as the new gifting: More consumers are prioritizing donations and charitable contributions as part of their holiday traditions. The spirit of generosity is taking center stage, with organizations making it easier than ever to incorporate giving into holiday celebrations.
Beyond the holidays: Personalization, relevance, and creativity
Douglas Rozen also explored other areas of the evolving ecommerce landscape. Here are some of the key takeaways:
Differentiating Personalization vs. Relevance
Since ecommerce began, marketers have been seeking to get the right ad to the right person at the right time. But Rokt focuses on delivering the best ad at the best time. The difference between “right” and “best” is also the difference between “personalization” and “relevance.”
Overcoming the Paradox of Choice
In today’s digital age, the abundance of data and technology has led to an overload of choices for consumers, posing the Paradox of Choice. Marketers can mitigate this by prioritizing relevance, ensuring that every interaction in the customer journey is purposeful and streamlined.
The moment that matters most
The moment customers hit “buy” is one of the happiest moments of the customer journey. That’s why at Rokt our core focus is engaging with customers during the Transaction Moment to maximize the experience for the customer, ecommerce partner, and premium advertisers.
Measuring success: Understanding what an outcome can be
There’s nothing more valuable for advertisers than being able to measure outcomes. Historically, traditional CPMs such as ROAS (Return on Ad Spend) and CPM (Cost Per Thousand Impressions) have been used to show success. Because Rokt understands that advertisers want to understand the value from their outcome, we close the loop and focus on metrics like CPC (Cost Per Click) and CPA (Cost Per Acquisition). This allows advertisers to directly link campaign investments to tangible business results.
Balancing AI and creativity
While AI and machine learning play crucial roles in optimizing customer interactions, creativity remains essential. Rokt emphasizes the power of simplicity and sophistication in marketing approaches, believing that minimalist strategies can often yield the most impactful results.
This year’s Cannes Lions provided a wealth of insights and inspiration, from holiday shopping trends to the evolution of marketing strategies. We’re ready to carry the lessons we learned into the second half of the year. For more insights and a deeper dive into these topics, read the full article on Ad Age.