John Readman runs Ask Bosco, which helps brands and agencies by integrating data from various sources, providing an AI dashboard for easy data interrogation, and benchmarking against competitors. As John explains, Ask Bosco was set up four years ago to address the “triangle of mistrust” between brands, agencies, and ad platforms, and to provide a more cost-effective and user-friendly AI marketing analytics and reporting platform.
John and I discuss pressing challenges faced by digital marketers today, including the challenges of media elasticity and the impact of competitors’ actions on ad spend. John emphasizes the importance of using historical data to optimize marketing budgets and the need for brands to build trust and awareness through top-of-funnel marketing. Our discussion touches on the implications of privacy regulations and the future of targeted advertising and explores the roles that AI and human capital will likely share as the digital ecosystem continues to evolve.
Discussion topics include:
- How market elasticity affects the cost of media, making it more expensive to buy more of the same media, and how this complicates forecasting and budget allocation.
- How Ask Bosco uses two years of historic marketing behavior and spend to model the optimal point for investment, considering cost versus revenue.
- The importance of understanding the acceptable cost per acquisition or cost of sale and how many businesses still rely on last-click attribution models.
- The challenges of dealing with the increased “black boxing” of ad platforms and the need for better first-party data models.
- The tension between the advertising industry’s desire for targeted ads and government interests in protecting privacy, noting the potential negative impact on ad quality and yields.
- Why brands should focus on logged-in first-party experiences to maintain some level of targeting and data collection.
- The potential for new advertising channels and platforms, such as TikTok and AI-based platforms like ChatGPT, to emerge and capture a share of media spending.
- The importance of creativity and human capital in developing effective marketing strategies, despite the increasing reliance on AI and automation.
- How data can help in understanding customer behavior and preferences, allowing businesses to create targeted campaigns that resonate with their audience.
- The importance of staying informed and agile in response to changes in the market, including the emergence of new channels and regulatory developments.
