Key takeaways for marketers from PI Live 2024

PI Live returned to the impressive Thames-side setting of Old Billingsgate in Central London, with attendees coming from far and wide to spend two days networking and listening to leading industry Thought Leaders discuss all things performance marketing, affiliate and lots more. The coveted event saw over 2,000 attendees and guest speakers from a variety of backgrounds gathering to discuss the most pressing topics currently being navigated by businesses. In this blog I look to unpack just a few of those key takeaways and topics.

Unsurprisingly, one of the hottest topics at PI Live 2024 was the use of AI within the industry. A rapidly developing technology that whether you like it or not is here, and here to stay. The general consensus was that AI can have a highly positive impact on many parts of businesses but whilst the technology continues to develop, there are still many functions that can only be effectively executed by humans.

Personalisation through AI: Personalisation is nothing new, however Gen AI can efficiently produce high quality personalised email copy, ad creative, web content and more based on a user’s browsing behaviour, purchase history and demographics. According to GroupM, 73% of consumers expect a better quality of personalisation as technology develops. Scott Kelliher, Head of Revenue at NewsBreak revealed during his ‘Unleashing the Power of AI for Performance Advertising’ session how NewsBreak had seen a 30% uplift in conversions when using Gen AI to build their full screen vertical mobile video content as well as personalised copy and creative.

Data analytics: AI will have the ability to analyse large amounts of data much quicker than we can currently, the question that was debated in the ‘Cage Fight: People Versus Machines’ session on Wednesday morning was can you trust AI to analyse the data effectively, does it ‘understand’ the data in such a way that will successfully shape future strategy. The conclusion from the judging panel was that it will be able to as they voted in favour of machines owning this task over humans in the near future to free up human time for other tasks. AI will also be able to execute enhanced A/B testing and experimentation using machine learning algorithms it can evaluate various copy, creatives and targeting options to quickly identify what resonates most with a target audience. Faster testing and optimisation can help refine strategy and deliver stronger results.

More than ever, we are seeing the crossover of the affiliate world and traditional brand partnerships. Like the affiliate model, brand partners benefit from working on a performance model whereby brands can find creative ways to maximise budgets and closely track results as opposed to paying flat fees for placements. This crossover is something of a reality check for the affiliate channel as traditionally affiliate marketing is transactional and confined to certain parameters i.e. specific commercials, limited data shared with partners and limited communication around the brands KPIs and how they can best be achieved.

This is a point that Pete James (CCO at BrandSwap) made a strong case for on Tuesday as part of the panel for the ‘Track to the Future: Affiliate Marketing Trends for 2025 and Beyond’ session. James spoke of the need for the affiliate channel to innovate by being more open about data with partners, be more collaborative and find flexibility outside of the traditional affiliate payment models. This innovation will be key with more partners collaborating directly, using flexible payment models, being more collaborative and open with their data sets, traditional affiliates don’t want to risk getting left behind.

One of the big topics at PI Live 2024 was the rapid continued growth of Retail Media. Some key stats around Retail Media:

• UK retail media hit £3 billion in just seven years. Social took 13 and search 17 years respectively.
• US retail media spending will grow 30% in 2024 (reaching a fifth of US ad spend).
• 75% off consumers use a retailer’s app or website whilst instore.
• 73% of consumers expect a better quality of personalisation within retail media touch points as technology develops.

Source: Econsultancy & GroupM

One of the big reasons for its rise is the diversity of channels and touch points which are now being amplified by technology. Retail media’s core channels include: audio, off-site display, off-site search, CTV, on-site search, on-site display and social. As GroupM’s very own Pedro Ramos (Director RDM Strategy – Openmind) touched on during his presentation ‘Retail Media Revolution: Redefining the Purchase Funnel’ retailers can now offer brands omni-channel marketing to promote their brand across a range of in-store and digital touch points, this mixed with the rapid rise of technology is seeing Retail Media boom and the channel is tipped to continue it meteoric rise into 2025. With this in mind, it certainly has to be considered as part of any marketing strategy in 2025 and beyond.

In summary, PI Live 2024 was full of great insight as to how brands can best use Performance, Affiliate, Brand Partnerships, Retail Media and much more to deliver great results. There was also unsurprisingly a strong emphasis on how businesses can best use emerging technologies and AI to help businesses thrive, ensure they are futureproofed and be ready for whatever comes our way tomorrow.

Mando are here to help your brand achieve more for less with brilliant brand partnerships – have a chat with one of our friendly team today by getting in contact with us!