– James Milne,Vice President Business Development
Digital marketing is evolving at a rapid pace, so much so that marketers are struggling to keep up with the latest lingo, let alone best practices. While 2015 was all about big-data and programmatic, the performance marketing industry was accruing big-data long before it became a go to marketing buzzword. The problem with having all this data has been interpreting it in a meaningful way that provides digital marketers with actionable insights, namely because humans aren’t cut out for data manipulation on a large scale. Consequently, marketers have been collecting trillions of gigabytes of data without a clear idea of how they will harness these rows of numbers to improve marketing activities.
Programmatic was the misunderstood marketing sensation of 2015, shrouded in confusion and techie mystery. Despite the hundreds of WTF is programmatic articles published, marketers are still baffled by programmatic and too ashamed to say so. They therefore jump on the programmatic bandwagon, invest some budget (because that’s what everyone else is doing) and hope their boss doesn’t ask them WTF is programmatic?
Programmatic is great, it cuts out human workload and can be very effective, but it’s not as sophisticated or as complicated as many assume. Programmatic media buying works by inputting information about who you think your customers are, based on demographic and socio economic values. The problem is that this method is based on who brands think their customers are, or who they want their customers to be, not necessarily the customers that are going to help them hit their target KPIs.
You could argue that these days we’re pretty good at knowing who our customers are, we can even attribute a life time customer value to them. Fine, you know who your customers are, but what if you want new customers. How do you find them?
To-date, digital marketing has relied heavily on human expertise. There are number crunching tools that help measure campaign success by visualising andinterpreting marketing data, such as our business intelligence tool ADAPT, which enables marketers to make smarter decisions about where to invest their marketing budgets, based on the channels and type of ads that are most effective. There’s online customer journey insights that help marketers understand their customers’ online behaviour and all the time we’re collecting more data.
The question is, can we use the data we have in a smarter way to generate more sales and more revenue? This involves number crunching on a big scale and this is where artificial intelligence comes into play. We’ve built an AI machine that number crunches and learns who your customers are in order to find your next customers. The machine learns how they behave online, listening to your traffic and harnessing online user journey data to understand your consumers. By being this specific, we can predict the value of your future customers, the ones you haven’t even engaged with yet. We know where and when to advertise to them and how much you should invest in acquiring them.
By making smarter use of big-data and programmatic technologies we are able to deliver smarter digital marketing results, based on individual KPIs, such as number of sales, total order value or average order value.
Using intelligence from our AI machine we are working with selected beta clients to optimise their digital marketing budgets and compliment their existing performance marketing activities. If you’d like to find out more get in touch.