Online channels have expanded the marketer’s tool kit and as a result, brands have immersed themselves in consumers’ day-to-day lives. According to our Digital Connections research, 80% of European consumers think the internet is a great place to find new brands, but more than half of consumers think there is too much choice available. With so many brands competing for consumers’ attention, marketers need to ensure they are reaching the right people, at the right time and on the right device.
To help marketers quickly and accurately find new customers in an increasingly complex marketplace we have launched a new solution, TD ENGAGE, which works by combining data with machine learning and advanced programmatic targeting.
TD ENGAGE finds and converts new customers
- Understand the market: tracking one billion affiliate transactions every day over 17 years has provided us with a wealth of data to analyse. From this data we know a lot about online buying behaviour and have a deep understanding of consumer profiles in European markets.
- Find customers: using this collection of data our tool listens to your website traffic to gain an understanding of your current customers and combines these learnings to identify your perfect next customer — people you have never advertised to before, but who we know are likely to be interested in your brand.
- Reach new customers: using our network of European media connections TD ENGAGE can target identified consumers with relevant and personalised programmatic advertising.
- Convert customers: effective ads drive new customers to your site who have a high likelihood of converting.
Identifying and acquiring new customers has always been a costly challenge for marketers. We all know the adage that it costs more to acquire a new customer than it does to retain an existing one. But customers have a life cycle and all businesses need a new customer pipeline — ideally one they alter the flow of when necessary. What if the cost of acquiring new customers, was comparable to the cost of a sale generated from an existing customer?
Beta client results are in
A number of leading brands in the UK and Germany trialled TD ENGAGE before it launched. The results are more than promising. Using A/B testing we compared our TD ENGAGE technology with manually optimised campaigns to see if our machine could outperform humans. The numbers speak for themselves. Not only did click through rates and conversion rates increase by more than 100%, the cost of acquiring a new customer dropped by 80%.
It is clear from our Digital Connections research and beta testing results that when consumers are targeted with the right ads this type of online marketing is welcomed. However, it’s worth noting that although consumers are receptive to the right ads, marketers that get it wrong are doing damage not only to their budgets and their KPIs, but to their long term acquisition funnel — 49% of people reject brands that send them irrelevant or too many ads.
To remain competitive and cut through the noise in the marketplace, advertising needs to be both contextually relevant and personal to secure the sale and to maximise ROI. ENGAGE is solving problems. With so much data to process, brands need to harness machine learning to navigate their way through this complex, emotive landscape, to ensure that they engage with the right customers in the right way — leaving a positive brand impression.