The big secret:Marketing is still difficultOr what no one wants to admit about technologyThere’s no magic potion for executing a successful marketingcampaign through digital channels. Technologies, such asSSPs, DSPs and RTB are already showing their limitationsSee blog post at http://thethingis.typepad.com David Levy Thought leadership for digital business email@example.com http://thethingis.typepad.com
Not all of them buy your products and servicesSome of them bought once but have not done so againSome like your advertising and have clicked on bannersSome come to your site to look at contentSome just browse
Most of your revenue comes from a small group, say 33%
Double revenue by doubling the audience, via SCALE • Once you get another “set” of customers, you should see a similar distribution of buying patterns • By doubling the audience, you have also acquired another 33% “slice” of buyers
Or convert more people into buyers via EFFICIENCY • Use CRM, offers and better data to stimulate purchase from those who hadn’t before • While the total audience is still the same, the “slice” of buyers has now doubled
Generally, companies have to make a trade off.Conventional wisdom suggests that doublingyour audience via scale--say through search ordisplay advertising—is easier yet wasteful thandoubling your audience via efficiency—say byexecuting a sophisticated data driven customerrelationship marketing strategy to cross-sell andup-sell your existing audience which is morecomplex
The solution: Technology to the rescue!The phenomena of real time bidding (RTB),supply side platforms (SSPs) and demand sideplatforms (DSPs) and a host of other alphabetictechnologies were supposed to allowmarketers to do both…first via efficiency,then through scale
First get efficient: Learn what motivates your audience to buyThrough testing, …apply those You have theyou can understand lessons to the rest insights and datawhat motivate of the audience, you need to convertthese folks to buy, and, Voila!... more browsers intothen… buyers...there’s your efficiency
Now Scale it!Apply algorithms, appended data and smartanalytics to acquire new audiences that are morelikely to buy your products and services.In other words, stop wasting your moneyattracting the people who merely browse.Only acquire the buyers…and get themevery time!
Point your rtb/ssp/dsp at more profitable audiences Media buying and selling technologies give you efficiency in buying at scale
One day, and soon!, you can be 100% efficient Machine: “Only acquire purchasing customers”
The things is…the audiences don’t scale Yikes! You’re only more efficient.
There is no magic potion, or technology Media buying and selling technologies help you manage your marketing portfolio
Manage your portfolio. You need to do it all! You need to raise awareness You need to get audiences at scale You need to be efficient You need to build relationships You need to be social