In the past..Presence in the community allowed bank branch managers and insurance agents to be indirect contact with customersto promote their product.This however, made the user experience include a lot of walking around banks and countless meetings. Now,In the advent of the Internet, users are able to compare fees, privileges and more,between various financial institutionswith theclick of a mouse.
The move online and the move away from the community along with the increased competition, has inevitably pushed financial services institutions to increase their investment in online advertising
In 2010 the financial services industry invested $2.7 billion in online display advertising, the highest investment out of any advertising channel
WHY?1stly it’s the Objective. Banking services = BA. Credit cards = DRWhat also is apparent is Credit Card companies are compelling users to respond to their ads and achieve the highest Conversion Rate and the highest Click Through Rate. Other segments tend to receive lower Conversion Rate and Click Through Rate.
The Internet allows users to compare fees with the click of a mouse, a process that in the past may have taken a lot of walking around banks and meetings with insurance agents. It also allows the competition between institutions to become national rather than regional. The move online, the move away from the community and the increased competition has all pushed financial services institutions to increase their investment in online advertising.The move has also changed the way the industry is communicating with consumers and marketing its product. Traditionally, presence in the community allowed bank branch managers and insurance agents to be in direct contact with customers to promote their product, this proves much harder when the product is an online service and your staff may be located in a different region or even in a different country.
When we ask our agency and advertiser clients what slows down the migration of budgets they typically point to the following main complexities:- Fragmentation of their target audience across destinations and platforms Challenging engagement due to different consumer behavior Difficulty and consistently measuring success and improving results
This is where we come in: - MediaMind is an end to end digital campaign management platform- MediaMind enables advertisers and agencies to: More efficiently reach their audiences across all digital media opportunities Engage with their audiences with impact and relevancy Consistently measure success and optimize results-The outcome – greater opportunity for advertisers and greater demand for digital media for the benefit of Eyeblaster and the entire industry
In 2009 Eyeblaster served over 270 billion impressions, for over 1400 agencies, on behalf of more than 8000 advertisers, in 50 different countries. Note the 50 different countries stat – we served INTO 50 different countries, not that we have a presence in each of the 50.
So what is our category of campaign management?Campaign management lets agencies and advertiser deliver effective campaigns throughout their lifecycleFrom designing the ad creative, planning and trafficking the media, to delivery of ads, all the way thru monitoring and analysis of the result dataIn order to enable and enhance these processes, we deliver the following benefits:We enable multiple ad formats and media channels from a central pointWe offer rich media and relevancy capabilities that maxmize consumer engagement…….The result – broad adoption…
MediaMind is built on a robust technology foundation that was built over 11 years to serve current and future customer needs:At the tope of our architecture is our customer-facing collaborative workflow covering all campaign aspectsThe bottom tier is our distribution layer that handles consumer experience across channels and devicesAnd connecting the two is our performance engine that translate campaign configurations to real time communication changesThe platform is built to maximize Modularity, Scalability and Openness to guaranteeIntegrated support for current and future needsHandling of largest opportunities by MediaMindEasy integration and collaboration with leading solutionsThe platform was built over 11 years to maximize opportunities for our clients and us. We have recently rebranded to name after the platform This investment in platform has created a barrier of entry for new comersfuture focusedScale of business
Amount of user time now spent consuming digital media
Marketers are still spending just 7.5 percent of their budgets on a medium consuming 30 percent of their audiences' time.http://www.imediaconnection.com/content/18504.asp
Barriers to online investment??McKinsey recently published a study of 410 marketing executives in retail, telecomm, technology, business services and energy. McKinsey reported that the primary barriers to online investment were as follows:Insufficient metrics to measure impact: 52 percent Insufficient in-house capabilities: 41 percent Difficulty of convincing upper management: 33 percent Limited reach of digital tools: 24 percent Insufficient capabilities at agency: 18 percenthttp://www.imediaconnection.com/content/18504.asp
Often a banners goes live with the hope, and crossed fingers, that it gets clicked on - this doesn’t have to be the case. Users can retain the message advertisers are trying to deliver off the banner – if this is their objective (awareness) then the ad has done its job. However with no click to record, the ad is deemed to have been unsuccessful.
With many clients still fixated on CTR which is pretty low 0.1% , they overlook in entirety how their digital campaign is performing. Clicks are a small indicator of how much a user has retained. With online advertising having an edge which is engagement – we should exploit it to optimize upcoming campaigns focusing on what their audience really wants to know about their brand. A previous study by Eyeblaster Research has already shown that today’s consumers are 24x more likely to interact with an ad than click on it, and those that choose to do so engage with ads on average for around 43 seconds.
Studies show that we remember 30% of what we see, 50% of what we see& hear and up t0 90% of what we see, hear and touch.This is the advantage that online ads have. With rich media you can involve user with various aspects of a brand.
What sort of conversion are they looking for? and by conversions I do not mean sales – a conversion could be data capture, it could be brand engagement or it could simply mean product awareness.With the right foundation, mapping out creative concepts and strategies will be clearer.
<Click>The See>Click>Buy model of the consumer’s path to conversion has one fatal flaw. It isn’t true.The consumer, free to choose their own path along the way to conversion may choose any number to steps before buying.<Click>After Seeing, they may choose to Research, Click or Interact before buying.<Click>In actuality, the consumer’s path usually contains any or all of these steps, in any order.The only way to ensure that the consumer is receiving your Brand Message,
Sites / Affiliates – Search / Display – Last entry in path (impression / click)Give Precedence to clicks over impressions Last Click in the path (disregard Impressions)
Let’s take a minute and discuss why an Agency would need 1 tracking system<CLICK>As the consumer travels along their path to conversion they encounter any number of Search and Display ads. <CLICK>However, with Search and Display managed separately, each channel requires its own tag, <CLICK>both tags then report the conversion to their respective channel.The result? 1 Conversion, Counted Twice.<CLICK>With Eyeblaster’s universal conversion tag,<CLICK>the conversion is reported only to the last channel visited prior to conversion.<CLICK>The more accurate your data, the more powerful your decision making.
MediaMind Gives you de duplicated cross channel data that you pull from one system, not 2 or 3 or even 4 and work in excel for a week to get to where its useful. All your campaigns working hand in hand as opposed to or arguing who gets credit for what… building a brand experience. When your campaigns in market do they benefit from other campaigns, placements, channels, etc? MediaMind has the answer
3 categories of subjects that we plan to talk about today…
This is how we think about it. An integrated platform that uses data to optimize both media and creative.The more you use it the better it gets (more data, better optimization).In a cross channel platform – the more campaigns you run in display, search, mobile, social media - all help to make your media buying, media optimization , creative optimization and targeting, better. And helps you respond faster to the feedback from your audience.