As a digital marketer, you are probably struggling with the rapid, continual changes in how you do your job. This keeps a lot of people up at night. I am hoping this presentation will give you better insight into the state of BT, and how you can leverage data to make better marketing descisions.
In this presentation, we will discuss: -- The state of audience targeting -- How data plays a pivotal role in digital marketing -- How the role of an agency is changing -- How you should be thinking about attribution modeling
-- You can ’t have BT without audience targeting -- Audience targeting is, simply, buying the audience instead of the sites they are on -- This concept has driven a sea change in our industry over the last five years
-- Kawaja’s “Parsing the Mayhem” IAB speech -- In this slide, most of the 290 companies were born from audience targeting -- DATA is the key. The “sciencification” of media has changed everything. -- Agencies disintermediated by DSPs -- Publishers disintermediated by networks and exchanges -- A -- with all of this technology, can you actually do real BT?
-- Kawaja points out that value of an ad goes from $5 to $1.80! -- Is all of that technology in the middle worth $3.20?
-- Let’s look at all of the data driving audience targeting, and what they know about us.
-- Many people are worried that 3 rd party data companies know TOO much about us -- I think the industry has to strike a balance between showing people relevant ads – and spooky behavior -- Entire BT industry would disappear if browsers changed their technology to opt in!
-- The purchase funnel shows what stage people are before they convert: -- Brand Awareness: Seeing a few 300x250 banner ads and recognizing the brand -- Engagement: Watching an in-banner video, performing an index search -- Discovery: Visiting the site, -- Consideration: Researching similar products/companies; comparison shopping -- Selection: Adding product to shopping art; phone call; form fill-out -- Sale!!! In BT, we follow the user around. When you have searching JFK to SFO three times in a week, you become an “in-market travel intender”
-- There are LOTS of companies out there that have LOTS of excellent data. -- Over the past 18 months, I have struck over 30 different vendor relationships with vendors -- Some of them leverage and repackage widely available data… -- Some have a truly differentiated approach. -- Let’s look at some of the options out there for audience targeting
-- Retargeting also works from leveraging a cookie pool. -- When people visit a site, a cookie ids dropped. -- When you give a DSP your cookie pool, they can find your site visitors anywhere on the web -- That’s why you suddenly see lots of car ads as soon as you leave an auto site
-- Retargeting is just one of those guaranteed performers -- You are reaching people much further down the purchase consideration funnel -- Those people are a self-selected group that have raised their hand to learn more -- They are known to convert at rates of 5X-10X the average viewer found ROE
-- A word on click and view-based analytics: -- They can be deceptive -- Clickers are generally lower income and will “click on anything” (Low conversion) -- Make sure you have an ad server that can provide attribution on view-throughs More importantly, KNOW your AUDIENCE. Here’s how audience analytics can go beyond clicks and views….
This is one of our clients…a major mattress retailer with an online store. We work closely with Aperture (PulsePoint) to find out who is seeing our ads, clicking on them…and buying matresses.
The first thing we found out was that we were serving most of our ads to 56-65 years olds But our conversions were coming primarily from 18-45 year olds. Some of the news sites we were buying on were skewing older than advertised. During optimization, we reallocated budget to sites that proved younger (more mobile people = moving = matress sales)
The last demographic we were buying against was length of residence. We know that users purchase their mattresses every 7 years and this data from Aperture is confirming it. Serving impressions to people living in home for 4-6 years but Aperture showed more purchases for people in their home for 7-10 years and over 14 years
Everywhere we bought on that overindexed against a long length of residence, was successful.
We were also serving most of our ads to home owners, When it turned out that RENTERS were converting at higher levels
We adjusted out buy to skew to RENTERS
BUT we found out that some renter sites actually were composed of more home owners! IT ALWAYS PAYS to double-check that the promised audience is being delivered! With these insights, planning the next campaign became simple…and started at the level of effectiveness the first campaign ended with.
So, what is the new role of the agency?
-- Agencies spend the bulk of their time doing really thoughtless work -- Clients expect them to make sense of the Kawaja slide -- They want them to be technology integrators! – Isn’t that a job a McKinzie consultant, or an Oracle, or an IBM? -- Agencies need to turn back to CREATIVITY (telling a great story) STRATEGY (telling it the right way, on budget) and IMPLEMENTATION (telling that story the most effectively, for the least money, with the most customer insights).
Today, Internet ad tracking systems are predominantly the same legacy systems from the late 1990s. The problem with these systems: They erroneously give 100 percent credit for a transaction to the last clicked Internet ad, or the last viewed Internet ad. No credit is given to ads that create or cause a purchase and consequently no credit is given to actual revenue drivers.
&quot;Last click&quot; is the problem that attribution modeling solves. In short, attribution modeling is the process by which fractional credit is assigned to ads bought by online advertisers at a transaction level.
In this example, you can see that, while 31% of users clicked an ad to get information, fully 27% typed a search query into Google. If you are looking at last click, you are missing most of your attribution data!
In this example, display was involved in 81 percent of the conversions, yet only credited on 61 percent of the conversions won; it also influenced 52 percent of the paid search-credited conversions.
Once you start using an attribution model, the biggest pitfall is making media decisions before an adequate amount of time has passed.
Behavioral Targeting & Remarketing Chris O ’Hara SVP, Sales and Marketing @chrisohara
HOW TO USE THE MOST MEANINGFUL ANALYTICS TO OPTIMIZE CAMPAIGNS AND WHAT TOOLS DO YOU USE FOR SUCCESS? HOW HAS DATA DRIVEN MARKETING SHIFTED THE ROLE OF THE AGENCY/ADVERTISER? HOW TO EVALUATE AND APPLY ATTRIBUTION MODELING? WHAT IS AUDIENCE TARGETING AND HOW DO YOU CHOOSE THE RIGHT DATA PARTNER?