Data-driven advertising means the use of automation, AI and machines to mechanize and scale the delivery of messages or messages to customers on a 1-to-1 level. It takes any data you have about customer behavior into account and applies it to more meaningful interactions.
What is data-driven advertising?
Data-driven advertising is when you have a certain goal and are gathering all of the data you need to reach that goal. From that point, you can start to optimize your media, video, and display campaigns to get you to your goal. Data-driven advertising combines the audience data with your own internal data.
For example, if you want to reach new customers who are the exact same demographic as your current customer base, but who may have a different affinity for other products or certain advertising vehicles, then data-driven advertising is for you. You can also use data to measure customer churn. How do you apply data-driven advertising to your business?
Why use the Data Advertising method?
According to Madison Ave Media, “It delivers better results for customers. It’s an environment where delivering highly personalized messaging enables brands to engage with the customer in a way that is relevant to him or her, thus improving the overall brand experience.”
A one-to-one relationship means you are engaging with a potential customer or customer lead on a personal level that caters to his or her needs, as opposed to a one-size-fits-all campaign that offers general information about your company.
For example, you might have multiple products in your product portfolio that consumers are interested in purchasing. You could place advertisements for each product across different digital platforms to ensure your ads are seen by the most appropriate customer.
How to integrate data-driven advertising into your marketing strategy
When it comes to using data-driven advertising in your marketing strategy, it’s key to first identify which messages to put out there and when. The first step is to collect, filter, and organize the data you’ve received and used. Once you’ve pulled that data together, then you can start using it to find the right messaging to engage your target market. The next step is to refine that message for your customers. Once you’ve developed your messaging, it’s time to do a test run. This is where you’ll determine which message is going to be most effective at engaging your target audience, and it’s important to check the metrics that you will be measuring to see whether the ad was effective. You can find the metrics that will work best to measure the effectiveness of your ads by using SEMrush.
How to measure success with data-driven advertising
Marketing has always been and will continue to be a numbers game. How many transactions you deliver a day, the average number of users on your site, the average amount of time spent on your site – these all play a huge role in how you measure your success. Facebook vs. Google: Which Data Is Better? Google Analytics and Facebook Analytics are similar, but also different. Google Analytics provides a more holistic view of how your site and your audience interact. Facebook provides the ability to customize content that is surfaced in search results. One might say that the more personalized the content is, the better it is at boosting conversions. The importance of measuring the impact of your marketing can’t be overstated.
Conclusion
So, what is the “right” price for customer acquisition? Right now, it depends on who you are talking to, the process you are using, and what your goals are. Data-driven advertising represents a move away from cookie-cutter approaches, and it opens up the possibilities for growth and engagement for companies and their customers.