There was a time when the difference between the digital medium and the traditional one was quite prominent. Marketers adopted a different approach to handle the consumer through varied forms of advertising strategies. Back to present times, the scenario has completely undergone a paradigm shift. Today, consumers have various tools to fulfill their purchase journey. This has resulted in higher expectations from buyers and clients. Ultimately, it ensures in providing smooth and reliable digital experiences. This way, the advertising strategy has played a significant role in this scenario.
In current times, marketing agencies cannot survive solely by following the orthodox approach of tracking the online activity of the brand and products, optimization of campaigns, and targeting specific audiences. On the other hand, it becomes imperative for the advertisers to maximize their opportunities and respond to the consumer in real-time across different channels to prioritize the conversions. Promoters do this by devising various strategies for data analysis, data collection, campaign optimization, and measurements by including all the marketing initiatives.
Even after implementing thousands of strategies, there are times when the campaigns do not produce desired results. With the help of this write-up, we have thrown light on different strategies and methodologies that every media buying agency needs to keep in mind while delivering the most competent media campaigns.
First-Party Data Collection Must be the Goal For Your Agency
There are loads of data sources available in the current time. The data sources would include first party, the second party, third party, transactional, offline, online and operational data to boost the marketing campaigns.
Note: First-party data is a piece of direct information that marketers have collected about the audiences.
Even though there are bundles of options available, it would be a smart decision to go for a first-party data source as it ensures reaching a maximum of consumers across varied channels in an efficient and appropriate manner.
Marketers are still Lagging in Benefiting from First-Party Data
Few marketers consider the first-party data for collecting information about the user intent and retargeting their initial campaigns. Despite all the fruitful potentialities allowed by the first-party data integration, many marketers don’t fully invest in this strategy for increasing their marketing scope.
Allow Conversions to Right Platform
Beyond creating a clever campaign, marketers must also utilize the first-party data to combine both online and offline data to drive conversions in the right place. This can be explained with a simple example. You might see one ad on multiple devices such as smart TV, mobile phone, and laptop. In this case, the marketers have promoted the product in all the devices to increase the chance of a lucrative sales. Ensure that you are eliminating those ads which are not reliable or as per the standards of various channels.
Tips for First-Party Data Strategy
According to one recent study, the data-driven campaigns that use first-party sources see profitable returns in a short time. To get started with the campaign, the marketers must undertake the data auditing of the company. Classify all the sources of the data and know-how they can be used in digital marketing mediums. It is also important to identify the gaps in data points. Once the gaps are known, marketers can also include third-party vendors to accomplish the ad targeting task. Both advertising and digital media teams have to implement the artifices of first-party data. The end result of this methodology will have a great impact on the financial return of the company.
Implement Machine Learning For Data Analysis
Agencies who are not investing in machine learning are losing ample opportunities to find a relevant solution to the old-age problem. There is no doubt that machine learning is providing an endless amount of granular data through which digital campaigns are highlighted and shared promptly.
Machine learning has been regarded as a complex theory from a very long time. But today, it is the most automated way to analyze the data as per the lifestyle of the current generation. Machine learning helps in determining the patterns of customer preferences, website friction, and targeting. Therefore, it would be easy to know the interest of the audience and their buying patterns.
Various eCommerce companies are leveraging machine learning to suggest products to consumers as per their purchasing behavior and browsing pattern. We can say that machine learning has remarkably changed the entire marketing process by simplifying the purposes of marketing.
Boost FaceBook Advertising
Facebook is used by 55% of the marketers, and it has more than one billion active users which shows that it is one of the best advertising platforms in the current time. When a marketer runs a Facebook campaign, they are more aware of the test assets, tweak ad copy, interest and choices of the target audience. Still, they fail to see the potential ROI. On top of that, proper measurements, targeting patterns, and ad testing are also required to enhance the performance of your Facebook ads.
Segmented Ad Targeting
In segmented ad targeting, the focus is given to those users and the prospects that are already familiar with the brand. For example; targeting through email or retargeting the audience through effective posts. By this strategy, the ad is never served to the inappropriate prospects. The marketers can also create ads as per the life-events, behavior, buying interest, and device usage of the target audience.
Clicks, engagement and comments are all major aspects of ad promotion. But they are not the larger picture that can give definite insights into real target and sales opportunities. It is essential to align your campaign metrics into a desirable goal. The cost per conversion, return on ad spend, and conversion rates must be taken into account while interpreting the results of the marketing campaigns. If you are not getting sales, then there is no point in having thousands of shares and clicks in the ad.
There can be loopholes in campaigns. Like your message might be failing to draw the attention of the target audience or the audience might not have an interest in your brand or services. Once you know what kind of campaigns are more successful, you have reached halfway.
Banner Campaigns Have the Potential to Produce Affirmative Results
Display advertising is one of the most ideal recipes for creating outstanding brand awareness, building trust, and generate ROI. If you want to grab the audience’s attention, the following things must be considered;
- It is important to select proper keywords and topics;
- Select those sites which are relevant to your brand or service;
- Serve ads to the users who are already familiar with your brand;
- It is an ultimate goal for marketers to choose the right landing page to find the unique audience;
- You can exclude the sites which have clicks but still not giving any desirable conversions;
- Not all brands can be promoted on mobile phones. Some may require both television and desktop branding. So the money should be invested on those channels where there are real-time and profitable returns.
The Ultimate Goal – Profitable Return on Investment
If you wish to reach the majority of the target audience through your campaign, your media buying agency in Melbourne must leverage up-to-date technologies and use tactics to spread the scope of the business. The next-level online marketing agencies must pay attention to the target audience, retargeting, know the impact of the campaigns, and must focus on optimization. Once you know about the brand that you are promoting and have knowledge about the industrial standards, there is no looking back.