With economic growth in the UK forecasted to slow due to the potential looming repercussions of Brexit, marketing budgets are bound to be under even more scrutiny than customary. As a result, marketers will have to ensure their brands are getting the most bang for their buck and instill trust in display advertising.
In the progressively intricate world of digital advertising, it is essential that marketers are able to prove ROAS effectively. In order to do so, marketers need to be able to accurately attribute value to all touchpoints in a consumer’s journey. Therefore, performance marketers should look beyond adopting the latest trends in the industry and start evaluating the concept of ‘trust’ in relation to their display advertising providers. Is your digital marketing agency providing you with an adequate level of insight and clarity or are they adopting a walled-garden approach of the same ilk as that of adtech giants such as Facebook?
All about those Ts: trust and transparency
The industry has been abuzz with the notion of ‘transparency’ for quite some time now. Recent scandals attached to key metric misreporting have only intensified the debate. Therefore, brands are understandably cautious when it comes to committing digital ad budgets. That’s why today, more than ever, marketers are investing time and effort into understanding exactly what drives success for their brands. By means of utilising attributed measurement, marketers are able to gain total deeper multichannel and cross-device transparency—allowing them to make informed strategic decisions and build trust in the worth of their chosen agency’s campaign activity. Our exclusive multichannel attribution and insights platform empowers marketers by giving them transparency across the full user journey. By seeing the role various touchpoints have played in leading to conversions, marketers are able to make better-informed and trusted optimisations. This in turn makes it possible to run more coherent and effectual campaigns.
So long cross-channel obscurity
Programmatic technology has changed the digital advertising industry landscape. No longer do advertisers buy inventory blindly—making it possible to show your products to the right consumer, at the right time, in the right place. However, it is not uncommon practice for media buyers to cherry-pick inventory, excluding poor-quality sites from their reports. Attributed reporting within display advertising gives you complete visibility into where your ads are being served. Additionally, abandoning single-channel attribution in favour of a multichannel approach, offers marketers a complete view of the consumer journey for all digital campaigns served. Understanding how various marketing channels in conjunction affect purchasing decisions, reveals true measure of success for ad spend and, more importantly, leads to more accurate campaign optimisation.
The next frontier for success
The sheer amount of data in the world is staggering and continues to grow at a dizzying and unprecedented rate. In 2015, IBM estimated that roughly 2.5 quintillion new bytes of data were produced daily. Tapping into big data might appear like a daunting herculean task. But, leveraging big data in marketing allows for more advanced and personalised campaigns, fuelling exponential growth for brands. Big data is not a short-lived craze. When properly handled and analysed, it takes “gut feeling” out of the equation, enabling brands to transform raw figures into actionable insights. As part of Rakuten Inc. we have access to a sizeable global publisher ecosystem. A wealth of data from wide-ranging verticals allows for sophisticated prospective custom target audiences. This, alongside proprietary machine-learning algorithms powering the automatic optimisation of ad creatives, enables you to reach large pools of the right types of consumers with the best performing ads, aiding your brand’s expansion.
Judging a brand by its creatives
Consumers are bombarded with commercial messages. As a result, the use of ad blockers continues to be on the rise. This is a fact marketers are aware of and the industry simply cannot afford to ignore. To stand oud out and ensure relevancy, eliminating the risk of further alienation, your brand must be represented by appealing ads—without compromising scalability. Capturing the attention of your brand’s existing, disengaged, and potential customers requires for your brand’s creatives to provide hyper-personalised experiences. In the marrying of engagement-oriented creatives and quality data, the story you have already created for your brand will successfully be translated into cross-device retargeting, prospecting, and brand-awareness campaigns that deliver your business KPIs.
A successful display strategy for your brand does not simply involve delivering an acceptable last-click sales report. Instead, marketers deserve to fully understand and be happy with how their brand’s display budget is being spent. Obscure tactics might have characterised the industry so far but going forward marketers should demand complete clarity from their agencies into what actually influences their customers at every touchpoint. Moreover, tailor-made, imaginative, and brand-sensitive creatives and access to premium inventory will ensure your brand’s longevity.