How data-driven predictions are changing the face of retargeting

The emergence of digitally-enabled devices and the proliferation of sensors means that marketers have an unprecedented opportunity to tailor and target ads with greater sophistication.

And yet, according to a report by Gartner Inc., 63% of marketers still struggle with privatization and 23% struggle to choose the right technology to support these efforts. Based on previous studies, these problems may arise from the fact that only 40% of marketers have a clear personalization strategy and roadmap, although personalization takes up 14% of their marketing budget.

Before we give up personalization, let’s get back to what it actually does;

Personalization is not just the availability of new channels for marketers to learn their habits and learn to use predictive analytics to send their best offers. For many, this is not just a strategy.

Personalization should be about respectfully collecting data and using it strategically to build a relationship that enhances the consumer experience and deepens their confidence in the brand.

Outcome marketers should pay attention not only to what they will be able to do in terms of engagement, conversion or sales. Brands need to aim for an experience that can be described as “enjoyable relevance”. This is a goal within reach.

It is also possible that marketers have struggled with their personalization efforts because they missed an important step.

There is a presumption that, perhaps, by combining consumer data from a variety of sources – such as CRM, brand site, cookies and ID data – consumers will certainly be happy to receive more targeted ads based on predictive analytics as a topic.

In many cases, however, marketers need to be aware that adopting a more personalized approach requires careful advance planning to ensure that you get the most out of your data source.

1. Start with the right segment: It’s hard to try to embrace personalization across the board. Segmentation based on your most valuable customers, or the ones most likely to offer information, means you’re working with data that was initially opt-in. This laid the groundwork for a much grander and more effective re-marketing campaign. This means making sure your line items and naming rules are consistent across platforms and that your sources are properly tagged. For your SaaS campaign, you may want to share your audience across different industries to make sure your message is personalized in the right way, and grouping your audience properly on DV360 will make all the difference.

2. Where consent is not clear, provide context: Imagine that we didn’t need GDPR or CCPA to force our brands to create banners to inform consumers about cookies and to click “I accept”. Now imagine the same thing in a data-driven remarketing campaign, where simple things like “based on your activity with us” can help explain why consumers see a particular creative or offer. Providing a valuable experience to your audience with helpful information such as the right pricing feature in your eCommerce ads helps ensure a meaningful advertising experience.

3. Collaborate instead of forcing: In addition to transparency, optimal data-driven marketing will increasingly assume that brands provide consumers with self-service capabilities. This would go beyond just being able to unsubscribe from e-mail messages, but sophisticated choice centers that let them feel like they are active participants in a relationship with a brand. High-impact or eye-catching creative that can create or break performance by providing a personalized experience. For travel brands, for example, you can show off enticing trip ideas through beautiful photography and call customized price deals and discounts for your visitors’ locations.

4. Choose OmniChannel over Isolation: Model brands can develop using machine learning and related technologies to predict that consumer demand will decline if they are used only for online advertising. Consumers will come to expect a tailored experience across every touchpoint, from social media like digital out of home, location-based advertising, e-mail and even Instagram stories.

5. ABA: Always ask

Marketers are accustomed to measuring the results of their work, but personalization metrics should include how often they engage with consumers to gather feedback on the experiences they provide. It can go beyond the checkboxes of websites and emails but also active surveys, focus groups and even in-store or private events. Marketers should constantly evaluate what data is being actively captured, be it through a website and ad interaction through CRM, to make the most of each touchpoint and to ensure that those measurements are being returned to their DMP, ad server. And provides insights into how digital campaigns are run.

There is a lot of potential for remarketing beyond just following a customer’s every move. By using a thoughtful approach to customer data and using those valuable inputs to GMP, marketers will be able to advance their personalization strategies to drive meaningful connections. Personalization should be the product of a top board dialogue because pleasing relevance is in the best interests of both parties.

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