Marketers: Demand More from Your Data
Lately, the industry conversation around data-driven marketing has gotten stuck. Too much chatter is focused on applying data to advertising or activating data to push out targeted messages. Activating data is well and good, but that’s only one small piece of the picture, says Turn’s Cindy Deng.
The data that resides in your data management platform (DMP) is good for a lot more than targeting ads. With the right DMP marketers today can know so much more about their customers. Applying this knowledge across the business can drive not just smarter marketing decisions, but smarter business decisions and, ultimately, competitive advantage.
Centralised data combined with sophisticated analytics capabilities can provide powerful insights useful for many areas of a business; here we’ll take a closer look at just a few of those opportunities – budget allocation, brick and mortar merchandising strategy, and messaging strategy.
Budget allocation
Marketing teams work hard to be as efficient as possible in order to hit their KPIs in every different initiative – direct mail, TV buys, social media, premium inventory buys, ad networks, and search to name a few.
The analogy I like to use is of a race car. Imagine the car represents your marketing goals – you want to get it around the track as efficiently and quickly as possible to beat the competition. As soon as it stops in the pit, the crew teams swarm to work. Each person has a very specific task – one removes the back tire, another puts a new one on, a third tightens the lug nuts. Each team is optimising their particular job very well but has no awareness as to what the other teams are doing. This is often what happens in marketing departments today with siloed data within channels and results that are difficult to understand holistically.
Now imagine that pit crew had the insight to realize that if they took a bit of air out of the front left tire and added more to the back right tire, the car would be more efficient going around the track. Centralising your marketing data in a DMP enables the analysis of performance metrics across channels to optimize budget allocations in the most efficient way possible. For example, it may be that relinquishing some display budget and investing that in search and social may make the overall marketing budget more effective. Centralising your data helps you be as efficient as possible not just in your ad targeting but in your overall optimal budget allocation.
Brick and mortar merchandising strategy
One of the main benefits of a DMP is the insights about your audience revealed through deep analysis of data. You know your customers better than anyone – but there may be characteristics about them that even you don’t know. Most marketers understand that the insights revealed with a DMP can help you target ads against these new audience traits to expand your reach – but have you thought about how this might extend into the offline world? Applying the insights to your merchandising strategy can drive incremental sales and revenue.
For example, in the U.S. we worked with a national paper products manufacturer to combine the fact-based data they had on their customers with attitudinal data from surveys and rich 3rd party data from more than 40 vendors. This data, centralised into consumer profiles was able to produce a rich picture of brand loyalists. The analysis revealed that consumers that were very brand loyal indexed highly as pet owners. Using this insight, the brand worked with a national pet supply retailer to set up merchandise displays in the checkout aisles in select stores. Ultimately, they saw a positive return on that investment and rolled out the idea nationally – a successful merchandising strategy revision based on DMP insights.
Marketing messaging strategy
Data-driven audience insights can help inform how to target ads, certainly – but the insights can come into play even earlier, in helping to inform the marketing messaging itself. A major global car manufacturer recently was planning campaigns for two different models in their line – an SUV and a car. While they had a general understanding of the different types of people each model appealed to, an analysis of 1st party loyalty data and 3rd party data revealed some very specific insights. Some were intuitive, such as the car owners tended to be younger and the SUV owners tended to have kids. There were also some key learnings that were less obvious.
Buyers for the car were three times more likely to own an Android phone, while buyers for their SUV were more likely than other groups to own a pair of skis. The manufacturer took these insights and changed their marketing strategy, from brochures to ad creative. They started showing the SUV in the context of winter sports as opposed to summer activities and instead of emphasising iPhone integrations – which had previously been a focus – they highlighted BlueTooth capabilities.
You have the data – put it to use
The technologies and platforms available today provide marketers with incredible tools for understanding who their customers are, how they are engaging with their brands and products, and how they behave beyond the scope of the brand interaction. These insights can drive efficient and targeted advertising, but the value of this data-driven knowledge extends far beyond the realm of media buys and ad delivery. Ultimately this consumer insight data can and should be used to make better business decisions. Data can be applied everywhere – are you getting the most out of yours?
Cindy Deng is the managing director Asia-Pacific at marketing software and analytics platform Turn.
Latest News
Sydney Comedy Festival: Taking The City & Social Media By Storm
Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]
Global Marketers Descend For AANA’s RESET For Growth
The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]
Is Meta’s New AI Chatbot Too Left-Wing?
Meta's chatbot accused of being left-wing after being caught wearing a Che Guevara T-shirt & listening to Billy Bragg.
TV Ratings (23/04/2024): Why Did No One Tell Angela That Farmer Wants A Wife Is Set On A Farm?
As wonderful as this headline is, let's face it, we all know an 'Angela', don't we?
PubMatic Unveils New AI Partnership To Turn Social Posts Into Ads For Any Digital Channel
Here's some nifty tech for turning social posts into ads. Assuming said posts aren't one-star character assassinations.
Intuit Mailchimp Makes A Splash With Its First Australian Brand Campaign
Ever laugh along at a gag you didn't get so as not to appear dumb? Get ready for more feigning with this new work.
GumGum’s Rob Hall: Advertisers Can No Longer “Rely On Binary Descriptions” Of Consumers
If anyone's got their finger on adtech's pulse, it's Rob Hall. He also avoids using the good paper in the office printer
Mastercard Nabs Florencia Aimo From Marriott International
Marriott International's Florencia Aimo jumps from the hotel business to the exploitative credit card one.
Bastion Agency Appoints Cheuk Chiang As New ANZ CEO
Cheuk Chiang takes the reins over at Bastion Agency. But not the rains down in Africa.
Spotlight On Sponsors: Major Sponsorship Wins After A Disappointing Week In Sport
B&T continuing our deep dive into local sport sponsorships & that's despite not a single offer of a free ticket as yet.
Macca’s Marketing Director, Samantha McLeod On Big Mac Chant: “What Was Once Old Is Now Cool Again”
Macca's using the power of nostalgia in latest Big Mac campaign. Well, only for those who've ever eaten one sober.
World Premiere Of Midnight Oil: The Hardest Line To Open Sydney Film Festival 2024
Oil's biopic to open Sydney Film Festival. Here's hoping Molly Meldrum will take his pants down at the premiere.
Entries Are Now Open For The 2024 Brandies, IntelligenceBank’s Annual Brand Marketing Awards
The Brandies are, of course, a prestigious marketing gong and not the mystery tipple favoured by nannas everywhere.
The Fred Hollows Foundation Appoints Ardent For PR
Yes, we all like to have a joke at PR's expense. But sometimes it does important work, like this.
AI, eCommerce & Marketing Specialists Are In Increased Demand By Businesses, New Data From Fiverr Shows
Has your philosophy & anthropology degree left you with nothing but a huge HECS debt? Here's what you should've studied.
Perth’s First 3D Anamorphic Billboard Arrives Courtesy Of oOh!media
Do you love a buzzword? Now you can add anamorphic to the list as it relates to billboards, not a colleague's ears.
MasterChef Australia & Crown Resorts Launch Unique Dining Experience With ALUMNI
A pop-up restaurant staffed by MasterChef contestants! That's fine dining prices for first-year apprentice chef cuisine!
Amanda Laing Announces Resignation From Foxtel Group
Foxtel's chief commercial & content officer heads for the exits. Read nice things the bosses said about her right here.
The Lost Letters From Our Diggers: News Corp Unveils ANZAC Day Special
It's nice when brands respectfully acknowledge ANZAC Day.
Howatson+Company Acquires Akkomplice
Large indie acquires a slightly smaller indie. Much like a shark eating a tuna, just with less thrashing and blood.
Google Delays Third-Party Cookie Deprecation Again
In good news for the sale of picture library biscuit photos, Google continues to tease over the end of cookies.
Education A Low Priority For Aussies More Concerned With Cost Of Living Forethought Study Reveals
Study finds Aussies cutting back on education due to cost of living. Booze & Uber Eats sales remain largely unaffected.
“I’m Still The Same Person That I Was”: Rikki Stern Says “Fucc It” To Cancer Stereotypes
B&T always happy to promote the anti-cancer cause. Even brands that massively overdo it with the hot pink.
The Unapproved Climate Certification Allegedly Causing Mass Greenwashing
Are you left flummoxed in the canned tuna & free range eggs aisle? Just wait till this green certification gets up.
TV Ratings (22/04/2024): Fans Mock “Over The Top” Reaction To New MasterChef Judges
MasterChef returns for its 2024 season. B&T stands by putting peppercorns in Gravox & no one will be any the wiser.
Dentsu Restructure: Muddle, Harvey & Johnston Take Leadership Baton As Bass & Yurisich Exit
A large broom has swept through Dentsu's local ops this morning, taking with it some big names & the air con's cobwebs.
Industry Shares Trends Shaping The Industry This International Creators Day
B&T's asking adland creators to reveal their top trends. And it's not good news for your Jenny Kee cardigan collection.
Mable Extends HOYTS Sensory Screenings Partnership
Mable has extended its HOYTS sensory screening partnership. Vigorously defends its two-star Oppenheimer review.
Orphan Launches ‘They Need Our Help. We Need Yours’ For Children’s Cancer Institute
Anything to do with childhood cancers has B&T's 110% support. That said, we do ignore the red meat & alcohol warnings.
Smile Team Orthodontics & Keep Left Collaborate On Smile-Inducing Campaign
As parents would attest, given the cost of orthodontics you'd expect this campaign to be a lavish production indeed.
Opinion: How Video Calls Neglect Learning Diversity
Need an excuse to duck out of a video call this arvo? Show this to your boss.
DoubleVerify Achieves First-Of-Its-Kind Responsible AI Certification From TrustArc
DoubleVerify receives responsible AI certification. However, not its robotic vacuum that's been seen menacing the cat.
Smile For A Good Cause: The Social Media Campaign Giving Back To The Community
Are you known as the office Austin Powers? More for you teeth than shagability? Get snappy new fangs with this news.
Elon Musk Mocks Albo After ESafety Wins Court Injunction Against X
Albo's 2024 from hell continues - Rabbitohs in crisis, down in the polls and now feuding with world's richest man.
Real Estate Developer In Hot Water Over “Sexually Exploitative” OOH Campaign
Real estate agents again tops in the 'least trusted profession' polls, nudging used car salesmen & ad creatives.
Epsilon’s Shane Hanby: Post-Cookie Era Relies On “Teamwork” Between Brands, Marketers & Tech
This pro predicts more "teamwork" in a post-cookie era. Which spells bad news for the uncooperative or plain stubborn.