PREDICT USER INTENT TO BOOST BRAND REVENUE
There can be no doubt that competing for consumers’ attention is harder than ever before. The average person is exposed to at least 300 adverts per day, and for marketers it means that ensuring your efforts stand out in the ever-increasing digital marketplace.
Indeed, the consumer journey has been redefined with users easily jumping from one step to another in the sales funnel, thanks to the advancements in technology, creating more complex paths to purchase. While the path is more complex, this also creates a unique opportunity to capitalize on intent as consumers use search to find the answers to their problems, find the products they want and much more. These super empowered consumers are in charge, and they tell brands and companies what they need, and not the opposite.
So how do brands and companies use performance marketing to their best advantage?
The answer is three-fold: Connect and Automate, Align Marketing to Business Outcomes and Make it Personal.
“Implementing an always-on performance marketing strategy is the key to drive sales,” said Benjamin Dubuc, DLG’s Head of Search and Performance Media. “This is even more important for luxury brands where performance marketing not only helps them to make a better use of their budget by targeting the right audience, but also to become better at not spending money on the wrong audience.”
“Brands who apply these three principles will have more time to focus on what matters: telling their story and building great products”, he added.
1. Connect and Automate
The mistake that a lot of marketers and agencies make, is to think that they can optimize their campaigns better than machines by manually adjusting their bids on their advertising platforms. This practice requires a lot of resources and yields low results. And while leveraging SmartBidding technology to create segments in Google Analytics can help save you time in creating the campaign, it still isn’t enough in terms of optimizing the process.
What the best in the business do, is bridge the online and offline gap by real-time bidding based on customer values. To achieve that, they need to break the silos between the different business units and then combine all their data, which helps to create a loopback that allows the machines to better understand which customers are valuable for their business.
2. Align Marketing to Business Outcomes
Focusing on the wrong Key Performance Indicators (KPI) can cap your growth. All too often, companies are looking at Cost Per Acquistion (CPA) and Cost Per Click (CPC) and not actually focusing on what matters: their profits.
Marketers need to optimize towards business metrics such as profits instead of media key performance indicators. Because as companies become smarter at bidding and invest their money where profits are, values like CPC will adjust and will become lower on consumers with a low Customer Lifetime Value, meaning that if your Key Performance indicator (KPI) is to decrease CPA and CPC, it will actually become easier to reach your KPI.
3. Make it Personal
Behind each keyword typed into a search engine, and behind every click, there is a person. As marketers, it is our role to understand these users and find a way to move them down the sales funnel, whatever platform they are on. From awareness and research, to evaluation and justification, brands need to think about having a user-centric strategy rather than just focusing on the channels they are on. To create a valuable proposition, brands need to provide a rational and an emotional benefit to consumers.
Whilst companies need to tell their stories behind their brand, it is important to realize that not every customer is at the same stage of the brand story. Marketers need to acknowledge that each customer is unique; factors like age, financial background, culture, interests, and hobbies play a role in a purchasing decision.
Ultimately, the goal is to have a better understanding on what drives consumers to take action so you can better market to them and deliver your story by sending the right message, on the right channel, to the right person at the right time.
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Benjamin is a 360° Search & Performance Marketing expert. Before joining DLG in 2019, he gained experience on a global scale by working with international agencies such as Publicis, Edelman and FCB.