The impact of online advertising has been so immense that the advertising industry of ten years ago would not recognise itself today. From the very first moment that advertisers took that uncertain step into the digital realm, the marketing landscape was forever changed. Digital platforms such as websites and social media pages, now offer advertisers a significantly extended reach compared with traditional media, enabling them to target and influence audiences around the world.
However, whilst technology has been evolving to increase the scope and capability of advertising as well as brand messaging, consumer expectations and attitudes have also changed. Old-fashioned ‘spray and pray’ tactics no longer work. Organisations that continue to use this now archaic method only serve to frustrate and annoy potential customers and in the worse cases, generate negative feedback that ultimately reflects badly on the brand.
Today, the consumer is in charge. They want, in fact demand, a personalised approach with messages, products and even colour that is relevant to them. With this considerable shift of power, the advertising industry has turned to big data for the solution. It is only with big data, together with data analytics, that marketers can successfully reach individual customers, at the right time, with the right message and at the right cost.
To many, this shift has appeared as the hallmark of automation and the elimination of the human element – causing concern that the creative element of advertising is being reduced to binary numbers and formulaic calculations. This concern detracts from the reality though, that rather than presenting a threat to the human touch, this is the beginning of intelligent optimisation as advertisers take the information provided by analytics to build and improve the content and execution of their campaigns. Due to the sheer size and scope of big data it is impossible for humans to conduct accurate analysis in a timely manner. Instead, by using the powerful analysis engines, marketers can leave the sorting of raw data to automated processing and concentrate their efforts on designing creative campaigns based on, more often than not, improved insight.
This improved insight can come in many forms, whether it helps brands identify the best time to speak to their target audience, the best cross-device strategy to implement or even what colours to use (if you’re in the UK it’s red). Often tapping into neuro-marketing elements, big data can inform on even the most fickle and changeable consumer. As a result, the combination of big data and a marketers brain presents the opportunity to connect with consumers in a more personalised way – ultimately ensuring brands are able to secure a competitive advantage.
Though some have speculated that technology has removed the element of creativity from the advertising industry, in truth, it has enabled marketers to explore how and where to apply their ideas in order to make the greatest impact. The adoption of increasingly intelligent analysis and automation engines will only serve to strengthen the industry by improving efficiency and driving more positive results in targeted campaigns.
By Jon Buss, Managing Director UK & Northern EMEA at Criteo.
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