Billions of dollars are wasted by marketers across all industries each year due to poorly executed cross-channel marketing campaigns. Our over 15-years of experience in the industry has shown that these losses don’t occur strictly due to the use of the wrong channels, they’re due to the execution of these campaigns against the wrong audiences. By most accounts, the marketers suffering these losses aren’t recklessly allocating dollars to various channels without planning. They’re doing what they believe to be the due diligence in strategy development, landing on what is believed to be a sound audience to reach and executing in the channels where their tools have showed the most efficient and effective.
What many companies haven’t had the opportunity to be exposed to, are the incremental layers of insights available to help identify and filter out the right audiences to target cross-channel and cross-device. The knowledge that these layers exist is out there, the issue has been how to integrate these into a process for audience identification and data transformation to take action against. To coin a common phrase…you don’t know what you don’t know. You continually hear terms like “Big Data”, “Re-Targeting”, “Channel-Agnostic”, etc…and while the theory behind them makes sense to us, the struggle of integrating it all together to drive the right digital strategies, is what seems to get lost in the discussions.
The full resolving, understanding and filtering of your right audiences is the critical part of your strategy development. If done correctly the channels to engage will be uncovered, but until the identification of these audiences happen, a true ROI-driven strategy is difficult if not impossible to develop.
It would be easy for us to get into the weeds on how proprietary algorithms like ours work behind the scenes using the millions of data points coming in daily. If this does interest you, we have brilliant Ivy league educated scientists willing to walk you through a two-day session that would mirror an MIT course. At the end of the day, we’re guessing that what really matters is how this ultimately leads to filtering out your ideal audiences to target with your digital campaign. The reality that this segmentation is what will allow you to drive your campaign objectives over the finish line, whatever those may be and stop spending dollars against audiences who may never fit with your product or service or as our industry is experiencing, spending dollars against audiences that actually don’t exist.
So let’s make it simple, it really comes down to 4 basic and logical steps, regardless of your product or service:
1. Make the decision that engaging in the digital space is an important place to focus.
- We’re not talking about deciding if it’s Facebook, Email, Display, etc…. that part comes later. At this point, simply making the decision to allocate the appropriate resources to executing in the digital space.
2. Segment the ideal audiences to reach.
- Basic tools can help provide direction on topline demographics and psychographic attributes but the incremental layers of insights available will allow you to filter out only the ideal segments to target. Make the effort to understand every attribute about them.
- Understand the how, when and where your ideal audiences engage.
- Develop the right channel strategy based on your audience profiles. Understand how they engaged across social platforms vs email vs display vs non-digital.
3. Determine your campaign parameters.
- Confirm those internal variables that need consideration (geographical focus, product launch vs sustaining, competitive landscape, supply, etc.…).
- Define budget allocations against forecasted sales objectives to determine the scope of your campaign efforts required.
- Once the parameters are established AcquireAudience can trigger daily audience generation at scale via API and make available on our fulfillment platform or your platform of choice.
4. Develop the communication creative and messaging.
- Determine how and through whom the campaign creative development and execution is implemented. Whether it’s an agency partner you have, an internal staff who will manage, or you prefer to work with a team like we have in place to help you deploy campaigns, the options are there.
In summary, simply “spraying and praying” may get your more eyeballs but the difference between the brands that succeed in the digital space vs the ones who don’t, comes down to making sure the eyeballs that are reached are the ones who ultimately make the cash registers ring.