Digital advertising is an ever-evolving behemoth. Now, to effectively reach your target audience, your ad operations need to be digital, multi-channel and omnichannel. Omnichannel advertising, however, is more than just being present on all channels, it’s having the marketing insight to know the correct channels. According to Econsultancy, only 22% of businesses are satisfied with their conversion rates.
Data is the key to this business intelligence — unlocking the appropriate platforms to speak to your prospects. Campaign management, audience profiling and the marketing ecosystem is now so closely identified through big data, technology and online platforms, a new breed of advertising has emerged; martech.
Data is an entire business in its own right; knowing your customer, where they consume information, their buying preferences and end-to-end consumer journey can all be identified through this critical data. But gathering true business intelligence through data, due to its weight and volume, is impossible for the human brain. Businesses need analytics, artificial intelligence and data management to transform this glut of information into visual, intelligible and actionable insights.
Data becomes virtual
Emerging VR technology is expected to bring next-generation data visualisation to fruition. With the endless collection of 360 degree consumer data, it’s almost impossible to visualise insights in a two or three-dimensional illustration.
Data needs to be visualised in an immersive format that allows you to analyse, visualise and interpret from multiple angles. VR can make data less dense and more intuitive, giving a true illustration of scale, direction, and trends.
From legacy to next-gen CRM
Traditional CRM systems are largely based on disparate legacy technology and buckle under the weight of this new pool of 360 degree consumer data. A new breed of CRM, DMP and ERP systems are on the market, providing a central business hub of real-time information on consumer behaviour, and unifies all back-end data resources and social insights.
Businesses that transform their legacy processes and systems into a more streamlined funnel are the first to truly understand their consumers and gather useful data. Automation also brings workflow efficiency to processes, it removes scope for human error and improve overall business output.
Dentsu Aegis Network unified its legacy systems to improve its customers’ business accuracy and insights. As a global operation creating communications strategies for its clients, the firm was pulling data from 25 global sources and deploying manual processes for forecasting and reporting. The implementation of a new Data Management Platform consolidated its multi-region sources into a single application, improving their client insights, reporting and revenue.
The result? Entire cross-channel intelligence on consumers habits, preferences and needs. Digital marketers, and those who offer such services to other businesses, know what consumers need even before they do, which means supremely accurate forecasting.
More data means more complexity
This brave new marketing world is indeed more streamlined — but the truth is, ad operations are increasingly complex for businesses to manage.
As Martin Kihn explained on the Gartner blog, “Digital marketing technology consists of at least 2,000 significant vendors – and those are just the ones we track in our secret database. Many of them touch in some way on the subcategory we can call advertising technology, including demand- and supply-side platforms, ad exchanges and networks, ad servers, media agencies and trading desks, data and analytics vendors, and so on.”
According to the Q1 2017 IPA Bellwether Report, business marketing budgets jumped up in 2017, with the most significant growth in internet and media advertising. But with an increasingly murky landscape, how do these businesses navigate digital real estate and allocate their ad spend effectively? Dentsu Aegis Network, for example, chose to partner with Genisys to streamline its campaign management and data processes.
Choosing a marketing technology partner with expertise in next-generation ad operations removes the complexity in channel allocation, budget management, monitoring and behaviour analysis. Read more about our ad operation services, to see how Genisys can drive more engagement and conversion for your brand with digital advertising.