The marketing landscape is currently undergoing a paradigm shift, with customers becoming increasingly sceptical about advertising and wanting to get an understanding on how exactly companies are using their data, the ability for marketers to deliver customised content to their target audience is increasingly being put to the test.
However, this does not mean that consumers don’t want to see advertising, in contrast they are looking for companies who can showcase an understanding of their needs at the right time. According to research by McKinsey, there are four key things that consumers are seeking from their brand interactions:
- “Give me relevant recommendations I wouldn’t have thought of myself.”
- “Talk to me when I’m in shopping mode.”
- “Remind me of things I want to know but might not be keeping track of.”
- “Know me no matter where I interact with you.”
In order to respond to these consumer needs, marketers are continuously seeking innovative solutions to enhance their personalisation strategies.
Enter Creative Management Platforms (CMPs) like Bannerflow. CMPs allow you to integrate data, creativity, and technology to deliver personalised content that resonates with your target audience.
In this blog post, we will delve into the power of CMPs and how they can elevate your marketing efforts through dynamic creative optimisation, audience segmentation, and A/B testing.
Dynamic Creative Optimisation (DCO)
DCO is truly revolutionary in the world of digital advertising. With DCO, marketers are able to select and assemble various ad components such as text, images, and calls to action; in real-time to create a personalised ad for every viewer. Utilising a variety of connected data feeds such as using historical data, along with real-time testing and analytics DCO is able to continuously improve ad performance.
This ultimately results in ads that are unique to each individual viewer and their specific situation, leading to a significant boost in the ad's effectiveness.
Dynamic Creative Optimisation (DCO) comes in various forms:
Dynamic: This entails pre-existing dynamic ad versions, filled with specific data-driven components, which are governed and chosen via an algorithm. The dynamic DCO style provides increased potential for enticing, media-rich designs, and efficient creative enhancement. Moreover, it's straightforward to implement and scale using a Content Management Platform (CMP), eliminating the need for intricate coding.
Static units: These refer to single DCO-driven ad units that employ an algorithm to determine the display creative in real-time. Essentially, it is a static structure customised for each viewer. However, this method necessitates considerable preparation time and requires intensive coding. In addition, it lacks flexibility in creative design, leans towards static templates, and poses difficulties when it comes to retroactive optimisation. The set-up is a labor-intensive process.
Bannerflow's DCO feature takes this to the next level by providing advanced tools and a user-friendly interface. Marketers can utilise a variety of data sources to inform their DCO strategies, including CRM data, site analytics, and third-party data providers. As a result, your DCO efforts can be as granular and specific as you want them to be.
Moreover, Bannerflow's DCO feature includes real-time analytics and reporting. You can track the performance of various ad components, optimise your ad designs based on data-driven insights, and continuously improve your DCO strategies to maximise ROI.
Audience Segmentation
Audience segmentation is the cornerstone of any personalised marketing strategy. It's the process of dividing a broad audience into smaller, more homogeneous groups based on characteristics such as demographics, browsing behavior, purchase history, and more.
Undeniably, it bears repeating - understanding the exact identity of your customer is a fundamental requirement for successful marketing. To guide your strategy, it's necessary to construct an in-depth buyer persona for every segment you're targeting.
The creation (or refinement) of these personas should draw from diverse sources such as your CRM data, customer service logs, client feedback, market dynamics and tendencies, social media, and preferred communication channels, among others.
With Bannerflow, marketers can easily segment their audience based on a wide range of variables. This includes traditional demographics, but it also goes beyond that.
For instance, you could create segments based on the products a user has viewed on your site, the emails they've opened, or the ads they've clicked on.
This can lead to highly specific audience segments that are much more likely to engage with your personalised content. What's more, Bannerflow integrates with a wide range of data sources, allowing you to enrich your audience segments with external data.
This can provide a more complete picture of your audience, enabling you to deliver even more personalised and relevant content.
A/B Testing
A/B testing is an essential tool for optimising your digital marketing efforts. It involves showing two variants of the same piece of content to different subsets of your audience and comparing which variant performs better.
This allows you to test hypotheses and make data-informed decisions about what works best for your audience.
In the context of a CMP like Bannerflow, A/B testing can be applied to every aspect of your digital creatives. You can test different headlines, images, CTAs, personalisation strategies, and more.
Bannerflow's built-in analytics tools can track the performance of each variant in real time, providing actionable insights that can help you refine your creatives and get a better understanding of what resonates with which segment of your audience. This provides you with insights that can be incorporated into your marketing strategy to increase the performance of your efforts.
Furthermore, Bannerflow's A/B testing tools are designed with scalability in mind. You can run numerous tests simultaneously and manage all of them from a single dashboard.
This makes it easy to experiment with different approaches, learn from the results, and continuously improve your marketing efforts.
Navigating the Depreciation of Third-Party Data
As privacy regulations tighten and browsers phase out third-party cookies, marketers are confronted with the challenge of collecting and using consumer data responsibly.
This changing landscape underscores the importance of harnessing your own first-party data. First-party data is information that you collect directly from your audience, and it is becoming the gold standard for marketing personalisation.
CMP’s provide brands with the opportunity to focus on first-party data and deliver personalised messages while complying with privacy regulations. CMPs also foster a stronger brand-audience relationship, by facilitating the delivery of contextually relevant content based on audience behaviors, interests, and preferences, providing the opportunity to continuously harness first party data through consistent relevance to the consumer.
In this digital era where privacy is paramount, CMPs can serve as a beacon, guiding brands to maintain customer connections, deliver effective marketing strategies, and ultimately, navigate successfully in a post-third-party cookie world.
Wrapping Up
In today's digital marketing landscape, personalisation is key. With a Creative Management Platform like Bannerflow, you can leverage advanced technologies and data-driven insights to deliver personalised content at scale.
Whether you're looking to optimise your ads with DCO, segment your audience for targeted marketing, or run A/B tests to improve your creatives, Creative Management Platforms have the tools and features to help you succeed.
Find out more about Bannerflow and our solutions by watching the Bannerflow in 3-minute video here.
