What used to be classic market research has changed dramatically at a time when data is referred to as “the oil of the 21st century.” Today, advertising can be implemented using programmatic advertising and the presentation of content based on data and above all tailored to the user. In this sense, data is actually the most important resource in the meantime, and as is often the case, as well as the size of the database, its quality determines how successfully a product is marketed.
Automation also needs people
Why is this becoming a challenge for many marketers right now? Because data-driven marketing brings in a technological component that agencies and departments have not dealt with to this extent in the past. Few of us have studied statistics or data visualization and recognize right away when a metric lures us on the wrong track. Fortunately, platforms like HubSpot, Mailchimp, Buzzsumo or SEMrush do a lot of things that humans are genetically inferior to. Nevertheless, there is a need for trained personnel who can handle the appropriate tools, marketing automation or not.
But if the right people are using the tools, data-driven campaigns are many times superior to classic measures. Because the ongoing analysis of the data “in real time” many steps can be automated, which used to be done with sometimes immense time expenditure of people – and often would not have been possible in this form. Bidding on ads and slots is now handled so efficiently by programmatic or smart bidding that the media agencies are under immense pressure.
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Audience targeting is becoming more efficient
In campaign management, it is no longer only the careful choice of advertising material that decides. But it takes a data-driven approach to play the content effectively. This is one of the reasons why performance marketing has gone through the roof in the last few years, and content marketing can be used dynamically along the customer journey. Thank data.
In terms of data technology, the technology and advertising giant Google is likely to go first and foremost, as well as Facebook, which has received much criticism, is the largest platform for online advertising. Using huge data sets, Google offers the possibility of the finest filters for audience targeting and here, like Apple and other tech companies, tries to find a balance between service, utility and data protection.
This should also be ensured with own stocks, because especially in the context of the GDPR it can become tricky, in the worst case over distributed data silos away to ensure the observance of the valid data protection rules. Sooner or later, the collection of marketing-relevant data in CRMs, data warehouses, BI and Web Analytics platforms will migrate to the cloud. Also for reasons such as growing data sets and to enable the exchange between the systems, keyword: break up data silos.
Artificial intelligence is already in the starting blocks
What is still today the analysis of big data stocks, will probably be handled completely by artificial intelligence tomorrow. The term has been haunting the industry for years and felt that today, if it’s not something to do with AI. In online marketing, however, the use of AI will be standard in the coming years. Because in order to play advertising space and messages as well as content marketing means even more targeted, classic analytics will no longer be sufficient. Meanwhile, user behavior is too complex to ensure a personalized customer approach based on defined rules and even algorithms.
Here, AI offers the advantage that they can not only act on the basis of databases, but learn from them and a host of other factors. The whole thing becomes even more powerful if you use the world of tomorrow, in which every human being generates 1.7 megabytes of data per minute, using them (partially anonymously) for machine learning. Thus, campaigns and other marketing activities can not be played only on the state of recent data collected. But it is then possible to significantly increase the conversion rate. For the reason that the trained and further learning AI will become more and more likely to foresee which product, message, and even measure will have the highest conversion probabilities.
Ultimately, everything boils down to the fact that tech is an indispensable part of advertising and marketing, and with the coming developments, the industry will have to change both strategically and creatively.
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