Digital advertising is not just about delivering a portfolio of ads on digital platforms. The pressure is on to meet dual objectives of messaging effectiveness and spending efficiency. Today’s advertisers need to drive continuous efforts in understanding their customers and creating clear user personas based on demographics, buying behavior, browsing history, and more, so they can make informed decisions and deliver the right advertising content at the right time at the right place and in the right format.
Forecasting customers ‘motivations, removing ambiguity, and delivering personalized messages and offers is the only way companies can get more ROI from their digital spending, generate additional revenue, and succeed in the constantly evolving digital landscape. But creating a single view of customers while also overcoming long-established data silos doesn’t come easy.
Challenges associated with digital advertising
Digital advertising, although now a primary way of reaching out to customers, comes with its own set of challenges.
Let’s look at the top hindrances that are likely to come in the way of digital advertising strategies:
- Defining the right audiences is one of the biggest challenges facing advertising companies today. Since almost every customer today uses a variety of online and offline channels to interact with a brand, identifying the right audience segment and delivering the right content is often tricky because of data fragmentation.
- Delivering the right messages to the right audience at the right time is just as challenging for most digital advertising companies. Meeting advertising goals requires successful placement and delivery. That is possible only when companies create messages that resonate with their audiences and are in the right format and design.
- Tracking campaigns and their performance across the customer value chain also doesn’t come easy for advertising agencies, especially those that depend on legacy tools and systems. The inability to process data in real-time and act on insights to drive decisions can lead to unsatisfactory metrics and poor KPIs that can eventually impact digital advertising efficiencies and outcomes.
Top tips to get more ROI
It’s crucial to combine advanced Programmatic Ad Serving & RTB technologies, analytics, consumer insights, machine learning, and AI to help advertisers succeed in the constantly evolving digital landscape
- Invest in a modern advertising platform: If you want to get more returns from your digital spending, you need to move away from traditional approaches and systems and invest in a modern advertising platform that makes buying media innovative yet straightforward. A future-ready programmatic advertising platform powered by the latest technologies can help you automate workflows and optimize your creatives while also allowing you to bid in more innovative ways.
- Indulge in different ad formats: Regardless of current trends, it is good to indulge in various formats for maximum ROI. Instead of relying on just one format, utilize existing, new, and upcoming ad formats that work best with your audiences. At the same time, also make it a point to pre-target and retarget your audiences and use pre-built segments to create successful campaigns based on past learnings and experiences.
- Ensure contextual targeting: Delivering the most useful (and relevant) to your users is extremely important to get the most from your digital spending. Using different factors to determine which content is relevant to which set of users can help you deliver the right ad to the right users while also targeting audiences based on the most appropriate keywords and ensuring the content aligns with the user’s current need.
- Leverage the power of data science: Leveraging the power of data science is yet another way of driving better outcomes. Since modern data science platforms combine valuable data from multiple online, offline, first-, second-, and third-party data, they help provide a unified view of data from across the business so that you can create winning digital strategies. Using predictive modeling and heuristics, you can also use these platforms to deploy Machine Learning models and create custom segments and audience cohorts.
- Take a customer-centric approach: Taking a customer-centric approach to digital advertising is also extremely important to optimize the consumer buying cycle. Having a customer-centric marketing stack in place can not only aid in activating and mobilizing first-party data; it can also help in bringing better transparency across the marketing and advertising value chain
- Opt for Managed Services: As digital advertising gets increasingly complex, opting for Managed Services is a sure-shot way of getting the necessary support for all ad types. Since a qualified Managed Services Provider can bring decades of digital advertising experience and expertise, you can be sure to achieve better ROI from your campaigns with the least effort. In addition, you can get access to premium skill sets and deep domains and reach the right ad inventories to deliver the right messages at the right time.
Targeting audiences at the exact time when they are ready to act is every organization’s dream, but not everyone can turn this dream into a reality. Aroscop’s ASK1 platform is backed by data science. It utilizes future-ready programmatic advertising technology that allows organizations to identify or select pre-built cohorts of users with specific behavior to deliver the contextually-apt advertising content to them.
Being quick to launch and extremely scalable, ASK1 is the only tool you need to target or retarget your omnichannel audiences, uncover actionable insights, and deliver advertising content that is accurate, timely, and relevant – and get better ROI from your digital spends.