As the physical world stopped in its tracks for a bit, online life has never been more alive. Digital media are breaking visitor number records as are the companies that pivoted to online sales and accelerated their digital channel communication efforts. For companies looking to survive it has never been more important to use advanced digital advertising technologies to communicate with consumers effectively. The winners of this crisis will be those who are ready to become digital.
Customer information – the foundation for wise decisions
Nobody actually knows the extent to which the consumer world will change. Analyses carried out by various research companies only reveal its temporary impact. However, even a cursory common-sense look at the research shows that digital channels rule the new reality. In March, digital media experienced record growth in their reach, a fact confirmed by a new iPROM study of the market in the Adriatic region. Companies that pivoted to online sales at the right time are also achieving great results.
As brick and mortar stores are mainly closed, the ability to understand “digital” consumers and their needs is just as crucial for better decision making as the advertising data management platforms, such as iPROM DMP. These platforms provide an improved insight into digital consumer behavioural patterns allowing us to use the right technology to deliver the right content at the right time to the right device.
Demand has not changed, what’s changed is the purchase journey
Do not worry. There is still demand in the market. What has changed are our needs and purchase journeys, a fact borne out by countless real-life examples. The greatest challenge is how to reach the targeted consumer with the right offer when they are susceptible to it. By using advertising technologies and ad content hyper-personalization we can target consumers very accurately with specific and relevant content. Furthermore, irrelevant ads can cause more harm than good, especially if the display frequency is not managed effectively.
Programmatic advertising – more important than ever
We are receiving encouraging information from China, where the health and economic situation is slowly stabilizing. eMarketer predicts that the Chinese market will experience 25-percent growth in programmatic digital media spend. By using advanced targeting, advertisers can improve performance while also optimizing their ROI. We can expect to see a similar situation here, where we can learn from our experience after the 2008 financial crisis when iPROM’s advertising campaigns carried out using iPROM Cloud platform allowed numerous clients to drive sales and exit the crisis conditions in a better condition.
Predictive advertising – consumer decisions can be predicted
Marketers will likely have to redefine their target groups and predict their behaviour. A growing type of digital advertising is predictive advertising that is based on a preliminary analysis of data about the target group. This method, supported by machine learning and artificial intelligence allows us to show our ads to consumers about whom we are fairly certain that they are the future representatives of our target groups. By adopting this approach, we can better utilize advertising budgets to improve advertising campaign outcomes. Our award-winning advertising campaign for Argeta vegetable spreads is proof that this approach is effective. Changes are coming. Are you prepared?