As consumers, we are increasingly inspired by stories and excellent offers; in the future, the most successful brands will be the ones building their story around the needs and interests of their consumers. Previously, the creators recognised said needs and interest intuitively; nowadays, however, we can check them very effectively by using data. Today, data are considered to be the compass when it comes to planning communication and advertisement action.
The use of data is a key feature in supporting decisions that are not subjective but are instead derived from consumer insight. This allows the marketing experts to avoid coincidental decisions and trust data leading them towards the right path. Said data allow them to move from “I think it will work” to “I know it will work”.
Good creative stories are based on data
At a first glance, data are a rational component, while creativity is an irrational one. Data are perceived as undeniable knowledge, while creativity is considered to be nothing more than a game of the imagination. Data refer to the analytical mind and to the left side of the brain, while creativity is related to the use of intuition and the right side of the brain. Data and creativity therefore seem completely incompatible; in marketing, however, the opposite is true, since a combination of both represents the winning strategy. Data provide an insight into analysis and understanding of the target group, which is why it is harder to obtain good long-term results through marketing strategies that are not based on data. In the future, the winning marketing strategies will focus on buyers and their needs. Companies can make the first step in this direction by constantly collecting, processing, and understanding data from their consumers.
Where to obtain data?
Data may be obtained from companies dealing with different market researches. Thus, advertisers may acquire a representative sample of consumers and also obtain detailed information on the field and the competition, while also obtaining ideas on how and where to find real consumers. This is the most suitable approach for a company that has no information on its consumers. Another way for a company to collect data is by obtaining their own data, which are extremely valuable for a company. Own data of a company are collected by the advertisers themselves, and offer a great deal of information about existing consumers.
An additional source of consumer information are advertising data. Nowadays, providers of technological advertising solutions use data management platforms (DMPs) in order to monitor behavioural patterns of target groups, record information on the advertisement campaigns performed, and often combine them with data obtained from other business activities of a certain company. In order to comply with the needs of a more precise targeting and optimisation of the financial assets of its clients, the iPROM DMP enables the collection of anonymised data on behavioural patterns of users which are stored in its own safely guarded data silos. Through APIs, it also enables simple integration with other platforms.
Designing a creative story
Once a company collects and analyses data, thus obtaining an insight into a better understanding of its consumers, it is provided with a good basis for the preparation of a creative idea and an efficient story. And this is where data become connected with creative ideas. Data enable the creative departments to obtain an insight into the profile of their consumer, which is then used as a base to start creating the communication campaign. The data tell us who the consumers are, what channels they use, what they like, what motivates them to buy products, etc.
However, since all target consumers are not alike, the creative component must be adapted to individual profiles of target consumers. In this way, companies personalise themselves, which helps them achieve better results.
Technology allows for a personalised address
Creative departments design different creative components, based on data and adapted to individual profiles of consumers. By delivering the messages, the technology takes things to the next level. For a successful personalised communication campaign, technology is key: it is namely used to deliver the right communication messages to the right consumers at the right time. The iPROM Real-time Creative solution enables an automated process of designing creative advertising solutions based on data obtained on behavioural patterns of the users of digital media. The iPROM Real-Time Creative solution combines the data on the behaviour of a consumer with predetermined parameters such as the phase of the purchasing process that an individual is currently in, the geolocation, weather, exchange rate, time of day and day of the week, the context of the website visited, and other available parameters. The technological solution thus enables targeting various consumers that are targeted through personalised messages. Said personalised messages are the factor enabling a more efficient communication and, as a consequence, a higher degree of conversions.
Achieving measurability through digital creativity
On the one hand, communication through digital channels brings us data allowing us a more exact insight into the target consumer; on the other, data enable us a higher degree of measurability of advertising campaigns. Unlike traditional media, digital experts can immediately estimate which ads function well and which should be optimised. Optimisation is thus just another advantage, since it is possible to change creative components in line with the response provided by target consumers.
Thus, digital advertising creates a feedback loop—at the beginning, data reveals the manner in which the target consumer must be approached, while also providing an insight into actual effects of communication messages through the evaluation of the success of the advertising campaign. The results or reactions of consumers let us know the actual needs of consumers and also tell us what really works; they are stored in data management platforms (DMPs). Data warehouses provide an archive of all data and information obtained through implemented actions, which are later made available in order to plan, implement, and optimise new digital strategies.
Data offer a better understanding of the consumer, which is a key benefit for reducing the churn rate and creating commitment. When combined with technology, they help companies communicate more personal stories, making it possible for them to create long-term relations with their consumers. Through the implementation of creative campaigns arising from consumer data, which are also adapted to the needs of consumers, companies create a closer relationship with their consumers and increase the life value of a consumer, while simultaneously ameliorating business results as a consequence.