Surpluses in the dynamic digital ecosystem can only be generated through a sound strategy and an innovative combination of advertising approaches. These must be based on data and technology to ensure the possibility of continuous optimising and thus enriching the funds invested in the form of improved results.
Digital advertising is becoming the first and most important option in marketing and the fastest-growing form of communication. Its growth is also indicated by the results of AdEx research for Slovenia for 2018 conducted by IAB which show that investment in digital advertising grew by 16% last year and reached EUR 54.7 million. For this year, the IPROM and Valicon study called Attitude of Slovenian companies to digital advertising projected that investments in digital advertising in Slovenia will exceed EUR 60 million. The results of the AdEx research for the period of the last five years show that investments in advertising on digital media have increased by almost 200 percent.
It is obvious that investments in digital advertising increase, while on the other hand marketing experts are searching for the best combinations of approaches that would maximise the effects of advertising campaigns and value of the funds invested.
Digital advertising enjoys success due to its efficiency and measurability
The three biggest assets of digital advertising are widespread use of digital technologies among users, efficiency of digital advertising and excellent options for measuring the effect of advertising campaigns. This was also shown by the iPROM and Valicon study on the attitude of Slovenian companies to digital advertising, where Slovenian decision makers pointed out that efficiency is one of the top reasons to use digital advertising, followed by measurability or option of evaluating advertising campaigns. Compared to the traditional advertising where it is difficult to accurately measure the results of invested funds, digital advertising allows justification of every euro spent.
Measurability of advertising campaigns also allows better distribution of further investments and greater transparency of funds used. Ongoing optimisation of advertising campaigns also plays an important role allowing adjustments and testing of several different options in terms of channels, messages, etc. With ongoing optimisation in real time, iPROM’s digital advertising experts adjust campaigns and thus provide better results.
The path to success is a prudent approach to advertising
The effective digital advertising campaign cannot be based on a random selection of communication message, but it is important to control all data related to consumers that offer a full picture of their wishes and needs. A consumer insight thus enables the creation of a consistent story that a brand communicates through all digital channels available.
At iPROM we are well aware of the importance of a prudent communication and thus we address every advertising campaign comprehensively – from deliberate planning of digital strategy through various digital channels which bring the best results given the objectives of the advertising campaign and users leasing the iPROM Cloud technology to optimising the campaign in real time and an accurate insight in the online analytics. We put data first, as we believe that they are the basis of every successful advertising campaign. The iPROM DMP allows us to collect, organise, manage and direct all the data that are key for preparing and implementing efficient digital advertising strategies, since in this way it is much easier to have an efficient holistic perspective, identify target audiences with high level of precision and plan strategies.
What channels bring the greatest success?
The days when we attributed the greatest advertising efficiency to one channel are gone. A deliberate combination of all available channels has become key, whereby the messages are smartly adjusted to the chosen channel since the same message will not have the same effect on every channel. In addition to adjusting messages to individual channels, communication of advertising messages must also be adapted to the behavioural patterns of target consumers and their phase on the purchase journey.
Due to its dynamics, the digital ecosystem provides many opportunities for delivering advertising messages to the target audience, from creating the awareness of a brand to conversion and increase of profit.
Here are a few examples: display advertising is most effective in the phase when the brand wants to raise awareness, and the greatest success has recently been projected also for video display advertising which is growing exponentially. Communication on social networks is considered an excellent tool for interaction with consumers and establishing a relationship with them, while participation of influencers increases trust in consumers.
I advise you to prudently make a decision where to allocate your advertising budget. It is crucial to know the target group of the brand, and in this regard the data present the basis on which to build creative concepts.