Oct 2019
Basis Technologies

Smarter Advertising - How Machine Learning Could Help you Achieve Peak Performance

Folks, winter is coming and I know it’s a scarily busy time for all marketers.

The aim of this article is to provide a source of information that you can use to help deal with the upcoming seasonal assault. I conveyed these insights at eTail: The eCommerce and Omnichannel Conference at Boston in August earlier this year and would like to share with you here as the eTail audience found it incredibly helpful. 

I’ll begin with the much-discussed topic of data.

Data is a big investment for all companies nowadays. CMOs are spending a significant portion of their budget on market research, analytics vendors, software, and technologies, as shown in recent research by Gartner.

Data is a Big Investment | Smarter Advertising

This investment has increased YoY and a majority of the decisions coming from business leaders are data-driven based on analytics.

Marketers are stuck in Data collection and Query | Smarter Advertising

However, and many of you can relate to this fact, marketers are mostly stuck in data collection and queries. Data analysts and scientists are spending their time in the management, integration, and formatting of data or even mundane tasks like creating dashboards and reporting. Only 29% of their time is spent on data advanced modelling.

Current State of Affairs: Publisher Data | Smarter Advertising

If we look at the current state of publisher data, there are obvious challenges ahead of us. Namely;

  • Keeping up with publishers' ever-changing algorithms. For instance, for years we’ve been bidding for the top position, but as of September, that has gone.
  • There is no easy way to apply bid optimizations from campaigns running on Google to Bing or even to manage all of these publishers from one platform. 
  • We have so many data signals that we want to use to optimize our campaigns. 
  • We want to focus on top terms and keywords and most of the time long-tail keywords are ignored. 
  • Once you see results for any specific top terms and as you start thinking about gaining market share for those terms, CPC bids would start increasing, resulting in bidding-wars with your competitors and even your own resellers. 

If you look at all of the customer-level data that you’re processing currently, you’ll no doubt have some powerful data on repeat purchase value, call surge and capacity, and lifetime value or average order value. To beat out your competition, you’ll want to be smart about your advertising strategies with all of this data.

If you look at contextual data, there are so many signals available out there regarding how your prospects are finding you - think about device, location, time of day, day of week, weather, etc.

The real question, then, is how do you integrate all of this rich data coming from various sources and channels to enhance your advertising and marketing efforts. Many of you may say a “Customer Data Platform” is the solution! And many of you may have been working with a CDP vendor. Raise your hand if you have one or are talking to a CDP vendor currently?

Well, I can’t see a show of hands here but just having all of this data in silos doesn’t make it usable. Smart advertising is all about integrating this data and modelling it to get the best results from your advertising efforts, and that’s what QuanticMind has been helping customers with. 

We’ve been integrating all of this data even before the term CDP was born 🙂

But how do we use all of that unified, integrated data for optimization?

This flow chart simply captures how we apply all of your rich data to achieve a potential use case or business application. I call it smarter advertising.

Unified Customer Data fuels Revenue Per Click (RPC) Optimization | Smarter Advertising

Our platform processes all of these online and offline data signals and calculates the revenue for each of your keywords. It then optimizes bids based on said revenue. We call it revenue-per-click optimization. The result is peak performance. And I am borrowing this line from our co-founder Brian Bird: “Peak Performance is a beautiful thing”

My father used to work at a Radio station. Growing up, I used to hate the holiday season. While all my friends were with their fathers, mine was busy as it was the time everyone would tune-in to listen to him on the Radio (He was a popular host and had a fan following back then). 

I couldn’t automate his busy work but maybe I could help you automate your busy work so you can enjoy more time with your family this holiday season.

I can go on and on as I’ve been doing all of this manually at some point in a very restricted way before using QuanticMind. I joined this company founded by data scientists and digital marketers to provide my fellow marketers with a better way to achieve superior results. Please cut down on the busy work and focus on business strategy and results.

We would love to tell you all about the beauty of our platform and smarter advertising. Request a free consultation now.