DorisRon
Member
Only those do not make mistakes, who are not going to any aims. Do you remember Niccolo Machiavelli, the secretary at the second Chancellery of the medieval Florence, who was responsible for diplomatic relations of the republic? So he once said that those who do not take into account their capabilities and seeks to conquer at any cost, make a reprehensible mistake. Many companies make serious mistakes in relation to the advertising procurement with algorithmic technology. Here are the main ones.
USE OF OLD KPI
Timothy P. Carey, the senior director of sales in DataXu, engaged in marketing programmatic-solutions, believes that brands should not see the technology as a solely performance mechanism. It is necessary to refuse old KPI, because brands have to start revising of their key performance indicators. There are many other attribution models and KPI, which should be considered first.
In addition, according to Arun Kumar, who served as a president in Cadreon Digital Platform, which provides marketing services, the biggest mistake of many companies is that they perceive programmatic solely as a cheap way of media advertising purchases. Correction of this mistake is quite simple - replace the word "cheap" with "favorable", and everything will fall into place.
TOO FAST PACE
Brands do not have to rush at breakneck speed in the use of new technology just because everyone says about programmatic, arguing that every successful company must understand it. Before you adopt these strategies of data use and the technology of real-time buying, you must first weigh and analyze everything.
"We have clients who are promoting multiple brands," - says Adam Kasper, Marketing Director of North American branch of the company Havas Media. "All of these brands use different platforms, they do not communicate with each other through their first-party data, they simply do not interact - no one can guarantee that in this case programmatic will be successful and sufficiently scalable."
So before they begin to invest in technology which has not been used previously, the company must determine whether it is ready for it internally.
BRANDS DO NOT CREATE THEIR OWN DATA SETS
In one of the presentations Julie Fleischer, Director of data content and display advertising in Kraft Foods Group, says that brands need to create their own data pools, which help provide a competitive advantage. Programmatic initiatives must be introduced by brands and supported by agencies. However, the brands must manage the strategy, collect data and efficiently use the agencies in matters where they are competent.
DIVISION OF PROGRAMMATIC FROM OTHER TASKS
Programmatic doesn't have borders. Programmatic tasks should not be isolated, or a so-called "silo syndrome" may appear, which implies a complete dissociation of different departments - marketing, training of employees and the sales team.
92% of companies in B2B market find activity of sales marketing units insufficiently coordinated.
This absence of common goals and working communications between various departments that business literature defines as "Silo Effect", can lead to very disappointing results. In programmatic use of "silo" is meaningless. Grain should be mixed! Brands need to develop new tools for better understanding of the consumer, before turning the starter of advertising machine.
BRANDS DO NOT RETURN AFFECTION TO CUSTOMERS
Each company must remember the simple truth: it is extremely important to reward the consumer for the fact that he shared his personal data with it. When you are trying to establish contact with millennials or representatives of the younger age groups, you often face with the problem - users do not want to share their data. They are smart enough to know when you are collecting information about them. That's why the model of user behavior in this case is predetermined: "You collect my data, and what will I get in return?". The modern consumer wants it to be a mutually beneficial exchange.
In our time, we should be indulgent to all sorts of errors, especially if it is related with a revolutionary technology, which plowed new advertising ground. But analyzing the mistakes too long, we lose time, which can be used for opening programmatic truths. Do not be afraid to make mistakes, but it is better not to be mistaken.
USE OF OLD KPI
Timothy P. Carey, the senior director of sales in DataXu, engaged in marketing programmatic-solutions, believes that brands should not see the technology as a solely performance mechanism. It is necessary to refuse old KPI, because brands have to start revising of their key performance indicators. There are many other attribution models and KPI, which should be considered first.
In addition, according to Arun Kumar, who served as a president in Cadreon Digital Platform, which provides marketing services, the biggest mistake of many companies is that they perceive programmatic solely as a cheap way of media advertising purchases. Correction of this mistake is quite simple - replace the word "cheap" with "favorable", and everything will fall into place.
TOO FAST PACE
Brands do not have to rush at breakneck speed in the use of new technology just because everyone says about programmatic, arguing that every successful company must understand it. Before you adopt these strategies of data use and the technology of real-time buying, you must first weigh and analyze everything.
"We have clients who are promoting multiple brands," - says Adam Kasper, Marketing Director of North American branch of the company Havas Media. "All of these brands use different platforms, they do not communicate with each other through their first-party data, they simply do not interact - no one can guarantee that in this case programmatic will be successful and sufficiently scalable."
So before they begin to invest in technology which has not been used previously, the company must determine whether it is ready for it internally.
BRANDS DO NOT CREATE THEIR OWN DATA SETS
In one of the presentations Julie Fleischer, Director of data content and display advertising in Kraft Foods Group, says that brands need to create their own data pools, which help provide a competitive advantage. Programmatic initiatives must be introduced by brands and supported by agencies. However, the brands must manage the strategy, collect data and efficiently use the agencies in matters where they are competent.
DIVISION OF PROGRAMMATIC FROM OTHER TASKS
Programmatic doesn't have borders. Programmatic tasks should not be isolated, or a so-called "silo syndrome" may appear, which implies a complete dissociation of different departments - marketing, training of employees and the sales team.
92% of companies in B2B market find activity of sales marketing units insufficiently coordinated.
This absence of common goals and working communications between various departments that business literature defines as "Silo Effect", can lead to very disappointing results. In programmatic use of "silo" is meaningless. Grain should be mixed! Brands need to develop new tools for better understanding of the consumer, before turning the starter of advertising machine.
BRANDS DO NOT RETURN AFFECTION TO CUSTOMERS
Each company must remember the simple truth: it is extremely important to reward the consumer for the fact that he shared his personal data with it. When you are trying to establish contact with millennials or representatives of the younger age groups, you often face with the problem - users do not want to share their data. They are smart enough to know when you are collecting information about them. That's why the model of user behavior in this case is predetermined: "You collect my data, and what will I get in return?". The modern consumer wants it to be a mutually beneficial exchange.
In our time, we should be indulgent to all sorts of errors, especially if it is related with a revolutionary technology, which plowed new advertising ground. But analyzing the mistakes too long, we lose time, which can be used for opening programmatic truths. Do not be afraid to make mistakes, but it is better not to be mistaken.