More years ago then I care to remember, I entered the publishing business where I sold ad space for the leading electronics trade publication in the world. My boss at the time taught me that in order to gain a position of strength within a market; one must gain a wholly accurate understanding of what is going on within every market they serve. He explained that once you know what makes a company move up or down as a business, you can tailor your sales pitch to them specifically. Knowing the market is how my company at the time established our clients and served their business interests, which led us down the path to success.
Although much has changed since my time in publishing, one thing remains fundamental in marketing; the value of knowing one’s target audience. The more you know about your target audience’s decision making processes, the closer you can get to them when they are actively seeking to procure new products and services.
The internet has opened new doors in terms of getting to know one’s target audience because its infrastructure sits upon vast amounts of data that can tell us about a user’s behaviors and interests. Digilant makes it possible for B2B marketers to utilize this data as a basis for identifying companies and their collective interests. These insights ultimately allow for predictive analytics which can then be shaped into business outcomes for marketers. Digilant has the technology to create a new commercial highway of two way traffic between the buyer and the seller so that B2B marketers can finally know what resonates with their best customers and prospects.
With nearly 47% percent of consumers planning to do their Holiday shopping online according to eMarketer, and an estimated $61.8 billion in online spending between November and December 2013 (up more than 15% since 2012), retailers have the largest opportunity in Holiday shopping history to reach consumers via digital channels.
Beyond being the largest opportunity, it’s also the most important. Retailers must succeed in Q4 to maintain or gain market share, and transition from the red to the black. Luckily programmatic media buying and real-time bidding can help, offering a way for marketers to extend the cost effective reach of their digital media plans through audience segmentation, targeting and real-time valuation of online impressions. If you’re not currently leveraging the capabilities of programmatic media here are some reasons why you should consider it:
Programmatic: a buzzword that will likely follow those of us in the ad tech industry well into our future careers. But what is it? Mike Shields, at AdWeek, today tackles the question in an article titled Programmatic for Dummies. Mike and his contributors don’t actually come to a consensus on what programmatic is because the industry has skewed the term, but they do agree on one thing; that programmatic is here to stay. In fact, eMarketer estimates that by 2017 the programmatic media space will quadruple to $8.7 billion marketplace. But how can a growing marketplace lack a clear definition?
Digilant recently defined programmatic media in a white paper Navigating Planet Ad Tech, published in conjunction with MIT Technology Review.
“Programmatic buying is the automated buying of online advertising across the web, targeting specific audiences, often in real time. The term programmatic reflects the intended workflow improvements of automation. Programmatic buying enables impression by impression based buying as offered by automated marketplaces as opposed to the bundling of impression in CPM or thousands of impressions blocks. Prices may be determined by an algorithm, or pre-determined based on specified criteria.
[Conversely programmatic selling] is the automated selling of a publisher’s online inventory, usually ad space that was previously unsold; ramped up for audience buying with the help of first and third party data. It usually takes place through RTB, but not always. There is also some use of private marketplaces in programmatic selling which, although automated, still allows for one-to-one communication between publishers and advertisers.”
To learn more download the white paper for free here.
With nearly 100 million online advertising opportunities daily and nearly 6 trillion ads served in 2012 on a variety of platforms including display, mobile, social and video, digital advertising has become more complicated than ever to plan and buy. Along with the daunting number of advertising possibilities also comes an unfathomable amount of data.
Luckily advertising technology emerged in 2007, making the task of advertising online more efficient by providing a way for marketers to analyze, target and value online audiences in real time. However, the ad tech sector’s rapid growth and breadth of offerings turns out to be another challenging task for marketers, as they seek to understand the capabilities, differentiators and benefits of each of the players in the marketplace.
This guide offers a simple explanation of the players involved in ad technology, and it outlines their value propositions, business models and histories so that as a marketer, you feel confident in your choice to engage in planning and buying digital media using advertising technology.
Over the past several years, recruitment leaders have found themselves mired deeper and deeper in the Job Posting Quagmire. What used to be a highly useful recruiting tool has become a black hole of time, money and effort. Posting a job: so simple in theory. And yet, when you take into account the lost opportunities that occur throughout the recruitment process, the complexities come into focus.
The first stumbling block comes from posting each job as a one-off vacancy. The fact is most organizations typically recruit the same type of candidate over and over. The very nature of the Internet – an ever-changing consumable environment – makes it difficult to plan a longer-term solution for the need to repeatedly find a similar type of candidate. It’s time to take a cue from consumer advertisers and apply their customer “recruitment” techniques to the search for the best employees.
Consumer advertising has evolved to include what is widely referred to as programmatic buying, or real-time bidding (RTB). RTB allows advertisers to purchase online ad impressions in real time, ensuring their message gets in front of the right people, at the right time. This technology pulls from a number of disciplines – such as machine learning – layered on top of sophisticated software and hardware to create the ability to find the proverbial needle in the online haystack. The concept becomes simple: engage a qualified prospect repeatedly through various messaging until the message is effective enough to cause the desired action, in this case complete an online application or submit a resume.
In chatting with my HR friends, I’ve heard that online application drop-off rates are reaching upwards of 60% – and that’s just from the companies who are actively tracking the process. Cookies on a consumer site are smart enough to know when we’ve dropped off mid-purchase, so why not apply this knowledge to our applicants? We can utilize retargeting – the tactic of following past site visitors to other sites – to bring candidates back to your company. This is especially important when certain types of candidates, such as programmers, are in frequent high demand.
Another simple yet highly effective tactic is to expand the applicant pool using “look-alike” technology. This method finds users that exhibit similar behaviors or demographic profiles to already-engaged candidates. For example, what if a perfect candidate isn’t necessarily looking for a new job, but would jump at the chance to work for you? That person isn’t going to be on job boards, so let’s use look-alike technology to find that viable candidate and reach out.
RTB works across all online mediums. Mobile ads, tablet ads and pre-roll videos combine with traditional display ads to maximize message reach and frequency. In the case of recruiting, an HR department determines an ultimate candidate profile which is translated into a predictive model that runs on an algorithm. The algorithm scours the web, not just the job boards, to determine the sites with the lowest attrition rates and highest success rates. Additionally, all relevant and useful data is now the asset of your organization, not the job boards.
Next time, instead of falling victim to the aging process of luring candidates from a single site, take control of your own data and invest in a long-term solution to the recruitment revolving door.
Forbes published an article titled “Capturing the Hispanic Market Will Require More Than A Total Market Strategy” last week. It caught my attention because it touched on culture, and why marketers can no longer rely on simply translating English copy to Spanish to reach their audience. Today ‘culture’ consists of lifestyle, political, religious and social beliefs as well as values. To reach multicultural audiences effectively brands don’t necessarily need to create products that are specific to these groups; they simply need to create messages that identify with, and build trust among consumers by acknowledging cultural nuances.
I have to credit Digiday with this post. Here’s the list in short order, and it proves we really have been in Ad Tech a long time.
A recent article on Digiday asks, “When will Ad Tech Grow Up?” Ed Montes asked the same thing when he wrote, “Quality is in the Eye of the Beholder,” on ClickZ in 2011. Despite being ahead of his time, he hit the nail on the head regarding quality, viewability and cost of media. Find out more by reading his post.