Digital advertising has changed the way marketing is done. We no longer have to wait until after a campaign ends before collecting data, analyzing, and modifying ads. Today, thanks to new technology, we can see in real-time what is working and what isn't, enabling us to use this data and adjust our campaigns accordingly to ensure goals are met.
What is Data-Driven Marketing?
Data-driven marketing works by using the latest technologies available to collect data in real time and then apply this data to create highly personalized ads. This allows you to target specific locations, demographics, timing, and placement to ensure the right people see your ad at the right time. While we’ve mentioned data-driven marketing for our ads, it can also help all marketing campaigns, including email and social media marketing.
When it comes to interactive ads, each element provides us with analytics that allows us to continually enhance the ad. We can examine if users interact with specific aspects of an ad, whether it be the call-to-action (CTA) or a playable section. Each playable area can tell us something about the users. We can see which characters are often selected, which levels draw more users, or which boosters are most common. Therefore, we can know what changes to make to reach our goals. We also consider more traditional data such as click-through rates (CTR), engagement rates, completion rates, and install rates. This allows us to analyze each section, from what colors we use in the interaction section to what the CTA says, and adjust accordingly.
What are the benefits of Data-Driven Marketing?
By using this style of marketing, every decision is supported by data ensuring our partners meet their goals. In a recent study, companies that exceeded their revenue goals used data-driven marketing 83%of the time. Companies also typically spend less when using data-driven marketing as their ads are more targeted, allowing them to focus their time and efforts on the right audience. Businesses that apply data-driven marketing are known to deliver five to eight times the ROI on marketing spending.
At AdLiven, we use data-driven marketing to optimize every element of our ads. Once the ad is live, we collect and analyze all data available and present this to our partners, as it offers them an insight into what users are being drawn to. Based on this information, we advise our partner on how to move forward to best increase the ad performance. Data-driven marketing is the future and will continue to evolve as new technologies develop, as64% of marketing executives strongly agree that data-driven marketing is crucial.