As a digital marketer, you are asked to create display campaigns that positively affect brand awareness. You are asked to make optimal use of your advertising budgets by market. You are asked to analyze customer behavior and media consumption.
So how do you get there? Data and analytics are keys, according to Sandro Catanzaro, founder and SVP of Analytics and Innovation at DataXu — and shared four ways to use them to improve digital marketing.
1. Gather Real Time Consumer Intelligence
What's today's digital marketer up to? You've got the technology. You've got the platforms. You can learn more about message saturation or opportunities to further scale efficient investments by using specially shaped ad campaigns, Catanzaro said.
"They leverage techniques such as experimental design to prod consumers and measure how different product value propositions affect different segments of consumers," he added. While digital marketing may have already provided benefits by creating objective and continuous measurement of results, Catanzaro said, those measurements represented a passive collection of results.
The advantage to gathering real time data is proving causality, quickly and cost-effectively. Proactively change specific variables (e.g. value proposition, investment levels). Keep all others constant. Measure the effect created downstream.
By doing this, "it is possible to reproduce the formality used in clinical trials, and thus, derive a causality link between variables and outcomes," Catanzaro said. "... Software is helping marketers get to know their customers better than ever and to cost-effectively create insight in days, instead of months."
2. Understand Media Consumption Patterns
Every day, consumers are more and more “multichannel." They eat up media from all different angles. All different times of the day.
DataXu created the graph below that analyzed consumer media consumption behavior during a day. The vertical axis in the graph below shows the intensity of activity:
What were the key takeaways?