Brands use advertising to feature their products and attract customers. An effective ad campaign will pique the interest of organic customers and convert them into paid sales. Advertising helps brands to promote their products and services and stand out among the competition. With an increasing number of options, global trade practices for the free movement of goods and services in foreign markets, and consumers who are more vigilant and aware of what they want, advertisers are seeking digital intelligence solutions through ad intelligence platforms.
Digital intelligence or DI helps in understanding the effective performance of an ad and apart from analytics, actionable insights are provided to take necessary steps to improve or design an effective ad that can increase the mileage of impressions and conversion rate of the traffic that comes to the eCommerce websites. Social media advertisements often even turn to physical sales where a prospective customer sees the ad and is interested to find more details in person.
Tech aided advertising
AI is prevalent in every facet of the industry and is improving the lives and process workflow wherever large amounts of data-centric roles are concerned. Automation of repetitive tasks is reducing the time taken and improves efficiency without human errors.
Even in the digital marketing and content management domain AI has shown effective solutions for advertising and driving up sales. Beyond the initial impetus, it is always the quality that has been delivered that will speak for itself and ensure returning customers for a brand. However, for initial decisions and analytics on a real-time basis ad intelligence platforms will aid in analyzing the ad and establish if consumers are connecting with the content.
Digital marketing uses many measures like cost per click, click rate per minute, and conversion rates to gauge the effectiveness of an ad. Sometimes the ad can be through a novice medium that has synced with consumers and other times it can be tried and tested mediums. Whatever the route or platform, social media campaigning is an active project and one cannot afford to be complacent. If a brand is complacent in reviewing its data, it can fall way behind before again making it to the top ranks in search engines for the particular space. Hence, it is important for digital marketing teams to consistently review the effectiveness of their ad and keep changing a few features to make them more relevant and trending.
Two-fold methods of DI
Digital intelligence solutions for advertising can be consistently improved through a two-fold method
- Back-end data relating to forecasts, projections, milestones, data for demand, consumer insights, and risk assessment for an ad campaign. It also gives data-centric metrics to gauge the position of the competition
- Front-end AI-aided solutions focussing on consumer feedback, questionnaires to gauge their expectations and experience, and brand-strengthening activities for consumer engagement.
Both methods are simultaneous projects that the marketing team has to use continuously to improve the brand image and make it more customer-centric, a low-cost high-margin model for the company, and stay ahead through focussed monitoring to overcome the risk of complacency.
Ad intelligence platforms lead the campaigns
With digital solutions that can help increase the ROI per campaign, digital and content marketing managers, have the heavy data-scanning issues automated to derive the following advantages:
- Review competition
To stay ahead of the competition, we need to know their strategy. The competitor’s strategy data is available with most ad intelligence platforms. It can be used to stay ahead of them and attract customers without losing margins. If the campaign of the competitor is ‘too sweet’, a strategic decision to avoid making the mistake is possible only because of the forecasts already available through the platform. Yet times not doing anything proves to be the best sense.
- Make effective ads
Knowing the competition and making the best two products are two important facets of the process, but it takes the ability to advocate one’s product to the consumers who are already spoiled for choices with attractive offers from scores of competitors, a brand needs to connect. Often ads can go wrong and even drive a negative sentiment. Though such incidents are rare, it is upon the marketing managers to be able to fire-fight such situations.
Using an ad intelligence platform will depict the data from the time it is started, the impressions created, and the returning visits from prospective customers and showcases the whole path from click-to-purchase to final placement. Without spending resources to acquire competitors’ intel, ad intelligence platforms give the advantage to crack the code and stay ahead in the market.
- Create brand equity
When brands are striving to give the best products that are in tune with consumers’ expectations, then there is equity created for the brand. This is goodwill and is regarded as an intangible asset in the financial statements of the company. Creating equity and protecting it is an ongoing process where a brand can never take a back-seat concerning the quality of its work or the advertising sense that is driven through marketing campaigns. An ad intelligence platform helps in checking a brand from probable actions that can go against brand equity. If a particular ad is having red flags that cannot be read by the team members but depending on past incidents and data, the platform indicates and red flags any concerns. Taking measures to avoid doing the wrong thing is as important as doing the right thing.
Advertising is an expensive yet effective means to increase the visibility of the brand. With consumer awareness on the rise in an age of information, the only way brands can stay in the league when vying for their attention, is through meaningful advertising that connects on multiple levels with them and allows a brand to maintain its space among a sea of competition. Ad intelligence tools will aid the marketing teams with the data and the budget controls that are required before initiating the campaign. Securing a budget for advertising and sticking to it is a remarkable achievement for the teams and the brand as a whole.