The COVID-19 outbreak has dramatically changed the marketing landscape. Many marketers across industries are witnessing massive budget cuts. Furthermore, they are also expected to increase the revenue contribution while having fewer resources at their disposal.
Today’s marketplace is also much more competitive. Meaning, it is important for brands to step up their digital marketing game and create messages relevant to their customer’s moment and context. Also, marketers must create many variations of content which is tailored to an individual irrespective of the platform they are using Facebook, Instagram, Twitter, YouTube, etc.
Complete dependence on the production houses to design and build creative variations can push up costs, as it will need experts who can conceptualize, create, and develop customized pieces. However, if brands opt for automation, they can accelerate the process of creating better content that adds an extra layer of personalization to marketing campaigns.
Automation allows brands to create endless possibilities with ad and content variations. Tools such as dynamic creative optimization (DCO) technology enables brands to create millions of creative options customized to the audience on an individual level. In return, this increases the chances of converting, selling, and building brand loyalty with individuals.
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Brands which desire to take a plunge into the world of automation to leverage the technology and to increase their chances of success with conversion, sales, and brand loyalty should take the following steps:
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Self-Assessment
Before delving into the world of automation to achieve omnichannel personalization using automation, it is essential for brands to assess their maturity level. Few questions that will help the CMOs to assess if automation can help them are:
- Are the A/B testing done by marketers creative without using much data? Do brand marketers optimize variations of the ads?
- Does the marketing team personalize the messages based on customers’ genders, age groups, and geographical regions?
- Do digital marketers incorporate behavioral data from the brand’s website for retargeting?
- Which platforms do marketers use for creative versioning and prospecting and how effective are they in consumer engagement and generating leads?
2) Data, Channel and Optimization (DCO)
For a DCO to yield the desired results, the three necessary components are in-depth data, a broad array of channels, and artificial intelligence (AI)-enabled optimization.
Brands should establish in-depth data points using customer relationship management (CRM) software and from first-party data. Next, it is crucial to distribute personalized messages across all touchpoints such as display, social, video, website, email, etc.
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Once the above two pieces fit right in, brands should add AI-enabled optimization to complete the jigsaw. AI-enabled optimization allows marketers to improve their campaign performance specifically based on in-the-moment performance as opposed to when the campaign is over.
3) Forging Alliance
For long, it has been predicted that third-party cookies will face extinction. When that happens, it is essential brands choose an automation partner that helps to evolve after third party cookies are phased out.
One way to assess whether the automation partner is prepared for future changes is to see how they are using first-party data to replace third-party cookies, such as data from the first party-based identity. This will help see whether their automation technology can truly deliver an enhanced customer experience.
The marketing landscape is witnessing a drastic change in today’s economic crisis. Having automation technology to increase the needed growth and revenue on a strict budget helps brands adapt and evolve in the new age of business.