Three Benefits of a Healthy CRM–RTB Marriage
This column is authored by Mollie Spilman, evp, global sales & operations, Millennial Media
Let’s get personal. How much do you really know about your customers? Probably more than you think. But, are you using this data in ways that are actionable and leading to improvements in your bottom line? The most successful mobile advertising campaigns rely on data. Lots of it. Programmatic buying, one of the industry’s latest buzzwords, brings a whole new set of opportunities for brands to leverage their data to reach consumers in real-time and see real-time results.
Starting with the basics, programmatic buying is the automated purchase and optimization of digital ad space, often in real-time. This approach allows marketers to target consumers “in the moment” based on the context in which they are seeing their ad. Until recently, programmatic advertising was used to trade only desktop ads, however, the trading of mobile ads is quickly accelerating. According to a Magna Global report released last October, globally 68% of mobile display was traded programmatically in 2013 and is forecasted to rise to 88% by 2017.
As the digital landscape evolves, and consumers seamlessly jump between devices, it becomes harder for marketers to have those 1-to-1 connections at the center of customer relationship management efforts. And mobile specifically – with its myriad of devices, fragmentation, and lack of a persistent cookie – proves especially difficult. This is where the benefits of matching CRM data with real-time bidding come into play. Let’s take a look at three benefits to a healthy CRM – RTB marriage.
Gain Transparency in Private Marketplaces
As you gain customer insight over the course of your programmatic campaigns there are plenty of ways to make that data work for you. Private marketplaces enable buyers to bid on very specific inventory with increased transparency and predictability – even in an exchange environment. Sites are brand-safe because they are known to the buyer where they ensure brand alignment.
Capitalize on Intent
If CRM data is already implemented into an RTB-based campaign, impressions can be retargeted. Retargeting – which involves serving an ad to someone after they’ve completed an action, such as visiting a mobile site or app – further leverages CRM data within an RTB platform. At its core, retargeting is the result of consumer intent. You’ve already made an investment in reaching this customer. Whether they’ve visited your mobile site or app, completed a form, or made a past purchase, make that investment pay dividends.
RTB lends itself to near-instantaneous results and analytics. Through machine learning, advertisers can view the results – impressions, click-through rates, conversion, and more – immediately. This level and speed of understanding lets advertisers make more agile game-time decisions and alter campaigns based on consumer behavior.
Remember: advertising is only as good as the data it leverages. When marketers add CRM data to an already data-rich platform, they can expand their audience beyond regular customers to also include prospects.