What Does It All Mean? Top 3 of Some Industry Buzzwords
A characteristic feature of the AdTech sector is the chain of terms, ideas and definitions that are continuously used in its industry-language. Starting with some of the most used ones, here is our first top 3 of the much beloved buzzwords we keep hearing about:
Acting on informed decisions is not exactly a new trend in the advertising world, or any business world for that matter. The AdTech industry only improved the process and gave it a bit more technologically name - “data-driven”. Thanks to programmatic advertising technologies, advertisers are able to enrich their decision-making with more advanced and detailed information on their targeted audiences and market dynamics. Thus data-driven advertising takes the form of making advertising decisions based less on assumptions, and more on actual concrete information. When you know who to target, when and with what offer, this knowledge has more chance to lead to higher response rates and stronger sales. To discover more about data-driven advertising, you can also read our article “Now is the Time for Data-Driven Advertising”.
A strategic approach related to the data-driven advertising. It means adjusting the way you communicate your offers in accordance to your audience characteristics. These include purchase patterns, preferences, demographics, past behaviour, etc. By investing in the right set of programmatic technologies, advertisers are able to gain in-depth and more complete information on their target consumers. Data Management Platforms, for example allow advanced level of Big Data mining, audience analytics, audience clustering, integration of offline, CRM and third-party data to help advertisers build such knowledgeable profiles on their prospects.
Multi-channel and Omni-channel strategy
Multi-channel strategy stands for communicating the advertising offer across different channels of interaction - e.g. social media, web, emails - in order to reach the desired customers. Most brands however don’t necessarily focus on delivering consistent message across the channels and the process of advertising becomes siloed. Omni-channel strategy is the way to create a seamless consistent customer engagement across the multi-channels of interaction. And why should you do that? Because for the consumers there is no difference between the channel and device through which they connect with your message, for them what is important is the message itself. Omni-channel strategy allows you to see through the eyes of your consumers and helps you build an integrated, consistent advertising process for more complete consumer experience.