November was definitely a busy month for advertisers, and our articles tried to keep up with their pace. Throughout the month we shared with you some programmatic advertising trends, explanations of popular terms, optimization insights and recommendations, and in the center of all those we placed Black Friday and Cyber Monday.
In this post we’ll summarize the most important takeaways you need to remember.
Let’s start by giving direct answer to the question at hand - the combination of Real-Time Optimization, Artificial Intelligence and Big Data helps advertisers execute a well-informed advertising campaign that is flexible, highly relevant and able to engage with their consumer at any touch point of their path to purchase. In the hectic days prior and during the last weekend of November such ability is the powerful touch that makes an advertising message stand out from the others.
Before we start revising the 3 elements we need to say that in the beginning of your campaign preparation time the most important thing you need to do is to be clear of your goals. What do you want to achieve? Who are your target consumers? How are you going to engage with them? The target list for Black Friday and Cyber Monday is long - Christmas shoppers, late-Christmas shoppers, occasional shoppers, frequent buyers, loyal customers, brand ambassadors and so on.
Our advice was to use the advanced targeting features in programmatic media buying. Don’t hesitate to give freedom to your ideas and create several campaigns to make sure you address all the different categories of your consumers. Most importantly - don’t miss on the chance to setup multiple strategies within one campaign. Indicate different geolocations, specify your target consumer’s interests, preferences and buying habits, set your preferred recency, etc. /read the full article here)
Naturally, what you want next is all your campaigns and strategies to be as efficient as possible. In this case you need to take into account the dynamic nature of our world today.
We live in a digital world where we seamlessly switch between devices. We’ve grown used to the easiness of the Internet, checking anything and everything right at the spot at any given moment. We can now go through our emails, read the news and Google a search just on our way to work in the morning. And each of these channels is a potential influencer in our buying decisions. Our journey as consumers never ends. It is a movement that is not linear, it doesn't have a beginning and an end.
You as an advertiser need to capture this movement and be able to engage with your audiences in real time, in the right moment that matters. Real-Time Optimization is what helps you achieve that.
The essence to Real-Time Optimization is to be able to react even to the smallest change in your advertising campaign development and real-time market environment.
Real-Time Optimization helps you for example:
Adjust your budget throughout the day
By using Real-Time Optimization you can take advantage of the always changing market movement and optimize your bids to be more flexible. For example: set your bids to be more dynamic, to buy cheaper when there is no rush hour and to be more aggressive when there is more traffic.
Adjust spending per location
Optimize your strategies in relation to the specific geolocation they are targeted at. Each country, each city and province has its own particular characteristics you need to consider. Make sure to tailor your campaigns to be relevant to them. People in London will be interested in some type of promotions that those in Sidney might ignore. Winter sale on coats and boots? Sounds great but not when the weather is around 30 °C.
Adjust spending by target consumer
Define who are your target consumers and what they need. Are they early Christmas shoppers, excitement seekers, “get it all done at once” type of people, or others? Take this into account and optimize your ads to give to your consumers what they’re going to look for in you. /full article you can read here)
But how can you be able to do that? If you have 15 campaigns with 5 strategies each that means each day you need to monitor 75 strategies altogether and make important decisions how to adjust your spending on all of them. This is a small example, in practice some advertisers expand to have campaigns with over 100 strategies each. The number of strategies alone is enough to pose a challenge but there is also the ability to react in real time. How can you alone be able to react in real time for all strategies?
To help advertisers overcome such obstacles and unlock the true potential of their programmatic advertising campaigns, there are advertising technology solutions such as the Artificial Intelligence Campaign Optimization Engines.
Powered by Machine Learning algorithms, these A.I. engines explore the vast realm of data - yours, the market’s and your consumers’ profiles - and continually learn from the information they’ve examined.
Based on this knowledge they can make split-second decisions to determine how to proceed with your campaign. Meaning, they can decide if the user at the other end is a good opportunity for you, with which of your offers it will be best to engage with him, what is the optimal price to bid for the spot, has the user shown previous interest to your brand, in what time of the day and in what place he is in, in what context is his search, etc.
So if you have a promotional campaign for Cyber Monday on your winter coats line, you can be sure that the engine will know how to bid to win you a chance to show your ad for men’s coats to a man living in Berlin, who has checked your website few days ago and is currently browsing to buy a new coat. All that in the right moment when he is Googling again his search on his way to work.
Another powerful feature of the optimization engines that we must mention, is that once activated, they have constant market presence. There are no office hours for them, no time differences to consider, no lunch breaks. Remember the adjusting by time of the day, geolocation and consumer profile? This is how you can make sure that each of your strategies takes these elements into account and is always optimized to act on the best way possible. /read full article here/
In the heart of all this lies Big Data. Each action of the Campaign Optimization Engine is backed by a well-informed decision based on comprehensive Big Data analysis.
We keep hearing about Big Data and how we are surrounded by it, that it has many strategic implications, and so on and so forth. Putting all definitions aside, what you need to remember about Big Data is that it is an ocean of knowledge. It is your way to avoid assumptions and guesses and know, really know, the when, where, who and what of your advertising strategy.
The challenge is that we as humans can’t process data ourselves in a way that will bring us effective results. Not unless we have thousands of years to go through the information overload circulating in the web, our own collected data and then merge all of them together, analyze them and make wise decision based on them.
The algorithms of Campaign Optimization Engines are built to process these billions of data points in manner of seconds. They explore and analyze the vast realm of data and extract the most useful information for the advertiser’s needs. These could include: building new richer audience segments, getting more understanding of user’s behaviour and preferences, market patterns (when is the best time to buy ads and at what channel), feedback on advertising campaign performances, etc. /read full article here/
This is way Artificial Intelligence holds the future of our industry. As researchers in the field of Artificial Intelligence, Machine Learning and Applied Mathematics we in Skylads have always believed that technology is created to help people, that the driving force of the innovation has always been the desire to expand our human capabilities and achieve more.
Real-Time Optimization, Artificial Intelligence and Big Data are the next step in our search for better advertising and better consumer experience. And this applies not only to Black Friday and Cyber Monday advertising strategies but to our entire experience as advertisers and consumers.
Although we are still in the early stages of technology advancement, we are already able to achieve so much more than what we could do just 10 years ago. If you’re curious to discover what else Artificial Intelligence and Real-Time Optimization hold in store for you, you can also check: