What does it mean to be an agency of the future? For us in ADA, it’s all about data the key component that drives modern digital advertising.
While 99% of global business decision makers agree that data is crucial, 62% don’t know how to turn data into valuable business insights or use it to build an actionable business plan.
To manage your data right, it’s essential to master the 3Ps, or three key pillars of advertising – Persona, Philosophy, and Personalisation. The right people (Personas) go hand-in-hand with the right data (Philosophy), both of which must be harnessed at the right time (Personalisation).
Get these right and you’re well on your way to unleashing the power of consumer data.
Personas, as Tony Zambito describes them aptly, are not profiles but archetypes. They are models of people and their behaviours; their patterns in buying and these buyer personas need to be constructed and understood correctly. You’re not going to market to a frequent business traveller the same way you do to a college student.
Remember too that personas are not fixed – they are merely models and models need to be flexible to keep up with trends and new technologies. Don’t get personas or profiling confused with stereotyping. The latter is assumption–based while building the right personas require deep analysis of solid business data.
Once you have your consumer persona, you need to ensure that you have the right information for each profile.
If you’re targeting frequent flyers, you would want to know their buying patterns:
Your data will be key in telling you who you’ll be marketing to, and how. Therefore, the data needs to be specific and it needs to be actionable.
Uncovering patterns will help you analyse target behaviour and then craft your marketing approach around them.
Using machine learning and our proprietary Data Management Platform (DMP) helps us reach a high level of precision when creating profiles, ensuring we’re targeting the right people.
The data sets mined from Xact, apart from telco sources, will be the foundation for persona building; you need to ensure your own datasets are in place to ensure your segmentation is done right.
Once you’ve created your personas, analysed, and strategised your outcomes, you then get down to the personalisation aspect. If you’ve got your persona right, your approach to data analysis right, then the proper actions will be made clear.
For instance, look at how you could personalise your data-driven marketing for three members of a nuclear family.
Being able to anticipate their needs ahead of time in this manner will create a better experience for these target personas, leading to favourable campaign outcomes. Instead of coming across as aggressively pushing a product, you are instead demonstrating you know what they need before they do themselves! Steve Jobs once said, “You’ve got to start with the customer experience and work backwards to the technology.” In these times, it’s all about using technology to deliver the best customer experience.
As the 3Ps demonstrate, data is king and it’s up to you to master it or be lorded over by those who already have.