At the 2015 Addictive Mobility Mobile First Strategy Forum, Naveed Ahmad, CEO, opened the day with a lesson on how mobile advertisers can build a better audience. Today, everyone is trying to build a better audience – MCCM platforms, agencies, DMPs, brands and tech platforms. All these competing players say that they have the advantage and are able to help marketers by being able to build that audience. However, there are three major obstacles in creating audience profiles – integrating customer data points, understanding the data, and leveraging that data. The more data you are able to collect and understand, the sooner you will be able to build a better audience for your brand. The data you collect today is what is necessary for targeting in the future.
A great example of this is Under Armour. They spent $710M acquiring three apps – myfitnesspal, endomondo and mapmyfitness. All of these apps collect user inputted data around fitness and healthy habits. By acquiring these apps, Under Armour has ensured that it has a steady stream of data that can be leveraged to increase sales of athletic apparel. “We were able to determine all of the frictions that stop people from living a healthy lifestyle and wanted to build those insights into messaging for our new content initiative”, explained Tara-Nicholle Nelson, VP Marketing.
There are many ways to reach today’s omnichannel customers. Once your customers has downloaded your app or interacted with your brand, it is equally important to retain that customer as it is to continue to acquire new customers. Acquiring a new customer can be 5-7 times more expensive that up-selling or engaging a new one. Once you have acquired a customer, you want to be sure you are providing them with relevant digital content. 41% of consumers are willing to share personal information in order to get relevant offers or discounts. Through engaging customers through relevant content, you are able to create social media advocates. These advocates $9.60 averaged earned media value per every $1 of paid media spend.
In order to build those audiences and effectively target them, we have broken it down to the six questions every brand marketer should be able to answer.
1. Who is your audience? By using CRM data and buying trends, you are able to create personas beyond the basic demographic data of who interacts with your brand. These personas form the basis for audience marketing.
2. Where to buy media? The average user spends less than two second viewing a brand between different touchpoints. Traditional media channels (television, print, display) offer only one-way communication and limit user engagement with the brand. Mobile is not only the first screen, many consumers see it as an extension of themselves. 50% of daily media consumption is on mobile devices. Of that time on mobile, consumers are spending 86% of that time in-app which is why 75% of mobile ad spend is being spent in-app.
3. When to buy media? If you don’t buy media at the right time, you risk your audience next getting your message. 44% of smartphone or tablet users across all age groups checks their device every 30 minutes. The highest usage of mobile is during the morning commute and tablets usage peaks at night. Through day parting and knowing when your audience interacts with your brand, you can ensure your messaging is reaching your audience at the right time.
4. What are your audience’s wants and needs? Answering this question is critical to converting your audience to becoming brand advocates. Reaching out with the wrong offer, even at the right time and place, your customers can feel like you don’t know them or that you are spamming them. Amazon, Netflix and Hotels.com are examples of brands that do a great job in putting relevant offers and recommendations in front of their customers.
5. How to deliver your message? User preferences relevant content engagement response
6.How to measure what matters? Last click attribution fraud and viewability metrics increased revenue return on ad dollars spent brand reengagement
By answering these questions, you have the best chance of converting your customers into brand advocates.