Data - The Gift That Keeps On Giving

Posted by Rhiannon Farrar on Nov 2, 2017 2:17:14 PM
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Data is one of the greatest gifts marketers can receive. A gift that provides insight into who consumers are, what they’re looking for and how they’re buying. During the busy holiday period, the effective use of data driven marketing drives increased traffic, site visits and revenue for advertisers. However, it doesn’t end there, after all, data is the gift that keeps on giving.

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Data can be used to create brand affinity, a relationship between the advertiser and the consumer, that enhances the likelihood of a consumer becoming a repeat purchaser. Why is creating brand affinity important? Rakuten Marketing data indicates that 27% of first-time purchasers will purchase a second time; 45% of two-time purchasers will purchase again; and 66% of those who have purchased five times will purchase again.

How can advertisers maximise their data and create brand affinity during the holiday season? Simple, by letting the data guide you through. 

Customer Acquisition:
Throughout the competitive holiday period advertisers are competing to capture the attention of consumers. Advertisers must be on the offensive, and get ahead of their competitors in proactively driving new consumers to their site. 

Finding customers, both new and existing, requires the right data and prospecting strategies. Advertisers should look to employ:

  • lookalike targeting
  • direct behavioural & demographic targeting
  • search retargeting
  • contextual targeting
  • hyperlocal targeting

Personalisation:
Earlier this year Rakuten Marketing surveyed consumers about their experiences with online advertising, and discovered that 64% of Australian consumers believe that online advertising has gotten worse. Further to this 70% of Aussie consumers said they have been served ads for products after having already purchased.

At a time of year when the market is saturated and consumers can often feel bombarded with advertising, marketers need to ensure they are working with providers to produce the best possible advertising experiences for consumers. Our survey didn’t only depict negative consumer attitudes, we discovered that 80% of consumers want advertisers to know that advertising is OK, and that consumers are craving greater personalisation towards likes, lifestyle and interests.

Personalisation is no longer a new trend, it’s a must-read chapter in the marketers playbook. Marketers have a plethora of data available, this comes in the form of first, second and third party. By harnessing the data available, marketers can create advertising experiences that are relevant and engaging to the consumer.

Attribution:
With the average consumer journey involving 10.9 marketing touchpoints, marketers need to ensure they are accurately measuring the value of their campaigns. Without attribution measurement, examining the value of campaigns can be difficult.

And if you’re not measuring campaigns appropriately you might not be making the best budgeting decisions, you’re at risk of under or over investing. Attribution provides marketers with a view of performance that may be lower in the funnel then what is measured by a last-click model. Specifically, marketers can examine the impact of new customer acquisition strategies through:

  • site traffic
  • new to file customers
  • time spent on site
  • new visitors
  • lifetime value
  • click-through-rate

Furthermore, Attribution is what elevates good data to great data. It allows marketers to not only asses campaign performance, but consumer behaviour, providing insights which can be used to further enhance online ads and the consumer experience.

By successfully employing customer acquisition strategies, personalisation and an effective attribution solution, advertisers can increase their brand affinity and continue to drive revenue during the busy holiday period.

Want to get more from your data? Speak to one of our experts today rm-salesapac@mail.rakuten.com or visti rakutenmarketing.com.au 

Topics: Attribution News, Display News