Earlier this week we posted an article on our blog on Programmatic Advertising and what it means for Marketers. This approach empowers marketers find new customers more effectively and generate more revenue from ad spend. In less than two months, one of our customers saw a 1000% improvement in view through revenue on ad spend and 15% increase in click to visit for their prospecting campaigns. Their Markie winning story was full valuable nuggets of information about their processes, their technology and their culture that marketers can take back to their own organizations:
- Be Metrics Driven and Track Everything: Customer acquisition is key for this team and they wanted to target the right customers earlier in the process. Once they saw that the audience was shrinking, they turned to programmatic media to help find the right customers. Once the data shows that you are no longer having the same impact (targeting and converting at the top of funnel), it's a sign to try something new. Ensure that your marketing automation system tracks all campaign activity and use analytics to round out the picture of what online assets also drive campaign response.
- Know your customer and build a richer profile: This organization focused on customers in their Member Program segment, an elite program for customers. They had some key verticals in mind to go after based on past experience (Healthcare, Education) and known profiles in the marketing automation system. They needed to create a richer profile that combined other attributes outside of what is typically offered between a two way marketing conversation between a customer and buyer. With Oracle BlueKai DMP, they were able to profile the target audience in ways that were not previously possible. For one audience, they were able to deduce that "executives" with "high spending capacity" were also "frequent domestic flyers". They created an audience that contained domestic flyers for certain routes and focused programmatic efforts on this audience which proved to be very successful for them.
- Integrate and Iterate: They connected their website, the data management platform, their data services partner and several campaign exchanges with analytics at every stage for real-time analysis and optimization. The DMP's Workspace functionality was key to combine analytics from multiple sources tracking campaign success onto a single platform The analytics were then pushed through the Funnel Analysis tool (also in the DMP) to optimize the cookie pool. Lookalike Tactics enabled this customer to look at visitors on their most desired landing pages and target people interested in their products. They also ran detailed analytics on every audience they created (including the one for frequent flyers) and dropped ones that did not perform well in terms of media consumption (click to view). The ones that performed well were then amplified and fed back into the DMP to help find new customers.
Over a period of two months, this company was able to incorporate programmatic marketing into their DNA and achieve awesome results. They credit Oracle's Customer Support, internal creative teams and agencies with enabling them to marry the data and content together in a meaningful way. Their 2015 Markie winning submission included a promise: committing to using Oracle's Eloqua and DMP closer to acquire new customers in a targeted manner and drive the same level of personalization throughout the customer journey. We will announce the 2016 Markie Finalists on March 22nd and I look forward to seeing if this team has kept their promise.
The Markie Awards celebrate excellence in Modern Marketing. The 10th Annual Markies are scheduled for April 26th during Modern Marketing Experience. The finalists for the 2016 Markie Awards will be announced on March 22nd! Follow @OracleMktgCloud on twitter for details!