Owned – or 1st party – data sources offer a big opportunity to improve the performance of targeted advertising. Taking advantage of CRM- or Web Analytics data in advertising can support either strategic goals or tactical performance, or both.
Data-driven marketing tries to match the right message with the right person at the right time. Owned data can help with the selecting the right audience and the right timing.
1st party data works because you know for sure who are the people that are the best customers. Advertising platforms such as Google or Facebook allow leveraging this knowledge to find similar but new customers through advertising.
Finding the right timing is more about cost-efficiency. The majority of ads are ignored because they try to sell at the wrong time. This is why timing techniques such as re-targeting can have a significant effect on efficiency-related metrics like Return on Ad Spend.
Successful execution requires ability to tailor messages for different customers and different touchpoints. Achieving this is not easy so we usually recommend going forward in small steps. You may have already been doing re-targeting campaigns, which is a good starting point for further development. Next steps might involve having multiple re-targeting segments, adding product recommendations to the mix, or leveraging CRM data more systematically.
Why Nordic Morning?
Targeted advertising requires in-depth knowledge of various data sources and advertising platforms. We have in-depth knowledge of CRM-systems, analytics tools and advertising platforms so we can offer full service to organizations that wish to take full advantage of today's possibilities.