Right now, the digital ad industry is facing an existential crisis.
Depending on who you ask, around a quarter of all internet users (at least in the US) use adblocking software.
The industry can put together as many task forces as it wants, but it won’t change the public’s perception of display advertising. As it stands, it’s an intrusion of people’s personal space.
How did we get to this?
In many cases it’s because brands and their agencies are focusing solely on data, and have forgotten about the essence of advertising – the message.
Using a retargeting platform which serves up a limited range of content to the same customer over and over and over again might end in a purchase in a fraction of cases, but more than likely turns people off from the brand.
The sad part is that it’s the brand that is being negatively impacted when a customer realises they are being bombarded with ads – not the underlying marketing technology or agency managing the service.
It’s a waste of resources, and it’s making a mockery of good, relevant, creative, engaging advertising.
We have the means to create something better. Using customer data, and content contributed willingly by those customers, we can serve ads that feel like they were created for that person exclusively – without feeling robotic. At Reevoo, we call it ‘Moment Marketing’.
Consider this scenario: A car brand’s data shows that a customer has started a family and they currently own a small hatch back. The ‘traditional’ way of retargeting is to show that customer images of the latest estate car – regardless of where they are on the purchase journey.
But, if we start using data and user-generated content in different ways, that process could be so much more engaging and personalised.
To start with, the parent is shown pictures of car seats by the car brand (who may not even sell car seats). Those pictures of car seats are real pictures, accompanied by reviews and stories from other parents. How much more trusting and engaging would that content be?
As the parent engages with that content, their actions trigger signals, which mean that a new type of content is then collected and shown to that individual – unique to them.
Maybe it’s mini-stories and images of how other parents have acquired larger cars and how much easier their life has become.
Engagement with that content on one of the family’s devices triggers new signals and new content. In the case of buying a car this process might take up to year or longer. It’s only at the very end of the journey that images of the latest estate car are shown – when the customer is ready for it.
What happens post purchase?
Instead of continuing to show images of the same car again and again, the brand now shows post-purchase content – educating and engaging – leading to increased advocacy and higher customer satisfaction.
For those jargon lovers out there, moment marketing combines two technologies: the now well-known data management platform and the more emerging dynamic content optimisation.
It combines the ability of these platforms to collect individual data and create hyper-personalised content (often user-generated), in real time, to meet the desires of a brands’ customers – wherever they are in their buying journey.
With moment marketing, the individual, the brand, the platforms and the agencies all win. They are all aligned – there is no spam, no damaging the customer relationship and no wasted inventory.
But it does mean that multiple platforms all need to work together. No one business can do it all (for now).