Taking advertising more seriously
By: Jeremy Sneed
2020 is the year for change.
2019 just doesn’t have that ring to it, that jingle. 2020, however, is so much more aesthetically and euphoniously pleasing. Already it’s all we hear as we talk with clients, friends, and family. It seems as though 2020 is going to be everyone’s golden year.
We have some 2020 resolutions of our own that we concocted on behalf of those in our industry. As we said in our last post, 2020 is the future. Now that we all live in the future, it’s time we start acting like it.
Digest El Toro’s 5 Advertising Resolutions for 2020.
Resolution 1: Rely on Your Existing Audience
El Toro’s original IP Targeting technology is powered by our client’s CRM and customer acquisition lists.
Typically for this process, our clients bring to us their data. The only item of data we need behind the consumer’s on your list is their physical address. Our technology takes the physical addresses given to us and matches them with their correlating IP addresses. We then target these households with digital ads, serving them through the household’s IP address, more simplistically known as the address associated with the in-home wifi.
The key here is, you don’t need a new audience base for your advertising. You don’t have to worry about trying to garner new customers for your business through every ad campaign.
For 2020, rely more on your existing audience base.
Repeat customers are a gold mine. There’s quite an accumulation of data behind the argument of retention over recruitment for the sheer reason that retention is more cost-beneficial. Some statistics state that repeat customers are worth around 10x what their original purchase was valued at. Research also shows that after the first purchase with a brand, a consumer has a 27% chance of making another purchase with that brand, compared to the typical 2-5% conversion rate. After a second or third purchase, the number only increases. At that point, that consumer has a 54% chance of returning for another purchase.
Another great benefit behind your past customer base, they’re recession-proof. A recent study found that customers were surprisingly even more likely to stay brand loyal during economic hardship.
2020, utilize your existing customer base, make sure you have the necessities for our digital advertising, and let El Toro do the rest. We target your consumers with more precision and accuracy than any leading competitor on the market.
Resolution 2: More Growth
Your customer base is fantastic, and one of the most powerful tools that you have. However, can’t we all make the statement that we’re looking for growth? It’s the forefront of advertising: getting businesses, brands, and messages out to the public. With quality advertising, we’re raising awareness, driving profits, and increasing the customer base of our clients.
Given that your customer base is fantastic, and that repeat customers are vital to a business, why not work more on gaining new customers?
For 2020, keep an eye on growth.
Advertising through El Toro doesn’t just mean CRM targeting. We have products designed specifically for targeting your ideal consumer base. Take a look at Venue Replay, or Digital New Movers to see how you can engage in finding new consumers for your brand.
You can even lean on your current customer base for driving this growth in your audience. Our Digital Canvassing technology is built to find the neighbors within a 500 square meter radius of your consumers. Through this, you can pull consumers with similar characteristics to your existing audience.
Resolution 3: Try New Things
Advertising isn’t what it used to be, we’re continually moving beyond billboards and newspaper ads.
Now, advertising is more like a work of art. The advertising technologies that we have been able to invent have been revolutionary. We’re constantly bringing our advertising up to speed with the never-ending changes in technology.
For 2020, start to expose yourself to what there is to offer.
With our advances in the ad tech industry, we’re targeting people in ways that advertisers used to only dream of.
Today, you can target someone based on specific places and locations that they’ve been to. Through Device ID Targeting, we can target someone based on anywhere they’ve been with their smart device. We can target someone because they neighbor one of your customers. We can target not just a business, but every single person in that business. We can target someone based on their voting history. We can even target someone because we know they’re in the moving process.
Not only can we target these highly granular audiences with ads, but we’re doing it digitally. We’re not just sending a piece of mail, we’re constantly popping up across their devices with your brand and messaging. When we target people, we’re targeting them on their smartphone, their tablets, their computers, and any other smart devices. We target them not only on their smart devices at home but after they leave the home as well.
IP Targeting is revolutionary, and the technologies that accompany it are beyond incredible.
2020 is the year to indulge yourself in the power of modern approaches to digital advertising.
Resolution 4: Take Analytics Seriously
If you’re unhappy with the performance behind your advertising, you’re doing something wrong.
Too often people are getting reports and assessments from their ad campaigns that aren’t giving them the full picture or that they’re unhappy with.
For 2020, take analytics to heart.
After a campaign, you should find yourself with clear answers about campaign performance. A direct correlation can be made between your ads served and the conversions derived. If you’re not seeing conversions, look at what can be done differently.
Could you refine your audience? Are your creatives built with optimal design and messaging for impact? Is your budget set for ideal frequency?
Here’s the thing, analytics should be simple, either your campaign is performing or it isn’t. Don’t get lost in the array of numbers that can be thrown at you during and after your campaigns. Look at the performance, is it working, or is it not? If not, change things up, don’t allow yourself to get stagnant.
2020 is the year for taking campaign performance seriously.
Resolution 5: Don’t Settle for Less
Whether it’s campaign performance, growing your audience base, or trying new things, the key resolution for 2020 is to never settle for less.
When it comes to advertising, hold your advertising and those managing your advertising accountable.
Don’t settle for less in your analytics. Your ad campaigns should hold transparent and streamlined analytics behind them, both during and after your campaign deployment.
Don’t settle for less in who you’re advertising with. Find out from your advertising outlets what exactly makes them unique. How does their advertising work exactly? Is it up to date with modern data-regulations? Can they tell you the specifics of what they’re doing?
Don’t settle for less in who you’re targeting either. Any advertising outlet worth spending money with should be able to tell you exactly who they’ll be targeting with your ads. Ask your advertiser for a list of who they’re going to target even before a campaign. Don’t allow your campaigns to be a victim to less than quality advertising.
For 2020, don’t settle for less when it comes to your advertising.
There’s beauty in transparency. Don’t be confused or displeased with your advertising. Ask questions, see what you can do to ensure your advertising is built for success.
2020: The Year for Quality Advertising
Overall, let your New Year’s resolution be to invest in quality advertising.
Whether you apply some or all of our New Year’s resolutions, let one thing resonate, never settle for less.
Your advertising should help bring growth and prosperity to your business. Take our resolutions and bring certainty to your ad campaigns.
By: Jeremy Sneed