In this installment of Canadian Growth Hackers, Vitaly interviews David Jowett, partner and head of Media at No Fixed Address. They discuss the evolving role of the marketing agency vis-à-vis brands, technology, and the opportunities agencies have in coming years. The interview originally appeared on Betakit.
In the world of self-serve, getting to know a platform and mastering its nuances can become a daunting task. Even for the most well-versed ad-tech professionals, using a complex buying platform can take some getting used to and usually requires some form of training. Learning how to use the platform can be straightforward, but for comprehensive training and strategizing, personalized help from the experts in required. This is why Customer Success Managers (CSMs) for self-serve demand-side platforms (DSPs) are as important as the functionalities in the DSP itself.
Customer Success has emerged as a key service offering of any technology organization, as it allows for a bridge between the internal product, tech teams, and the user. CSMs form relationships to provide client-focused insight, while offering a new point of view through strategic guidance and recommendations. A CSM is an internal advocate for their customers, and also acts as an extension of their team.
We’ve identified 5 reasons why having a CSM is so important for self-serve platforms. Let’s explore:
1. Allow you to gain a competitive advantage
Customer Success Managers have industry insight to help navigate the complexities of digital media. Based on where your organization is today, and where you need to be tomorrow, CSMs consider the entire ecosystem to ensure you move quickly and keep up with trends while reducing risk along the way. They can educate your team on industry buzzwords and topics that could be causing roadblocks in campaign strategy planning. If your team is stuck in the CPL debate – and whether it’s an important metric – CSMs will help you answer that question and settle the bet. Their main goal? To ensure your use of the platform is aligned with your goals and objectives.
2. Help maximize the use of your platform
Beyond giving you insight into what is going on in the industry as a whole, the key role of a CSM is to help you think outside the box with the self-serve platform your team is using. Whether it’s providing a second set of eyes on your campaigns to ensure everything is set up correctly or highlighting valuable features you may be overlooking, the CSM’s goal is to ensure you are using the tool as efficiently as possible. Ensuring maximum use includes in-depth, one-on-one training — beyond help centre articles.
3. Provide insight into unique campaign strategies
Specifically in the programmatic space, using the features in a DSP is an art. In many cases, some features are designed to be used in combination with others. CSMs will suggest specific campaign tips to aid the success of your marketing initiatives, but will also offer insight into how features or tactics can be leveraged in tandem – for example video retargeting or sequential messaging. CSMs also suggest new ways to explore tactics you are leveraging, such as using custom segments with your audience targeting. They are also a great resource for providing A/B testing strategies against campaigns you may be running elsewhere, to ensure you’re not wasting any dollars while you test.
4. Make integrating with vendors a breeze
CSMs are devoted to better understanding your unique environment and technology journey, working collaboratively with your team to provide the best strategic support. This includes working with the platform’s features, as well as its integrations. In the world of programmatic buying, this may include integrations with analytics platforms, 3rd party segments, and direct deals with publishers, or private marketplace deals (PMPs).
5. Take the hassle out of transitioning platforms
Signing up for a self-serve platform is the easiest part of the process. In many cases, marketers are transitioning between products, which can sometimes be more difficult than simply starting from scratch. CSMs know this, and do whatever they can to ensure the transition is seamless. They offer the right resources to support the effective adoption of the new platform in your organization, helping you ramp up faster and with greater ease. Based on how you were using other platforms, CSMs will highlight the similarities and differences to ensure you understand how to switch your strategies and daily tasks to align with a new system.
Can you tell we love CSMs?
Customer Success teams are immensely valuable in the technology space, especially with self-serve platforms. The team’s main goal is to provide personalized, proactive support designed to address business-critical environments, minimize risk, and accelerate adoption. If your technology partner has a Customer Success team, it’s a great idea to reach out and catch up with them to ensure you are not missing out on potential campaign optimizations or integrations.
If your organization is using a platform that does not offer customer success to back your team, it might be time to consider one that does.
StackAdapt has a dedicated Customer Success team for all of its clients. Not a StackAdapt customer? You’ll definitely want to be now – get started today.
Having worked in ad tech for several years, I regularly encounter advertisers who use “the big three” digital ad platforms (Google, Facebook and Amazon) as a strict benchmark for how much they’re willing to spend on advertising to generate a new lead, otherwise known as cost-per-lead (CPL).
That said, CPL isn’t everything. As Kelly Goldston, VP of Marketing at Eloquii, eloquently put it “just looking at acquisition costs by channel can be misleading.” The reason is simple: each channel may generate leads at a different cost, but these leads are also pulled in at different stages of the marketing funnel.
Let’s consider an example: it may cost you $10 to acquire a lead from paid search and $15 to acquire a lead from programmatic display. However, the lead generated from display may be further along in your buyer journey, and thus, of higher value.
Know Your Numbers
So how does one determine which channel is the most effective at driving higher value leads, you ask? It’s all in your customer acquisition costs (CAC). In its simplest form, CAC is a calculation that looks at your acquisition costs (e.g., marketing expenses) divided by the number of customers (not leads) acquired during a specific period of time. To break this down further, if your company spent $100,000 on marketing in a year and acquired 100 customers, your CAC would be $1,000. However, the math isn’t quite this simple.
In his blog post on Customer Acquisition Cost, advertising industry veteran, Neil Patel dives into detail on how to calculate your CAC by marketing channel (i.e., search, social, programmatic). He also explains how to more wisely earmark your media spend so you’re not allocating budget under the wrong pretences by focusing on CPL alone. Patel considers variables such as customer lifetime value (CLV), attribution models, word-of-mouth referrals, as well as meals and entertainment expenses that go into selling, all of which collectively impact your calculation.
Remember: all leads are not created equal. Is a qualified lead someone looking for more information or someone ready to buy? Some leads require more education and nurturing, whereas others are ready to flip the switch right away. Therefore, even if you acquired a lead at a “cheap” price, you may end up spending more in the long term, driving up your true acquisition costs. This is why it’s important to consider the time, resources and expenses required to move the lead through the buyer’s journey into official customer status. If you start with CAC, you’re already on a better path to effective marketing planning and will have a clearer picture of a lead’s value when it enters your marketing funnel.
The Midterm Elections are just around the corner – November 6, 2018 to be exact. This handy 2018 Midterm Election Guide provides everything you need to know. And this post will tell you why, as candidate and strategist you need to think outside the (set-top) box to reach key voter groups!
According to eMarketer, as the midterm elections are heating up, ad spending is rising. Political advertising dollars are flowing to publishers at higher rates than had been expected earlier this year, based on statistics from E.W. Scripps – political ad spend will top $112 million in 2018, surpassing not only the previous midterm year but the 2016 presidential election as well, when its political ad spend reached $101 million.
Although the budget forecast is leaning heavily towards traditional channels – broadcast TV being the largest – the battle is also on for digital ad inventory. It will be getting the second-highest share of dollars, based on Borrell Associates media trend tracking, at the tune of $1.8 billion.
Digital advertising is primed to be a sizeable driver in the Midterm elections. With 435 U.S. House seats and 33 U.S. Senate seats at stake, programmatic advertising can easily dominate the race for the digital ad spend. With the power and targeting offered with programmatic advertising technology, campaigns can reach voters with quality, hyper-targeted ads, that unlike other advertising formats, can be adjusted on-the-fly.
MediaPost, in identifying the trends to watch in the 2018 midterm states that, “as we approach one of the most hotly contested midterm elections in memory, we already know one winner: digital advertising has clearly emerged as the preferred medium for both candidates and voters.”
Political advertisers need the right strategy to reach voters who are increasingly mobile and always immersed in content.
Native ads are advertising formats that are consistent with the form, style and voice of the platform they appear on and are considered less intrusive to the reader.
Native ads are consumed the same way people view editorial content which could attribute to consumers looking at native ads 53% more frequently than display ads and why they tend to register higher lift in purchase intent (18%) and brand affinity (9%) than banner ads. They can also register higher lift in voter intent too.
More importantly, native and mobile are dominant partners. Native advertising is even more likely to be mobile than social; more than 90% of native display ad dollars go to mobile placements, thanks to sites and apps designed specifically to include native ads.
Go Digital and Local
Particularly in midterm elections, localization is key. If your congressional campaign just needs to reach one side of a city or county, geotargeting enables you to zone right in.
Focus the Message
StackAdapt Custom Audience Segments are first-party data sets that target individuals based on the relevant content they’ve recently consumed online, their intent (to purchase or to vote) and their competitor interactions.
To identify users that belong to a segment, StackAdapt uses two main approaches:
- Collect users who share similar unique internet browsing patterns – that is users who have recently visited relevant pages that demonstrate a specific interest, such as Republican or Democratic Candidates
- Collect users that have recently connected to a specific corporate network such as the University of Georgia, thereby allowing political advertisers to target current college students of a specific campus
These diverse and unique audience pools make targeting your ideal audience fast, easy, and accurate – and gets your message in front of the right set of voters at the right time.
There is a lot of opportunities to reach voters through the various tactics offered only in programmatic advertising, including voter targeting and geotargeting. And it also brings pricing efficiencies and scale that help maximize campaign dollars. And some key elements, such as custom audience segments and programmatic native are only available in StackAdapt.
If you want to learn more about boosting the performance of your political campaigns, reach out to your StackAdapt representative or contact us to get your campaign up and running today!
In this installment of Canadian Growth Hackers, Vitaly interviews Peter Reitano, CEO of Abacus, an “ad tech/agency” focused on growing startups and helping big brands solve their marketing problems. The interview originally appeared on Betakit.
What is the team at StackAdapt reading this month? Here are a few essential articles that caught our attention. Enjoy!
1. Required reading for marketplace startups: The 20 best essays
Marketplace businesses are very lucrative but are extremely difficult to get off the ground, mostly because of the “chicken and egg problem” — not be able able to attract demand without supply and vice versa. Read the full article here.
2. When You Need a CMO. And The #1 Reason CMOs Fail
If you don’t read Jason Lemkin’s SaaStr Academy and you are a startup, you need to start immediately. In this article he talks about why so many CMOs fail. A must read for anyone looking to scale their marketing department. Read it here.
3. Why California’s new consumer privacy law won’t be GDPR 2.0
Privacy is arguably the biggest topic in tech in 2018. With GDPR in full effect, more governments look at how to implement their own version of privacy control. Read the article here.
4. Why brands favor a ‘hybrid’ in-house marketing approach
Whether to bring marketing or outsource it to an agency was even covered during one of our previous events. Perhaps, the it’s never going to be black and white, and there is something to be said about finding a happy medium where you can optimize for efficiency and costs, without losing sight of your core business. Read more here.
Curious what the team at StackAdapt is reading this month? We have asked around and curated a few of the most interesting articles for you to check out.
1. How Food52 Strikes a Winning Balance Between Content and Commerce
Increasingly e-commerce businesses use content to build relationships with their future customers. “It’s further proof of Food52’s core hypothesis: lead with high-quality content — offer value to your readers — and the sales will follow.” Read or listen to the interview here.
2. The IRL channel: Offline to online, Online to offline
While everyone is obsessed with digital channels, some companies leverage their offline distribution to promote their brand. Think of how successful some brands have become simply by being so Instagram-able, like Boby guys or Toronto’s ihalo Krunch, who serve charcoal ice cream. Check out this POV on the “IRL Channel” by Andrew Chen. Read the full article here.
3.ClassPass’ Founder on How Marketplace Startups Can Achieve Product/Market Fit
Marketplace Startups are among the most lucrative business models, and remain one of the hardest models to crack. Learn from the CEO of ClassPass, Payal Kadakia, how they’ve grown to become a household name. Read or listen to the interview here.
4. How To Reach More People With Content Marketing By Changing How You Write
As marketers we’re all guilty of writing jargon content from time to time, as a result, we are missing the mark on creating something that makes an impact. An always insightful view from Tom Tungus on how to be a better writer. Read it here.
Interview with Vitaly Pecherskiy, co-founder and COO. Originally featured on DisruptorDaily.
1. What’s the history of StackAdapt? How and where did you begin?
My co-founder, Ildar, was actually my client at a previous job. The first time we met to go over the account was at Starbucks. The conversation very quickly turned into the future of technology, innovation, opportunities, and entrepreneurship. Over the next 5 months our friendship grew and it became apparent that there was a clear gap in the market for another ad tech player. We left our jobs to start a service-based company that introduced organizations to programmatic, but our passion for technology meant we always knew we would eventually develop our own product.
At the same time, we met our third co-founder, Yang, who recently moved back to Toronto having spent a few years in New York building equity trading platforms. The fit was immediate – we had complementary skills, we bonded over how we envisioned the company and the product, and we had similar risk tolerance. We started building early proof of concepts that got picked up by a large automotive brand about 9 months into the journey. The rest is history.
2. What specific problem does StackAdapt solve? Who do you solve it for?
Nowadays consumers build relationships with brands on a value level and content marketing is a powerful vehicle to build that trust. Clients that use our platform come to us with a clear problem: they struggle with getting attention in today’s crowded marketplace. They’ve noticed that what worked in the past doesn’t work as well today – social channels are getting increasingly saturated and organic reach is dropping, and search engine optimization takes too long to yield results. Our customers are looking for ways to increase exposure to new target audiences on demand. Our native advertising platform lets them break through the noise and reach potential customers with content-driven ads. More importantly, it helps them understand how their media dollars actually drive their business forward beyond surface level metrics like impressions and clicks.
3. What is your solution to their problem?
As marketers ourselves, we felt the pain of using complex programmatic platforms. Our vision was to build something different than the traditional media-trading platform, something intelligent and intuitive. We didn’t want another complex “switchboard” type of product. We wanted something that makes complex things simple. An enterprise product that solves problems and that people would love logging into every day.
Because StackAdapt operates in many ways as a data-company, we collect proprietary browsing behavior data. Then we use machine learning to predict which products people are interested in. Buying native ads is easy. Making them actually drive your business forward is hard, so that’s where we focus our energy: How can we find people online who are actively looking for a product just like our customers’ and nudge them in their favor? Our proprietary data engine does just that.
4. What are the top 3 tech trends you’re seeing in the advertising industry?
Trend #1: Data transparency. I think more marketers have started to ask questions related to how data is actually aggregated and who is in the audience segments that they target on a trading platform. I see more and more people question whether the price they pay for 3rd party data is justified and what sort of performance lift it actually gives. It’s a very overlooked topic especially in the context of awareness campaigns where tracking ROI isn’t as straightforward as with conversion-based campaigns, but overall marketers are becoming more data savvy.
Trend #2: Video advertising. It boggles my mind how many dollars are flowing into TV advertising and how little accountability there is. Obviously, I am biased because I work in digital. There are challenges in tracking in digital too, but when I hear that in many places people are asked to use pen and paper to self-declare their TV watching habits which are then used to gauge the success of TV campaigns, it makes me laugh. We’ll see more brand managers wake up and demand more transparency around TV dollars.
Trend #3: Content experiences. We are starting to see marketers evolve beyond text-based blogs to building content experiences where they ask consumers to engage with their brands in a more interactive, engaging way. It’s no longer a wall of text that people are expected to read, it’s interactive quizzes, it’s user-generated photo galleries, it’s visual storytelling that makes brands stand out from the rest. When you have nailed that, your content distribution and paid media strategy is like adding fuel to the fire.
5. What’s the future of native advertising?
All digital advertising will eventually become native. It has taken longer than we anticipated in 2013 when we started StackAdapt, but it’s already apparent that this trend is unstoppable. As more publishers become responsive and cross-device, native advertising is the only route that makes sense for them as a monetization channel. Native ads are a powerful way to deliver branded content that’s less interruptive and more engaging than traditional ads. Once we accept that native is going to be the default way to communicate brands’ messages online, the questions of attribution and ROI remain. Are these native ads reaching the right audience? Are the native ads moving the needle for our brand? We think most marketing channels will evolve to become performance channels and native advertising will play an integral role in this change.
Check out the results of StackAdapt’s new original study in partnership with Leger Research: How Consumers Buy on Mobile in 2017. Continue reading “StackAdapt Study Uncovers How Consumers Buy on Mobile in 2017 [Infographic]”
AI is making a tremendous impact on digital marketing. We may not always be aware of it, but many of the tools and applications we use today leverage some sort of AI. Understandably, marketers are worried that the same technology that makes their lives easier may land them out of a job. Should they be worried? Let’s take a look at exactly what AI is capable of… and what it isn’t.
Natural Language Processing
Let’s start with Natural Language Processing (NLP). The proliferation of online articles and conversations has allowed machines to crack the code of language and its meaning. This has spawned many new innovative applications, the most popular of which are chatbots that help automate conversation.
Specific examples include Q&A systems, virtual assistants, automated content summarization, content extraction, sentiment analysis, language detection/translation, and even automated content creation. In these scenarios where content can be analyzed or predicted, a machine can completely replace a human.
Another key innovation in AI is image recognition. As the internet stores billions of images, machines are now able to detect patterns allowing them to understand the meaning behind a given image. Understanding what an image means is a powerful tool for many systems. It can be used to automatically find and recommend relevant images, detect sentiment in images, and help classify content.
Similarly, we have seen tremendous progress in the area of voice recognition, which is used in voice-activated AI. The most popular examples are Google Home, Amazon Echo, and Apple’s Siri Home. The potential in this area is incredible, however, the technology is still new and there are limitations to what the machine can understand.
Companies are also storing billions of user-related data points, such as online activity and browsing behaviour. This has allowed machines to gain deep insights and understand people in distinct ways. Researchers have found that Facebook probably knows more about you than your friends and family. In advertising, this data is valuable in targeting the ideal profile of users at the right time and the right place.
Researchers have found that Facebook probably knows more about you than your friends and family. In advertising, this data is valuable in targeting the ideal profile of users at the right time and the right place.
This data can then be combined with NLP and image recognition to create a highly personalized ad, where AI can form variations of headlines and images and automatically A/B test to find the best combination.
As a result, AI has allowed various industries, especially marketing, to focus more on unique and personalized experiences.
The combination of understanding users and automating conversations & content can be applied in many ways. More and more companies are innovating by building software that allows users to apply AI more easily. As a result, we gain powerful tools that help us automate and do a lot of the heavy lifting for us, and ultimately make our life easier as a marketer.
So Where Does That Leave Us?
The technology is there to handle the execution, from reaching specific audiences, personalizing content, running automated A/B tests, and much more. But AI is not nearly advanced enough to create high-level creative execution — at least not yet.
AI is not set to replace jobs anytime soon. As we head into the future, manual and operational tasks will slowly get replaced by new AI applications that appear on the market each year. But this is good news! It will leave marketers to focus their attention on what they do best — coming up with creative ways to connect with their audience in a human way.