30 November

Does Retargeting Need Fixing? (Part Two)

Retargeting is like a bullet that ricochets off of a boulder and comes back at you, only it's not really a bullet ... it's more of a reminder. You know, just in case you forgot or failed to purchase an item that should have been purchased. It's like getting a second, third or fourth chance for redemption. Here are a few reasons why:

  • 3 out of 5 US buyers notice ads for products they've viewed on different sites
  • 30% of consumers have a positive reaction to retargeted ads, 11% do not like them, while 59% are apathetic towards them
  • Email retargeting CTRs are 3-5% higher with upsells
  • Retargeted ads can increase branded search exposure by 1,000% or more
  • The average CTR for retargeted ads is 10x that of display ads

In part one of this article, we pointed out the fact that retargeting has proven to be a very effective method of increasing sales, and that it's imperative that you know your audience, and their needs.

Continue Reading
28 November

Does Retargeting Need Fixing? (Part One)

Retargeting is a way to connect with people who, based on their digital actions, previously interacted with your website or mobile app. It allows you to strategically position your ads in front of these audiences as they browse online, thus helping you increase your brand awareness, or to remind those audiences to make a purchase.

With retargeting, marketers are able to display their ads to consumers who abandoned a cart, made a purchase or bounced from a website. Here's why we know it works:

  • Customers who see retargeted ads are 70% more likely to convert on your website
  • While 72% of customers abandon carts, only 8% of customers who are not retargeted come back to convert
  • 46% of marketing professionals believe retargeting is one of the most overlooked online marketing methods
  • 9% of brands allocate a separate budget for retargeting efforts
  • 33% of customers retarget to increase revenue, 33% do it to earn new customers, 16% do it to improve site engagement, and 12% do it to boost brand awareness
  • 25% of consumers enjoy retargeted ads because they remind them of products they've viewed previously

Continue Reading
23 November

The Power of Ad Collaboration

Collaborative Marketing is the process of sharing or combining resources in order to increase leads, brand, and influence.

  • Consumers who saw brand and product-focused ad creatives were 102% more likely to purchase a particular product than those who only saw a product ad.
  • People who saw "Explore Now" brand ads and "Shop Now" ads that were focused on e-commerce were 75X more likely to convert than those who only saw the brand message.

When companies or internal departments come together with a common audience or goal, they can band together with videos, banner ads, and creatives. They can effectively incorporate any number of ways to create an influence and a presence that is greater than the sum of its parts.

Continue Reading
21 November

Voice Assistants ... A Future Marketing Op?

As all marketers know, there are two key metrics that are near and dear to their bottom lines — reach and frequency. Reach is a result of the proliferation of smart speakers (otherwise known as voice assistants), and the frequency of use translates into regular consumer engagement.

The vast world of marketing is still trying to determine how to optimize for this new technology. In the interim, here are some statistics about what we're already experiencing with voice search and how it's affecting the market.

As of the summer of 2018:

  • One in six Americans own a smart speaker
  • December of 2017 saw ten million units of Alexa
  • 40% of adults now use voice search at least once per day
  • By 2020, 50% of all searches will be voice searches
  • Google's IA read nearly 3,000 romance novels in order to improve its conversational search capabilities
  • In 2017, voice commerce was a $1.8 billion retail segment in the U.S.
  • 72% of smart speaker owners say that their devices are used as part of their daily routine

Continue Reading
16 November

Why we Have the Registered Trademark of "Quants with Human Oversight®"

In the 1968 movie 2001: A Space Odyssey, the computer named Heuristic ALgorithmic (HAL) was endowed with a great deal of artificial intelligence (AI). Not to spoil the ending, but things didn't turn out so well with ol' HAL. He went rogue and became the bad guy. This is not an uncommon fear when it comes to the subject of artificial intelligence.

In a speech at the South by Southwest tech conference, Elon Musk issued warnings about AI. The billionaire tech entrepreneur said it was more dangerous than nuclear warheads and said there needs to be a regulatory body overseeing the development of superintelligent computers.

Continue Reading
14 November

How Important is Data?

Since the beginning of advertising, marketers have been on the hunt for data. It's no longer an effort to find it ... in fact, there's so much of it out there, many brands don't know how to handle it in mass quantities.

  • 33% of elite marketers say that having the right technology for data collection and analysis is the most useful in understanding the needs of customers
  • The frontrunners of the advertising industry are 56% more apt to tell you that decisions backed by data are superior to those based on a gut feeling or prior experience
  • Leading advertisers are 33% more likely to say that strategy is what defines how they integrate data (and other related technology) into their marketing
  • 88% of marketers surveyed use data obtained by 3rd parties in order to enhance their understanding of each customer
  • According to Forbes, 66% of marketing data is used to better focus on targeting offers, messages and content
  • Companies that adopt data-driven marketing are 600% more likely to be profitable year over year

Continue Reading
08 November

Be There for Impatient Shoppers ... Online or in the Store!!

  • Since 2015, searches for "same day shipping" have increased by 120%
  • 44% of those who use their voice-activated devices say that they order products with it at least once per week
  • "Where to shop" and "where to buy" searches have increased 85% over the last two years
  • Omnichannel strategies (strategies that show what's in stock at nearby stores) drive an 80% higher rate of incremental store visits

One fact that's hard to contest is that today's consumers are no longer easy to impress. Once they know what they want, they shop for it and buy it right away, but not before they do some homework. In fact, recent research reveals that the average consumer spends an average of 13 days shopping for something that they want, but once they find it, they want it RIGHT NOW!1 This is evidenced by the fact that 1 in every 3 consumers say that they want their item the same day and that they will search to find out how to get it as soon as possible.2

Continue Reading
01 November

Programmatic Myths

Programmatic advertising has made an enormous impact on the marketing world, and Genius Monkey has remained at the forefront of these technological developments and implementations. But, to those who still haven't grasped a clear understanding of the programmatic movement, there are a few gray areas upon which we'd like to shed some light. Here are five myths that we'd like to bust:

Myth: There is no difference between RTB (Real Time Bidding) and Programmatic

Programmatic buying in and of itself automates tasks (ad tagging, insertion orders, etc.), which allows ad buyers to build strategies that are more sophisticated, extract better analyses and remain flexible enough to accommodate shifts in the industry. Most buyers, agencies, advertisers and some networks are connected to the ad exchange by demand side platforms (DSPs). Simply put, advertisers compete for an impression or ad space on an online site with automated bids. The bidder that offers the most wins the "auction" and placement on that particular webpage (which is loaded immediately). In other words, RTB is simply one piece of programmatic, not the whole pie.

Continue Reading