In the last Genius Monkey blog, we covered brand interaction and examined where our clients' ads show up. In this blog we'll look at the power of tracking via email, as well as the costs of effective, relevant advertising.
Not only is this an intriguing subject, it's revelatory to anyone who is exploring the possibilities of adopting a programmatic platform of their own, and how many ways we have to place content in front of their targeted consumers at the right place and time.
At Genius Monkey, we have the ability to deliver ads alongside, or directly, in free email providers like Gmail, Yahoo Mail, AOL so on, but the data that we're able to use from this is very powerful, as well. As an example, let's say that you email a buddy who recently purchased a pickup truck. You explain in your email that you're trying to decide between a Toyota Tundra and a Dodge Ram, and you wanted to get his thoughts. Based on the content of that email, through our data and media partners, Genius Monkey would know you are in the market for a new truck. We would also know that we need to get an ad in front of you, right then and there!
So, the point of this is that it's no longer about getting an ad on this property or that, but rather, identifying our target audience and getting in front of the subject as soon as humanly (and robotically) possible! It's about having the ability to get in front of consumers during that 95% of the time that they're online, engaging in content. When it's actually time to go through and purchase something, we want to know that we've done the right amount of reaching out to capture their conversions.
Our Genius Monkeys understand that the more angles from which a brand marketer is able to address the consumers, the more confident and comfortable the consumers are going to feel doing business with that brand.
Now, let's get down to nuts and bolts about what's different about Genius Monkey, and why we do what we do. Oh, and how we kind of turned everything up on its ear!
First, the industry standard had always been to charge fees based on an impression that was a natural outflow from any traditional media. Whether it's circulation, traffic, billboard, reach and frequency, they'd just charge per impression. But, at Genius Monkey we were not comfortable with that, as historically, impressions don't mean you are getting in front of the right people. So, we chose to charge based upon engagement.
Now, on the display side, an engagement is defined as someone clicking on the ad and actually going to your site. Our average cost-per-click numbers are affected by the marketplace because this this is real-time bidding (RTB). The marketplace is going to determine what those costs are, yet we have ways of driving them down.
With the Genius Monkey way, if users see the ad and they don't click on it, you don't pay for it. Granted, the vast majority of the industry still operates on a Cost per Thousand Impressions (CPM) model, although many of them are starting to come around. But, just to give an apples-to-apples comparison, we still obviously report on what we refer to as the Effective Cost Per Thousand (CPM).
Be sure to read the next blog in the series, What's it Like to Chat with a Monkey, where you'll read about the seemingly miraculous technology that lets us know the exact whos, whats, whens and whys of your ads.
Multitasking Culture Gives Rise to Programmatic Audio