As any savvy marketer knows, advertising technology has become so advanced and so specific, that some marketing performance agencies are feeling defeated by these advancements. They know that if they have plans to run with the big dogs, they'll eventually need to hop off the porch, and that's not always easy to do in this hi-tech industry! After all, the agencies that are thriving in this hyper competitive environment are those that don't shy away from their problems. Instead, they embrace these challenges as new opportunities to grow, adapt, and change.
New Technologies are Taking Over
It's true that technology is advancing at a break-neck speed, and those performance companies that are serious about staying above financial water are finding ways to embrace this new technology. This doesn't mean that these agencies must create their own; not when there are companies like Genius Monkey, who has already developed much of this technology. Partnering with another company can enhance the efforts of your marketing, and it's just good business. At Genius Monkey, we make sure that those with whom we partner are top-notch.
Clients Think You're Outdated and Add No Value
Performance agencies don't need to completely disregard their roots simply because technology is advancing faster than they are. Embrace new technology; lean into it. Hire talented staff that can assist you to uncover the hidden insights that add value beyond just the tactical information. There is something to be said for the retention of human oversight, no matter how advanced the computers are. No automated system has ever been able to accomplish tasks without a human to program and monitor it. We like to refer to this as Quants with Human Oversight.
Marketers that decide to ignore these types of advertising strategies will discover that their brands become irrelevant or "out of touch" with their customers' wants and needs, and it happens rather quickly. At Genius Monkey, we know that the technology is continually advancing, and brand marketers who can draw definitive conclusions from the data they gather will soon be way ahead of those who are still struggling to maintain relevance.
There's Too Much Data that Marketers Can't Cut Through
A strong, strategic partnership between an agency and a client can be a huge assist for brands that want to bring to pass real business objectives, not just KPIs for the sake of vanity. You can take your partner-clients to the next level by bringing together their data sources ... websites, application analytics, ad campaigns, and CRM systems. This can be a great assist to help them grasp a holistic comprehension of the consumer's path to conversion.
Omni Monkey is Genius Monkey's digital ad optimization technology. It's our proprietary set of algorithms that assures that our optimization process is accomplished in real-time. It finds the most direct, cost-effective means to reach your targeted crowds, it creates a real-time competition between DSPs and networks, and it all happens in a fraction of a second. In addition, we can optimize across all variables, including devices and media access points, based on performance. This allows us to offer huge marketing values for the money.
It is true that performance-based agencies must conform to the times, but that doesn't diminish their importance and relevance in the industry. It's up to all marketers to grasp each challenge and recognize the opportunities for growth that it affords.
Setting Up Conversions and KPIs (Part One)