Boost customer retention by leveraging your first-party data, marketing and advertising news, AND BrandEquity
It’s time to face the facts: in our ultra-connected age, your target demographic is bombarded with media from every medium imaginable. They read brand information while sipping their morning coffee, listen to the radio on the way to their office, have huge billboards (OOH media) watching them from traffic intersections, and during their time free, they surf and move from one social network app to another analyzing, absorbing and, in equal measure, abandoning a ton of media consumed.
So, given the media blitzkrieg that modern audiences go through every day, what are the chances that your brand will not only stand out, but also push the target group to act on it?
For any marketer looking to lucidly assess where their brand stands against their market peers, they need actionable data to understand the imprint the marketing campaign is making in the minds of the audience.
In the words of Peter Drucker, one of the most renowned management consultants of our time, “you can’t improve what can’t be measured”. Seen from the perspective of a marketing guru, Drucker’s saying would translate to this: you can’t improve your media performance and brand perception if you don’t measure it.
With increasing internet penetration worldwide and users overwhelmed by multiple forms of brand communication, capturing the mental space of consumers is becoming an almost insurmountable challenge.
Clearly, the digital landscape has forever changed the way we consume media, so much so that our attention spans are now at all time highs. Now, more than ever, advertisers understand that they need to grab eyeballs and mental space in the shortest window possible.
Their task is not enviable. As a new wave of privacy laws sweep through the digital world, the work of brand marketers, digital strategists and media planners to secure kosher data becomes all the more troublesome and demanding.
All brands today face tough challenges when it comes to brand retention and actionability. To overcome this barrier, a brand needs a clear and defined growth strategy that targets omnichannel marketing with a heavy emphasis on digital. So how can a brand build this first-party data and leverage this real-time goldmine to deliver a seamless customer experience to existing and potential users?
One can begin by honestly admitting that the old paradigm has been ruthlessly replaced by the new.
Ever since digital marketing emerged, people in marketing and advertising circles have been deeply convinced that the ultimate goal of conventional media is to increase brand awareness and recall. Unfortunately, what was not taken into account is that this measurement is subjective and not objective.
In 2022, this dynamic has changed with intuitive eyeball capture solutions that create real-time first-party data by augmenting various innovative solutions with all types of media – TV, print, OOH, digital (OTT, social media ), website and app.
Now brand managers, media planners and business leaders can measure the impact of their communication and improve brand retention. With current solutions in place, business leaders can now create first-party data on the go, 24/7, from any form of media based on the interaction of their user with brand communication.
These capabilities can enable a brand to achieve the following goals:
a) Build their first party user data from any medium based on their brand communication
b) Improve ROAS on their media spend in a non-linear way by introducing interactivity in brand communication
c) Boost engagement and gamification with potential customers by not only capturing their eyeballs and minds, but also capturing the data shared by those users themselves
d) Leverage curated first-party data to deliver personalized journeys based on their preferences across all channels, i.e. as a truly ubiquitous, customer-centric brand.
e) Penetrate deeper into Tier 2 and 3 cities to acquire new customers and provide seamless pathways for improved customer experience and brand adoption at every touchpoint of the customer journey.
Disruptions in the modern media world will be ruled by digitization, technology and internet connectivity and by brands stepping up and leveraging these technological advancements to deliver a seamless, contextual and personalized brand experience to their potential customers.
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