This guest post is from LiveRamp, a MediaMath data partner that connects data across more than 100 digital marketing applications. By onboarding customer data into the measurement, targeting, and personalization applications developed by partners like MediaMath, LiveRamp helps leading brands eliminate data silos and run more efficient marketing programs.
The winter holidays are the most important time of year for most retailers. As this study from eMarketer shows, winter holiday sales can dwarf the revenue from all other holidays combined:
Given its seasonal importance, most retailers begin planning their holiday strategy far in advance. Although the majority of media buying and infrastructure decisions for the 2014 winter shopping season are already set, there is still time to implement data-driven strategies that can have a material impact.
PUTTING YOUR DATA TO WORK
Data-driven marketing strategies rely on harnessing the consumer insights that lie in the silos of data trapped in CRM and POS systems. Each of the strategies outlined below can be augmented through data onboarding, the process of eliminating data silos by anonymizing customer records and matching data to online devices, so digital marketing applications can use segments.
• Measurement – One of the most important strategies for optimizing media spend is closed-loop measurement. In the past, many marketers have optimized media buys on the basis of last-click attribution tied to CPC or CPM. Consider matching online impressions anonymously to in-store transactions and perform multi-touch attribution analysis.
• Personalization – Consumers are increasingly tuning out generalized offers, forcing marketers to personalize experiences delivered via websites and email campaigns. By onboarding CRM data, marketers can now deliver personalized website experiences to site visitors without requiring a login. Personalization technology can also reduce the burden on email and web creative teams by automatically inserting relevant promotions and information on local store locations into campaigns.
• Targeting – To drive winter holiday sales, it’s critical to build a strategy for reaching the right target segments with your message. A retail client used a combination of segment analysis, look-alike modeling on third-party data, programmatic buys with viewability guarantees, A/B message testing and dynamic creative to boost conversion rates up to 40 percent. Each of these techniques can be implemented in a few short weeks, giving you the opportunity to increase the efficiency and impact of your winter holiday campaigns.
To learn about how MediaMath and LiveRamp work together, visit the OPEN Partner Marketplace.