Data has officially become “the new black” and at Innovid, we’ve long believed in its power. According to eConsultancy, more than half of organizations have ranked data-driven marketing as their top strategic priority in 2017 and eMarketer reports that two-thirds of marketers are already generating exponential lifts in customer engagement and sales by personalizing their email and website experiences.
Brands have long been collecting data, and thanks to technological advances, marketers can finally put that data to good use by personalizing video throughout the customer journey. So, the year of data has officially arrived but the question is: Are you ready for it?
Last year, 97% of programmatic ad campaigns lacked targeted creative (or messaging) for their core audience segments. Without personalizing the message, marketers not only fall short on the promise to deliver the right message to the right people at the right time, but miss the opportunity to convert the customer entirely. Personalized, data-driven video is the key to achieving one-to-one (or 1:1) marketing and can help marketers convert a drive-by visitor into a customer.
When it really comes down to it, executing an effective data-driven strategy is not so easy. Collecting, segmenting, and activation all take time, energy, and expertise. Plus, there are several different types of data to leverage including first-party, third-party, and ad-server data. Given the wide variety of forms that these types of data can take, it’s often challenging to know which data will best suit your campaign.
For example, first-party data that a customer volunteers is typically used further down the marketing funnel for things like acquisition and retention whereas third-party data is more often used at the top of the funnel, to help increase the relevancy of brand awareness campaigns.
However, activating data to personalize creative messaging is only one part of building a holistic, data-driven marketing strategy. Your video ad campaigns, especially interactive campaigns, garner a massive amount of customer intelligence including impressions, quartile views, completions, click-throughs, and in-unit activity—all of which can help inform (and personalize) the rest of your marketing initiatives if sent back to a DMP or marketing cloud.
We know that learning how to use data to personalize video messaging can be complicated and maybe even a little overwhelming. That’s why we created our new Data-Driven Video Marketing Strategy Guide – to help marketers discover the power of data and learn how to activate it for more effective video marketing. This in-depth guide includes everything you need to know about first and third-party data, ad server data, how to activate data for video personalization, closing the loop with video data passback, sample strategies as well as key use cases.