Using NextRoll’s Data & Analytics to Optimize Marketing Campaigns
NextRoll's Tech Stack Series #5
Growing businesses always look for ways to build a larger customer base and boost sales. There are several ways to accomplish this, like encouraging word-of-mouth recommendations from current customers or offering discounts to entice new patrons. But launching a targeted marketing campaign can pay dividends many times over. We support these growing businesses by giving them the tools to launch campaigns, reach their ideal customers, and help produce a favorable action (like a conversion). And our platforms are easy to navigate, making them accessible to a one-person operation or an existing team of marketing professionals.
The power of our AdRoll and RollWorks platforms is their versatility and ability to quantify these marketing efforts. After all, successful business leaders and marketers focus on the bottom line. They’re keenly aware of the importance of cash flow and track where every dollar goes. They always need to get the best value for their money. Our intelligent data and analytics capabilities can support this in many ways by helping a business target the appropriate customer to receive an ad or email and track how and when a favorable action is achieved.
Here’s a hypothetical example of how it all works. A pet store's primary customer is either a cat or dog owner, which is a binary segmentation. Each type of owner buys pet-specific foods, toys, and grooming products, with little to no overlap. When creating a marketing or ad campaign, the pet store could further segment the audience to the granular level. They could decide they only want to target female dog owners living in specific zip codes in California or male cat owners interested in a sport like ice hockey from Texas.
Quantifying the value of a campaign
Our system tracks how these different audiences and segments respond to the ads, which helps our real-time bidding engine learn and optimize ad placements. It can track how many times a user viewed an ad, where they saw it (i.e., on a website, social media, or between rounds of Candy Crush), how they interacted with it, and if they eventually made a purchase. This is vital because the journey from the first ad to the eventual favorable outcome can be a long and winding trail; it isn't black and white. A user might see the ad 5-7 times before they go online to search for the company and make the purchase. While the "last touch" might have been a search engine, the targeted ads and emails helped build brand and product awareness that led to the purchasing decision.
Just as important as the consumer side of the equation is the business-to-business benefit of the RollWorks platform, which gives companies unprecedented access to information that helps them optimize and hone their campaigns and outreach.
Our tech can help quantify the impact of a campaign by calculating the Return on Ad Spend (ROAS). Using the example of the pet retailer, a pool of 1,000 internet users view their ad 4-5 times over a month, which costs the business $100. Because of the ads, 32 users decide to buy food, treats, and toys from the retailer, averaging $44 per transaction, for a total of $1,408 in new revenue. The retailer now knows that for every $1 spent on the campaign, they got a ROAS of $14.08. This data shows the value of their ads but can also be used to optimize which channels the campaign uses.
Because our AdRoll and RollWorks are self-serve platforms, we work hard behind the scenes to bring this value to our customers. Every time our real-time bidding system competes for ad space, it considers many different factors. It analyzes the user to see where they are, what website they are viewing, the time of day, and their browsing history. It considers the value of the ad placement; is it a headline ad or something farther down the page? The system then predicts the outcome of the ad. Will the user click on it, or is there another favorable outcome? For AdRoll's D2C focus, this could result in a sale, while RollWorks focuses on B2B, so it could be a lead-generating form that collects emails.
Ensuring quality of campaigns
Our data and analytics teams monitor all activity in real-time, which is a significant advantage over some of our competitors that can only generate a report every 24 hours. This helps quickly catch any potential issues with launched marketing campaigns and helps our customers optimize changes quickly. Additionally, our system is dynamic and scalable and utilizes a massive amount of data to power our core technology – which includes machine learning, real-time bidding, unified identity, and more. It can also immediately detect if there are issues, like problems with one of our ad exchange partners, or if it suspects fraud or invalid traffic, and even identify technical problems that could reduce the efficiency of marketing campaigns. Our teams can address these issues immediately to ensure campaigns run smoothly and as expected.
Our data and analytics dashboards can help illustrate growth areas and offer suggestions for a business to reallocate focus. If the pet retailer from the example above noticed that the bulk of ad engagement came from the open web and sites like BuzzFeed or a local news site, but little to no favorable outcomes from a social media platform like Facebook, they could adjust the focus of their campaign. Our account managers can also reach out to businesses to alert them to missed opportunities, like if 40% of traffic to their sites is mobile, but they do not have campaigns optimized for these devices.
We designed AdRoll and RollWorks to democratize digital marketing and help growing businesses launch campaigns that increase their customer base and revenues –no matter how much experience they have or how big their team is. Our platforms easily target potential and current customers, raise brand awareness, and lead to favorable outcomes. This is thanks to our deep data and analytics capabilities, which allow these businesses to collect information and, more importantly, leverage it to improve the efficiency of their marketing efforts. It gives decision-makers the information they need to understand how campaigns are going and the ability to capitalize on opportunities. We help ensure they get the best bang for their marketing buck in an easy-to-use and affordable way.