Down & Digi by KeyMedia Solutions Korena Keys

In this week's episode, Korena sits down with one of our digital specialists to discuss the difference between OTT and CTV.  

During their conversation, Luke explains that CTV gives marketers more control when it comes to placing their ads. It also gives you more in-depth reporting.  

Although OTT can be a powerful tool, it is not hitting all of the TV watchers out there. We know that 2 million people cut the cord in 2019 and even more in 2020. This has allowed CTV audiences to grow and give marketers more opportunities to reach the right people.   If you want to learn more about CTV and how you can leverage it in your marketing strategy, visit www.keymediasolutions.com.

Watch the interview:  https://youtu.be/7Sgwd4rrWQU

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Last week, we talked about how 3rd party data sources will affect the accuracy of your website analytics and the limitations that we are beginning to see as a result of new regulations. Sometimes, it feels as if we are taking 10 steps backward in our targeting capabilities, audience insights, and campaign performance.   

The answer to your marketing teams’ woes – your own first-party data!  

• Where does first-party data come from websites, customer feedback, surveys, your own CRM, social media.  

• First-party data is the most reliable data because you are the one collecting it. This is also the least expensive data you can find.  

• First-party data also can create trust in your customers.  

• Operating on first-party data helps you comply with global data protection laws. First, first-party data stays in the hands of those who collect it, and that gives more control and transparency over what happens with that data.  

• First-party data enables targeting content recommendations and advertising messages at a more granular level. Think “recommended products” from Amazon or songs from Spotify.  

If you have not already started, start implementing systems that will allow you to gather key data points on your customers and prospects. It can start simple enough with name, business, address, and email.   

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It is all over the marketing world, 3rd party data is going away and marketers are preparing for a cookieless world.  

What is 3rd party data? It is data that is collected on users that is then used by other companies to be able to market to those users.   

If you have not already, you will begin to see that data is being misreported by analytics software. A common one we see often is that there has been a weird bump in web traffic from Coffeyville, Kansas. No, people are not just randomly moving to this small town in the Midwest, but Coffeyville is the digital center of the United States. This means that when an analytics software cannot determine a user's location, they attribute it to Coffeyville, Kansas because of the lack of 3rd party data and other data privacy restrictions. This is just one of the many misattributions we are beginning to see across multiple analytics accounts.  

So what does this mean for companies that are relying on 3rd party data? It means that building out your first-party data is now more critical than ever!  

You can begin preparing for this change by building out your current CRM and getting as much information on your current audience as possible. Review your tech stack and see what capabilities they have to ethically collect 1st party data.   

Finally, you can consistently monitor your analytics and start figuring out where data is starting to be misattributed.

Watch the video version: https://youtu.be/Tq95hA0TEmw

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Last month we had the opportunity to attend the second annual Marketing Artificial Intelligence Conference (MAICON). It was a packed 2 days of great information about where AI is in the marketing world, where it is going, and what we can be doing now to utilize this great technology.   

The most important thing we took away (minus all the great nuggets below) is that we are NOT behind when it comes to incorporating AI or machine learning.   

Here is where your organization can start: 

1. Examine you ad tech stack you currently utilize and ask how are they using artificial intelligence and machine learning. Ask them about their plans to build out more AI.  

2. Set an expectation that everyone in your organization gets a baseline understanding of what AI is and how it is impacting your organization.  

3. Start small and identify one use case that you can utilize right away.  

Here are a few uses cases to get things kick-started for you:  

1. SEO: find keyword ranking opportunities, optimize website content, & create briefs  

2. Copy Writing: generate ideas, outline content, write content, answer questions   

3. Google Ads: optimize, manage, and report on ad buys   

4. Social Media: predict ad performance, recommend images and keywords   5. Email: write subject lines, auto-populate content (conversion.ai, rasa.io)

Watch the video version: https://youtu.be/Dx6F1D7en5E

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Much like Halloween, budgets can be spooky.  

But there are easier ways for you to work and plan your budget, whether it be for the coming year or just for an event you plan to host.  

These are three things to consider when you start to plan your next budget.  

1. Set Clear Expectations. Understand your business as a whole, know where money should be going, and plan for where you want to spend. Also, understand the goals and the expectations of your company and your team. What is your sales goal? What is your growth goal? These can help you clearly define your budget expectations.  

2. Allocate Properly. Marketing sometimes can be an afterthought when it comes to business expenses. Often times it is certain pieces of marketing that get forgotten or left out. Don't let this happen to you! Allocate the proper amount of funds based on current and target cost-per-acquisition. Plan for expenses you know are coming or are possible, like a new website, new ads, printouts, branded swag for a trade show, etc.  

3. Use a Budget Calculator. This is a tool that can greatly help you plan. It gives you ideas, possible expenses, projections, etc. This is the same tool we use to help plan our budgets! Try it for free: https://bit.ly/3vwHrYC

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To Develop a Strategic Plan.

The biggest buzzword in marketing is in fact not geofence, but STRATEGY!  This week on Down & Digi, we talk about the importance of a strategy-based approach to your marketing efforts.   

Some things to consider when developing your strategic plan:  

1. Start with your goals in mind. From there work backward to develop everything else.  What is it you want your customers to do or accomplish? Once you establish this, then you can sculpt your plan around getting them to that point.   

2. Understand who is buying from you. This is can differ from who listens to you. But understanding your buyer will give you perspective into who they are, where they are, how they engage with your brand, etc. It will also help you understand why they buy from you as opposed to your competition. Once you know this, develop a persona around these buyers, work that persona into your plan, messaging, all of your marketing efforts!  

3. Knowing where your buyer is. Physical location is good, but in a social sense, what social media apps do they use, what are they searching for on the internet, what shows are they watching? If you know where they are, then you can easily ensure you are in front of them.  

4. ALWAYS BE TESTING. Test your message, test your delivery, test your placements, test your tone, test, test test, and never stop testing.  

5. Be flexible. You never know how your product, company, or buyer will evolve, therefore be ready and willing to change when they do.  

Watch the video version: https://youtu.be/l0Yp5rTikk8 

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