In tough times, it’s quite important for companies to make every dollar of advertising money count.
Those who can convince advertisers in a concrete way how much additional business their advertising dollars can bring certainly have an edge. Digital marketers that rely heavily on data mining are doing exactly that.
By studying customer behavior, including their viewing habits, search activities on the internet and discussions on social media, digital marketers are able to better advise their clients on when, where and how to spend their advertising budget and craft the marketing messages to reach their target clients.
“For instance, study shows Monday and Tuesday usually see a jump in credit card or personal loan applications. The reason could be heavy spending over the weekend. Using this data, we can more precisely determine the timing of related ads,” iClick founder Sammy Hsieh told the Hong Kong Economic Journal Monthly.
Here is another example. Television viewing used to peak at around 8:30 p.m., but things have changed.
“After 8:30 p.m. is the peak hour for Hong Kong people to surf with their smartphones. We will therefore recommend to our clients to target audiences on mobile platforms during that time slot,” Hsieh noted.
If they spend on TV advertising like the way they did during the old days, they would just be wasting their money, he added.
Since most online activities, like click rates and online transactions, can be tracked and quantified, Hsieh expects this data-driven, results-driven approach will be the future of marketing.
Formed during the depth of the global financial crisis in 2009, iClick now boasts 150 clients from the Fortune 500 list and a couple of thousand smaller companies.
That speaks volumes about how new-generation marketing is gaining traction.
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