As Big Tech hogs the digital space… how will you compete?
To compete you need to look at Total Performance
From e-Marketer:
Key stat: Big Tech (Amazon, Apple, Google, Meta, and Microsoft) will attract nearly two-thirds of US digital ad dollars this year, according to our October 2023 forecast. That’s more than double its share since 2008.
Beyond the chart:
-Big Tech’s dominance is largely thanks to strategic mergers and acquisitions. Big buys such as Facebook’s purchase of Instagram in 2012 and Google’s purchase of YouTube in 2006 have accelerated its power, but smaller, undeclared deals have added up too.
-Google, Meta, and Amazon—and soon, Apple—are facing US antitrust lawsuits that could reshape the digital ad market and redistribute ad dollars.
If you are not one of the five... how will you make your own ads stand out?
Make your ads more relevant than ever
💪Use data-driven segmentation to understand the tapestry of customers buying your product or brand
💪 Understand the complexity of your customers. Unless you have a very simplistic product, your product or brand covers a wide range of situations. You need to understand what each segment wants from your product
💪 Survey your customers. Create a survey that will capture product usage, attitudes (to find out the most relevant factors to communicate) and enough behavioral and demographic factors to be able to identify your segments. Publish it on your social media pages, give respondents a good incentive.
💪 Once you have that clear, use dynamic creative optimization and random landing pages to test a bunch of creative at once.
💪 Use data-driven buying to deliver the creative to the right segment. There are many data driven alternatives, from programmatic to CTV that you can consider
💪 Analyze the entire mass of data to find what performs better.
