Trends in performance marketing - some APAC stats
Programmatic is exploding, email has gone dynamic, bots are supposedly everywhere and the debate between multi-touch and last touch attribution shows no sign of abating.
In a region like Asia Pacific, where emerging markets have gone from dial-up to mobile and mature markets have almost 100% smartphone penetration, it presents a very interesting landscape. As a marketer you know, what works in Indonesia might not necessarily work in India and vice-versa. There is a distinct need for customisation. It has to be based on audience, demography, location, price-point and culture.
This calls for personalisation, which by its sheer definition is counterintuitive to scale. Yet, without scale, the efficacy of a marketing engine starts getting questioned, sooner than later.
In a world of marketing automation, we all know: scale is the holy grail.
This is where I guess, technology comes in. Those pesky cookies and irritating forms bring to life the oxymoron, "personalisation at scale".
Raid your CRM system, fire that SQL query, segment your database by behaviour, role, location, buying propensity, email opening propensity, churn propensity and so on. Slap that database inside an automation client. Feed it multiple streams of email and nurture content by segment and language. Once done, crank up your DMP, pull a matched audience on Facebook and Google display, activate your paid search and boom- slowly watch the leads come in.
That, in one paragraph, is a succinct summary of performance marketing.
I love it, because I find mar-tech and ad-tech quite interesting to study and practice. While it may seem a bit restrictive and less creative, there is an immense amount of science on which these platforms thrive. This logical thinking fascinates me.
AdRoll recently launched a report on the state of Performance Marketing in APAC. Quite an interesting read with some insightful takeaways. I will annotate the ones that caught my eye, but you should really read the whole report in its entire form here. Very insightful.
Now for those interesting bits.
Programmatic is going to cut the cake and eat it too (at least for the moment)
Not surprising, given, that with programmatic, marketers can integrate multiple trigger-based push marketing techniques across email, web and social channels. Spends are also optimised based on intent completion rather than just awareness. It is a win-win. Sure it can be a bit creepy, but it can also be quite effective in the short run.
Will it create a loyal fan following of rabid advocates? Probably no. Will it create inspiring, memorable marketing to survive the ages? Probably no again. But when the focus is on short run quarterly "performance" led tactical evaluation of efficacy, it does the job and does it well.
If "scale if the holy grail" then "retargeting is the Knights Templar"
One thing never ceases to surprise me. We, marketers, are a bit hypocritical. At least I am at times. At home we are consumers, consuming the marketing dished out to us on our laptops, television, and mobile phones. We hate it when one minute after reading about "The ten best beaches in the world", we suddenly find our newsfeeds littered with travel deals of all kinds.
We pontificate about the scary world we live in.
Step out of the door though, and as we put on our marketing hats, we are gunning to drive those same pixels to the "customers" we need to target. Quite a dichotomy to be honest, but hey, let's not fake innocence here.
If you don't want your data to be used, don't put it out anywhere. Buy things in cash- offline. Don't use cloud services. Go back to the landline. Hell, start writing letters. Every website I know takes explicit permission before slipping those cookies. It is a choice, and convenience has a price. We all need to be practical about it.
There is no privacy in this world. Period. The utopia still exists, but you can hardly blame ad-tech when you are happily "checking into" the Four Seasons on Facebook. No one really wanted to know where you were checking in, but since you volunteered it anyway, why not let ad tech thrive and help someone sell you a real cookie?
Retargeting is annoying. But you got to love the way it annoys.
Email is "STILL" the Real McCoy
Really heartwarming to see the focus on revenue and customer loyalty. Though these are based on single touch, last touch or multi-touch attribution models (all of which are faulty somewhere), there has been definite progress to tie back and quantify a return on all those email's sent.
Every interaction touch point has an impact. In most cases, the causal effect is not immediate. But we buy stuff we are comfortable with and are aware of.
Zara and the roadside tailor in Bangladesh both have manufacturing centers in the same city. Yet we are happy splurging on Zara.
Similarly, every email may not be opened or clicked, but rest assured gets noticed before getting deleted. The name stays on. The recall builds.
At the moment of truth (purchase) it all adds up.
Lot's of other very cool insights in the report. Definitely, give it a read. Some great content from AdRoll who know a thing or two about programmatic and retargeting. (based on my personal experience of using them).
And yes, keep those cookies baking!!