Center Stage Themes: We must move toward buyers and personalize our process.
Play Abstract: Highly personalized ads perform 2X-3X higher than non-personalized ads.
Setting the Stage: Stacy Griggs is extremely decorated. Inc. 500 recognized, four successful startup exits to his name, Fortune 500 clients, and even pro sports teams.
Something he said really resonated with me. Well, Shakespeare said it, but Griggs quoted it: “A high hope for a low heaven: God grant us patience!“
All successful entrepreneurs relate.
Building the Action: Much of our online interaction is a randomized joke. Half of all mobile clicks are accidental. 8% of users account for 85% of the clicks. You have a higher chance of surviving a plane crash than clicking a banner ad.
Another way of looking at it: $12 billion will be spent on the upcoming US elections. 65% on broadcast TV. 10% on radio. 8% on newspapers. 8% will be spent on digital.
Griggs’ take: “People under 40 don’t vote because you haven’t given them a reason to.”
Action and Insights: It’s easy to forget as marketers that not everyone has transferred over to digital, but there is a slow trek in that direction. Some people are being dragged there kicking and screaming. But they’re headed in that direction, and they’ll be there eventually.
El Toro used personalized ads to circumvent a gatekeeper by personalizing ads to that company so when the prospect searched for specific tools, they were shown banner ads directly targeting them. El Toro was not only able to leverage that tactic to land new customers but also able to leverage the story for further coverage by, “like any good marketer”, leaking it to the press.
Current KPIs have been ineffective. Clickthrough rate alone can’t demonstrate what is or isn’t waste. 99% of what is spent on digital is wasted, you just don’t know which effort will be the 1% that will work.
Here’s how El Toro makes the most of its efforts:
1) Get a customer list.
2) Match to a list of IP addresses for an IP Algorithm.
3) Setup your campaigns.
4) Setup an RTB System.
5) Matchback Analysis for ROI
This process has a 95% confidence level.
Curtain Call: Twitter has an abundance of bad personalized ads. Whiskey drinkers don’t necessarily “pound shot glasses of Captain Morgan”, but that seems to be what the Twitter campaigns Griggs encounters think of him.
Key Takeaway: Good personalization leads to better results. On-Board Data, use what you know, use better offers… and try not to be creepy. Over-personalized ads freak consumers out. Personalize in a positive way that solves problems for your company.
Healthy, useful, nurturing personalization leads to better results. Get out there and get personal.