Programmatic Digital Marketing

     Programmatic Digital Marketing is an advanced and automated digital marketing strategy designed to replace human negotiations with machine learning, which relies on automated and real-time bidding processes that allow companies to reach their target market with hyper-targeted and effective ads by advertising targeted customers in specific contexts. Businesses can reach the target audience who is more likely to be interested in their products or services with programmatic advertising through real-time auctions. Detecting, analysing, and reaching the optimized audience through behaviour-based advertising leads businesses to achieve a higher return on investment and expand their customer base. In 2021, 88% of display marketing in the United States is expected to transform programmatic advertising (Rask, 2021).

How Programmatic Digital Marketing Works?

 

The process starts when someone clicks on a page that is modified for programmatic marketing. After an auction among the advertisers is being put by the marketplace for an open advertising place, the advertiser who bids more for that advertising spot gains the right to display its ads. That allows the advertiser to increase sales and conversions since customers see that ad and make purchases. Although it may seem complex, it is an easy and fast process that takes only milliseconds which means the winner of the advertisement auction can be determined even before the user’s page uploads. Besides, there are several points that need to be considered while embracing programmatic digital marketing:

 

·      Companies should have the understanding and knowledge of not only consumer data but also customer behaviour to achieve successful programmatic advertising.

·      Companies should rely on not both website analytics and survey data that reflects more natural indications while designing programmatic work.

·      Companies should use insights to identify the most effective channels and devices.

·      Companies should use existing customer data to deliver hyper-personalized messages.

·      Companies should track and test the effectiveness of advertisement to make sure where to focus on, considering business objectives and brand metrics.

 

Benefits of Programmatic Digital Marketing 

    Programmatic digital marketing allows companies to focus more on their target market and audience at the right time and in proper context. Programmatic digital marketing enables businesses to save on costs since it helps set the frequency, time, and price of ads and requires payment for only relevant impressions. In addition, it helps companies keep track of their advertisement budget while achieving their set goals since it allows them to have control over ads by providing more flexible options. For example, a telecom company in Qatar, Ooredoo achieved to reduce the acquisition cost to reach their target audience 88% by using programmatic advertising, compared to traditional channels (Fayez, 2016). Lastly, it enables companies to provide a better user experience by promoting tailored advertisements and advanced targeting. There numerous brands that achieved building successful ads by embracing programmatic campaigns based on consumer data, such as O2, The Economist, Turner Sports, Audi, ScS, and Amanda Foundation (Keane, 2018). Regardless of the industry type, sector, or size of the company, programmatic digital marketing can be embraced to increase sales, conversions or drive awareness.

Buket Bostanci

Keywords: programmatic digital marketing, programmatic advertising, target market, target audience, personalised advertisement

References & Sources

 

Al Fayez, N., 2016. What is Programmatic and Why is Everyone Talking about it? [online] Think with Google. Available at: https://www.thinkwithgoogle.com/intl/en-145/marketing-strategies/programmatic/what-programmatic-and-why-everyone-talking-about-it/ [Accessed 13 April 2021].

 

Rask, O., 2021. What is Programmatic Advertising? The Must-Have 2021 Guide. [online] The Match2One Blog. Available at: https://www.match2one.com/blog/what-is-programmatic-advertising/ [Accessed 13 April 2021].

 

Keane, L., 2018. Programmatic Ad Buying: 6 Examples of Brands Getting it Right. [online] GWI. Available at: https://blog.globalwebindex.com/marketing/programmatic-ad-buying/ [Accessed 13 April 2021].

What is Netnography and How It Can be Used for a Better Marketing Strategy?

Netnography can be described as a tool used by marketers, which aims to collect and process the data related to social behaviour of people on the Internet. There have been other research tools for data collection, such as surveys and focus groups to obtain the consumer insights, considering they might be misleading due to ostensible responds; netnography focuses on gathering data accurately and instantaneously while consumers are behaving freely (What is Netnography? | Martech Zone, 2021). To understand the difference of netnography from traditional methods, it is better to go through the history of the term.

The History of Netnography

The word netnography was invented by Dr. Robert V. Kozinets in 1995, depicting a connection between ethnographic research and free social behaviour of the individuals on the Internet. Accordingly, the name of netnography comes from the combination of ethnography and internet which is also as known as net in short. As ethnography is considered one of the qualitative research methods that requires the researcher to be present in the actual place of the study for data collection, its context depends on cultural or sociological insights. As well as ethnography, netnography holds similar perspective in terms of searching about people’s behaviour, which means both studies are descriptive, immersive, benefiting from different methodologies and may easily adapt to different contexts (How Market Research Is Like Anthropology, 2021).

How It works and Why It is Different from Other Methods?

To understand how netnography works is simple. It uses from the same methodology as ethnography does, but it also integrates online or social media data into cultural insights. According to Kozinets, in the light of netnography, online interactions are regarded as cultural reflections. 

Comparing with other methods, netnography looks more useful and realistic than surveys and focus groups as they might be intrusive, artificial or irrelevant to consumers, and cost more considering the number of research population. Netnography is “cultural insights” and “context” focused, which means it doesn’t interpret online interactions and communications as simple content and searches for meaningful conclusions from that cultural insights. Netnography aims to provide significant outputs to the marketers to help them with better decision-makings while discovering characteristics of the online communities by analysing their images, texts, symbols and the language in general (2021). Now, it is time to take a look at the advantages of netnographic approach for creating successful marketing strategies. 

What Netnography Offers to Marketers and Companies?

Here are some convincing reasons why companies and marketers need to pay attention to netnography (Netnography is Digital Anthropology — Netnografica, 2021):

• Brand perceptions can be easily recognised by netnography.

• Netnography provides significant insights for companies that want to achieve their goals in brand positioning and repositioning.

• Ensuring meaningful cultural insights, netnography also helps companies and brands for customer segmentation process.

• Netnography is a great tool to measure the customer feedbacks before the development and innovation of new products.

• Netnography can be used as a trend identification tool by determining future trends of the market.

• Netnography can guide to a new service models for value creation such as crowdfunding.

• Netnography can lead to an effective social media strategy by increasing customer reach.

• Netnographic insights helps to activate emotional connection between customers and brands.

Keywords: Netnography, Cultural Insights, Social Behaviour, Ethnography, Social Media, Marketers

Ilgin Damla Omay

References and Sources

Martech Zone. 2021. What is Netnography? | Martech Zone. [online] Available at: https://martech.zone/what-is-netnography/ [Accessed 7 April 2021].

Netnografica. 2021. Netnography is Digital Anthropology — Netnografica. [online] Available at: http://www.netnografica.com/netnography-101 [Accessed 8 April 2021].

Preventviolentextremism.info. 2021. [online] Available at: https://preventviolentextremism.info/sites/default/files/White%20Paper%20%E2%80%93%20Netnography-%20The%20Marketer%E2%80%99s%20Secret%20Weapon.pdf [Accessed 8 April 2021].

The Balance Small Business. 2021. How Market Research Is Like Anthropology. [online] Available at: https://www.thebalancesmb.com/investigate-social-media-like-an-anthropologist-2297153 [Accessed 8 April 2021].

Emerging Technologies

    Emerging technologies can be considered the type of technologies that are still in the development stage or the new technologies existing out in front.  Although all new technologies may not pass the testing or development stage, the ones that can pass may transform the lives of people and, finally the world (Williams, 2017). Evolving technologies not only bring new opportunities and practical applications for tech firms in terms of generating new business, revenue, and improving customer experience, but also improve the quality of people’s lives in numerous aspects such as efficiency, safety, health, environmental conservation, and so on.

The Emerging Technology Community has released the list of Top 10 Emerging Technologies for 2020, considering the research on the technology landscape and the marketplace’s assessment (Fitzgerald, 2020).  The list includes:

 

1.     Artificial Intelligence

2.     5G

3.     Internet of Things

4.     Serverless Computing

5.     Biometrics

6.     Augmented Reality / Virtual Reality

7.     Blockchain

8.     Robotics

9.     Natural Language Processing

10.  Quantum Computing

 

What are The Emerging Technologies?

 

Artificial Intelligence: Being used in the daily lives of many people and was adopted by numerous industries, AI refers to systems, machines, and algorithms that mimic behaviour associated with human intelligence such as perception, learning, planning, reasoning, and decision-making.

5G: Fifth-generation wireless (5G) refers to the cellular technology designed to increase the speed of wireless networks and provide connectivity of multiple devices.

Internet of Things: IoT refers to the significant number of connected physical devices that collect and share data over wireless networks.

Serverless Computing: Serverless refers to a cloud-based execution model that eliminates the need for managing servers to run applications.

Biometrics: It refers to the process in which unique physical traits of people are being detected and used to verify their identity.

 

Benefits of Emerging Technologies in The Supply Chain 

 Integrating emerging technologies like artificial intelligence, the internet of things, virtual reality, blockchain, etc., in supply chains and embracing the transformations is crucial for businesses’ futures and values since they allow companies to save on time and costs by improving business processes. There are several examples of how emerging technologies may benefit the supply chain in preparing companies for the future. (Chorley, 2018).

 

·      Contributing to the real-time problem-solving performance of companies by predicting and preventing potential problems and malfunctions.

·      Improving the customer service and reducing the cost to serve by connecting the digital thread by leveraging information gathered from emerging technologies like the Internet of Things or Big Data.

·      Allowing companies to monitor and interfere with the processes, changes, and the supply chain not only remotely and globally by the use of cloud-based emerging technologies but also autonomously by the use of artificial intelligence in decision making.

·      Training and preparing supply chain workers using Virtual Reality to provide better practices, realistic experience, and remote training.

·      Helping companies manage supply chain related crises easily by tracing failures, offering correct balances, and providing complete transparency in the product information.

·      Transform the way that supply chains are being operated by the use of IoT-based inventory, asset, or order management systems that consider sustainability and green initiatives.

Buket Bostanci

 

Keywords: emerging technologies, artificial intelligence, machine learning, digital transformation, supply chain, IoT

References & Sources

 

Williams, O., 2017. The Advantages of Emerging Technology. [online] bizfluent. Available at: https://bizfluent.com/info-8427727-advantages-emerging-technology.html [Accessed 3 April 2021].

Chorley, J., 2018. 6 Benefits of Emerging Technologies in the Modern Supply Chain. [online] EBN. Available at: https://www.ebnonline.com/6-benefits-of-emerging-technologies-in-the-modern-supply-chain/ [Accessed 3 April 2021]

Fitzgerald, L., 2020. 10 Emerging Technologies Making an Impact in 2020. [online] Available at: https://connect.comptia.org/blog/emerging-technologies-impact-2020 [Accessed 3 April 2021]