Big Data Helps Mobile Advertisers Hit the Bulls-Eye
An essential power of digital – especially mobile apps – in advertising is clear: Big Data.
Of course, big data matters not because numbers are nice on their own. Rather, it’s the ability of the data – in combination with thoughtful analytics around segment, intent, desire, and more that provides value to brands.
Indeed, Entrepreneur notes that “Big data can help make sense of the information gathered, such as retention cost, average transaction value and even customer satisfaction. After all, consumers who spend the most money are not necessarily the most valuable.”
MIT Technology Review addresses the issue, nothing that “Advertisers are certainly not abandoning the practice of targeting ads, but they are realizing that sometimes their original targets are wrong. When aiming ads for its fitness apparel at the 18-to-24-year-old men who wore it, one advertiser realized it was ‘mothers and wives buying for their sons and husbands’ who were really driving the sales, says Ric Elert, president of Conversant, a digital ad firm whose roots are in direct or personalized digital marketing.”
But for all of data’s predictive powers, there are challenges that advertiser must face. Among them, according to Entrepreneur: “A growing and crucial demand to expose ad fraud and non-human impressions.”
We’ve written on the topic of ad fraud (Fighting Ad Fraud Part One: Types Of Fraud and Fighting Mobile Ad Fraud Part Two: How To Protect Yourself).
Does this mean advertisers should fall of out of love with digital? Not in the least. But as the market matures, advertisers will need to continue to refine strategies.