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The art of ad optimization: Strategies for maximizing your return on ad spend (ROAS)
Advertisers aren’t very different from kids chasing fireflies with a jar in hand on a balmy summer evening. They strive to capture the best ad campaign ideas and make sure that every ad dollar is well-spent.
But just as tricky as it is to catch those fireflies, advertisers often struggle to get the most out of their ad campaigns. That's why ad optimization matters.
Let’s take a deep dive into this topic with insights gathered from the vibrant discussion between two Sprinklr team members, Guy Purchase, solution consultant specializing in advertising, and Sr. Director of Product Success Tessa Rudd at Socialverse 2023.
The art of centralizing data
In the conversation, Guy and Tessa delved into the significance of centralizing data. Here's what they had to say.
Streamlining complexity
Guy sets the stage by introducing the concept of centralization, a pivotal solution for the often tangled web of fragmented ad ecosystems. He said, “When I'm speaking to clients for the very first time, they describe their ecosystem as being very siloed with multiple accounts across platforms, countries and business units.”
Building on that thought, the first step, as Guy points out, is to bring all these scattered pieces together under one unified roof. This means having a unified ads manager — a central dashboard from which all campaign activities can be efficiently managed.
It also involves having access to a unified calendar for scheduling across different teams and a central repository that houses approved creative assets. The end result? Your teams gain unprecedented visibility, agility and valuable insights, driving the evolution of their ad performance.
Unleashing success with centralization
Centralization is the linchpin in mastering the complex world of ad campaigns.
Tessa, too, underscores that centralization is more than just a technical overhaul — it's a strategic pivot to adapt to the ever-evolving digital landscape. Streamlining coordination and governance might appear challenging, but the payoffs are tremendous.
It’s about simplifying, syncing and securing data, ensuring advertisers can navigate the modern digital landscape with confidence. Centralization, as seen through Tessa's experiences, can help brands create winning advertising campaigns.
Cracking the code of successful ad campaigns through data structuring
Guy and Tessa also broach the topic of data structuring. Together, they offer invaluable insights, stressing the significance of unifying data sources to enhance ad campaign optimization.
Standardizing KPIs for crystal-clear insights
Guy highlights the necessity of standardizing key performance indicators (KPIs) and unifying data sources.
In the dynamic landscape of advertising and marketing, it's common for platform KPIs to misalign with the broader business objectives. Therefore, he suggests integrating external data sources, such as web analytics, mobile measurement platform and internal attribution models. This approach ensures that all the essential backend data harmoniously coexists with platform KPIs, providing a comprehensive foundation for optimization and reporting.
Standardizing KPIs and merging data sources isn't just about achieving clarity — it's about unlocking the full potential of your campaigns. By harmonizing various data inputs, you gain a holistic view of all your campaigns, resulting in effective decision-making.
Interesting Read: Top social media KPIs for every business
The power of structuring data
Structured data serves as the bridge to a unified perspective, harmonizing diverse audiences, attributes and custom metrics across all paid social channels. Tessa concurs with Guy's insights, emphasizing this transformative power of structured data.
The success story above emphasizes that it's not just about numbers — it's about informed decisions and strategic insights that shape the trajectory of your ad campaigns. The speed of data-driven insights, exemplified by the pivot-based reporting tool, is pivotal in today's rapidly evolving marketing landscape.
So, remember that data structuring and unification are important for unlocking the full potential of your ad campaigns. It's not just about standardizing KPIs — it's about seeing the bigger picture, uncovering insights and making decisions swiftly.
Unlocking the power of AI with Sprinklr
Talking about data, Guy and Tessa next move on to discuss how advertisers can harness the capabilities of Sprinklr's AI and automation to optimize their campaigns.
A leap in optimization
Guy starts by emphasizing the transformative shift that occurs when all platform and backend data converge into a single system. This convergence acts as a gateway for advertisers to harness Sprinklr's suite of AI and automated optimization tools. It's like upgrading from manual labor to a team of tireless digital assistants.
This shift from manual to automated processes marks a pivotal leap in the ad optimization landscape. It empowers advertisers to optimize their use of resources and execute campaigns more efficiently.
Automation v. Manual challenges
Guy is quick to highlight the challenges faced by advertisers lacking access to automation capabilities. For them, optimizing campaigns is a tedious process, from downloading data to crunching numbers in Excel and then hopping back to a different platform for execution.
Manual workflows are time-consuming and susceptible to human error. Automation simplifies this process, saving time and ensuring precise decision-making.
Real-time insights with Sprinklr
Guy also emphasizes the seamless integration of Sprinklr's reporting functionality with its optimization engine. This ensures that insights are swiftly transformed into actionable strategies.
Having said that, in today’s fast-paced world of digital advertising, the ability to act on real-time insights is invaluable. It empowers advertisers to adapt and optimize their campaigns on the fly, maintaining their competitive edge.
Tessa joins in, highlighting the remarkable potential of data that is structured and unified.
Real-world success stories validate the power of AI and automation. They showcase that these tools are not just theoretical concepts but practical solutions that can propel your ad campaigns to new heights.
AI and automation are powerful tools that simplify processes, enhance efficiency and provide valuable real-time insights to advertisers. They can help you gain a competitive edge.
Time to double down on ad optimization
From centralizing your data for streamlined campaigns to the power of structured data and AI, we've discovered the secret to ensuring your ad dollars work harder and smarter.
That secret is none other than ad optimization. Just like the brightest fireflies in the advertising cosmos, with optimization, your ad campaigns can shine bright.
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