New Media Advertising!

Sales and Marketing started with the Door to Door Sales. Salesmen usually learned their way from the experiences. They were apt to answer any query; they had a thorough knowledge of the product.

Then mail order, Print and TV advertisement came, also known as conventional marketing. The sales were done through advertisement. And advertising is known as multiplied salesmanship. Lot of thought of campaign managers went through the creative. They were trying hard to sell the product to the masses. The Ad used to be designed, taking care of the broader masses and demographics. The managers spent time to optimize the space and time to create an awareness, interest, consideration and trial (AICT). And they were able to get hold of larger mass with less cost. It became a boom. The Ad spending started increasing and so the sales because of them. Companies started venturing into the different geographies, the cost to reach the new customer was low and local know how was minimum to create a demand.

Now time is changing. New media is emerging. We can already feel the slow transition from conventional to new media. New Media brings more opportunity to advertisers. But why are we talking about new media? New media is future; it is digital, clearer and less costly. In no time new media will gain over Print and TV. They will be replaced by Internet and IPTV. Apart from being more clear and cost effective, new media will provide something which none of the mediums have provided above. They will provide us with measurement and control.

Measurement: Ability to measure the exact number of times a particular ad shown to a particular user in a particular region, with specific interest. A particular user means someone who is male/female with age.

Control: When we can measure all the above parameters, that mean there has to be way, where I can control them. Yes there are ways.

With New Media, Advertisement not only becomes cheap but very much effective. That means advertisement cost per sale goes down.

Now the big question: How do we tackle this? What can be the best strategy to create an effective ad? Simple, let’s go back few decade back, where salesmanship was the king. Yes man to man. And now it becomes ad to man, not men.

 Eleven pointers to work upon!

1. Every creative will be very precise and to the point.
2. Creative will be created based on the user profiles
3. User profile can vary, based on demographics, Time, Region and the user preferences.
4. Most importantly online user Psychic need to be figured out.
5. Creative displayed will change with the change in user.
6. There will no wastage of time and space, in terms of showing the same ad to the same user. Maximum an ad will be shown 5-10 times.
7. Assuming ad to be a sales person. Now ad will have only few seconds to convince the user and more importantly to grab his attention.
8. Lot of experimentation, test can be concluded without wasting the money and brand image.
9. Space will be a constraint. Lot of time will be spent on space optimization. Though it is not done today (Digital media)
10. Once a user attention is grabbed. There is lot of information and facts, which can be bombarded to him, for the final sale.
11. With online sales, lot of problems with distribution and dealers can be solved.

Retargeting

Lot and lot of hype is there on Retargeting on internet. I am trying to clear some of the myths, some of the confusion and ways to implement it.
what is targeting?
It is connecting the right user for the right product.
What is retargeting?
connecting the same user again for the same product or for the different product which might be of interest to the user.
How do we implement this?
Implementing it on internet is very easy, internet is about measurement, analysis and controlling.
Measurement, What need to be measured?
We measure the activities of the internet user.
How do we do this?
We measure it by the help of cookie. Cookie can tell us, where all the internet user has visited, clicked on which all ads. Once we know his interest, bang we can retarget him.
How do we analyze this data?
suppose the user clicks on Matrimonial ad, and then he go ahead and gather the info about the product. but he never purchased the product.
how do we analyze the data for retargeting?
we know his interest, and his willingness to buy a product. we can now retarget him for the same product again and again, till the time he don’t purchase it. Wow we have a sale now. and sale is what we wanted.
Here a little more we can add to this. since he has already purchased a matrimonial service, what more can we offer? can we offer him a loan. Yes we can, since he is getting married, he might need some finance. Lets offer him a personal loan.
and bingo, right on the bull’s eye.
Amazing, now this is where technology helps. we do this with the help of a pixel and a cookie, and some servers.
Who all can make use of retargeting?
Some of the good portals, where e-commerce, e-business is the prime source of revenue. like e-bay, Amazon, Rediff, Indiatimes shopping, comparison shopping and many more sites like these.
Adnetworks, Ad serving platforms like Right Media, Real Media, Double Click, Zedo.