Marketing leaders today have to get bullish about the kinds of sophisticated advanced analytics tools we choose and use—because each month that passes could represent lost revenue if we’re not making data-informed decisions based on accurate cross-channel data using the latest analytics approaches.
With the COVID-19 pandemic impacting businesses everywhere, there is added urgency to be confident in the campaign and spend decisions we’re making both now and as we look toward recovery. Two of those recent and big decisions have been around adjusting ad spend and messaging:
So, with reduced spend and the shift to brand advertising, the next challenge for marketers is to tackle how to squeeze the most out of what they do have in play. Again, the solution can be found in the data.
Recently, Ken Gardner, Founder and CEO at conDati, presented a webinar that tapped this exact topic, showcasing how you can transform your digital ad data into intelligence that can be actioned and activated easily (and often) for higher revenue lift.
In this blog, I’ll cover Ken’s presentation highlights, showing the specific steps we can take to lift revenue out of places we didn’t know existed.
Below are the most common digital advertising practices conDati is seeing that can keep companies from unrealized revenue. Each of the examples represents opportunities to shift ad spend and maximize revenue potential.
In his webinar, Ken showcased how an online retailer leveraged conDati RevenueLift™ (an AI-driven marketing platform for campaign decisioning and predictive analytics) to drive an impressive 13% lift in e-commerce revenue over a historically low holiday period. More specifically, he did a deep dive on the use of the RevenueLift Optimizer on the customers brand campaign in Google Ads for a 7% lift.
"Essentially what RevenueLift Optimizer is doing is looking at saturation levels across all the micro segments of your campaign and precisely identifying every pocket of opportunity available to you within that campaign."
—Ken Gardner, Founder & CEO, conDati
Using this process, the eTailer highlighted in the webinar saw 7% lift over one month for their brand campaign, resulting in a daily campaign revenue increase of $1,300 which adds up to a tidy sum for this company when aggregated across a whole year. And remember, this is just for one of their campaigns. These results were achieved by making weekly bid adjustments. The customer was able to download a CSV file from within the conDati platform, then upload the file into the Google Ads UI to implement the changes within minutes.
"There are big opportunities for companies to get between 20 and 50% additional yield from paid search advertising using the targeting analytics in RevenueLift Optimizer.
—Ken Gardner, Founder & CEO, conDati
As marketers, we’re all thinking about how to set ourselves up post-COVID for a quick revenue rebound. Thankfully we are in a position to plan ahead and start exploring options – do you go back to the way things were before or take this opportunity to step things up?
If you are curious how AI can power prescriptive bid optimization recommendations for your organization, we’d love to talk to you. Schedule a demo of RevenueLift™ Optimizer today.
To watch the full 28-minute webinar “Squeeze More Revenue Out of Your Brand Campaigns: conDati Shows You How” highlighted in this blog, access it here.