Retargeting

The food and beverage industry has always been incredibly competitive. After all, food is important to all of us. It’s not just a necessary source of nutrients, protein, and fiber; it’s inextricably linked with culture, community, family, and friends. It brings comfort, togetherness, even bliss. It’s the way to our hearts.

But in recent years, the competition in food & beverage has reached a boiling point. There’s been a feeding frenzy as a horde of new players has entered the fray. Between any brand and a customer’s table lies a crowded, fiercely competitive marketplace. The advent of food apps and a growing consumer expectation of convenience has further heightened the competition. The latest digital technology provides unprecedented convenience for the consumer and a widening plethora of choices.

How can Deep Learning boost own-site sales for electronics brands?

1. There are a number of challenges that electronics brands face when encouraging customers to use own-site channels.
2. The first is the popularity of comparison sites, that typically push customers into a “price-first” mindset.
3. The second is the fact that telecoms providers typically provide a phone as part of their subscription contract.
4. This means that electronics manufacturers are forced to take a loss paying a commission to third-party sales platforms, when they could increase their margins through sites they own and operate.
5. To promote own-site sales, electronics manufacturers must showcase the benefits of a direct purchase, including improved warranties and customer support.
6. Deep Learning powered marketing techniques make it possible to target users most likely to be receptive to this message, maximizing the impact of each campaign.

Way back in the late 19th century, the U.S. merchant John Wanamaker coined the often-quoted phrase, “Half the money I spend on advertising is wasted, the trouble is, I don’t know which half.” It was true then, and it’s still true for many businesses today. But, if you do want a clearer picture on where to best focus your budget, there are sophisticated digital tools out there now that can help. But which tools and methodologies should your brand use?

This is not a sports blog, but the story of Billy Beane and the record-breaking 2002 Oakland A’s streak of 20 consecutive wins which actually has a few things in common with running successful data-driven marketing campaigns.

They are both stories of finding value in data that others are not able to uncover or effectively utilize for competitive advantage.

In a recent article, we looked at how a deeper data-driven approach brings higher quality targeting opportunities. We looked at Billy Beane, legendary GM of the Oakland A’s baseball team, and showed how his fresh thinking and belief in data revolutionized the sport.

Along with addressing the question of what retargeting is, we’re going to dip into baseball one more time to explain what exactly those “targeting opportunities” are. Let’s talk about how you get three strikes for every customer, and three big opportunities for success.

Online purchases now account for approximately 20% of all fashion sales, and potential customers can engage with your brand across multiple channels. This constant communication has transformed the way fashion ads are delivered to customers and greatly expanded the potential for personalization.