The Need for Speed: Why Real-Time Market Feedback is the Advertiser's Secret Sauce

Picture this: You're an advertiser in the ever-evolving landscape of marketing, navigating through a wealth of consumer preferences and trends. You've got your brand, your product, and a more than a sprinkling of hope in your pocket.

?

There may not always be a “secret sauce” that can take your advertising game from 'good' to 'absolutely fabulous', however with the wealth of data that is available to provide added value to marketing teams, there are opportunities to claim revenue that would otherwise have been left on the table or even worse, won by your competition. ?

?

For some companies purchasing from many different data sources, it can be a challenge to leverage the information in the best ways. By adding context to that Data, it can transform into actionable insights, which can be used to great effect in the right hands. With the advent of complex Customer Data Platforms (CDP’s) brands now can curate much more precise interactions with their customers and prospects. Building out an understanding of the different tribes of buyers and what they individually value about the brand, helps when it comes to activating audiences through specific campaign investment.

If you can shorten the window between the collection of data and the output of insights, there may be even greater rewards when competing in a fierce marketplace such as Retail. Enter the advantages of receiving market feedback in real time– it's like adding a little sports science to guide your best practice through a maze of marketing channels.

?

So, why should you care about speedy feedback from the market? In this fast-paced world, every second counts. It's like that time you were running for the train home, and you just managed to slide through the doors as they were closing. If you had missed the train, part of the pain is that you have wasted productive time on the platform waiting for the next one. As a side point it is at this exact moment that you become a perfect prospect for a message offering you a coffee or snack at the station. If only they knew you had just found some spare time, eh?

?

The same scenario is emphasised when you have a large omni channel marketing machine, not only investing in messaging, but also seeking to optimise your messages and drive as much return from their addressable audiences as possible.

?

We’ve all encountered content promoting the power of knowledge, and believe me, it's not just a catchphrase. When you're an advertiser, knowledge isn't just power; it's the shiny golden key to unlock market leader status or solve challenges around personalising interactions with your most valuable customers. Real-time feedback is your direct line to understanding how your marketing efforts are faring. It's not waiting around for the smoke signals; it's having a hotline that buzzes the moment something happens in the market.

?

Think about it like this: Imagine you're in a detective movie trying to solve a case. In this example the ‘case’ would be successfully understanding what your prospective customer is likely to buy and then driving them towards that action. You have all the clues, but others (competitors) are a few stages ahead of you. As a detective you can only be responsive to the evidence as and when it is presented to you. Real-time data turns you into the Sherlock Holmes of advertising – you're right there, on the scene, making deductions as the clues unfold. Importantly, you also keep up with the competition in the market.

Now, let's toss in a sprinkle of digital inspiration. As Steve Jobs once said, "The only way to do great work is to love what you do." - There aren't many better ways to love what you do than when you see the immediate impact of your efforts.

?

Technology partners providing real-time data are abundant in the market and many offer API connections into central platforms to provide their customers with a responsiveness they could only have dreamed of a decade ago. With real-time data at your disposal, you'll have the tools to keep your business on the cutting edge, seeing exactly how your media is performing on every channel, at every moment and optimising on the fly for the best outcome.

?

In conclusion, the speed of your feedback from the market isn't just a minor detail – it's the magic potion that turns your advertising endeavours from just another campaign to a personalised branded narrative. If you want your customers to love your brand, then you need to understand what makes them connect with your story and ensure that content is landing where they will find it. ?Embrace the power of real-time insights, and who knows, maybe you'll be viewed as a trailblazer, the trendsetter, and the star of your advertising show. So, grab your laptop or your smartphone – and find out how the speed of market feedback can propel your marketing investment forwards.