Data has always been the backbone of business decision making. And the advent of modern data collection tools is leading to data deluge. Today there is more data available than ever before and it is practically impossible to process and act upon all the data. The challenge of sifting through large volumes of data to find out what would be best for a campaign is more acute today than at point of time in history.
Commercial creativity is undergoing paradigm shift with availability of larger data sets. Today, big data can help ask and answer the right questions from the audience, look through different scenarios and provide a slew of insights that provide a viable edge for creatives.
The marriage of data and creativity maximize the consumer engagement with the brand. Though storytelling must and still remains paramount, the aforementioned combination of creativity and data is helping companies expand the richness of consumer experience.
Data Enhances The Story & The Story Telling
The key to effective storytelling - which is one of the reasons why creatives are so crucial in a data-analytical story creation - is that every story has to have a purpose. And to do this, a brand has to be clear about the message they want to deliver to their target audience. Data can not only help in crystallizing the purpose but also contribute to effective story telling in a number of ways
- Personalize the story
Since customers in the digital era desire experiences that are uniquely-tailored to their preferences, those brands that incorporate personalization into their marketing strategy are the most successful ones.
There is an average increase of 20% in sales for marketers that use personalized web experiences. Besides that, personalized Click-Through-Ads produce a 42% higher conversion rate than regular Click-Through-Ads.
Micro-segmentation, using advance customer analytics platforms, can further enhance the personalization by identifying consumer behavior patterns across different touch points.
- A/B Testing to identify the right mix
Every story can have subtle variations that can make a big difference to the outcome. On the fly A/B testing and analysis goes a long way in identifying the most effective creative work. Netflix has perfected the art of A/B testing. In every original story, there are dozens scenarios that are rigorously tested with a subset of active users. The winning ideas are then exposed to the wider audience. Through A/B testing Netflix has been able to achieve a 20-30% increase in video viewing.
- Predictive analytics to reduce the wastage
Predictive analytics takes the guesswork out of the creative development process and thus allowing advertisers and designers to acquire more control over developing and running ads that work. Data mining, modeling as well as statistics can be used to to predict consumer behaviors or outcomes of marketing efforts. Big data can help creative teams craft purpose driven precise messages for different demographics.
Data can enhance creative delivery
Most businesses these days deploy some form of Data Management Platforms (DMPs) and Demand Side Platforms (DSPs) to drive their sales processes and this is the first source of data that can be used to develop data-driven creative delivery. Some of the common data driven creative delivery options are: available with these systems are:
- Contextual data: helps enable targeting creative that is based on the content viewed by the user. This captures both the content and the keywords that are displayed on the page. Contextual data is especially effective for targeting the current web behavior of a user which helps align the ad messaging to the content that the user views.
- Behavioral data: this enables targeting based on a user’s prior online browsing behavior anywhere on the internet. Placing cookies on websites captures several behaviors such as page views, the number of websites visited, downloads, clicks, and video completions. Other users with similar online behaviors are grouped together in one segment and then targeted with a message that is relevant to their interests.
- Demographic data: provides data on who the customers are, such as gender, age, income, marital status and the size of their household. Demographic-based segmenting is one of the common ways group as well as target audiences with similar characteristics.
- Psychographic data: gives insights into why customers should buy from a particular brand or company, like personalities, values, beliefs, and lifestyles. Psychographic data offers doable information on the consumer behavior’s psychological aspects so that it can help clarify who the target audiences and what their motivations are.
Data driven creativity has arrived and it is here to stay. Every passing day will see more and more usage of data in the creative world. While data does help in enhancing creative and creative delivery, data by itself is meaningless unless paired with some creative thinking.