Customer experience is the X-factor that outweighs all of the bells and whistles every Ad Tech firm brags about and all the lofty claims of multiplying clicks and conversion rates. And in a world dominated by automation, it seems as though customer experience has taken a back seat.
Keeping up with customers is about expectations: Customers are depending on visual models to help make their buying decisions. Displaying relevant ads are essential to this process and is one of the biggest factors when it comes to brand awareness and/or making a purchase.
The problem is that firms are spending more money on advertising rather than the customer experience. For many, this has had a negative impact on customer retention and the ability to effectively communicate. In fact, 83% of customers are more likely to trust independent sources over advertising and marketing.
Individualization Through Big Data
As you know, big data analytics is changing how businesses target their customers. The availability of information is bringing insights into customer behavior, preferences, and issues that impact the customer experience.
When leveraging big data, marketers have an opportunity to treat customers more like individuals — and build meaningful long-term relationships. Big data serves marketers by enabling them to provide customers with ads that are relevant, help them improve customer interactions, and identify customer pain and passion points more effectively.
Opportunities for Ad Tech
Ad tech remains one of the world’s fastest growing industries and is often quick to use new technology. By building new solutions with a focus on individualization, ad tech providers can introduce new and more effective ways to help marketers get their online ads seen and generate a positive response.
When in comes to individualization, companies such as Tapad are solving one of the crucial puzzles of ad tech: how does a marketer follow an individual from device to device?
To fill this gap, Tapad uses complex algorithms to create a “probabilistic device graph,” which tells marketers how likely it is that the user of one device is the same as the user of another. Marketers can make advertising decisions and measure the performance of campaigns based on the resulting confidence interval.
Customer experience is essential to any industry, but in the ad tech industry, customer experience can be the one key factor that can earn trust from the customer and drive higher revenue.