Dynamic creative optimization (DCO) has become the top need for modern advertisers not just for search but also for determining the effectiveness of social campaigns.
“Dynamic creative advertising” has simplified the process of advertisers building different creative for specific audiences. The DCO platforms have helped marketers to build real-time advertising campaigns through programmatic means to fit the audiences’ needs. Marketers can choose amongst two different technology forms under this platform: dynamic creative optimization and compelling creative. In both cases, the platforms focus on optimizing campaign performance through various technological means.
Dynamic creative advertising has recently witnessed a sudden rise in awareness, mainly because brands have gained access to robust digital platforms over the years using artificial intelligence (AI) or machine learning (ML). These are useful in considering vast amounts of data to find target audiences, optimize budgets, and target ads.
Programmatic advertising has transformed the bidding and creative delivery process, helping marketers to more effectively and efficiently target and retarget audiences. And, its data that powers all this. Marketers have access to all sorts of data about consumers that were inaccessible earlier, such as location, demographics, purchasing and browsing history, etc.
Dynamic creative uses multiple videos, images, and text for each asset, such as the body text, title, description, CTA, etc. With short headlines and descriptions, such dynamic creatives immediately attract the audience. Experimentation is the key; marketers need to be creative with a variety of images, videos, headlines, and CTAs. Even subtle changes yield very different results, making the marketing campaign an unexpected hit. Before implementing DCO, marketers should take a methodical approach to A/B testing.
Using a range of call-to-action buttons could be a good strategy. There could be instances where the least expected one actually leads to better performance. Firms often overlook first-party data and the leads that they’ve already cultivated. Nurturing older users is always preferred as it adds more value. Many times marketers miss out on the opportunity costs. Testing multiple versions of specific ad gets expensive quickly with a dynamic creative optimization platform. It’s easier to run multivariate tests comparing ads. But, marketers may have thousands of different ad versions needed to run to get enough data to monitor the opportunity costs. Regardless of the associated expense, testing is a must for any dynamic creative optimization tactic to be successful.
Two key elements that make a creative campaign successful are the people and the technology that is employed. It’s essential for teams- marketing, IT, media buying, and creative development that have traditionally not worked together to collaborate and communicate. To be successful, these teams will rely on each other for seamless information transfer on campaign analysis, creative performance, and technology needs.
Likewise, with the technology, it’s crucial to find platforms that integrate well together as the dynamic creative relies on real-time targeting, media buying, segmentation, creative analysis, and more. So, it’s vital to have technologies as a part of a seamless stack.
The dynamic creative optimization will continue to evolve as the algorithms get stronger and more functionality becomes available to marketers. The implications of such algorithm-dependent tools are enormous.
Dynamic creative optimization has changed the entire advertising game, and it will play a lead role in transforming the future of marketing.