With online shopping struggling facing challenges even as bricks-and-mortar store lose business, it is important to ensure that the performance marketing strategy and agency infrastructure are prepared for a fully digital future.
Investing in technology now is a reliable way to guarantee that one is prepared for the challenges to come in the future.
Technology enables automating manual, repetitive tasks, providing enhanced accuracy, and providing the staff with more time and flexibility to focus on strategic direction and enriching overall performance.
But which key takeaways should people watch out for when it comes to performance marketing, especially in this tech-focused future?
Transparency
It is immensely important to know the new technology clearly, to benefit from the time-saving advantage of automation as the decisions are constantly under questioning.
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It’s important to ensure the technology offers solutions and functions that align with the overall strategy and give the required confidence in the overall decision-making process. It is recommended to ask the provider for a trial to be aligned with the goals.
Goals
Retailers have goals based on overall business objectives and impacts, so it is important to ensure that the provider can optimize these. If one has multiple objectives working with each other, the bid management solution must be flexible enough to provide optimized outcomes.
If the need to manually intervene exists due to external factors, one can it handle such changes while still hitting the expected goals
Complexity
Multiple triggers can impact a customer’s propensity to buy, so it is critical to ensure that the solution can leverage all this information in its optimization process.
From general seasonality factors or stock issues, a weather issue, or different customer locations, it is vital that the tool can analyze as many factors as possible to maximize performance.
Audience
Most performance marketing strategies focus on following a customer-first approach, so it is vital that the tool clearly understands the need and is aligned with the strategy.
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It needs to be able to effectively manage audience bid adjustments across diverse ad groups and campaigns, ensuring that it understands the performance of all audience lists and sectors to determine how to down weight or up weight bids to meet the business goals.
Optimization frequency
Regular optimization is critical to ensure performance is efficient as well as drives maximum return on investment. The ideal bid management tool focuses on optimizing as early in the day as possible.
It also allows for changes to be adapted throughout the day to react to all unexpected changes in the landscape, including competitor promotion.
Interface
It is important to leverage systems that can offer all functions retailers could need, but a complex interface could hamper the savings.
There needs to be a proper balance between style and substance, ensuring that businesses have the functionality they need while making sure the tool is clear and simple to use to save both time and effort.
