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BizReport : Advertising archives : January 30, 2015

How new data collection techniques may impact your business

Gathering not only data about where traffic originates or which products are purchased online, but data based on customer feedback and the entire purchase funnel may be a big influencer for brands in 2015. One expert explains.

by Kristina Knight

Kristina: Looking ahead to 2015, how will new ways of collecting/using data impact advertisers?

Bismarck Lepe, Wizeline CEO and Founder: It used to be that publishers alone were the party responsible for creating and maintaining a high-quality user experience - this in addition to the content in question, be it an article or a video clip. In the past 3-5 years, smart publishers have come to recognize the value of content recommendation and personalization. Those that create great viewer experiences are able to grow and engage their audience - and ultimately, drive higher user lifetime values.

Kristina: How does this pertain to advertisers?

Bismarck: Well, it's clear that many advertisers have jumped on the programmatic trend - what was once the exception is fast becoming the rule for the smart brand dollars. What we see now is a trend toward the quality of the end user experience being owned primarily by publishers - but that brand advertisers are starting to take join ownership of this, as well. Look at the incredible improvements in behavioral and demographic targeting (again, over the past 3-5) years - as well as at the rise of sponsored content. In many ways, brands are increasingly viewing their target audiences as consumers not only of their products, but also of their content. These trends are rooted in the smart application of engagement data.

Kristina: How important is it for brands to begin looking not just a behavioral or demographic data, but at data from across social networks and other sources?

Bismarck: Gathering data and clues about what product features and updates are most important to customers is crucial to market success. Behavioral and demographic data is useful, but social media provides insight into brand sentiment and helps gives marketers a more complete picture of the customer mindset.

With Wizeline, PM's are able to gather traditional data about how products are received by customers and use those insights to help inform what products that should be built. Using a proprietary algorithm, Wizeline is able to identify the biggest market opportunity using all of these data inputs.

Image via Shutterstock

Tags: advertising, data analysis, data collection, ecommerce, Wizeline

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