Where will digital advertising go from here?
The digital landscape continues to change and evolve and so should your advertising efforts. Gone are the days of the “set it and forget it” campaign management philosophy.
Now, it takes a conscious effort to maximize advertising returns on key performance indicators. Do you know why? Because all of your competitors are using the same third-party data that either you or your agency are currently using! Additionally, the same tools and platforms that you are currently using are just as available to your competitors as they are to you or your agency. Your advertising may have been well targeted to your core demographic and produced fantastic results in the past; however, the tides have changed and so should your digital marketing efforts.
What happens if you do not change your strategy? The lack of revenues generated from your failed advertising efforts means that there is now even less money to invest back into the program. You see, it is a vicious cycle. So, how do you carve out a competitive advantage? It is easy! Use your first-party data (your database) to increase your revenues and grow your market share. Casino marketing has long been dependent upon the information contained in the player tracking system and has wielded large returns for almost every operator. If you use the same platform and tools as your competitors combined with your own first-party and third-party data then you can begin to carve out your competitive advantage.
How can you make the customer journey better? For starters, those in your database are already familiar with your brand which reduces your expenses which then allows you to spend where you are likely to make the largest impact. The more focused your data (in casino marketing, we call it segmented), the better your customer experience. And remember, your media budgets and multi-moment customer experience journeys should be planned across channels, not within them. Your measurement and consumer insights are likely to become clearers and by using your first-party data you are more likely to build long-term customer value.
In short, use the information already at your fingertips! Get creative and start building your competitive advantage, but be sure to keep your information safe.