How would you describe first-party data as used in your Performance Marketing Award win?
First-party data is highly valuable internal advertiser data from its CRM or BI systems. It includes anonymous consumer information that enables us to better predict future shopping intent, such as user type (new, registered), internal segment (VIP, dormant etc), expected life time value, and more. In addition, product information such as margins per product can be leveraged to substantially boost ROI.
How important is the use of first-party data now?
SD: A powerful source of data that is usually left untapped, first-party data is only available to the advertiser, providing a rich, extensive and extended view of the consumer. myThings' ability to automatically integrate this data within our optimisation engines is a game changer. This is very important given the ultra competitive e-commerce environment. Intelligent use of this data aligned with precise execution can be the difference between success or failure.
How is dynamic creative produced and displayed?
SD: Dynamic creative is produced by inserting product images and data into pre-approved brand templates (usually IAB ad formats) Product information is collected in two ways by either using onsite handlers to pull details in realtime or taking a feed from an advertiser. The optimisation engines analyse dat per impression and select content and layout most likely to generate a desired action (such as a conversion, in myThings' case). Creative is then being generated and delivered in realtime, based on the engines' selection. The content of the banner is based therefore on both the data collected on the individual, data regarding the 'crowd' that allows intelligent recommendations to be made and publisher side data normally related to performance criteria.
Why do you think the Littlewoods campaign was so successful?
SD: The groundbreaking use of combined 1st party, 2nd party (on-site tags) and 3rd party data - was an industry first and provided the foundation for the campaign's success. Multiple graphical templates were then optimised with real time messaging, creating thousands of live ads in the market. This resulted in the most relevant ads being shown to each individual potential customer.
What has evolved in your retargeting solution since the award win?
SD: myThings has continued to innovate both in terms of product development and technological advancement. We've launched new products supporting personalisation on mobile, video and social platforms. We've also extended our offering to include mid and upper funnel acquisition display campaigns. This includes a highly innovative pretargeting solution which leverages explicit user intent data obtained by visual recognition technology to deliver in market, quality users.
In a nutshell, we recognise, in real time, at which funnel stage a user is at and which device he is using and show him an optimised banner based on available data.
Critically we have continued to develop our algorithms and technology to handle even more data points and sources, giving us the ability to make even better micro decisions that continue to lead to fantastic macro results for our clients.