How Data Driven Creativity Is Changing Advertising
Creativity used to be a nebulous concept. Traditionally, creative departments spend weeks, sometimes even months, coming up with campaign and ad concepts guided primarily by subjective creative instinct.
The dawn of technology and data science in the ad universe has completely changed the ballgame. Now, marketers are equipped with insights capable of informing every stage of the creative process from planning to execution. It’s no longer a “let’s get this out there and hope for the best” kind of scenario. We now know predictively what is most likely to work and when we should start refreshing ads as they begin to experience fatigue.
Data driven creativity is enabling brands to gather deep insights around their audiences as well as the best channels and ways to reach out to them. Ultimately, time and money are saved by using innovation to make creatives perform better in driving business goals.
Netflix is a great example of a data driven company that has successfully harnessed the power of data and insights. Every video comes with half a dozen images which are tested with a subset of the user base. The winning images are then used with all of Netflix’s members. By deploying A/B testing, the company has achieved between 20 to 30 percent increase in video viewing.
In an era where customers value unique tailored experiences, personalization is a must-have marketing strategy. Marketers see an average increase of 20% in sales when using personalized web experiences. Personalized CTAs result in a 42% higher conversion rate than generic CTAs.
Creating audience segments by identifying discernible patterns in behavior from data across all touchpoints is an effective way of personalizing your marketing efforts. Creatives and messages can then be tailored towards each target audience segment to bring about a personalized experience.
Predictive analytics uses data mining, modeling and statistics to forecast consumer behavior or outcomes of marketing efforts.