With marketing and advertising becoming more fast paced across all verticals, it may feel like your company is living life…well, in the fast lane. Today, we are going to take a look into how a data collaboration platform (DCP), like Lotame’s Spherical, may be important for auto marketers to reach that next level with their data-driven marketing campaigns. Below you will find 8 ways a DCP can help the Auto Vertical:
- Bringing Audience Intelligence to Television: Let’s say you own the advertising efforts for Lexus. You have really tapped into and perfected the art of data-driven digital advertising, but you want the same audience-targeting abilities for your TV buys. Interestingly enough, a DCP can help you with this. Lotame’s CTV solutions offers auto marketers the ability to improve audience planning through deep TV analytics via the DCP. This means you can combine the audience insights you have in your DCP to reach the same audience on CTV, and vice versa. Your targeted CTV buys can go beyond just demographic panels to reach key consumers by networks, shows, or dayparts, while gaining a deep understanding of how your audiences switch between TV and Digital.
- Onboarding Offline Data: Most cars are purchased offline. You may have consumers who show an interest digitally, but at the end of the day, they want to take a look at the car and test it out in person. That is why it is important to be able to track those offline purchases. DCPs offer the ability to combine data from any source — including online, offline, mobile, social, and beyond— into one platform for a holistic view of your customers. Once the data is combined, it can be used for audience profiling, digital media activation and personalization to improve engagement with new and existing customers. Lotame Onboarding can help bring your CRM or other offline data sources online, to be combined with other data for a complete view of your audience across screens.
- Campaign Optimization: To make your campaigns work harder, a DCP can then optimize your already high performing audiences. For example, a male in his 50’s recently bought your top of the line sports car. If you want to reach more of these consumers most likely to buy your sports car, why not have your DCP tap into that demographic audience and search for other males in their 50s who have searched the web scanning for sports cars? By finding those lookalikes, you are optimizing your campaign and ultimately reaching a higher percentage of possible converters. That means your clicks go up, and hopefully sales will too as you reach more consumers most interested in what you’re selling. Lotame’s Data Informed Audiences is our machine learning offering that helps identify lookalike audiences so you can reach more of your target audience to increase ROI.
- Personalization: Consumers today expect a certain level of service, and not everyone is shopping for the same thing. Personalizing your messaging or even the cars you are showing to specific audiences means consumers can more quickly and easily find the products they are looking for. With all of this centralized and aggregated data at your fingertips, you are easily able to depict the kind of story that you want to tell to your different audiences. For example, a new mom should probably be getting a different advertisement for your SUV than a brand new driver, fresh into college. You want to target them for the same reason…to advertise your safe, cost effective, fuel efficient car…but chances are, they will want it for different reasons. That’s why content personalization is KEY! By tapping into your first-party data as well as a DCPs third-party data, you can determine customized content for different consumers when they visit your website.
- Cross-Device Targeting: People don’t just use their computers anymore to search the web. Chances are, while they are out during the day running errands, they are probably looking on their phone. And while they are in the waiting room at the doctors, they may be on their tablet. Consumers today have up to 3-4 devices at their fingertips, and advertisers need to be aware of how to send personalized messaging across them. A cross-device solution helps you determine the type of relationships you want to build with your audiences across all devices. Through this technology, different devices can be mapped together, creating marketers with the opportunity to transform and personalize their advertising to tell different stories at all hours of the day.
- Tapping into Third-Party Data: Your first-party data is super valuable to your advertising, and while you may have perfected targeting those specific audiences, it’s hard to do so at scale. How can you find more consumers who may convert? The Lotame Data Exchange is our third-party data exchange that gives you the ability to scale and increase your potential customer base, or use the additional insights to learn more about your ideal consumers. Lotame also gives our clients the ability to access branded data from over 40 leading third-party providers, such as Mastercard, Acxiom, Datalogix, and more, directly inside our UI.
- Second-Party Data Through Data Collaboration: Beyond third-party data, Lotame also offers the ability for data collaboration with partners of your choice. Second-party data offers access to high-quality data sets directly from their owner, so there is no question of quality or source. This can all be done privately, allowing you to have full control over what you are sharing and how it is used. All the while, giving you the ability to build relationships with companies inside and outside of your vertical. For companies concerned about data privacy and quality, second-party data is often a very strong option after first-party data.
- Data Firehose from us to you: Maybe it’s the data that is most important to you. Maybe you have a team of brilliant data scientists who can analyze your data in-house? Well, with a Data firehose solution, much like Lotame Data Stream, you have the ability to export your first-party data as well as any other Lotame data, in real-time, to your company’s proprietary in-house platforms. Data Stream offers marketers the ability to support your data science needs, including product and content recommendation engines, personalized experiences and messaging, and other proprietary modeling. We supply the data. You supply the science.
To stay ahead of the trends and ensure that you are marketing the right content, to the right people, all at the right time, you need to tap into the expertise that a DCP provides. These are a few of the many ways a DCP, and specifically Lotame, can help marketers in the auto industry.
Contact us to set up a time to talk or to schedule a demo of our DCP.
