Act Instantly - Optimizing in real time

Posted by Pocketmath on Mar 16, 2016 4:04:00 PM

Topics: Tips & How to

The U.S. Census Bureau estimates that world population in 2019 will be 7.6 billion. By then, more than 63% of the world’s population will have one or more mobile devices.

That is more than 4 billion mobile devices in use in 2019.

GSMA Intelligence, in its Mobile World Congress Daily opinion, predicts that 2.5 billion mobile connections in the next five years would be smartphone connections.This suggests at least 50% of the 4 billion mobile devices used in 2019 will be smartphones.  

As a marketer, it's obvious that for  the foreseeable future, mobile marketing is the strategy to reach your customers. No other media channel has the power of its reach or immediacy. With many marketing channels, seeing campaign results means waiting for weeks or days and this industry expectation continues today.With mobile campaigns, you can now see how customers respond to your marketing messages in minutes.

Creating a mobile campaign is straightforward. Depending on your vendor, it is as simple as specifying your budget, the campaign run time and the maximum CPM (cost per thousand impressions). After that, load up the creative(s), select your target geo locations and run your campaign.

These days, the conversation isn't just about whether to go mobile but whether to invest in real time feedback that allows you to capitalize on mobile's instantness.

Analyze, Adapt, Do it Again.

Having real time access to spend, impression, click, and conversions obviously makes a difference to campaign performance. Immediate visibility into campaign metrics gives you the ability to do rapid-fire A/B testing. 

Try different messages, different creative, banner sizes or even demographics and targets to capitalize on the parameters you get better performance for. Use zip code and publisher data to further improve your return on ad spend. You can “blacklist” apps or sites that don’t fit your brand image or that don’t meet your performance standards. You can target certain ISPs, operating systems, geo-locations or device identifiers to refine your optimization.

Sounds like a lot of work? Not at all. With real time, you have the visibility and granularity to exactly see what is working. This gives you the ability to precisely target your marketing personas to accurately deliver content that matters to them.

Over time, this is likely to pay off as continual optimization will ensure you're not wasting ad spend, which means cutting costs and maximising the revenue earned by your company.

Why is the technology important?

Many platforms take hours or days to provide insight into campaign performance. This results in wasted marketing dollars and less than stellar results. It’s frustrating, inefficient and completely unnecessary. 

When marketing is happening this fast, you need a powerful platform that has the horsepower to harness huge amounts of data in milliseconds. Why is this important?

Let's take us as an example.  On average, the volume of data moved between the ad exchanges and PocketMath per month is about 1 petabyte (10 million gigabytes). Firstly, this volume of data is much larger than what most traditional business intelligence tools can handle using servers model without incurring more fixed costs. Secondly,  in order to deliver results quickly, this data needs to be processed within a quick turnaround. The third challenge would be making sense of all that data to deliver results.

To unlock "real-time" insights, we built our platform to prioritise speed and performance in data processing. The next step was to open up the next “big data” analytic capabilities  that crunches the data and more importantly, delivers the metrics our clients are looking for in real time.The analytics engine reports back in real time to the user interface so you see the results of your change immediately.

Understanding how to harness the technology that drives real time makes it easy to understand how your campaign is doing out in the wild, and to react effectively to changes to improve performance.