Retargeting

In a recent article, we looked at how a deeper data-driven approach brings higher quality targeting opportunities. We looked at Billy Beane, legendary GM of the Oakland A’s baseball team, and showed how his fresh thinking and belief in data revolutionized the sport.

Along with addressing the question of what retargeting is, we’re going to dip into baseball one more time to explain what exactly those “targeting opportunities” are. Let’s talk about how you get three strikes for every customer, and three big opportunities for success.

To do a job well, you need the right tools. With better technology, we can evolve and build a better world around us. And with personalized retargeting for home & garden, any home improvement organization can evolve at pace.

When we think about data in the modern world, our thoughts often land upon the famous line from the Rhyme of the Ancient Mariner, “Water, water, everywhere, but not a drop to drink.” Just as ancient sailors could be surrounded by undrinkable ocean water, today we’re drowning in so much data that it can become impossible to leverage its power. Well, it’s impossible without the right tools in any case. As the amount of data we collect has grown, we’ve developed tools that can help us analyze this information and turn it into something useful. The most powerful of these tools is undoubtedly Deep Learning. To understand why, let’s take a look at some of the top Deep Learning applications.

The hardest part of business is not usually envisioning where you want to be, it’s implementing a plan of action in logical and effective steps in order to get there. When we’re making plans, these steps will inevitably include a Deep Learning powered retargeting campaign, but let’s not get ahead of ourselves.

Instead, Let’s start with a simple statement:
“We want to increase online sales”.

There are many ways that you might do, such as; improving your online store’s UI and UX, increasing product range, and running promotions. However, the most likely solution is digital ad campaigns. So, you can add focus to your original statement by saying:
“We need to run digital ad campaigns to increase online sales”.

Many companies make a couple of missteps at this point by trying to skip to the end or doing things out of sequence. Here’s a simple breakdown of the questions you need to ask… and the order in which you ask them while evaluating your advertising model options.

Sports brands were already trendsetters but their relevance has increased over the last two years as lifestyles have changed. People have become health conscious and are actively taking part in fitness and well-being activities. Meanwhile, the global shift away from offices (and from more formal officewear) has turned sports clothes manufacturers into the de facto tastemakers of the entire fashion industry.

This is not a sports blog, but the story of Billy Beane and the record-breaking 2002 Oakland A’s streak of 20 consecutive wins which actually has a few things in common with running successful data-driven marketing campaigns.

They are both stories of finding value in data that others are not able to uncover or effectively utilize for competitive advantage.