Advertising has evolved considerably thanks to technology. We now have access to more data and advertising mediums than ever before. While this is a great thing, it can be difficult to know where to begin.
Statistics show us that almost two-thirds of digital marketing leaders are still struggling with providing a personalized experience to their customers.
One of the ways you can combat this is with dynamic creative optimization (DCO). This is display ad technology that generates personalized ads based on data about the viewer at the moment the ad is being shown to them.
With that being said, below, we will explain everything you need to know about creative optimization, what it is, and why it is essential for your online business.
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What is Dynamic Creative Optimization?
Dynamic Creative Optimization, otherwise referred to as DCO, involves using technology to rapidly build numerous iterations of an advert utilizing the same base creative. The solution will tailor elements of the ad based on the audience, past performance, and context; this helps the ad to resonate with your target audience.
To capitalize on this approach, you need a reliable tool. Look for software that uses a range of campaign analytics and testing tools to tweak your ads effectively.
A good example is creative optimization with Creatopy. Some of the features of this tool include agile banner optimization, testing tools, reporting, and analytics. With a single place for all of your data, you will reduce manual work and continually improve your ads.
Why is Dynamic Creative Optimization a necessity for your online business?
Now that you have a good understanding of DCO and how it works, let’s delve a little bit deeper so we can understand why this is deemed essential for online businesses.
Run your online business much more efficiently
The key to any successful business is being able to achieve more in less time and without spending as much money. This is what Dynamic Creative Optimization is all about.
Let’s start by looking at the traditional approach: A/B testing. With this, you are only able to test one small element on the ad at a time. This is a time-consuming, manual process, and it is limited to specific variables.
With DCO, you can expedite your creative process. Your copywriters and designers will still need to work their magic, producing outstanding creatives. However, once this is complete, you simply hand the process to your DCO software, which creates several versions tailored to your target audience.
With better CTR and ad automation, you can save on wasted ad expenditure. You are not simply going to be casting your net wide, hoping to catch whomever you can. Rather, your nets will be strategically placed with the right bait to catch the big-game fish you really want!
Absorb data feeds from all channels
The data feed your DCO software has is a chief element to the success of your campaign. The data feed contains all of the content that is then utilized to deliver a dynamic advert in real time.
This change in utilizing data feeds for marketing has only been around for the past few years, yet most professionals use data feeds to support their online marketing.
DCO does not need a third party to absorb data, and it is incredibly flexible when gathering and processing different types of data.
Data feeds and DCO are more reliable for marketing professionals, and it gives them the ability to target a large number of users on a personal level rather than just trying to reach the masses and cross their fingers for the best outcome.
What this means is that marketing professionals also have a broader understanding of how data feeds support Dynamic Creative Optimization.
DCO is experienced-focused
Customers are accessing brand content every second of the day, and this has meant advertisers have had to improve their efforts to ensure that their content is consistent and of the highest quality.
Today, we access so much of what we need from online sources, and we expect our experiences to be interesting and personalized whenever we are online.
We have so much content available to us, so if we do not find something that satisfies us from an experience standpoint, we will move on to the next best thing.
With Dynamic Creative Optimization, marketing professionals have the ability to deliver a much-improved experience for consumers.
Advertisers are able to access deeper audience behaviors and insights than they have ever been able to, which means they can target adverts more specifically and deliver ad experiences that are incredibly engaging, driving a much better performance overall.
Tackle ad fatigue
Ad fatigue occurs when someone sees your ad again, and again, and again, with the same creative! As time goes on, the customer becomes numb to your efforts. After the 20th time of seeing the same advert, it goes over their head. They start to ignore the campaign that you have spent so much money on.
When this happens, your clicks and conversions start to fall. The end result is a poor Return on Ad Spend.
With DCO, you keep things fresh for your customers because you generate countless variations of advertisements.
Higher Click-Through Rate (CTR)
Your click-through rate is a metric that measures the number of clicks your ads receive. If your ad is resonating with your audience, they will click on it. Therefore, this is one of the most important measurements.
Dynamic Creative Optimization can help you scale your brand by using personalized, unique ads, and many variations of them. As the content is highly relevant, the message is much more likely to connect with the viewer. This increases the chances of people clicking on your adverts.
Another reason why DCO is imperative for online businesses is that it enables you to reach customers who display an interest in specific services and products by understanding their needs and online actions.
When you combine DCO with customer buying in real-time, you get a direct and unique reach to the audience as opposed to delivering generic adverts to the masses.
Marketing professionals can manage the reach and scale of their adverts with access to huge quantities of data with technology platforms applying it to display marketing campaigns.
Boost brand awareness
Do you want to reach a new market segment and make a positive impression? Dynamic Creative Optimization contains personalized, smart messaging, which gives you the ability to speak to the different needs and pain points your consumers have.
People feel much more connected with your brand. In fact, research has shown that 71 percent of consumers would rather personal ads. People are twice as likely to click on an advert for an unknown product or brand if it has been personalized. This makes DCO a fantastic way of boosting your digital brand presence.
How to create a DCO campaign
As you can see, the benefits associated with DCO are extensive. If your online business does not embrace this approach, you are only going to end up being left behind by the competition.
We have already spoken about how important it is to choose a DCO tool effectively. Aside from this, there are a number of other things you need to do to create a winning DCO campaign.
Defining your scope is critical to start with. What are your chief objectives? Begin with well-defined end goals and KPIs. It is vital to identify what success looks like so everyone in your team knows what they are working toward.
Next, you need to understand your audience to refine your strategy further and align with your partners. You will likely work with demand-side platforms, publishers, creative teams, and DCO teams. Plus, your analytics and media team need to provide media and analysis strategy to the creative team. Make sure strategy and ownership align across all KPIs, messages, and audiences.
Furthermore, build a template by considering what parts of your advert need to vary, and take the extra effort throughout the creative process to put together a template that is flexible so you can avoid expensive production adjustments mid-flight. Continually examining and optimizing your performance is also a must.
The importance of leveraging creative optimization at your business
As you can see, dynamic creative optimization (DCO) is essential for online businesses that are looking to target customers with personalized ads that genuinely work. You can offer a valuable customer experience, save time and money, combat ad fatigue, and achieve a higher click-through rate.