Reaching The Right People at The Right Moment
Martechvibe spoke to Michel Lambert, Founder & CEO at eComInterim about the common mistakes that businesses make when allocating their ad tech spends.
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Michel Lambert is an executive advisor in advertising and media, including digital marketing. He built up his broad expertise from 35 years of leading global, regional and local roles with blue chip companies (Procter & Gamble/ Coty/ Carlsberg Group) and with the biggest agency networks.
He specialises in helping business leaders maximise the effectiveness of their ad spend by better strategies, integration and operations. A champion at Integrated Communication, he believes in breaking the silos across disciplines such as Media Planning, Digital Marketing, eCommerce, Influencer Marketing, Data, Content, Ad Tech and CRM.
Excerpts from the interview;
What are some common mistakes that businesses make when allocating their ad tech spends, and how can they avoid these mistakes?
Overall, I believe that many businesses undervalue the importance of ad tech. They see ad tech as a black box which may double their advertising expenditures through the entire supply chain. I think that ad tech professionals have an important role to play in bringing more transparency and educating senior executives.
What do businesses struggle with when it comes to targeting the right audience?
Targeting covers 2 elements:
(a) Reaching the right people at the right moment
(B) Tailoring the message to the target to make it more relevant and therefore generate a stronger recall and engagement.
I believe that companies spend disproportionate efforts in the targeting itself but omit to generate the proper insights to create the right message and cash in the full benefits of targeting.
How can businesses effectively measure the ROI of their ad tech spends?
I recently observed much focus on the last customer interaction while we tend to forget the basics of the customer journey. When providing measurement, ad tech needs to integrate a bigger picture where we can help marketers understand the progressive customer build-up from awareness to purchase.
What advice would you give marketing leaders to balance short and long-term messaging goals?
Do not focus on one or the other. We need to provide Companies with the full puzzle. I usually differentiate measurement at 5 levels: long-term Branding, short-term efficiency, campaign impact, relative media channel efficiency and diagnosis. When looking at digital-only, I recommend considering every dimension: reach verification metrics (viewability, safety and IVT), creative salience and recognition, attention, costs and conversion. Looking at conversion only is misleading for many of the media channels.
What is one piece of advice that you would give business leaders about balancing tech investments and people resources?
Invest in both tech and people. This is not either or. Technology helps companies leverage data better, but people will be better off at understanding the insights and developing engaging creatives. The allocation should match the expected tasks.
Michel Lambert, Founder & CEO at eComInterim will speak about how marketers can calculate the optimal ad performance equation in the digital age in a session titled Making Each Ad Dollar Count at Rise Up – the marketing summit for future leaders in Dubai.
