Brands have long recognized the power of customizing to the individual–even before Dynamic Creative Optimization (DCO) took digital advertising by storm. Just consider how Henry Ford implemented mass personalization at the turn of the 20th century using two tactics: 1. accessories and gadgets, and 2. outsourcing to specialized manufacturers who could customize automobiles.
Shifting gears to digital advertising, raise your hand if you remember pop-up ads. How many times did you *intentionally* click on one? I’d be willing to bet very few, if any at all. Many advertisers were aware of this too, recognizing the need for more advanced tools.
Not long after the dreaded pop-ups, dynamic creative optimization (DCO) was introduced. And DCO brought a new mission: Reach the right audiences and cut through the digital noise. Consumers were responsive to the change as well. Rather than getting bombarded with irrelevant ads, consumers could passively discover products and services that met their needs and preferences.
There’s a lot to get excited about when it comes to DCO, especially since it’s a rapidly evolving technology. Here, we’re introducing a new DCO solution from our collaboration with NCSolutions and giving some context around what that means for you.
NCSolutions and Innovid accelerate CPG’s superpower, DCO
Purchase insights are most popularly used for audience targeting and campaign measurement. Now they can be used to optimize the campaign creative while in-flight. But now, advertisers can use purchase insights to craft personalized messages.
Why does that matter? Well, for consumer packaged goods (CPG) brands, in-store purchases are critical to the full consumer profile. Yet, since many brands don’t rely on their own flagship store, they need another route for visibility. While this created a challenge for CPG brands in the past, Innovid is now bringing attribution crucial to gauging the success of a campaign.
Of course, high engagement rates, video completion rates, and other metrics are essential to any marketer. However, without the knowledge of how high performance translates, you can’t be sure messages are resonating in the intended manner.
In practice, this looks like marketers optimizing creatives in-flight based on actual purchases. Further, advertisers can optimize messaging towards the versions driving the most sales. Combined, that means advertisers can ultimately spur more sales and further their advertising impact per dollar spent.
Sales insights – a crucial piece of the DCO puzzle
NCSolutions joining forces with Innovid is the first-of-its-kind collaboration. With NCS Purchase Data Metrics (PDM), Innovid advertisers can improve relevance, drive deeper engagement, and drive incremental sales across DCO campaigns via in-store sales data.
NCS sales insights combined with Innovid’s DCO solution allows advertisers the opportunity to test and then learn which offers are influencing sales the most. That means optimal efficiency and return on your media investment.
Plus, CPG advertisers can also leverage unique promotions while gaining visibility into what’s working – saving, or even gaining, more in the long run. And with visibility into the full customer journey, brands are equipped for better decisions.
When CPGs think people, not products
By definition, DCO is a technology that uses data to inform and optimize creative elements and messages. It sits at the intersection of content and strategy, enabling an automatic insights loop to optimize messages. So, for instance, if “ad set 2” is performing better than “ad set 1,” the DCO engine will show more of “ad 2” to optimize the campaign and boost performance further.
CPGs brands are in a unique position right now. Significantly, one that will allow them to benefit greatly from DCO.
The pandemic fallout led to mass inventory shortages over the past few years, compelling many consumers to try new brands–and leaving brand loyalty in flux. To amend this, many CPGs turned to DCO. After all, one of its standout advantages is enhancing customer loyalty and acquisition through taking an individualized approach.
Likewise, CPG brands can leverage DCO in shoppable formats (i.e. direct purchases through an ad). The ability to prompt in-the-moment purchases shortens the sales cycle, eliminating many variables that could interfere with a conversion.
Additionally, DCO empowers CPG brands with the agility to update creatives in-flight, enabling an always-on approach to moment marketing. Best of all, this can be accomplished at scale across a plethora of demographic variables through a single, individual, or integrated platform.
Innovid has a research report that covers these DCO topics (and more). You can download the full CPG guide to CTV anytime. Sneak peek: It’s chock full of actionable insights and best practices.
Looking ahead, the need for sales insights will likely only increase. Not only is it an essential piece of the customer journey and profile, it’s also a crucial piece of creative messaging. All in all, you’ll have the tools needed to be heard in an overcrowded digital landscape. Or, to put it plainly, you’ll stand out–and try finding a CPG brand that doesn’t want that.
Want an example of how NCS insights empowered a CPG brand to stand out? Learn how NCS Sales Lift metrics helped a snack brand better understand its sales performance – thus generating buyer demand mid-flight.