How Does Data Driven Video Work? Brands are working hard to produce more video content on an exponential scale as video becomes more and more popular as the format that best engages people amid the barrage of daily marketing messages. However, if a video marketing plan is oblivious to the issue of who its actual viewers are, even the highest levels of video creation and publication do not guarantee optimum levels of return on investment.
Which customer categories do they fall under? What types of items do they have in the shopping cart? What stage of our conversion funnel are they in? We run the risk of adopting the conventional viewpoint of television commercials and producing a universal video message for all viewers that just generates generic apathy if we don’t make use of the data that enlightens us in this area.
Data Driven Video Work
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New communication paradigms
But in this era of data, even the smallest business has access to a CRM platform that may be used as a data source. They only require assistance to complete the systematic integration of their data, which will allow them to use it to maximizea both the audience group that the video will reach and the creation of the video itself. This is the basis for an authentic data-driven video strategy that would produce individualized videos for every viewer and engage them at the precise point in their connection with the company.
This post will act as your introduction to the realm of data driven video if you’re interested in learning more.
Data Driven Video Definition
The Data Driven Video, also known as Video Driven by Data, is a communication strategy that employs dynamic video creatives that are personalized in real time based on signals received about the audience or external factors and makes use of data sources to achieve precise audience segmentation in the delivery of tailored videos.
In essence, it provides a clear answer to two important issues: who should see our advertisements, and what individualized aspects should we include in the video to encourage each viewer to take the next step and respond to the call to action.
An illustration of this in a display campaign would be where the delivery of a video advertisement is triggered by data signals indicating that this visitor is a returning user who has just abandoned a particular product in the shopping cart, and where the video advertisement is modified in real-time with a data feed that customizes the message with the socioeconomic variables and interests we know about said user, as well as with all the elements of the industry that go along with the particular product.
When audience targeting, creativity, and audience reaction data are combined, the power of what has hitherto been the most valuable resources in marketing and advertising is unleashed. Without overlooking the automatic video generating procedures, which are essential for the strategy to be scalable. All of this together enables the development of data-driven experiences that are stronger, more individualized, and more performant. If it is implemented well, we will have accomplished a fantastic goal: use advertising to add value while engaging viewers with unique stories that connect with them.
The benefits of Data Driven Video
The use of data to fine-tune and optimize video creative and its delivery mode will boost the relevance and performance that these creatives will generate in the audience in the present environment when consumers seek more personalized and immersive experiences in advertising.
With the help of data-driven video, it is possible to convey to each individual customer the aspects of a brand’s value proposition that resonate with them the most. For instance, when viewers are grouped under the “family” category, a message from a car manufacturer might highlight the safety and spaciousness of its model car. The same video, however, might be customized such that the message emphasizes the model’s independence for viewers who fall under the “travelers” group. In this way, we put into practice the fundamental marketing tenet that certain communications resonate more strongly with particular target audiences, thereby ensuring that each message has value for those consumers.
Data Driven Video and metrics
A further advantage of tailored videos is more effective media planning. With more pertinent advertisements, the agency and advertiser will be able to deliver fewer commercials but with impressions that have greater impact. One of the most crucial elements in boosting sales and customer satisfaction is personalization.
The most common measurements show improvements, of course. One example is that customized video experiences may raise scores on the Net Promoter Score, which assesses the brand loyalty of consumers, by 48 points or more. As opposed to conventional pre-roll video commercials, data driven video campaigns result in engagement rates that are 78% higher. We observe a larger proportion of complete reproductions, a decline in cost per acquisition (CPA), and rises in CTR among the typical campaign outcomes.
Can I really apply it in my company
There are solutions on the market that make it possible for the process to be predictive, scalable, and automatable. Despite the fact that the idea of working with enormous data sources to feed video strategies and personalized creatives may sound complicated and, above all, expensive, this is not the case.
You will need to work with other organizations to implement a Data Driven strategy in your business. Being structured and keeping in mind the data you have available, what is abundant, and what are the keys to expanding your business are important initial steps to making the integration of your data easier (KPIs). Do you have information indicating a consumer’s intention to buy something? Are there sufficient consumer-brand data points available to support cross-selling efforts?
To enter the realm of Data Driven Video, there are a number of obstacles that must be overcome.
Read more: Reasons to Pursue a Career in Data Analysis
Challenges to implement a Data Driven Video strategy
Data management: You need to maintain your company’s primary data organized and make sure that it makes it easy to categories your audiences.
Data quality: To ensure that the segmentation and modelling techniques employed are valid and the data is current, it is required to verify data gathered by third parties.
Lack of means: The management services given by the market to begin the process from scratch might help with the lack of time and resources to start the customized efforts.
Regulatory issues: We need to be mindful of adhering to the most recent legislation in the audiences we can influence, as well as the gathering of data.
Agencies, advertisers, and media can re-engage with a demanding audience by putting a Data Driven Video plan into place. Our Data Driven Creative solutions at The Hook are targeted at enhancing the delivery of advertising actions, CRM, and content. We provide these solutions to Agencies, Advertisers, and Publishers. Please get in touch with us to talk further about how data-driven creative methods might help you expand your company.