January 8, 20183 min read
2.5 quintillion bytes of data are created every day. And before you google it, a quintillion is 1 followed by 18 zeros.
Look at it a different way and it’s 2.5 quintillion opportunities to know and serve customers better. But with a massive influx of customer data that only grows by the day, making sense of it all can be a herculean task.
As the saying goes – more data, more problems.
Most problematic is how existing, time-consuming processes for handling customer data end up yielding little more than inconsistent customer experiences. In short, marketers and advertisers are paying a lot of money to send the wrong messages to the right person (or vice versa).
Given that all this data won’t organize itself, we designed something that could.
Today, I’m excited to announce two new functionalities within Sprinklr Social Advertising: Social Data Management Platform and Predictive Budget Allocation.
Social DMP automatically organizes and segments unstructured customer data from a wide range of social and digital sources. This gives brands the ability to:
Quickly organize customer data across databases and 25+ social channels.
Create accurate, up-to-the-minute audience segments in order to target potential customers in a more effective may.
Automatically and frequently refresh customer data, so that teams are working with the most up-to-date customer profiles.
The result: cleaner, more organized, more holistic customer data that drive more effective advertising campaigns. To learn more about Social DMP, click here.
Armed with clearer insights into their audience and what moves them, brands end up far better equipped to generate relevant, impactful ad experiences. Unfortunately, what tends to lag behind are the budgeting tools to deliver those experiences. And what’s worse than wasted ad dollars?
That’s why, to keep pace, we also developed Sprinklr’s Predictive Budget Allocation, a sister resource to Social DMP in our Social Advertising product, that maximizes ROI by responsively optimizing budget distribution across campaigns. This gives brands the ability to:
Grow their return on ad spend by automatically supporting top-performing ads with additional spend.
Avoid manually re-allocating and distributing their ad spend budget over and over.
Forecast campaign performance with greater clarity.
The result: Brands spend less time trying to decipher what’s working and what’s not, and where to invest their ad dollars. Take video sharing platform Vimeo, for example, which uses Sprinklr’s Predictive Budget Allocation tool to eliminate tedious manual tasks. Just two months after implementation, the team has drastically reduced time spent allocating ad budgets from around 6 hours/week to 1.5 hours – they now do most of this automatically. As a result of smarter budgeting, they’ve also increased ad performance by 18.5% across all all campaigns.
To learn more about how Vimeo used Predictive Budget Allocation to increase ad performance, click here.
Today, advertising is no longer about the number of impressions, it’s about the quality of your impressions. A huge part of maintaining an authentic, meaningful relationship between the customer and your brand is making sure that you can speak to each customer as an individual.
We are committed to designing intelligent and intuitive product optimizations for our customers, so that they can go on to deliver more human experiences for their customers (at scale). Here’s to 2018 and the innumerable opportunities in store.