New tech will end random ‘pin the tail on the donkey’ digital buying, agency claims
New technology bolted on to auditing platform Prometheus will end the ‘pin the tail on the donkey’ digital plan adopted by many brands, its boss has claimed.
John Vlasakakis, chief executive of digital agency Next&Co, which launched Prometheus in May, said a new research and optimisation component added to the platform will identity a brand’s most profitable customers.
Combing technology from Google Marketing Platform, Google Ads and Adobe, Prometheus crunches data to reveal the most valuable and highest converting customers, Vlasakakis claimed.
Citing the example of an unidentified healthcare brand which was told by its agency to target females aged 25-34 in Melbourne, Vlasakakis said its own data advised the company to target men aged 35-44.
“The client went with our recommendations as they could see first-hand using their data who they needed to target and to forecast growth,” he said. “The campaign was an outstanding success driving a four times return above expectations and an average order value increase of 111%.”
Vlasakakis said the technology will end what he suggested was the random nature of digital buying.
“When we integrated the healthcare brand’s first party analytics data it was a completely different outcome,” he explained. “There are no assumptions or interest groups used, but rather historical data that can go as far back as ten years to determine who the best types of customers are to buy media with for each brand.
“It eliminates the ‘pin the tail on the donkey’ of digital buying.”
At the May launch of Prometheus, Next&Co said the auditing tool has inbuilt KPIs advertisers can select from, including leads, customer conversions, ROI and reach, with customers able to choose their targets across each metric.
Prometheus last month said brands wasted $54 million in digital advertising spend between July and September, almost half on Facebook.
