How Can Algorithms Help Brands Win the COVID-19 Rebound?
“We are living through challenging times.”
The now everyday adage referring to the current global pandemic has presented every industry across the globe with a very human problem. For those lucky enough to be unaffected by its health implications, the threat of a looming global recession presents different obstacles and threats to people’s incomes and future financial security. So as markets start to move through the various stages of recovery, it is vital that brands ‘win’ the rebound by pivoting and creating authentic human connections with their audience.
The right messaging will of course always be important to drive growth, but how can brands also utilize complex technologies to assist in winning that rebound? One answer to it may be the use of custom algorithms – or, algorithms that are dynamically designed to deliver upon specific business goals. The marriage of messaging and math behind the custom algorithm allows for a smarter way of learning, understanding and pitching target customers with relatively low manual and financial commitment.
Along with our clients, we approach algorithmic optimization by tapping into key datapoints that a business would already be collecting for each customer, assessing that customer’s fit for business purpose, and driving changes to their ad delivery accordingly, all while continuously learning and improving.
Beyond short term revenues
Marketers can utilize a range of technical implementation products in the programmatic space that will help bring short term revenues back to businesses. But more importantly, brands need methods aimed not only at winning the rebound that’s just ahead of us, but on the ways their businesses can achieve outcomes that enable sustained growth.
We utilize custom algorithms across a number of clients within all sectors to optimize to the highest revenue instead of lowest acquisition costs. This is proving to be particularly vital to our travel and retail clients who are seeking to claw back revenue as soon as possible
Immediate growth is achievable
Due to the nature of algorithmic intelligence, it is also possible to deliver customized turnkey solutions to deliver immediate growth to businesses. Algorithms can vary from driving last minute bookers in the travel space (to generate immediate revenue) to bringing in high value category buyers in retail to help manage stock and profitability.
In a time of economic uncertainty, understanding your consumers is more vital than ever before. In order to find the change that fuels growth, it’s imperative for brands and agencies to deliver impactful messaging alongside best-in-class technical optimization in order to take control of market share in today’s recovery period and build sustainable growth for tomorrow.
Position your brand for impact and spend on your most valuable customers in a cost effective, repeatable, scalable manner.
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