How to Acquire New Customers for Business Growth in 2024?

Share: Share: The slowest industry to adapt to digital transformation has been the pharmaceutical industry. The traditional methods of marketing, such as television and print ads, have been the go-to for pharma companies till Covid-19.  The pandemic has forced the pharma industry to adapt and embrace digital channels like never before rapidly. The shift has been accelerated by the need for social distancing and limitations on in-person interactions. As a result, pharma companies have had to rethink their marketing strategies and focus on targeted digital campaigns instead of traditional mass marketing techniques. This has led to the exploration and adoption of digital advertising in the pharmaceutical industry. Advantages of digital advertising for pharma companies Adopting digital advertising in the pharmaceutical industry has many advantages for pharma companies. Let’s take a look at some of them: Reach more consumers globally Consumers are increasingly turning to the Internet for their healthcare needs. The devices and platforms they use for consuming healthcare information provide an opportunity for pharma companies to reach them globally. Digital advertising enables pharma companies to expand their reach beyond traditional geographical boundaries and connect with potential consumers worldwide. With the growing popularity of e-commerce platforms, pharma companies can now even sell their products directly to consumers online. Target only relevant audiences One of the biggest advantages of digital advertising is the ability to target specific audiences based on their online behavior, interests, and demographics. The precision of targeting allows pharma companies to reach potential consumers who are more likely to be interested in their products or services. For example,  a company selling skincare products can specifically target women above 40 who have shown an interest in anti-aging products. Specifical targeting helps reduce wastage of advertising budget and increases the chances of a successful conversion. Personalized messaging and targeting The  ability to target specific audiences also enables pharma companies to personalize their messaging and content. Personalization has been proven to have a significant impact on the success of marketing campaigns, as consumers are more likely to engage with content that resonates with them personally. Digital advertising allows for dynamic ad creation, where different versions of an ad can be shown to different target groups based on their demographics, interests, and behavior. If you  are targeting millennials, you can use a different tone and language compared to when targeting baby boomers. Personalized messaging help build a stronger connection with potential consumers and increase the chances of conversion. No geographical limitations Traditional advertising methods, such as television and print ads, have geographical limitations; they only reach audiences in specific regions or countries. Digital advertising, on the other hand, has no geographical limitations. Pharma companies can easily target consumers in different countries and regions through digital ads. This particularly benefits global companies looking to expand their reach and market share. Cost-effective compared to traditional advertising Digital advertising is also more cost-effective compared to traditional methods. With digital advertising, pharma companies can set a budget and only pay for the clicks or impressions received.  The cost per conversion is also often lower compared to traditional advertising methods. Furthermore, digital ads can be easily optimized and adjusted in real-time based on performance, allowing for a more efficient use of advertising budgets. How Pharma Companies are using digital advertising? Pharma companies are utilizing various forms of digital advertising to reach and engage with their target audience. Some common strategies include: Paid search ads Paid search ads, or pay-per-click (PPC) ads, are a popular form of digital advertising for pharma companies. They allow companies to bid on keywords related to their products and services, ensuring their ads appear at the top of search engine results pages (SERPs). Paid ads also have targeting options, allowing pharma companies to reach specific audiences. Social media advertising Social media platforms, such as Facebook, Instagram, and LinkedIn, offer various advertising options for pharma companies. You may have seen the word  “Sponsored” on your social media feeds. These are paid advertisements that appear on your timeline or in between posts.  Social media advertising enables pharma companies to reach a large audience, particularly younger demographics, and engage with them through visually appealing content. The Ads Manager tools available on social media platforms also allow for precise targeting and tracking of ad performance. This helps pharma companies optimize their advertising efforts and improve ROI. Display and programmatic ads Display ads appear on websites, apps, and other digital platforms. They can be in the form of banners, videos, or interactive content. Programmatic advertising uses automated technology to buy and sell ad space in real-time. Pharma companies can use display and programmatic ads to target specific audiences based on their online behavior and interests. These ads can also be personalized and optimized in real-time for better performance. With Programmatic Advertising for Solar, pharma companies can also benefit from cost efficiencies and the ability to reach a wide range of online publishers. Native advertising Native ads are designed to blend in with the content on a specific platform or website. They are less disruptive and more user-friendly compared to traditional banner ads. Pharma companies can use native advertising to promote their products or services in an organic and non-intrusive way. These ads can appear as sponsored articles, videos, or recommended posts within a digital platform. Native advertising help build brand awareness and trust among potential consumers. Mobile advertising With the increasing use of mobile devices, pharma companies also invest in mobile advertising. In-app ads, push notifications, and location-based targeting are common forms of mobile advertising used by pharma companies.  More than half of all internet traffic comes from mobile devices,  making mobile advertising an important channel for reaching and engaging with consumers. Influencer marketing A growing trend in digital advertising is influencer marketing. Pharma companies can collaborate with influential individuals on social media to endorse their products and reach a wider audience. Influencers have a loyal and engaged following, making their recommendations and endorsements more impactful. This form of advertising also offers a more authentic and humanized approach to promoting products. Many

Share: Share: The solar industry has expanded rapidly in the last decade, driven by a growing global demand for sustainable energy resources. In the last five years,  solar energy generation has surpassed other energy sources such as natural gas and coal. In 2023, solar accounted for 53% of all new electric capacity added to the grid, marking a significant milestone for the industry.  The leaders of solar companies have been quick to recognize the value of renewable resources and are investing in solar energy technology.  However, the growing demand for solar energy also means increased competition among solar companies. As the market becomes more saturated, traditional marketing methods such as print ads and cold calling are becoming less effective. In this scenario, programmatic advertising has emerged as the future of solar marketing.  Current State of Marketing in the Solar Industry While traditional methods of marketing have been the backbone of the industry for decades, they have their limitations. Some of the common methods used in solar marketing include: Traditional Methods The solar industry has traditionally relied on methods such as cold calling and door-to-door sales, direct mail campaigns, and trade shows to generate leads and reach potential customers. Cold calling is a method where sales representatives reach out to potential customers over the phone, while door-to-door sales involve physically going to people’s homes and pitching solar products. Direct mail campaigns, on the other hand, involve sending out marketing materials such as brochures and flyers through the mail to potential customers. Finally, trade shows and events are another popular method used by solar companies to showcase their products and services.  Challenges Faced by Traditional Methods While these methods have been widely used in the solar industry, they come with their own set of challenges. High costs associated with traditional methods are one of the main concerns for solar companies. For instance, organizing trade shows and events can be costly, while sending out direct mail campaigns involves printing and postage expenses.  Additionally, these methods often require a large sales team, resulting in high labor costs. Moreover, traditional methods also have limited targeting capabilities and lack accurate measurement of success.  For example, cold calling and door-to-door sales rely on a “spray and pray” approach, where the sales team reaches out to a large number of people without any guarantee that they are interested in solar products.  As a result, the success rate of these methods is often low Digital Pharma Advertising. Rise of Programmatic Advertising in Solar Marketing To overcome the limitations of traditional marketing methods, solar companies are turning to programmatic advertising. Programmatic advertising is an automated method of buying and selling ad space in real-time using data and algorithms. You can think of it as the stock market for ads, where advertisers bid on ad space and reach their target audience in real-time.  If you have ever browsed online and noticed ads following you from one website to another, that is an example of programmatic advertising. The use of programmatic advertising has been steadily increasing across all industries, including solar marketing.  How to Incorporate Programmatic Advertising into Solar Marketing Strategy To effectively utilize programmatic advertising in solar marketing, companies should consider the following strategies:  Targeted Audience Segmentation The audience you target with your programmatic ads will have a significant impact on the success of your campaign. You will want to segment your target audience based on factors such as their motivation for going solar. The people who want to reduce their electricity bills may have different motivations than those who want to reduce their carbon footprint.  The messaging and creative for these two segments would , therefore, be different. You want to target a person who want to install  solar panels on their home differently than a business owner who is looking to switch to renewable energy.  For peak seasonality you will  also want to adjust your messaging and creative for people living in areas with year-round sun exposure versus those who experience more seasonal changes.  Finally, targeting customers who are already looking to purchase solar products will be more effective than targeting those who may not have considered it yet.  Relevant and Engaging Content Personalization and relevance are key to the success of any marketing campaign. With programmatic advertising, you can use data to create personalized and engaging content for different target segments. Ad tech companies like VeniMedia have access to a vast amount of data from publishers, exchanges, and third-party data providers, which can be used to create tailored ads for specific audiences.  Furthermore, utilizing creative formats such as videos, interactive ads, and social media posts can help capture the attention of potential customers and increase engagement.  Your ad should not only promote your solar products but also educate and inform the audience about the benefits of going solar.  Cross-channel Marketing To reach a wider audience and increase brand exposure, solar companies should consider utilizing different platforms for their programmatic ads. The most commonly used channels for programmatic advertising include search, social media, audio, video, native advertising, display ads, and CTV. Search ads will bring you in front of potential customers who are actively searching for solar products or services.  Social media ads can help you reach a highly engaged audience and create brand awareness. Audio, video, and native ads can help you tell your solar story in a compelling way. Display ads can be used to retarget website visitors or introduce your brand to new audiences.  Finally, connected TV and over-the-top advertising help you reach an audience who prefers streaming content over traditional television. The combination of these channels help you reach a wider and more targeted audience for your solar marketing efforts.  Collaborating with Digital Platforms and Partners Partnering with digital platforms and publishers  can also be a beneficial strategy for solar companies looking to incorporate programmatic advertising into their marketing strategy. These partnerships allow you to access a larger and more targeted audience, as well as utilize the ad tech expertise of these platforms. Social media influencers can also be a valuable partner in promoting

Share: Share: Attribution and conversion tracking for E-commerce companies are what you make of it. You spend a considerable amount of money on ads only to find that the ad traffic is untraceable once it reaches your site. Wasted resources, lost revenue, and ultimately a decline in profitability. Traditional  TV advertising was just as ambiguous. You could not know how many sales your ad drove, making it impossible to justify the high costs. A combination of CTV/OTT and e-commerce is a perfect recipe for this dilemma. Here, we’ll explore how CTV/OTT advertising can benefit e-commerce companies and provide a comprehensive guide to running successful campaigns. Why e-commerce companies have stalled spending on traditional TV advertising? Traditional TV advertising has been the go-to for promoting products and driving sales for decades. For example, if you were a consumer goods brand, you had to advertise on TV. The logic behind this was simple: TV had the largest reach and could target a broad audience.  TV ads’ sound, sight, and motion made them incredibly persuasive. It was hard for consumers to resist the charming ads and their catchy jingles. As a result, TV advertising became the norm for many companies, including e-commerce brands.  Consumer habits have changed drastically, and traditional TV viewership has been declining. More people are cutting the cord and switching to streaming services like CTV/OTT.  As a result, traditional TV ads have become less effective and more expensive. Yes, that’s right; TV advertising is costly. A 30-second spot during prime time can cost anywhere from $200,000 to $1000,000. For small and medium-sized e-commerce businesses, this is way out of reach. Linear TV’s downfall for e-commerce companies is its inability to track and measure real-time conversion rates. This lack of measurability makes it challenging to justify the high costs of traditional TV ads. Upper-funnel advertisers may have the luxury of focusing on brand awareness, but for e-commerce businesses, every ad dollar needs to drive measurable results.   Why is CTV / OTT advertising Good for E-commerce? The sound, sight, and motion elements on a large screen make traditional TV advertising incredibly persuasive. With CTV/OTT, you can achieve the same persuasive power while enjoying IP delivery and rich data. This means you can effectively target and track your ads in real-time. Imagine being able to see how many people saw your ad, clicked on it, and made a purchase—all in one platform. According to Bizrate Insights,  52% of US adults have used shoppable commerce or are interested in it. This is especially popular among younger adults, with 31% of those aged 18 to 34 using it. Shoppers behave like traditional shoppers. They see something they like and want to buy it immediately, so CTV/OTT ads with shoppable commerce capitalize on this behavior. The best part is that they don’t have to leave the video to complete the purchase. The login data from a streaming device gives CTV/OTT advertisers reliable information. This data tells you who’s watching, what they’re watching, and when they’re watching it. Companies like  Roku use data-driven advertising to provide e-commerce brands with highly targeted and effective ad placements. To sign up for a Roku account, you need to enter an email address and your ZIP code. This level of granularity allows for highly targeted ad placements, so you can serve ads to people who are likely interested in your product or service. How e-commerce Companies can Capitalize on CTV Advertising Let’s see how e-commerce companies can use CTV advertising to drive conversions and increase sales. Make Your Ads Interactive Your first thought might be, “I’m already streaming shows; why would I do that in a CTV ad?” After all, watching TV  is to relax and unwind, not to be bombarded with ads. The idea of CTV/OTT advertising is not to interrupt but to engage viewers meaningfully. You can do just that with interactive ads while providing a seamless viewing experience. For example, your ad can incorporate elements like polls, quizzes, and product showcases. This keeps viewers engaged and allows them to interact with your brand and products. With interactive ads, you can collect valuable data about your viewers, such as their interests and preferences. You can then use this data for targeted ad placements and retargeting campaigns. The Attribution Process for CTV Advertising While CTV ads may not have the click-through capabilities of digital ads, it doesn’t mean they can’t be tracked and measured for success. The ads may not be clickable, but they are viewable. You can not skip them or have an ad blocker block them. That means you can track how many people viewed your ad and for how long. The key is to find a reliable partner with advanced attribution software that can accurately track and measure post-view conversions from CTV ads. This way, you can see how many people saw your ad and eventually made a purchase or took another desired action.  Make Your ads act as a direct sales channel One of the biggest advantages of CTV advertising for e-commerce companies is its potential to act as a direct sales channel.With traditional TV ads, viewers would have to remember your brand and product, go online or visit a store, and make a purchase. However, with CTV ads, viewers can purchase directly from the ad. This eliminates any potential friction or delay in the purchase process. By making your ads shippable, you can capitalize on impulse purchases and drive immediate conversions while the product is fresh in the viewer’s mind. This can be especially effective during key shopping periods like holidays and sales events. The call-to-action in your ad can direct viewers to a landing page or microsite where they can make the purchase.  Hyper-targeting your audience One of the major advantages of CTV advertising is its ability to hyper-target specific audiences. Using login data, streaming devices provide advertisers with reliable information about who is watching what and when. E-commerce companies can fully exploit this data by targeting specific demographics and interests. For example, selling a fitness product can target viewers who have