Although it can be “very overwhelming” for brands to rationalize multiple audience segments and customized creative iterations, doing so can unlock sales growth and lower the cost of customer acquisition. “To serve one set of content or one-size-fits-all approach just doesn’t work anymore and it’s very wasteful,” says Rick Acampora, Chief Operating Officer at Wavemaker US.
“If somebody really doesn’t have a strong bias towards a brand and you decide to serve them what we would call active phase content, utility content, ultimately that’s wasted because they’re not predisposed to picking you anyway,” Acampora adds in this interview with Beet.TV. “It’s a lot about customizing content to the platform and then starting to personalize the right kind of content to the individual or the segment.”
The Wavemaker agency takes its lead on clients’ creative needs by considering their existing partnerships and what’s best for them. “There are definitely instances where we’re creating new custom content, everything from what we call hero content to utility content.”
Wavemaker works with vendors like VidMob, a technology platform that connects marketers with a global network of expert editors, animators and motion graphics designers.
The agency’s Momentum consumer insights database is the largest of its kind, with some 400,000 “individual journeys” across a host of categories and countries. “That data is the starting point to help us segment and sub-segment audiences,” says Acampora.
He relates how Wavemaker worked with Ikea to promote its living room offerings. “For one segment, it might be way more about quality and design, so those are the things we drummed up about their living room message. Another might be way more about price and ease of putting it together, more utility content.”
MEC, which along with Maxus constituted the basis for the combined entity called Wavemaker, had handled Ikea’s media planning and buying for more than a decade. Last month, Wavemaker successfully defended the U.S. business, as ADWEEK reports.
To help clients navigate the maze of segments and creative iterations, “We try to make that as turnkey and bite-sized for them as possible. You want to limit it to a certain number of meaningful segments that will actually help to unlock growth for the brand,” says Acampora.
The proof point or benchmark Wavemaker has used “is roughly a one and a half times increase in ROI. Whether through attribution modeling or longer-term market mix modeling results, we see a significant increase in the overall ROI. That or if we go more toward a performance level we’ve seen roughly a two times decrease in the cost per acquisition when we start to customize and personalize messaging.”
This video is part of a series titled The Road to the Digital Content NewFronts. It is a preview of topics to be explored at IAB’s NewFronts, which begin on April 30. This series is presented by Meredith Corporation. For more videos from the series, please visit this page.
