It was not long ago that marketing professors at universities taught us that success in marketing could not be predicted. Last year’s successful channels would not automatically be successful in the coming year. It would therefore be unavoidable that a considerable part of the marketing budget would be badly invested.
In today’s age of real-time success controls for digital marketing campaigns and for print campaigns or broadcast advertising campaigns such as television or radio, the teachings of professors are no longer correct.
Today, the challenges lie in six aspects in particular:
- The complete collection of essential customer data across all marketing channels and their different touchpoints
- The automated reading and recognition of sales-relevant information
- The machine abstraction of customer and sales information including all data sources – the whole is more than the sum of its parts
- dynamic marketing, e.g. automated multichannel campaign management taking dynamic pricing into account; dynamic pricing on the basis of internal fixed and variable costs, contribution margins, competitive prices and behaviour, market development analyses and forecasts, current sales figures and target group orientation
- Real-time detection campaign progress – early detection of tops and flops in campaign management; automated campaign expansion – channel currently successful or automated campaign stop – channel not successful
- compliance with data protection regulations
By mathematical procedures, which analyze all parameters in almost real time and propose or execute decisions, your marketing budget can be used effectively. Our applications permanently compare all channels as well as data sources and select the most successful channels depending on the time of day and target groups for you.
Of course, the legal framework conditions must also be coordinated with the corresponding advertising partners. In most cases, however, this does not pose a challenge, as success-based billing models are common in online marketing, regardless of whether they are programmatic or organic.
However, our corporate customers would lose valuable time and money if we did not automatically select the most successful channels around the clock and thus use the marketing budget optimally.
It is currently unclear what antitrust law principles apply in the context of dynamic pricing. If algorithms are used that constantly monitor the prices and products of competitors and the markets and adjust internal pricing accordingly, this could violate antitrust law. There are currently no significant judgments or reference processes.