Why Programmatic Demands for You to Think like a Startup

A recipe for success

During these times of almost unlimited access to information, even less restricted mobility, and growing global competition, we find ourselves living in a world of great possibilities. Everything seems to be within our reach, and a number of ‘from zero to hero’ stories surface around us every day. Our new digital realities are opportunities when faced with an entrepreneurial spirit. This is most evident in the numerous startups that take their chances to become front-runners in a race for costumer acquisition.

Let’s consider Slack, a workplace-communication app that has taken the tech world by storm. Launched in 2013, Slack has earned its place amongst other A-listers such as airbnb, TIME, Samsung, eBay, LinkedIn and more. In July 2017 The Bloomberg noted that Amazon had their eyes on the workplace group chat, valuing the business at a whopping $9 billion. NewsWhip, a content discovery and monitoring services for news channels and other media producers, became a bit of a trendsetter for other companies, which have since adopted their technological approach to mimic that of NewsWhip’s. Beyond flattery, imitation is sign you might be onto something. In more tangible terms, according to TechCrunch NewsWhip raised $6.4 million in funding to grow its business. Last but not least, we have Sociomantic’s humble beginnings. The startup first made waves as the first European demand-side and five years later was acquired by dunnhumby, a leading customer science company that harnesses consumer data to drive loyalty for retailers.

These startup success stories come from the minds of young visionaries who have managed to build prosperous companies stemming from a simple idea. We ought to wonder what are the main characteristics that make them stand out in the crowd? What is it that makes startups succeed on a great scale, enabling them to compete against global giants in a classic David and Goliath tale – wherein David, lacking in resources and experience, takes on Goliath in the battle for offering the most innovative, useful and sustainable solutions desired by users?

The simple answer is that these goal-oriented people are not afraid to take risks and make mistakes on their way to the top. Turns out that some of the clichés that our mothers used to tell us: ‘always learn from your mistakes,’ ‘you will never know until you try,’ and ‘there are no stupid questions,’ might actually be a really valuable advice to follow, not only if you are a young and ambitious entrepreneur trying to make it big in the wild world of business, but also if you want a fighting chance of staying in the ring.

It might seem like a leap, but the same rules apply to digital marketers who want to use the full potential of the resources provided by a programmatic platform in order to make the best decisions on how to manage their campaigns. Hear me out: A simple adaptation of a startup mindset might help you improve your performance and achieve your goals like a pro no matter how much experience you have.

That is why our recipe for success goes as follows:

1. Be smart in setting your goals and strategies

To be on top of everything and understand fully what we do and how we can help you exceed, you need to always ask questions of ‘what’ ‘how’ and ‘when’. Inquisitiveness can protect you from common mistakes and be the driver for new brilliant ideas. Once you establish these objectives, you can focus on the goals your campaign is set to achieve. To do so you need to deeply analyze all factors that can impact your business results. To establish baseline, you should remember to double-check current campaign results and implementation of strategy. A deep dive into your campaign settings and outcomes can give you an overview of what are the key questions to ask to redefine your marketing strategy. First thing is to check your banners. See if the message – product and price – on the banner is correct and visible. The devil is in the detail, so think of when did you last refreshed the banner design. Secondly deliberate external factors such as seasonality or sale. Use combination of dynamic product ads with non-dynamic brand ads for special promo campaigns and branding.

2. Be courageous and try out new approaches

To bring positive change and boost your performance you need to challenge yourself! Remember that when you get comfortable and a bit lazy your competition doesn’t sleep so don’t be afraid to go that extra mile to turn to your data and learn more about your clients, their behavior. Based on observation, hitch and segment target groups to reach those who are more likely to finalize purchase. Use CRM data to segment clients and focus on those with highest Customer Lifetime Value. Experiment with your campaigns, test settings and compare new solutions.

3. Stay on top of the newest trends and challenge your partners

Use independent analytics tools to make sure you follow closely what is happening with the traffic on your page and how successful your campaigns are. Use information about customers’ engagement with both your page and your banners to build up useful knowledge. Also, don’t miss out on the big chunk of valuable data by falling into the trap of last-click attribution model. Once you understand that the complete costumer journey, from attracting trough acquiring and converting to delighting, gives you a lot more than just focusing on the last clicks, you can be more successful with reaching your business goals. Lastly don’t forget that more and more people are using many devices that it has become crucial to implement cross-device tracking to be able to follow their activity.

And now the only thing to do it to repeat these steps again and again! You need to remember that testing and learning is an inseparable part of both startup mentality, and should be key to your marketing success story. It is the only way to stay innovative, fresh and on top of your game.

By Beata Banas and Zuzanna Tarka