While the techniques we have covered this week are powerful, they are not useful if they take too much time and effort for you to use them every day. You need automation to handle most of the work for you!
The good news is that there are many options to help:
- Demand Side Platforms will automatically optimize your advertising spend across many different channels. They will do many of the calculations we discussed this week and adjust your spend for you, ensuring optimal spends. They typically only work on real-time bidding platforms (aka programmatic ad buys) so it may not work for all of your advertising but they are a great place to start.
- Ad Attribution Products will automatically track your advertising value metrics for you, taking into account that a user might see many different ads (on different platforms) before becoming a customer. This makes your value metric calculation much easier and will collect your performance in one place.
- Anomaly Detection products will notify you when anomalies occur in any of your campaign data, allowing you to take action when necessary. They are often used in conjunction with the other types of tools to ensure you always know when significant changes occur.
If you do use automation, be wary of blindly trusting their optimization approach. As you have seen this week, optimization can require a number of decisions that are specific to your business and may not be possible in a one-size-fits-all product. Whenever possible, audit the performance yourself to ensure you are truly making the most of your spend.
Quote of the Day: “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” – Bill Gates