Sprinklr founder and CEO Ragy Thomas built a multi-billion dollar company in a mere 8 years, driven by a desire to make social media marketing a more logical place for brands. We spoke with Thomas about brands pulling back from traditional digital advertising, and how they can safeguard their ROI.
Many top brands have expressed concern about value in online–ranging from the uncertainties of inventory to dubious metrics in social. What are some of the biggest concerns facing brands in developing online strategy?
Social moves at a rapid pace, and it’s crucial for advertisers to keep up. So reaching the right audience, and reaching them quickly, is a big concern for any company developing a social advertising strategy.
Brands are realizing that they need to create engaging content that finds the right people at the right time, since this translates to more conversions and an impact on their bottom line. But brands are still struggling with identifying who has been engaging with and purchasing from them, if they reached their target audience and if they broke into a new demographic. Once they know who their audience is, they can have a clearer picture of what content to create.
What is the responsibility of the ad tech and social media space in terms of transparency and quality control?
For quality control, it’s really up to the brand to have coordinated processes because inefficiency arises when cross-team collaboration doesn’t happen as seamlessly as it should.
From customer service to sales to corporate communications, there are multiple business units (with key stakeholders in each) across the organization interested in reaching audiences through social advertising – and they each define “value” in a different way. Organic and paid posts are typically owned by separate groups, but only through careful coordination can you recognize opportunities to boost owned media with paid budgets, or to use paid campaigns as a testing ground for organic activities. Creative assets necessary to run campaigns come from several parties such as agencies, owned media managers, and paid media buyers. These are just a few examples of the collaborative nature of social advertising, and the potential hiccups that can occur along the way.
Without clear understanding of goals and KPIs, campaigns cannot be optimized in real time. And, if there are ads created by multiple departments, there is a significant risk to the brand if these can’t be easily shut off during a crisis.
Any Sprinklr case studies we can reference?
Sonos has a great success story using Sprinklr to help manage its Facebook advertising. They saw a significant return on ad spend after using video ads to drive awareness of its new product and promotional dynamic ads to drive conversions. Sonos also used Sprinklr to help manage its advertising campaign on Instagram, seeing a significant ROI after creating a two-phase campaign that included video ads to drive brand awareness and dynamic ads to boost sales.
Learn more about Sprinklr here.