We sit down with Amitek Sinha, Co-Founder and COO of ET Medialabs to talk about how they are helping analyse and translate market intelligence data into actionable insights for major brands in India.
Updated May 30, 2023 | 01:08 PM IST
Tell us about your brand and its offerings?
ET Medialabs has been working with many industry giants. Can you share a few success stories of your clients?
As mentioned earlier, ET Medialabs has executed 10,000+ campaigns to date, and worked with over 500 hyper-growth startups and unicorn brands in India, helping them leverage growth advertising and analytics to scale up.
For example, for one of our clients, Mamaearth, we strategised growth through Analytics, improving overall system efficiency for Mamaearth by 20% and increasing their marketing ROAS and overall scale.
We were able to help another prominent client, Urban Company, scale 2X in a quarter while keeping CAC under guardrail across several categories.
On the other hand, for Atomberg, we were able to combine the Right Audience Signals + Right Geos = Influx of the most qualified audience into the funnel, bringing about a 31.3% increase in the relative lift for awareness.
And lastly, our work on Kapiva, a modern Ayurveda brand, which received incredible appreciation in the industry and us the prestigious Google Premier Partner award in the Brand Awareness category. The success eventually resulted in Kapiva being able to achieve significant success with the launch of Skin Foods-Glow Mix. The product was launched in January 2023 and has already been scaled to almost $100,000 a month. Kapiva is now planning to expand its ingestible skin foods category with more products in the future.
For a growth and performance marketing company, data analysis plays a vital role. How do you use it to figure out new strategies for your clients?
The growth and Performance marketing world is constantly evolving and the need to fully utilize user information is now more than ever. With a strong emphasis on data, we invest heavily in building our analytical capabilities which includes employee training and developing in-house platforms for a holistic understanding of the data ecosystem.
Our proprietary solution, Adbytzz is an ad intelligence & technology platform, used for uncovering actionable insights. Its data stitching capabilities allow us to analyze blended data from multiple platforms, enabling us to derive effective strategies for our partner brands. Our commitment to data-driven solutions sets us apart in the ever-evolving world of growth and performance marketing. Additionally below are a few benefits that brands can derive by leveraging Adbytzz :
Build Custom Dashboards: Inhouse curated dashboards to meet every client’s different needs. Dashboards are mainly used for Data Visualization, Real-Time Monitoring, Performance & Goal Tracking, Data Integration, Reporting and Communication. This eventually lets us make data-driven decisions.
Leverage First-Party Data: First-party data refers to the data collected directly from customers or audiences through their interactions with the website, app, or other owned marketing channels. We use First Party Data for Audience insights, Optimisation, Personalization and Retargeting or targeting similar audiences. This way, we refine our campaigns, increase their effectiveness, and achieve better results over time. We also leverage the benefits of:
-S2S (Server-to-Server) integration to ensure accurate and reliable data tracking and attribution
-Offline events tracking which plays a crucial role in bridging the gap between online and offline customer interactions.
Make the most of MMPs: MMP (Mobile Measurement Partner) plays a crucial role, particularly in the mobile advertising space. MMPs are third-party platforms or tools that specialize in tracking and analyzing mobile app installs, in-app events, and user engagement. MMPs help in Mobile App Tracking, Conversion and Event Tracking, Attribution Analysis, Cohort Analysis, Audience Segmentation, Real-Time Reporting, Integration with Ad Networks and Analytics Platforms, Fraud Detection and Prevention.
Incorporate GA for accurate data points: We use GA for Website Traffic Analysis, Attribution Modeling, Behavior Analysis, Audience Segmentation, E-commerce Analysis, Customization and Integration.
Filter out the right audiences and trends using AI: Currently, our teams are using AI for Data Processing and Cleansing, Pattern Recognition and Predictive Analytics, Personalization and Customer Segmentation & Customer Journey Analysis
Google has unveiled AI-powered advertisements. How can it assist marketing firms like yours in developing a more successful strategy?
Artificial Intelligence in general can help marketers all over the world in many ways:
Reaching the right audience: AI tools can help performance marketers target their ads to the right audience, based on factors such as demographics, interests, and past behavior. This can help ensure that ads are seen by people who are most likely to be interested in the product or service being advertised.
Automating tasks: AI tools can help performance marketers automate tasks such as creating and optimizing ad campaigns, reporting on results, and managing budgets. This can free up time for marketers to focus on other aspects of their campaigns.
Data Analysis and Insights: AI-powered tools can process and analyze vast amounts of data quickly and efficiently. This allows marketers to gain valuable insights into customer behaviour, preferences, and trends.
Customer Experience and Personalization: AI can enhance the customer experience by enabling personalized interactions at scale. Chatbots and virtual assistants powered by AI can handle customer inquiries, provide real-time support, and offer personalized recommendations based on individual preferences.
Content Creation and Optimization: AI can assist in content creation and optimization. It can generate written content, such as product descriptions or blog articles, using natural language generation techniques.
Marketing Automation: AI enables marketing automation by automating repetitive tasks and workflows. This includes automated email campaigns, lead nurturing, customer segmentation, and campaign optimization.
Some of the Google AI Tools are –
-Smart Search campaigns, which use machine learning and natural language processing to understand the user’s intent and provide more relevant results.
-Smart Display campaigns, which use machine learning to automatically create and optimize display ads across Google’s network of websites and apps.
-Performance Max campaigns, which use machine learning to optimize your ads for conversions across all of Google’s advertising channels.
Google also announced a number of new tools and resources to help businesses get the most out of AI-powered ads, including The Google Ads AI Lab, which provides businesses with access to research and best practices on how to use AI in their advertising. The Google Ads AI Hub provides businesses with a central location to learn about and use AI-powered features in Google Ads.
Overall, the recently concluded Google Marketing Live 2023 showed that Google is committed to using AI to help businesses improve the performance of their advertising. I believe this is just the beginning of AI being accepted worldwide and the coming years will be crucial to observe the transformational change that AI can bring about.
Along with Meta and Google, what other platforms do you see as reliable like them in the coming times?
While the two major platforms still hold the majority of the contribution of the ad spends for most advertisers, there are a few established and some upcoming ad platforms that are set to take a certain portion of the ad spend pie. There are a number of platforms on which we already are running campaigns on. We are always on the lookout to explore new platforms with an aim to serve what’s best for our partner brand. A few examples of these platforms:
Amazon Ads: Very targeted, cost-effective and measurable. These ads are specific to demographics, interests, and even past purchase history.
TikTok (Outside India): The very engaging TikTok platform showcases ads that are short, catchy, and visually appealing, which makes them more likely to capture users’ attention.
LinkedIn: In the B2B space, LinkedIn ads are a must to try, the users are professionals, so the ads can be targeted to specific job titles, industries, and interests. They are leveraged to derive high-quality leads.
And last but not least, WhatsApp ChatBots. WhatsApp chatbots can be personalized to each user, making them feel like they are having a one-on-one conversation with a real person. They are convenient and very scalable.