Digital Strategies For Financial Success: How Individuals And Companies Benefit

Forbes Money Personal Finance Digital Strategies For Financial Success: How Individuals And Companies Benefit Jaime Catmull Contributor Opinions expressed by Forbes Contributors are their own. I am a personal finance expert and writer. Following May 23, 2023, 06:45pm EDT | Press play to listen to this article! Got it! Share to Facebook Share to Twitter Share to Linkedin Shop and AI.

e-commerce concept. getty Using a digital advertising strategy is now largely the default option for most organizations, outside of a few very niche markets. The benefits offered to the customer, like the personalization of their content, and their effective integration into helpful services like search engines allow them to create a more fluid interaction with the brand.

From the perspective of the organization deploying the strategy, they gain access to a cost-effective way of reaching customers, and perhaps more importantly, actionable data on customer behavior. How Individuals Can Optimize Financial Resources Through Digital Marketing While the focus of understanding digital advertising is often on the business deploying them, it can be equally important for consumers to be informed about how these kinds of strategies are used and how they might utilize them to their advantage. By understanding the targeted and data-driven approaches used in digital advertising, customers can tailor their interactions and response to inform advertisers of the products, promotions, and incentives best tailored toward their personal circumstances.

Similarly, practicing informed engagement with a brand can help them get a better idea of what kind of customer they are, encouraging the brand to invest more resources into supporting their loyalty. As developments continue in personalized advertising, customers have the option to share more details about themselves in order to give advertisers the tools to create a bespoke experience for their customers. While gathering data from digital advertising campaigns has been common practice for a long time, developments in artificial intelligence and data science have allowed the scope of these to expand and become more effective and accessible.

One company implementing the emerging technology of generative AI is Coinis . By implementing generative AI, they are allowing for custom advertising content to be produced and tailored to campaign needs without the traditional slow and costly cycle of working with copywriters. MORE FOR YOU Billionaire Jeff Bezos Engaged To Partner Lauren Sanchez Report Says Empathy Leads To Results In The Workplace Breaking The Bamboo Ceiling: Advancing Asian Women To C-Suite Leadership These new tools, like AI-assisted campaigns, open up the field of professional-level tools to individuals who are working on expanding a small business or promoting a service they offer as a side gig.

While primarily reducing the overhead cost of producing creative content, and offering control over budgeting and the scope of the campaign, these platforms can appear as an attractive option for promoting a casual income stream without the need for costly investment. How Businesses Can Utilize Digital Advertising for Financial Success These platforms are also being used by organizations and businesses looking for tools that specialize in honing in on high-intent customers and using their experience in digital advertising technology to serve content to potential customers to achieve the maximum possible response. As internet content platforms become more centralised, the expertise in how to effectively market through each channel has become more valuable, and platforms like Coinis have developed their customer base to serve these needs.

An example of this has been in adjusting strategies based on the financial situation of the target audience. Many businesses are aware that the week following the traditional pay period can show a significant jump in sales. Analysis of data for trends like this can allow for advertisements to be targeted toward potential customers in periods when they are more open to spending.

Inversely when customers have less disposable income they could be swayed by a promotion or incentive, maximising the potential return from a single customer. By controlling for a target demographic needs, which could affect other factors such as their mood and sociability, businesses can ensure the targeting of their advertising only reaches the relevant customers, increasing the return on the strategy’s initial costs. However, some customers prefer to keep their data private and share as little as possible.

In support of this, Coinis has developed tools that can operate with lower levels of data dependency, instead focusing on contextual data, search and use of mechanisms like notifications to reach potential customers without compromising their privacy. Staying Up-to-Date with Digital Advertising Trends and Technologies Like other fields relating to tech and AI, the speed these technologies change can make it challenging to keep track. While some of the old tricks, like putting items in a basket and waiting for a coupon code, can still work, the increasing diversity of strategies available warrants being informed of developments.

For businesses, this can mean the difference between essential revenue, growth, and customer retention, and for consumers, it offers benefits tailored to their changing situations and needs. While mainstream tech media is often a helpful source of information, many companies and projects offer regular blogs and project updates often shared through social media. Making Digital Marketing Work For You While implementing a full marketing strategy has traditionally been in the domain of business, the increasing accessibility of technology like data science and generative AI offers an opportunity for individuals to leverage these technologies to support their own projects.

Additionally, having a greater knowledge of the way we are marketed to can help customers remain aware of the mechanics that attempt to influence their financial decisions. Sometimes going a step further and understanding the way that interacting with these systems can result in better service and customer experience in the long run. Follow me on Twitter or LinkedIn .

Check out my website . Jaime Catmull Editorial Standards Print Reprints & Permissions.