– Formtoro has developed an ad recommendation engine that leverages intent signals, allowing for more efficient media buying decisions in less time.
– The company has improved data insights by linking data collection to revenue and providing reports and insights on performance gaps.
– Formtoro uses data to identify gaps in customer touchpoints and provides agencies and brands with checklists and questions to improve these areas, leading to better resource allocation and increased efficiency.Implement a comprehensive data strategy that includes collecting zero party data, leveraging intent signals for ad recommendations, improving data insights linked to revenue, allocating resources based on data trends, and optimizing strategies based on data analysis.When we set out to build Formtoro, we thought it would be cool to collect zero-party data and leverage it for marketing. What we realized after talking to brands and agencies over the last few years is that most of them struggle with a cohesive strategy around data and customer journeys. Most importantly, what to do with and how to apply the data. What started as teaching turned into automating. Over the last year, we’ve been focused on improving efficiency. Here’s what we’ve built:
1. Ad recommendation engine leveraging intent signals
We put the finishing touches on it this week. I feel 100% confident making all our media buying decisions from one screen without looking anywhere else. What used to take a few hours and multiple platforms is done in less than 10 mins. In the future, full automation will be possible with a combination of zero-party data, first-party, and third-party data. And it will be better than anything on any platform.
2. Improved Data Insights
Data collection without context doesn’t help; all our data collected is linked to revenue where possible. This is broken down on a Source, Campaign, Ad Set, and Ad level. It’s also broken down across all our signup forms (yes, you should have more than one). We continue to refine our reporting to not only provide reports but provide insights on where gaps exist to improve performance. We’re in the process of automatically highlighting opportunities for growth. Something we currently do manually with companies. It’s close, weeks away. This is how you build a content strategy on autopilot.
3. Resource Allocation
Ad Traffic is the most consistent traffic for most ecommerce brands, combining clean intent data with Ad traffic allows us to categorize behaviors and find gaps anchored in data. Often in marketing, people point fingers at each other. It’s easy because there are many things that impact the customer journey:
– Landing Page
– Product Page
– Organic Channels
– Available Products
– Product Price
Using data, we can isolate global trends across your traffic and identify where gaps exist. But identifying them doesn’t help solve them. So we created customer-focused questions and checklists for agencies and brands to tackle these touchpoints, along with using data to surface where the biggest gaps are so that agencies and brands can see issues and work towards improvements. There’s a waterfall effect with these items where they build on one another. This leads to better allocation of resources and increased efficiency.
4. Optimization through Data TrendsData told us we needed to reconsider an existing “best practice” we were following. This isolated change resulted in adding 20% revenue overnight. The data trend we based this on, is showing across all our clients.It’s likely an opportunity for everyone. #ecommerce #marketing #datahttps://www.linkedin.com/in/jivanco