In today's digital landscape, the global online advertising industry has achieved unprecedented heights, with an astonishing expenditure of approximately $600 billion. This colossal figure underscores the magnitude of a market primarily driven by brands seeking to acquire traffic through platforms such as Facebook, Google, TikTok, and others. These brands heavily invest in these platforms to target potential customers and direct them to their websites, allocating less than 5% of their budget to marketing, engagement, and expanding reach on their websites.
It is evident that on-site marketing efforts significantly lag behind the robust strategies deployed on these prominent platforms. While these platforms undeniably excel in equipping businesses with powerful tools for efficient operations and effective communication, the recent implementation of cookie laws has hindered precise audience targeting, resulting in decreased efficiency.
In this episode of the Ethical Data, Explained podcast by SOAX, host Henry Ng is joined by Romain Vermeulen, the head of data science at Wisepops. Together, they delve into the realm of different methods that assist brands in engaging with visitors.
To address this discrepancy, Wisepops, a trailblazer in the field, aims to empower brands and bridge the gap between on-site marketing and big platform advertising. By offering a range of on-site channels, including notifications, pop-ups, and other engaging formats, Wisepops helps brands understand visitor preferences, effectively convey brand messages, and ultimately drive conversions.
The timing is crucial, as recent privacy laws have reduced the efficiency of targeting on large platforms. Brands are now paying more for diminishing results, making it essential to shift focus to the post-landing stage of the customer journey—the right side of the funnel. Recognizing this shift, Wisepops emerges as a pivotal solution, enabling brands to establish direct connections with visitors on their websites and fostering meaningful engagement that drives conversions.
“I was particularly attracted by the decentralization nature of the mission of Wisepops, which is to empower brands to engage with their audience on their own website.”
By empowering brands of all sizes, Wisepops aims to become a comprehensive marketing platform, offering intelligent products, multiple channels, and easy-to-use automated tools and campaigns. The company strives to transcend being a mere solution and instead transform into a dynamic marketing platform capable of empowering brands to thrive.
Privacy regulations are at the forefront of Wisepops' practices. Every step revolves around obtaining visitor consent before initiating data collection. Through a well-defined process, Wisepops ensures compliance with GDPR and other privacy regulations. Anonymous tracking is conducted on the browser level, respecting visitors' consent to cookies and privacy policies. Valuable insights into visitor behavior, such as device usage, geographic location, and product preferences, are acquired, enabling the delivery of personalized experiences.
Adhering to privacy regulations presents additional complexities for Wisepops, necessitating meticulous attention to data collection practices. The team takes extensive measures to guarantee the anonymity of collected data, implementing encryption during data transit and storage. With a streamlined flow and a focus on a secure design, Wisepops prioritizes security and mitigates potential vulnerabilities.
As technology continues to advance, the company will leverage machine learning and AI to stay at the forefront of on-site marketing.
The company aims to tap into the on-site marketing market's immense size and address prominent pain points. For instance, Wisepops aims to tackle cart abandonment by developing smart segments that predict and engage potential customers effectively. Additionally, by optimizing on-site notifications and leveraging deep content capabilities, Wisepops intends to maximize engagement, particularly on mobile devices.
With substantial investments in its tech infrastructure and data stack, Wisepops has set a solid foundation for future growth. The company is prepared to develop and deploy intelligent use cases, providing more effective and intelligent campaigns on customers' websites. With numerous opportunities waiting to be explored, Wisepops is committed to making a significant impact and delivering value to its customers.
That’s it for today. To find out more, tune in to the full of this week’s episode! You can find links to Apple podcasts, Google podcasts, Spotify, and YouTube on the official podcast webpage - Ethical Data, Explained!