Pandora Product Lead on Building Digital Marketing Products (Part 2)
Breaking away traditional digital marketing is an opportunity to think of a better way to connect with customers on a personal level. That’s what we call deep value advertising. Here are the key concepts of deep value advertising:
- Rather than paying a content owner for their eyeballs, pay the eyeballs directly and ask them to do something that is important to you.
- Relevant and engaging customer experience.
- Highly targeted-The ask must be relevant to the audience.
- Very high CPM, even higher ROI.
You can think of it like you are planting a seed. You are getting people to do stuff, such that it triggers future engagement or future understanding. These actions help them understand your product by using it to discover all the new features you’ve been working on.
The Micro Gig Economy for Digital Marketing
Deep value advertising can be of huge benefit to the micro gig economy. The micro gig economy is made up of tasks that are between 30 seconds to 5 minutes. In fact, you can get higher average hourly wages when you combine these smaller tasks. The key thing here is that the tasks should be done on people’s phones. This allows tasks to be done anywhere in the world at any time.
What we are really talking about here is having this ability to tap into the limitless potential of the human mind. Because they are not just bombarded with an ad but they are buying into it. They are proactively engaging with the process and trying to collaborate and help you. We are taking advantage of all this excess collective free time we have.
Digital Marketing Means Making a Great Ask
When we come up with a deep value advertising experience, it’s not about just paying someone some amount of money to do something. You really have to think of how to present those asks such that they are resonating with these things that motivate people. It’s also a reason why people would do this in the first place, right. So what makes a good ask?
- It needs to be relevant to them.
- They need to understand why you would want to ask them.
- It should provide clear steps to complete and an objective of what you are trying to accomplish.
Objectives should ideally trigger future engagements or some other type of attribute such that the response to the ask increases the lifetime value of the customer. People appreciate the fact that you want their opinion and that is so much more effective than just bombarding them with spam.
About the speaker
William White is a product leader at Pandora - managing the company’s content licensing and royalty systems. Prior to joining Pandora, William was the Co-Founder of Fluence Inc. - enabling content creators to receive feedback from their target influencers. In addition, William has worked on product teams at Yahoo, AOL and Slacker Radio. William is a graduate of McGill University and currently lives in the Bay Area.