Whenever the shift to a cookie-less state happens around the globe, the only solace for marketers would be data and getting it in a timely manner, as per Ashish Bhasin, Co-founder and Chairman, RD&X Network. The network was launched by Rajiv Dingra of Watconsult.
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To help marketers keep pace with the fast-changing digital world, RD&X Network has launched ReBid - a unified marketing and advertising AI-ML automation platform – which comes with the attached benefit of making the marketer’s life easy in the post-cookie world.
“No matter whenever the world shifts to a cookie-less state, be it in 2024 or any other year post that, the only resort for the marketers would be to use the unique identity for getting data in a compliant manner,” Bhasin said.
“Also, the first-party data will become the main source of data in a cookie-less world which will make it crucial to understand where the consumers are and what they have done or how they have acted in the past. That’s why tracking, capturing, storing and analysing the data in a unified manner becomes imperative,” he added.
As per Bhasin, since all big players like Google, Facebook, Amazon, etc. work on walled gardens, the marketer cannot access the data beyond each of these platforms. Thus, RD&X’s ReBid, will make the marketer’s life easy since it will allow them to get a bird’s eye view of data and analytics across platforms.
“Not having this becomes very problematic as the modern consumer doesn’t stick to living their life within these walled gardens and use a plethora of services and applications,” Bhasin pointed out.
According to him the crux of the problem with digital marketing is that the marketing and advertising industry looks at it in different silos, whereas the consumer moves across platforms which makes it difficult for tracking and analysing data.
Commenting on why RD&X Network was established in the first place, Bhasin stated, “The future of advertising is going to be platform-based and tech-supported since the digital advertising market is expected to grow and become a trillion-dollar market globally by 2027. Therefore, there is no way that one will stick to only traditional mediums and everyone will have to eventually ride on the digital bandwagon.”
“As a result of this digital-centricity, RD&X has come up with ReBid to become the first India out global, platform-based advertising and marketing network which aims to unify everything,” as per Bhasin.
He also emphasised on the necessity of having a platform-based data and analytics model by saying, “On a global level, more than 60% advertising is digital and digital is the fastest growing medium, even in India. Since the consumer is digitising and there is so much scale coming in, there is no way that one will be able to advertise the way they did 100 years ago. The amount of data and the analytics required will necessitate that it becomes platform-based.”
The main areas of focus as highlighted by Bhasin are the USA, UK, Middle East, and some APAC markets since digital media consumption is increasing.
Speaking about ReBid, Bhasin said, “It provides a birds eye view across platforms so that a marketer can make an intelligent and informed decision about a consumer, and it should be in a unified way as a consumer and not in 100 different silos.”
RD&X has converged the three- MarTech, AdTech and DeepTech to form MADTech. Thus, ReBid encompasses all the features of the three constituents and uses proprietary AI-based algorithms that leverage on the MADTech to ensure a seamless use of technology through Artificial Intelligence which comes through Machine Learning over a period of time.
“You have an option for automating media buying and planning, analysing the data and all other aspects that are required for digital marketing, on a single unified platform. You can not only get a unified view of the consumer but can do the entire end-to-end process of advertising and marketing on one platform,” he suggested.
Adding to this chain of thought, Bhasin also pointed out that, even today, a large part of the work that is done in many advertising agencies is very mechanical and it cannot keep pace with the digitisation happening across the world as it is not possible to do everything manually and automation is no more a desire but is the need of the hour.
As per Bhasin, “When we automate and add a layer of artificial intelligence and machine learning, we use our people for intelligent purposes, for analysis and not just use them for mechanical work which can be easily automated and that also reduces errors and makes the analytical process easier.”
This unified workflow, data harmonisation and real-time automated reporting facilitated by ReBid helps advertisers and marketers to get a positive Return on Advertising Spends, which is the most crucial thing in the advertising world.
Owing to AI-ML, as marketers will minimise wastage and resort to automation, an immediate saving of 40% of the resources can be registered with an incremental ROAS of over 30%, as per Bhasin.
“For getting a good ROAS you must minimise wastages, you must free up your time to get more into analytical data. The biggest benefit is to get a unified view across platforms, and the more automation you have, things become more and more error-free,” he said.
“If skill, client’s time and the time of agency people go together, the platform will be able to throw up the data analysis for which we use intelligence and that’s the biggest benefit which evolved clients will be able to get initially,” he said.
Speaking about the MADTech and AI-ML technology being used by the Network, Bhasin said, “RD&X’s MADTech and AI-ML technology is a continuous yet ongoing process with the biggest challenge being to constantly keep learning, relearning, and unlearning to make the system more and more intelligent.”
Furthermore, Bhasin also highlighted that the technology would keep on improving and becoming more suited for the client with every new flow of data.
“When it comes to intelligence, it must be relevant intelligence for the client. The more the clients use it, the more their data flows into it, the deeper would the intelligence develop. There are some clients who are very forward looking and digital-first, they tend to be early adopters as compared to clients who are still processing the change and may not be suitable early adopters,” Bhasin said.
“All clients have data, but not every one of them knows what they can do with the data or how to use the data or converge it and use it in a unified manner. ReBid will help in not only empowering the clients to do that but will help them evolve with substantial usage,” he concluded.