Some Need To Know Information On People Based Advertising
People-Based Marketing: What You Need To Know
Consumers today are engaging with their favorite brands than ever before. Most start their search on a desktop, check what others have to say on social media, compare emailed coupons, before finally driving to a store to buy what they want. For a marketer, all of these actions touch points that are critical to understanding their customers’ needs and wants.
As a result, tracking consumer identity can be quite tough, something that led advertisers to target devices without knowing the person behind it. People-based marketing is now changing all that.
As the latest trend within the industry, it is crucial that you understand the basics of people-based marketing. Get all the information you need about this marketing approach and understand why you need to include it in your clients’ media mix with Predyctive.
People Based Marketing Explained
In simple terms, people-based marketing can be described as a way of gathering customer data using both online and offline sources and using this information to recognize and reach people on any device more accurately. People-based marketing connects a brand with people and not device groups or an audience. This makes it easier for you to target specific people with messages that matter to them and engage in more meaningful ways.
The launch of Facebook’s Custom Audiences was one of the very first people-based marketing initiatives. The initiative made it possible for advertisers to match CRM data with Facebook user IDs enhancing targeting. It is no surprise that Google and Twitter followed suit almost immediately. Today, there are a couple of people-based marketing options available to marketers beyond early adopters like LiveRamp, Amazon and more. Search “people-based marketing solutions” on Google, and you will see over 5,000,000 page results!
People Based Advertising: How It Works
We have all been followed by an ad some weeks after we looked up something online and have already bought it. As an advertiser, you understand how frustrating it sometimes can be to see money wasted in such a way. People based marketing is quickly taking over the digital ad game and here is a look at how it works:
Let us say you run a car dealership and want to get previous customers to visit your lot for a year-ending closeout sale. The first thing you will need to do is to take your customer’s offline data” things like their phone number, purchase history, email address, and occupation” and upload the information to a secure platform” our platform. This is known as data onboarding.
Once we have this information, we match it with the people’s digital information like their browsing habits, social logins, and device IDs. It is worth noting out that we anonymize any personally identifiable info in the process; as such, you can rest assured knowing that their privacy is protected.
We then distribute these profiles to the media platforms of your choice where you can recognize and fragment it to reach the people you are targeting. So instead of directing your efforts to males in their 30s and who like trucks, you can target John, a rancher with a truck lease that’s just about to expire.
If you know your online customers, it will be easier to deliver ads that are relevant to them throughout their day regardless of where they’re browsing. The good thing is that these ads can be personalized to suit the targeted audience. For instance, you could customize your ad to make it more relevant to joe by offering information related to his needs like increased towing capacity and an all-wheel-drive package.
Whoa! It seems kind of personal. How do you know if it is right for my clients?
People-based marketing programs are best suited for advertisers with a reliable database of purchase or offline information. Nevertheless, anyone with several sources of data can still build an effective people-based marketing campaign. Some of the industries where people-based marketing strategies can be used include retail, entertainment and travel, health and fitness, CPG, automotive, education, and restaurants.
Not sure you have enough data? Here is where to start?
Getting to know if you have the data needed for people-based marketing to work is not that straightforward. However, you could start by taking the time to understand the different marketing data types available.
- First-party Data: This data is collected directly from the customers using POS and CRM databases, subscriptions, and survey responses.
- Second-Party Data: This is first-party data that has been directly bought from a trusted source or related publisher, for example, an airliner sharing its frequent flyer’s profiles with a partnering credit card company.
- Third Party Data: This is data collected and sold by outside companies. The information may include behavior lists, demographics, and consumer lifestyle.
As first-party data is pivotal to the success of a people-based marketing strategy, it is advisable that you concentrate a lot of effort there. Therefore, consider building deeper and meaningful first-party data through consolidating all the CRMs in your organization, hosting gated content on your site to attract new leads, or giving your customers a means of sharing their information when checking out.
Still not sure this is for you? Here is why you need to jump on to the people-based marketing bandwagon:
The over 90% of online media buyers cannot be wrong. According to an e-consultancy and signal report, these are the numbers that increased ad buys last year. And it works! We have seen 10-fold improvement in view” through returns on investments instead of third-party behavioral sections.
Here is a look at three quick ways to use people-based marketing to increase your marketing spend efficiency considerably.
Match Customer Devices with Profiles for Improved Retargeting
Matching first-party information with online devices will allow you easily retarget people based on their app downloads, internet behaviors, online shopping history and such. Use the insights provided here to turn your single-channel shoppers into Omni-channel buyers.
Exclude People Who Already Purchased A Product for Smarter Spending
At times, it is not about showing a larger number of people your ads; it is about presenting your ads to the right people. To avoid unnecessary expenditure, consider excluding current clients from your awareness campaigns. Doing so will also allow you to retain loyal customers since they won’t be receiving adverts they do not need.
Expand Reach with Targeting New Prospects Who Think Could Become Top Buyers
Try and gain new prospects by targeting potential buyers who you think could become your best customers. Consider using look-alike modeling which takes up trends in data to find audience segments with like-minded people for more effective hunting.
Still need proof? Our people-based marketing statistics pack has got you covered. It is a free resource that offers the statistics powering the growth of people-based marketing and includes reasons why the marketing strategy needs to be a part of your media strategy.
Now that you are well versed in people-based marketing and how you can use it, it is time to ask yourself one question: are you ready to use your first-party data? Contact us today and let us help you get started.
Call now to get in touch with one of our specialists!