Approximately $16 Billion was spent on digital marketing in 2016. With the promise of big data being able to provide true people-based marketing, the yearly expenditure for companies continues to increase. A major problem is that the paid search continues to be a relatively anonymous channel. Marketers bid on keywords, which can imply intent but are still anonymous. Without a comprehensive view of the individual, paid search results can suffer from missed targeting opportunities, wasteful bidding’s, and generic ad copies.
Following are the digital marketing campaigns which are based on target based marketing –
A] Retargeting – Also known as remarketing, it is a form of online advertising that can help you keep your brand in front of bounced traffic after they leave your website. It uses a simple Javascript code to anonymously ‘follow’ your audience all over the Web and is a cookie-based technology.
However, the latest and more efficient form of search marketing is people based search marketing.
B.] People-based marketing – It solves challenges by targeting people, rather than cookies or digital IDs. It enables brands to create a cohesive marketing system, centered around the individual consumer and anchored by the collection of real-time behavioral data combined with first party brand data. With People-Based Marketing, brands can analyze and respond strategically to consumers in real-time through devices and channels, unifying the customer’s journey, unlocking a new source of revenue and achieving a truly omnichannel business. Hence people-based marketing generates a more efficient social media marketing target audience.
C] Search engine marketing – SEM uses paid search ads to get more web traffic through the desktop or mobile web search. It isn’t a substitute for other promotional activities, especially considering that people ignore search ads most of the time. However, a competitive cost per acquisition makes paid search a valuable way to boost search engine presence, and support other marketing campaigns.
While advertising typically lets you pay for placement, SEM campaign for targeted marketing is a more fluid process. It generally uses pay-per-click (PPC)—also called cost-per-click (CPC)—which is a process that uses an auction and ranking system to determine which ads appear in which order.
D] Social media marketing – This is a powerful way for businesses of all sizes to reach prospects and customers. Your customers are already interacting with brands through social media, and if you’re not speaking directly to your audience through social platforms, you’re missing out! Great marketing on social media can bring remarkable success to your business. Social media marketing includes activities like posting text and updating images, videos, and other content that drives audience engagement, as well as paid social media advertising.
Various different Social Media Platforms tap into different kinds of audiences here are where some of the biggest opportunities lie on the major networks:
Facebook’s users tend to be younger. Brands dealing in fast-moving consumer goods perform well on Facebook. Its users show high ad engagement overall.
Twitter is mainly used for news consumption. For brands, the best time to post on Twitter is from Monday to Thursday between 1 p.m. and 3 p.m. The worst time is after 3 p.m. on a Friday.
LinkedIn has the advantage of being the place for white-collar professionals to network, meaning its population is highly desirable since it is a high-income and highly educated user base.
Pinterest is popular for primarily sharing food and drink-related content and family and parenting-related items. It is poised to become one of the big four top social networks.
Instagram Over 90% of people who use Instagram are under the age of 35, which makes it an attractive platform for the apparel, entertainment, and media brands focused on the 18- to 34-year-old age bracket.
Tumblr is strong with teens and young adults interested in self-expression. What’s more, the teens who do use Tumblr, said they use it for several hours a week.
E] E-mail based targeting – With email marketing, you have the ability to control exactly who sees an email by segmenting your contacts based on their lead status, demographics, location or any other data. Targeted email marketing helps you put the right content in front of the right customers. This results in removing as much resistance as possible. Email marketing increases brand awareness. It is easily shareable and costs virtually nothing.
Return on Investment Benefits:
A Jupiter Research study found that marketers who segment their lists and employ quality targeting can improve conversion by 355% and increase revenues by 781%.
So why don’t more businesses employ targeted marketing?
They don’t employ target marketing because of the challenge in harnessing new technology and big data to target customer segments and even customers at an individual level. However, with the opportunities to increase ROI and be more relevant to customers targeted marketing is turning into a necessity.