Audience targeting is the process of identifying, researching, and targeting an audience for promotion or marketing campaigns. However, it isn't just about pushing messages to people – it's about pushing relevant messages to people. As such, you'll see a lot of developments in algorithms that predict what content someone will be interested in based on clicks, likes, and shares. Plus, technologies like blockchain are going to revolutionize how we think of advertising and marketing by enabling us to better track our target audience.
Audience targeting can be a very competitive field when it comes to finding consumers that match your product offering. But it's not about who has the most money — it's about finding people with similar interests and demographics.
The benefit of audience targeting is that you can hit a very specific group of people where they are, which is becoming more important as consumers spend less time in traditional venues and more time online.
First, you need to figure out who would benefit from your product or service the most. Who is your perfect customer? The last thing you want to do is tread on the ground already occupied by your competition or begin to work in an industry that has a lot of other people working already.
Knowing your audiences – and how to target them – is the cornerstone of every company’s marketing focus. As new marketing technologies provide us with increasing amounts of data and information, the way we target those audiences must evolve in line with this new age of digital transformation. With the growth of digital, marketing priorities are changing. These days, KPIs are no longer measured primarily by cost-per-rating points but, rather, by conversion rates and sales leads.
Martech (Marketing Technology) is growing at a lightning-fast pace, showering marketers with a wealth of information and tools that can carry their operations to the next level. So why isn’t that as positive as it sounds? In large part, because the industry is mired in now-dated strategies that have long been its staples – most notably demographic targeting. However, regarding audience segmentation, demographic targeting just doesn’t go deep enough. Instead, behavior, intent, and interest are now what matters most.
The Future of Ad Targeting
Through significant advances in MarTech, the ever-connected, internet-savvy consumers of today are constantly indicating their interests, aspirations, and habits. This plethora of data allows marketers to capitalize on the millions of opportunities now available, providing a means to communicate with their target audience in more dynamic ways and creating a more meaningful connection.
The evolution of big data, machine learning, and AI, among other technologies, is helping marketers to take full advantage of these superior targeting points. This new wave of tech-led, conversion-driven marketing strategies targets users based on consumer interest, purchase intent, user behavior, and category associations – metrics that result in sales and ROI. As all industries focus on digital, data-led analytics will increasingly rule supreme – the continued rise of Data Management Platforms and data mining algorithms will provide more in-depth information. By understanding what an individual needs and what drives their behavior, a brand or business can earn a loyal customer.
By using platforms like Facebook and Instagram effectively, companies can get a far more granular understanding of consumer interests. And they can begin to predict and even suggest potential future interests. Netflix, for instance, targets what it calls “taste communities.” Instead of focusing on demographics – which the company says are not accurate in indicating what people like to watch – Netflix looks at the connections among content types and what their audiences choose to watch. In other words, the company makes decisions based on behavior and interests.
With the technological advances in recent years and the ever-widening field of available consumer data, advertisers have become increasingly sophisticated in targeting their customers. With a simple click, they can send advertisements to people who they know are searching for a new car, or who are on dating websites. This kind of highly personalized approach is called ‘targeting’. Recent innovations such as Facebook’s Ads Manager service and Google’s keyword targeting offer an unprecedented level of flexibility for online advertising campaigns.
There are also some innovations that you might not even know about yet! Have you ever clicked on an ad because the headline caught your attention? Well with new technologies like eye-tracking software from Tobii Group AB this could be made even easier for advertisers thanks to the data produced by their technology.
As targeting has become a key aspect of marketing, the technology to deliver it has also advanced. In traditional media advertising, advertisers purchase millions of dollars worth of broadcast and print ads for their products. But online, campaigns are targeted based on user data and demographic analysis. Even offline media outlets have started using more sophisticated targeting techniques with offline promotions such as personalized leaflets or TV or radio ads.
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