Behavioral targeting segments your audiences based on their interests as exhibited by their behavior. By gathering data, segmenting, and targeting your audiences by behavior, you can vastly increase your sales and win client loyalty.
Recent research by McKinsey & Company indicates that “organizations that leverage customer behavioral insights outperform peers by 85% in sales growth and more than 25% in gross margin.” Any company that ignores these figures won’t be around for long because customers expect personalized marketing. To maintain a competitive edge, you need to run campaigns with robust behavioral targeting strategies.
Consider How Behaviors Are Connected
Some behaviors aren’t related but can show up enough in your data analysis to be meaningful. For example, some years ago, Orbitz’s research found that Mac users spend up to 30% more per night on hotels than PC users. Orbitz, therefore, started to market higher-priced hotels to Mac users. Is this unethical? Orbitz didn’t think so, because they weren’t showing different prices for the same room. They were giving people what they wanted — in this case, Orbitz worked off the logic that Mac users preferred higher-priced hotel rooms.
People are understandably sensitive about pricing, so it’s essential to consider PR angles to your marketing moves. This is just one illustration of how one behavior (using a Mac) can predict another behavior (preferring higher-end hotel rooms).
Analyze customer behaviors to determine what they view and what they ultimately buy. Using this information, you can bundle offers or suggest related products. Buying behaviors can even indicate that customers who buy one product may buy another that’s unrelated at first glance.
Use Remarketing to Target People Who Have Already Shown Interest
Remarketing tracks customers who come to your site so you can show them ads as they browse the Internet at a later time and a different place. The goal, of course, is to bring them back to buy. Dynamic remarketing makes it possible to show people ads for products they viewed on your site and similar products.
You can slice and dice behaviors in many different ways. For example, combined with Google Analytics, you can choose to remarket to people who fell off at the shopping cart, live in a particular city, visited key product pages, spent more than ten minutes on your site, and belong to various demographics.
Pick the Low Hanging Fruit
For remarketing, instead of targeting all the visitors to your site, consider targeting the ones most likely to buy to maximize your ad dollars. A person who spends a lot of time on your website but abandoned a shopping cart is much more likely to buy than one who just checked out your home page for a few seconds.
Don’t Forget Email Retargeting
Retargeting isn’t just for advertising. When someone abandons a cart, send them an email to remind them of it. When you use email retargeting to connect rich customer email to email addresses, you can blow your conversions through the roof by showing customers items they abandoned or products similar to ones they bought in the past.
Prospect for New Customers
You can use behavioral targeting to find new customers who may have never heard of your company. Here are some possibilities.
- When running Facebook ads, target those who have an interest in a competitive company or product. You might also target those who show an interest in a related product.
- Consider targeting your competitor’s YouTube videos, so your ad pops up before your competitor’s video plays.
- Use Google’s custom affinity audience feature to target an audience who would likely be interested in your product. If you target your competitor’s home page, Google Ads will analyze the behavior of those who visit that site or are interested in related topics.
- Target your competitor’s social media followers.
- Use Google’s dynamic prospecting, which uses artificial intelligence (AI) and machine learning to analyze customer behaviors to show products to people who are likely to be interested in them even if they have never visited your site. You can add dynamic prospecting to a dynamic remarketing campaign.
Look for Opportunities
Let’s take a look at a scenario. Christy and Zara both work in the accounting department of the same large company, are single and live in the same neighborhood in San Francisco. They both shop on the same gift basket site, because Zara recommended it to Christy. But the women exhibit behavioral differences when it comes to gift baskets. Christy always sends gift baskets to family and friends in Ohio two weeks before Christmas. Zara sends gift baskets to her extended family in Indonesia at Ramadan.
These behaviors are tracked, so a company knows when to show on-target ads and send personalized emails. In this case, the gift basket company may want to market to Christy around Christmas and possibly Easter and market to Zara around Ramadan. But the company could go a step beyond religious holidays. For example, they might market their July 4th specials to both Christy and Zara but also market to Zara in anticipation of Indonesian Independence Day celebrations.
Use an Intelligent Digital Advertising Platform
Behavioral targeting requires analysis of vast amounts of minute data to work effectively. Use an intelligent advertising platform with AI and machine learning to effectively track, analyze, predict, and cater to your customers’ behaviors. It should optimize campaigns across marketing channels to attract ideal customers, keep current customers loyal, and maximize ROI.