What is prospecting in marketing?
Prospecting (or display prospecting) helps attract new audiences who are likely to convert and become customers.
By targeting digital profiles similar to those of your existing customers, prospecting automates new customer acquisition. Also called look-alike audiences, similar audiences, or audience modeling, prospecting is the first step in a full-funnel marketing strategy.
How does prospecting work?
Prospecting campaigns are powered by large, robust data sets of customer intent. Gathered from online publishers, social media networks, or advertiser sites, these data sets are analyzed by your display advertising company to identify potential customers who are likely to engage with your brand.
Prospecting in marketing works as a customer-acquisition solution because it eliminates guesswork. Instead of relying on the advertiser to manually set demographic, contextual, or placement targeting, most prospecting solutions use machine learning algorithms to serve ads to probable customers.