What if there was a way to significantly de-risk your media spend and enhance your advertising ROI during peak shopping season? By tapping into real-time behavioral data signals and leveraging performance advertising strategies, you can.
And, what if you found out your competitors had already deployed such strategies, and that’s how they are successfully scaling existing audiences and expanding into new consumer segments? It’s true. More and more top advertisers are prioritising first-party data and navigating around the walled gardens of Google and Facebook.
As the digital advertising industry continues to innovate, and consumer values and behaviors rapidly evolve, growth in business comes from working smarter and harder. This holiday season is unlikely to be like any we’ve experienced before due to ecommerce growth, supply chain challenges, shipping concerns, and rising advertising impression costs. To overcome the long list of obstacles, efficiency and effectiveness in advertising are a must. The following strategies will help you maximise engagement and conversions while de-risking your media spend during the holiday season and beyond.
1. Tap into real-time behavioral data signals to identify audiences that are in market and ready to buy
Historically, target audiences were defined through static demographics combined with psychographic descriptions of an ideal or most likely buyer. Based on a combination of historical data and instinct, target audiences perpetuated the status quo.
More recently, lookalike audiences came into play with the idea that today’s shoppers will be very similar to yesterday’s shoppers. Similarly, contextual targeting speculates sustained interest in specific topics. For example, contextual targeting assumes weight loss product shoppers are regularly reading content about healthy lifestyles.
But what if you want to know who is currently shopping for the product or service you’re selling? That’s where real-time behavioral data signals come in. Real-time data signals use current behavior to indicate intent. For example, if you’re selling health insurance during open enrollment, real-time data signals can identify audiences currently researching health insurance options. Real-time data signals provide an understanding of what stage in the buyer journey each individual shopper is so you can engage and re-engage them with messaging that resonates and encourages action.
2. Personalise your messaging based on individual shopper attributes and their current shopping intentions
Data is easier to find than it is to leverage effectively, which is why there is more talk than action with regard to personalisation at scale. Leveraging data effectively requires a technology stack that allows for the aggregation, resolution, analysis, and activation of data. With the proper technology connecting data to messaging opportunities, advertising can be customised and personalised to create action.
In addition to data signals indicating shopper intent, a properly built data asset can be tapped to better understand an audience – at the individual level – including what has encouraged previous actions, like clicks, calls, information requests, and purchases. Plus, artificial intelligence can be leveraged to predict future shopper behavior and recommend the best outreach to drive results.
3. Be bold with nurturing and re-engagement, but know when to stop
When it comes to taking action, consumers sometimes need to be reminded of why they should take the next step. And once they’ve been reminded, they need to be reminded again. And then reminded again. Effective re-engagement is both effective and appreciated when it is valuable to the recipients.
How do you create value within re-engagement messaging? Through resonance, which taps back into the behavioral data signals and technology points noted above. Engaging with consumers when they’re in the market and ready to buy requires an understanding of who is buying and when they’re getting ready to buy. Just as importantly, your data asset must help determine when a buyer has already made a purchase and the messaging style and frequency needs to shift.
4. Don’t try to maximise your advertising results on your own
Most advertisers do not have the data, technology or media reach to maximise their advertising results. That’s where partnerships come to play. Identifying the right advertising partner is key to successfully scaling your advertising results. Advertising partners should provide data that makes you smarter, connectivity that bolsters effectiveness, compliance to offer peace of mind and the transparency you need to understand what is working and why.
Partners that offer performance-based advertising solutions help you scale even more by de-risking your media spend. With performance-based advertising, you pay only when the action you want occurs, providing the ultimate in ROI transparency and results – essential during the holiday shopping season and beyond.
Advertising results have always been about getting the right message to the right person at the right time, but it’s never been as easy as it is today to make that happen. With the right data, technology, and media reach, personalised advertising at scale – and the growth that it brings – can be yours.