Virtual Reality: The Future of Marketing

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5 Tips to Improve Advertising Targeting and Reduce Spend
Image of User Demonstratiing Virtual Reality Glasses (VR) - Field 1 Post Digital Marketing Services

 

Online ads are a huge game changer, whether it’s LinkedIn or Facebook ads you choose to specialize in there’s no doubt that the potential consumer reach for both is unquestionable. This is where the concept of targeted advertising comes into play. In order to run a successful campaign you need to first have an idea of what types of consumers you ideally want to attract. Targeted advertising serves to place specific advertisements in front of audiences who would most likely be interested in that type of information. Marketers want to both cater to consumers as well as maximize on advertising spend as efficiently as possible.

 

Thanks to Digital Marketing efforts, this has created a new form of advertising, now marketers are equipped with more consumer data points making it easier to run customized campaigns that speak to specific audiences like never before. Data such as demographic, age group, job title, education level and interests are all data points that are mainly used to customize campaigns and further enhance targeting efforts. The more relevant the message, the greater likelihood of conversion and the less likely you are to waste advertising dollars on uninterested candidates.

The great thing about targeted advertising efforts is that it yields positive results and high return on investment. Nowadays consumers expect brands to be constantly producing new content that is attractive to the eye. Social media advertising budgets have just about doubled worldwide, going from $16 billion in 2014 to $31 billion in 2016. According to eMarketer, a market research company, online digital advertising spend is projected to reach $375 billion by the year 2021.

Today we’re going to take you through 5 key strategies that you can implement in your campaign targeting methods in order to curb unnecessary spend and maximize on key audiences.

1. Utilize Facebook custom and lookalike audiences
Facebook ads are very versatile in the sense that they allow you to create a custom audience. You can target and re-target ads to users based on their interest, meaning that users are not automatically bombarded with ads with irrelevant content. Facebook ads is an ideal social platform because it allows marketers to create a custom audience in order to greater enhance customer reach. These audiences are built from unique data points or identifiers such as email, address, or phone number.

Lookalike audiences differ from custom audiences in the sense that custom audiences are built with your existing prospect data. Lookalike audiences are a great way to reach new people who are likely to be interested in your product or service because they’re similar to your current buyer persona.

2. Enable Event Tracking
In order to gain a better sense of website users, may marketers utilize some form of event tracking on the main landing page. This helps provide key insight into visitor behavior such as device type, time most visited and age range as well as geographic location. Based on this data, it makes it easier to fine-tune target campaigns based on the most prevalent data points rather than spend more on a generalized approach.

Event tracking such as Google Analytics of the Facebook Pixel often comes in the form of a simple code snippet that can added to the header tag of your main site. This will give a comprehensive overview of how visitors are interacting with your web presence.

3. Remarketing with Google Ads
Google ads allows marketers the opportunity to view, download and assign existing audiences. Existing audiences are buyer personas that are grouped together by specific interests, intents and demographic information. The platform is very versatile because you can target remarketing lists and interest categories on top of enabling A/B testing in order to compare which campaigns are most effective.

The good news is that these are already prospects that have previously interacted with your website or mobile app as opposed to a cold lead. This makes the probability of conversion that much smoother since it’s already a product where the consumer has expressed interest.

4. Use Google’s In-Market Audience
This key feature allows you to find and target to consumers who are already researching specific products or services. These are users who already actively considering buying a product as they browse the web. Creating an in market audience is fairly simple, Google accurately categorizes users from the Google Display Network so you can maximize on targeting those most likely to benefit from your offering.

Google is able to determine intent based on real-time data such asĀ  frequency of visits, contents of sites previously browsed and clicks on related advertising. For example, imagine you’re in the market for a new home. You’re currently researching various home comparison sites as well reading builder reviews. The best part about in-Market audiences through Google is that it allows you to create customized marketing messages that directly appeal to this group of purchase ready buyers.

5. Try Facebook Audience Insights
Audience insights is huge because it presents a treasure of trove of valuable information about your followers. This data can easily be harvested and used to try and target new leads and customers.

Once of the easiest ways to utilize data provided by Facebook Audience Insights is to learn more about your competition. Finding key information about competitors on Facebook allows you the chance to optimize your campaigns to target your competitors existing fanbase.