Targeting 101: Look-alike Modelling Expand your advertising audience and target people who act like your best customers

Transcription

1 Targeting 101: Look-alike Modelling Expand your advertising audience and target people who act like your best customers

2 Targeting 101: Look-alike Modelling 1 These are your customers.

3 Targeting 101: Look-alike Modelling 2 And this is everybody else.

4 Targeting 101: Look-alike Modelling 3 The gazillion-dollar marketing question is: How do you find the people over there who are the most like the ones over here?

5 Targeting 101: Look-alike Modelling 4 The old way. Let s target this demographic of buyer based on the customer persona we came up with.

6 Targeting 101: Look-alike Modelling 5 This works up to a point, but targeting accuracy isn t always great. You re held back by: Lack of data richness audience segmentation is based on a limited range of attributes. Lack of identity resolution owned data was siloed from third-party data, inhibiting enrichment and scale.

7 Targeting 101: Look-alike Modelling 6 A better way. We know a lot about our high-value customers and how they behave. Let s go after people who look and behave like that.

8 Targeting 101: Look-alike Modeling X This is look-alike modelling: the people-based method of targeting prospects who are the most like your best customers.

9 Targeting 101: Look-alike Modelling 8 If you ve struggled to grow your marketing audience intelligently, this could be for you.

10 Targeting 101: Look-alike Modelling 9 Instead of stopping at basic demographic data like age and gender, you get a more complete customer profile by mixing in things like mobile or location data, online search, and behavioural data.

11 Targeting 101: Look-alike Modelling 10 Your small-but-smart segments can then be scaled up to build largebut-relevant audiences of resolved identities for your multi-channel marketing campaigns. You target people who are the most likely to turn into customers only now you reach a lot more of them.

12 Targeting 101: Look-alike Modelling 11 And you save money by not targeting the people who are unlikely to buy.

13 Targeting 101: Look-alike Modelling 12 Identity resolution makes it all possible so that marketers can use privacy-safe data to make sure your customer data is never at risk. Here s how you do it.

14 Targeting 101: Look-alike Modelling 13 Start with your own data, whether it s offline CRM or online behavioural data whatever you have that no one else does.

15 Targeting 101: Look-alike Modelling 14 Use this to create your seed segment. It might be people who make high-value purchases, or a particular group that has been a rich source of subscriptions to your newsletter. (Only begin when you know exactly what your end goal is, so you can design, manage and measure your campaigns more effectively.)

16 Targeting 101: Look-alike Modelling 15

17 Targeting 101: Look-alike Modelling 16 Then it s time

18 Targeting 101: Look-alike Modelling 17 Then it s time to onboard the data

19 Targeting 101: Look-alike Modelling 18 Work with a data provider or DMPs data to enrich your seed segment with added attributes. This data is analysed against the data provider s total audience to identify a larger number of people who look like your seed audience. All the data is tied back to a real person in an anonymised, privacy-safe way.

20 Targeting 101: Look-alike Modelling 19 Your look-alike segments can then be onboarded across all of your marketing channels: display, social ads, video, mobile wherever you engage with audiences. But remember, look-alike modelling isn t a one-and-done job. Make sure your models stay accurate by refreshing the data regularly.

21 Targeting 101: Look-alike Modelling 20 Listen to what the data s telling you. If campaign performance dips, test new channels and creative until you hit the mark and never stop measuring.

22 Targeting 101: Look-alike Modelling 21 When you do it right look-alike modelling is a powerful marketing tactic

23 It results in double or even triple the results of standard targeting, according to the 30% of advertisers and more than half of agencies who reported using the tactic. [1] [1] exelate State of the Industry 2014

24 Targeting 101: Look-alike Modelling 23 One bank used look-alike modelling to improve its online ad targeting and measure the impact of digital marketing on offline conversions. It combined its top customer data with third-party financial data to create a look-alike segment. The ads served to this audience resulted in a 150% better response rate and 40% higher ROI than the control group.

25 You ve got great customers but there are so many more people just like them out there, beyond your CRM system. Look-alike modelling could help you reach them. Data connectivity is your first step to peoplebased marketing. LiveRamp.uk