Marketing has come a long way from traditional way with the rapid development in technology and tools, marketers tend to require more data to retarget and sell their product, services and produce quality content. Data has become oil in this modern era, the more data you have about your visitors the easier it gets to sell or put your services to them.
Changing the dynamics of marketing, customer data or lead/ subscriber data is like a gem for marketers. With a variety of data, one can easily target the customer based on the profile they have. In this article I’ll be sharing the ins and outs of behavioral marketing, so lets get started…
What is Behavioral targeting?
Behavioral based targeting is an attempt to target the visitor in a most effective way to get most of the campaigns, It is widely used in modern-day marketing or you can say mostly used by growth hackers. It is possible with the piece of code installed called as a Pixel/ Script in your website that collects the data from the user such as the pages they visit, the amount of time they view each page, the links they click on, the searches they make etc. Once these information is available at platform like Google Analytics, Facebook Analytics, or any third party analytics tool then targeting is just a piece of cake for good marketer.
What to collect?
Once the pixel or script are installed, it can collect some valuable information about your visitors. Lets take an example of Facebook pixel installed in website, With the help of Facebook Analytics, you can get many data of your visitors and even create an audience to target them from Facebook, adding to that it can also get you the advanced data such as retention rate , user journey, active users time etc. These data are really helpful when you plan your content or product so that minimum effort is needed to convert the visitors into customers
Below are the some screenshot of Facebook analytics for reference
Importance of Behavioral targeting
Its a much needed shift for digital marketer to know how behavior targeting would help them to identify the visitors to pitch in the suitable products or contents.
It also helps the marketer to understand the user journey and optimize the conversion rate and click rate of the end products. A more targeted experience will eventually be more interesting to a visitor and provide an improved user experience.
Advantages of Behavioral targeting
For marketers and companies, targeting has become much simpler than anything in today’s world, they just need place right product for segmented audience, Offcourse creatives and ad contents also plays the crucial role in conversion.
Here are some advantages I can count of as a Marketer
- Let you target known audience
- Let you target segmented audience
- Increased conversion rate
- Increased retention rate
Numbers and Stats
- 25% of online viewers enjoy seeing retargeted ads
- Website visitors who are retargeted with display ads are more likely to convert by 70%.
- The click-through rate (CTR) of a retargeted ad is 10 times higher than the CTR of a typical display ad.
- 91% of marketers who have used retargeting have found it to perform the same as or better than search, email, or other display ads.
- 68% of marketing agencies and 49% of brands have a dedicated budget for retargeting.
- 46% of search engine marketing professionals believe retargeting is the most underused online marketing technology.
- 50% of marketers said their retargeting budget will increase in the next 6 months.
- 72% of online shoppers abandon their shopping cart and only 8% of those lost consumers return to complete the purchase