Every business owner would understand that every customer is unique. They have different behaviour and this can influence their shopping decisions. This is why one marketing strategy is never supposed to work for all the customers. This is why behavioural targeting is the best approach.
This type of marketing strategy involves delivering advertisements and content to users based on their previous behaviours and interactions. This method usually relies on collecting data about user’s online activities, such as the websites they visit, the searches they perform, the products they look at or purchase, and other actions they take online. This helps in creating more personalized content that aims at getting more engagement and hence more conversion rates.
Key components of Behavioural Targeting –
1. Data collection –
This involves tracking the websites and pages a user visits and recording the keywords and phrases a user searches for. Also, the clicks, views and other interactions with content and ads are monitored. Additionally, past purchases and shopping behaviour is analysed.
2. User segmentation –
Here, the users are grouped into segments based on their behaviour patterns. For example, frequent shoppers, users interested in a specific category, or users who abandon carts.
3. Personalization –
This involves displaying targeted ads on websites, social media platforms, and other digital channels where the segmented users are likely to spend time.
4. Tracking and analysis –
Continuous monitoring of the effectiveness of the targeting strategies through metrics such as click-through rates (CTR), conversion rates, and return on investment (ROI) is done.
Benefits of Behavioural marketing –
- Ads and content are more likely to resonate with users because they are based on demonstrated interests and behaviours.
- Personalized ads typically see higher engagement rates compared to generic ads.
- Tailored messaging and offers can lead to higher conversion rates as they address the specific needs and preferences of users.
- Users benefit from seeing content and offers that are more relevant to them, which can improve their overall experience with a brand.
- More efficient use of advertising budgets by targeting users who are more likely to convert.
Summary –
Behavioural marketing is a better way of understanding what is more convenient for the audience. This includes data collection, user segmentation, personalized ads, ad placement and tracking. This will benefit businesses in multiple ways. They will be able to increase the relevance of the ads and campaigns, increase engagement, improve conversion rates, have enhanced user experience, and better ROI. Some of the common examples of behavioural targeting include e-commerce, retargeted ads and Email marketing. Overall, this can help in creating a drastic change in sales with data-driven decision-making.