Big data retargeting: 3 ways to recapture customers with promotions
Retargeting has dominated the market in 2015, and it is increasingly becoming more sophisticated in delivering the right messages and products to online shoppers. Consumer products companies can use the technology in conjunction with big data analytics to target shoppers within a specific region or demographic, particularly if they suddenly appear to have lost interest in a product. Here are three rules for online promotions and big data retargeting, which can recapture consumers where product sales are dropping.
1. Understand your target audience
Identifying your target audience is an important element of advertising and marketing, one that cannot be overlooked when planning a promotion. If your target audience is retired women with granddaughters, then do your homework to understand what other commonalities they share. What websites do they like to visit? What cars do they drive? The more information you gain on your audience, the more informed your promotion strategy can be.
Utilizing analytics to gain an understanding of your customers' demographics will help you get specific and personal with your target audience before launching your promotion. This will help your return on investment and ensure that your marketing budget is not being eaten away by reaching an unintended audience.
When it comes to retargeting and online promotions, don't underestimate the power of coupons. They have been around for decades and have grown in popularity thanks to printable and digital versions on the Internet.
In a recent Forbes blog, Roger Dooley discusses how customers who receive coupons feel more content and relaxed. By offering a coupon to customers in your retargeting efforts, you are offering consumers a deal that makes them feel good about your brand and product. Everyone likes to feel that they are getting a bargain, and digital coupons are the right vessel to offer deals.
Sweepstakes or giveaways are another excellent promotion to offer customers in a region where your sales are dropping. Align the sweepstakes with a product from a local sports team or tickets to a local attraction to make the offering personal to the consumers in that region.
In your retargeting campaign, use banners to encourage people to visit your site, where they can sign up for the promotion. Once consumers land on your website, offer them extra entries if they share a link to your sweepstakes on social media. Make sure they provide an email address when entering the promotion. You can also offer them a discount for signing up on your email lists. Increased visitors to your site means increased brand awareness, along with new metrics from cookies that further help you retarget this audience.
3. Deliver your promotion to the specific region
The type of promotion is important, but its delivery is equally so. Understanding how to reach your consumers and get them to take advantage of your promotion is the whole point. Using big data analytics, consumer sales data, ZIP codes, demographics and cookie-based marketing information, brands can build regional consumer profiles. This big data can inform personalized advertising and harness geographic specificity in marketing and promotions.
The amount of consumer data available today is unprecedented, and it will continue to grow as the emphasis on customer-centric operations, marketing and product development transforms the way brands do business. Analytics allows companies to examine transactional data from every engagement with consumers, even when they simply view an item without even clicking on it. Brands can use that information to better understand their consumers and make decisions about what to market to them and how to do it. Without the need for clicks to generate information, big data retargeting presents the possibility of reaching more visitors on more sites.
Unlock the power of your consumer data—connect with IBM analytics professionals via our Consumer Products Solutions Page.