What is precision advertising?
Precision advertising is a technique that we use more and more often in the digital world. With its help, we can successfully retain customers and sell similar products or services to existing customers more easily and more effectively. Precision advertising emphasizes the importance as a part of advertising techniques. In order to create relevance in advertising, we need data on the personal preferences of potential customers. Information that comes in very handy for precise advertising is information about the behavior of visitors. Of course, the data on which we base our precision must be up-to-date, as this is the only way we can aim with maximum precision.
Precision advertising is suitable for existing customers to encourage loyalty and analyze their sales behavior in even more detail. Precision advertising relies less on creating sales-persuasive ads and more on creating special offers and discounts that more easily attract existing customers.
Market segmentation
In order to create the best possible ad, we need to use previously defined market segments and sales personas. With such a technique, we break our market into smaller pieces. Market segmentation depends on customer and visitor behavior data. We get this information from past purchases and the person’s information when they register on our site. In this way, we can easily get information about gender, age, location, and other preferences. All this data is stored in a database and later analyzed by the marketing department. This way we can get a better sense of who our customers are and what exactly they want.
We can advertise or offer a personalized promotion or discount of a specific product or service to such a specific segment of the market. The market segment could thus be married women aged 30-40 with a small child, to whom it would be easier to recommend a product made for young mothers from our range of products or services. The latter ad would also convert much better. The goal of such offers is to make existing customers feel that they are valuable enough to pay attention to their preferences and needs. If you as a business can consistently provide this experience, it will be much easier for customers to come back and make another purchase.
The right ad at the right time
Advertising these days is based on visitor data. Desktop computers, mobile phones, and other connected devices can provide us with clues as to what makes our website visitors twitch. Such clues can help answer consumer questions. What is important to them and what kind of lifestyle do they live. Accurate insight into analytics data is meaningless unless we can use it to respond at the right time. Accurate insight into the target group is crucial for accurate advertising and is the foundation for relevant and engaging content.
We as advertisers can provide a harmonious and personalized experience throughout the entire sales funnel only when we understand what motivates the consumer to decide on a purchase and what exactly the consumer wants. Precision advertising is a great strategy to engage with existing and future consumers. The key here is to leverage this strategy to grow our satisfied customer base by continuously delivering an optimized experience through the right channels at the right time. The era of mass advertising and promotion using generic content and promotions is long gone.
