In the past, the most information that advertisers and product promoters wanted to know was your area of residence and your age. However, in the modern marketplace, that information has almost become irrelevant. Modern advertisers and media companies can use information of nearly all the attributes of any viewer. Technology has enabled advertisers and media companies to collect information from all digital devices and platforms. These tools include tablets, smartphones, laptops, television, and desktops.
The product promotion firms then go ahead and distill the data into specific groups of data. These data groups may be in the form of “working men below the age of 50, who play tennis and live in the Southwest”, or “women age 20-25 who watch Single Ladies and use PayPal to pay for online transactions." This information can help advertising cater to the consumer and increase engagement. This is only successful if done in a way that improves the brand’s relationship with the consumer.
Be aware of the role of digital technology
You can be sure that product promotion firms know you exceptionally well thanks to the milestones that have been made in digital marketing and technology. These digital advancements ensure that companies can target advertisements that are customized especially for you by using process streams. For instance, an advertising company may target a customer who needs an accounting software utilizing an article about the software and an offer to buy it. This form of ad personalization optimizes the performance of ads substantially. However, there are more significant challenges involved when it comes to big data. Engaging target advertising may turn off potential customers or even freak them out.
Be aware of the negatives
Target advertising should not feel like a hunter stalking his prey. Anyone who has ever searched something on Google, or purchased a product on Amazon, only to see the product the following day on target ads becomes irritated. Some of the consumers have even become so paranoid that they have the belief that Facebook is listening to their conversations and making ads out of them. The misconception grew and spread so fast. Facebook executives had to come out in public to deny the rumor. However, some of the digital tools currently in use such as smart speakers may not be entirely exonerated.
Avoid creepy personalization
You can avoid personalization when your ad target openly and transparently. Some social media platforms such as Instagram and Hulu will regularly ask their users about their preferred ads. When advertisers fail to understand their product, experts warn that ad targeting may not be of much help. For advertisers, self-reported data is a better place to begin rather than the kind of personalized data that scares away consumers. Customizing ads by explicit solicitation of information is the way to go in ad targeting.
Understand your brand
Some firms have the hope to use big data obtained from the internet as their magic bullet to success. However, this will turn out to be a failure if the companies fail to understand their product. This is in part because brands are emotional while personalization is always transactional. A company should invest its time and resources in familiarizing their sales staff with their brand. Many advertisers are becoming increasingly lazy because they have so much information about their potential consumers that they don’t have to put in as much effort to advertise. However, consumer's might lose interest in the product or the think brand is no longer good enough. When this occurs, no amount of ad targeting will ever convince them to purchase.
To wrap it up, Brands should avoid relying too much on big data entirely and instead focus on how it can enhance their advertising. Companies need to ask themselves whether big data is a useful target marketing technique. Ad targeting should also inform and engage potential consumers. Experts advise companies to not only think about reaching their target audience but also think why they want to target them. Firms should also learn to use big data not only to their advantage but to the consumer's benefit as well.
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