17 Mar 3 Ways To Lower Advertising Costs With Audience Targeting
What is one of the most important things to a marketer? Buzzwords like ROAS, ROI, and Conversion Rates probably come to mind as logical answers. There’s a reason advertisers use these terms to talk about and sell their products and services. But arguably, the best answer to this question is a simple one: the consumer.
The key to overall increased marketing efficiency is understanding your target audience and their journeys through your app or website to complete desired actions. And the result of marketing efficiency is increased sales.
So how can you be more efficient with your marketing spend? Advertising technology offers enhanced targeting options in paid media campaigns, which ensures that your ad gets served to the right person at the right time in the right way. Combined with highly relevant, personalized ad copy and imagery, precise audience targeting and audience segmentation cuts spend and increases sales.
What is Audience Targeting?
Before we dig into how audience targeting helps decrease wasted ad spend, it’s essential to understand the term, and when to use it.
Audience targeting is the process of segmenting users into specific groups based on the various criteria. This way you can eliminate your ads from being served to irrelevant users in your DSP or a third-party provider setting. For example, Google’s DSP Display and Video 360 allow you to focus your line items and buy the top impressions that ensure that your campaign messaging reaches an audience that is most likely to convert. You can also target Google’s first and third party lists and users on Youtube and Gmail.
In comparison, The Trade Desk serves strictly as a DSP; therefore, audience targeting happens through a third party. Broad connections to various third-parties enable companies to expand their audience reach.
3 Ways To Use Cost-Efficient Audience Targeting
Precise audience targeting should be an integral part of any display campaign. However, before you set it up, it’s crucial to define your main campaign goals. Are you trying to acquire new customers or those who purchase products or services from brands similar to yours? Or perhaps your goal is to engage users that have previously visited your site? Once you’ve identified your targeting audience, you can increase the efficiency and effectiveness of your campaign by focusing on three key aspects of campaign targeting:
– Show the right ad to the right person at the right time. Demand Side Platforms (DSPs) like The Trade Desk and Display and Video 360 offer sophisticated audience-based targeting capabilities that help put ads in front of the segment of people who are most likely to convert. You can include or exclude specific audiences, with Positive and Negative targeting. You can also include users based on demographics, interest-based affinities, and even type of device. Display & Video 360 offers access to both Google search first-party data, third-parties, as well as Gmail and YouTube users.
– Show highly relevant, personalized ads. While both the Trade Desk and Display and Video 360 offer differing capabilities to manage and build creatives, Display and Video 360 enables you to build both dynamic and data-driven creative that customizes ad messaging based on audience information. You can traffic creative assets and dynamic ads in Display and Video 360, serve them to relevant audiences, and then feed audience, media, and performance data back into Google Analytics. The connected data from your campaigns provides real-time insight into top-performing ads. Then you can reallocate your marketing budget and pin-point underperforming ads.
– Re-engage users who have already purchased from your brand with retargeting. If you have a solid foundation of first-party data, you can run retargeting campaigns and bring your previous website visitors back to your site or those who have purchased from your brand. Retargeting campaigns are a beneficial way to drive increased sales while minimizing spend since you use your own collected data to inform campaign strategy and targeting.
If you’re already a Google Analytics or other Google Marketing Platform product user, its seamless integration allows you to get a full picture of your customers’ journey cross-device. You can also segment your audiences in Google Analytics, and then sync them in Display and Video 360. As a result, you can track customers cross-device and ensure they don’t see the same ad once they have already purchased from your brand. This helps in reducing costs and increasing campaign efficiency and brand loyalty.
How To Cut Digital Marketing Costs With Audience Targeting:
Audience targeting helps advertisers create people-based campaigns that focus on displaying relevant ads to the right users that will likely to take the desired action. With Display and Video 360, you can send audience and performance data back into your Google Analytics 360 account and link them with Google BigQuery. Ultimately, it will allow you to invest in the marketing channels that perform best and serve only custom-tailored ads to your audience.
To learn more about audience targeting in display campaigns, read our other blog post covering the main benefits of Display and Video 360 versus The Trade Desk, and follow us on Facebook, Linkedin, and Twitter for weekly updates on trending topics in advertising technology.