Behavioral marketing is using customer behaviors to shape your marketing plan in a way that is most effective based on those behaviors – and ultimately increases profit.
There are two types of behavioral targeting, network and onsite. Network behavioral targeting builds a general demographic and profile of targeted users. This is like placing an ad for cat food in Cat Fancy. Onsite behavioral targeting tracks user behaviors and interactions with your website or product and then customizes interactions with them. This is like choosing which ads will be displayed to customers based on how they interacted with your business and who they are.
A good behavior marketing strategy has three key elements – extensive data acquisition, data tracking, and segmentation in relation to conversion goals. Tapping into the power of behavioral marketing can give your business a staggering boost to your marketing results.
Behavioral marketing relies on data. In order to reap the rewards of behavioral marketing, you’re going to need all the data you can get. Data can come from internal sources, like your own customer database and external sources, like Google Analytics. A good strategy is to prepare to record as much data as you can so that you can use it at a later date to make marketing decisions.
Google Analytics is 100% free and can give you an impressive amount of data to get started. If you use AdWords, linking AdWords to Google Analytics is a must. There are also analytics programs that track mouse movement on your screen as users browse to create “heatmap analytics” or more specialized analytics programs for e-commerce.
For internal analytics, you need a strong database that parses your data into events linked with users, and not just a disorganized log. Each user can have not only traits, but a log of their actions. An experienced data manager can write queries that will give you updated information and can even provide you with a list of emails to target based on user behavior.
Pro tip: Hire an expert for set-up if you’re struggling – it’s one-time job worth doing right.If you don’t have data, it’s impossible to implement any behavioral marketing strategy.
Track, Track, Track
Everyone who brings traffic to your site use tracking codes, which are a boon to behavioral marketing. For example, most businesses have Facebook and get traffic from the site, but many neglect to leverage all the data from this traffic because they’re just posting links. When you post a link on Facebook, Google Analytics tell you only that traffic came from Facebook unless you use a tracking code. Another example is with affiliate traffic. You’ll want to use more than just the affiliate number to track – you’ll want to know what campaign and which ads brought the traffic. Detailed tracking is a key element to any behavioral marketing strategy.
Pro Tip: Use Google URL builder to overcome this deficiency and train your staff to use it for every marketing campaign and every social media post.
Divide and Conquer
Segmentation is dividing up your consumers into different groups based on behavior or actions. A good behavioral marketing strategy is to define your segments in a way that relates to your conversion goals.
Let’s say your goal is to have consumers complete a purchase. You can then define your segments by their behavior and then customize marketing decisions. For example:
- First time visitors who browsed and did not purchase → Show ad with 20% off
- Repeat visitors who have never bought anything → Show ad with 10% off coupon
- Any visitor from Canada who did not purchase → Show ad “Free Shipping to Canada”
- Users who abandoned shopping cart → Pop up with limited time free shipping
- Customers who made a purchase more than a month ago and have visited the site since → Email coupon with 20% off
- Customers who made a purchase more than a month ago and have not visited the site since → Email coupon with free shipping
Pro Tip: Focus on your conversion goals and experiment. Figure out what actions have a positive correlation with conversions and repeat those actions. Determine which actions have a negative correlation with conversions and try something else or give up on those customers and put your resources elsewhere.
So what is a good behavioral marketing strategy?
A good behavioral marketing strategy brings your business the results you want – and it’s not easy. You must build yourself a strong base to build on by setting up your analytics & tracking properly. Your business has to define its conversion goals and which behaviors relate to them. If your ultimate goal is to reduce costs and increase profits, behavioral marketing is a must.
AdClarity is a Marketing Intelligence tool which provides online marketers with actionable insights about their competitors’ advertising activities. Driven by big data and proprietary behavioral content discovery technology, AdClarity unveils brands’ campaigns, ad creatives, impressions, and spend data across multiple channels, including Display, Mobile Web, Mobile Apps and Video. Data is collected across 20 geographies and covers over 50M URLs daily while discovering over 40K new campaigns every day. The AdClarity product suite is used by over 7,000 media and advertising professionals globally in Fortune 500 Brands, Agencies, Ad Networks, and Publishers.