The power of programmatic advertising is that advertisers can precisely target their ideal audience at the right place and at the right time. While this technology is a huge asset to the advertising world, the biggest oversight some brands tend make when running online campaigns is the simple mistake of misjudging their audience.
When an advertiser layers too many (or too few) data segments in an ad campaign, they run the risk of alienating a potential group of consumers. However, there are ways to remedy this common mistake, starting with a well thought out plan, persistence, and flexibility. The first step towards launching an effective digital media campaign starts with a question: How well do you know your audience?
For advertisers, it’s vital to ask yourself: Who is paying attention to your messages and why? What demographic, geographic, or behavioral commonalities exist within your user base? Is your target audience the people who are buying your products/services, or the people who are using them? By examining all available information (website analytics, customer surveys, etc.), you should be able to paint a pretty clear picture of who you’re trying to reach.
Luckily, with Yashi’s platform, advertisers are able to test out different types of audience targeting and work closely with their account manager to adjust settings along the way. To avoid the mistake of misjudging your audience, follow these simple tips to get the most out of your programmatic advertising campaigns.
Test The Waters
To initially identify your audience, think broadly enough to be inclusive of potential customers, but specific enough to ensure you’re not serving an ad to someone who would have no interest in your product. Determine how your products or services fulfill a need or solve a problem for your customer by asking these key questions:
Who is buying our products?
This includes identifying demographic information, such as age, gender, location, ethnic background, marital status, income, and more.
Why are customers buying our products?
This is psychographic information, which goes beyond the “external” and indicates a customer’s psychology, interests, hobbies, values, attitudes behaviors, lifestyle, and more.
With over 20k data segments to choose from, advertisers have more control than ever over who is watching their ad, when and where it’s most effective. For example, if a cable provider wanted to target Hispanic or Asian audiences for a certain program, they could implement Yashi’s Zip Code Lookup feature to target their ads to down to a zip code level and schedule the dayparting feature to pick the time of day the ad would run. If a fashion brand wants to target women aged 18-49 in New York City, they can do that as well using data segments and location targeting.
While these targeting tools are effective, it’s important to select the right combination of targeting strategies that will allow your ad campaign to reach your ideal audience and not leave any potential consumers out.
Adapt and Evolve
Yashi’s platform allows advertisers to create different orderlines to serve different targeting criteria like demographics, behaviors, interests, intents, the time of the day when the ad is served, environmental triggering and more. With so many options for reaching your ideal audience, it can be tempting to layer on different targeting strategies to get the most granular population. However, that’s not always the best implementation.
Keep your orderlines simple and be careful not to combine too many targets. For example, targeting 25-30 year old females who are online between the hours of 2pm-4pm and visit a particular website in North Dakota is simply too targeted. The potential for that exact scenario occurring are slim, and other advertisers might be competing for that opportunity if and when it arises. Narrowing your funnel too much can leave a tiny pool of inventory to bid on, and the probability of filling your impressions decreases. But don’t fret! You can still utilize a ton of different targeting capabilities by creating multiple order lines under the same campaign.
Creating separate orderlines enables you to test different target markets and provides the opportunity to see which campaign is performing best. Not only will you discover which groups are responding to your ads, you can find out which websites they visit, and when they are online most frequently. Then, you can use the data you collect to optimize your campaigns in real-time to enhance your results. You can also use the final results to inform your strategy for future campaigns.
Remember, digital years are like dog years - a lot happens in a short period of time. Continually look for trends, patterns, and possible areas of improvement to facilitate marketing success. Something that was relevant 2 months ago may be null and void today. So make sure to keep track of the data, watch your orderlines and follow the winners.
Interested in learning more about Yashi’s targeting capabilities? Contact a representative and schedule a free demo of Yashi’s platform today.