Have you noticed that while you scroll down your favorite web pages, at the corners there are some ads that seem interesting for you? If yes, then you have experienced the effects of behavioral marketing.
Also known as behavioral targeting, behavioral marketing takes into account the previous behavior of users to determine which kinds of ads those users are going to see next. This helps businesses have customized ads and understand which are the main desires and habits of their customers. Understanding how to implement behavioral marketing gives companies the chance to reach more targeted and qualified audience.
What is Behavioral Marketing all About?
Unlike direct marketing, where marketers send the same message to everyone, behavioral marketing uses information about clients and sends the message to those who may be interested. Behavioral marketing uses web analytics, computer apps, search history, IP address for creating user profile of each customer. With this information available, targeted content and ads are generated for interested users.
For instance, people who visit the travelling section of general news site, will see some travel agency ads, low cost travel opportunity ads and as they browse to the other sections of the website, they will start seeing more targeted ads.
Behavioral marketing uses customers’ behavior to shape an awesome marketing plan in a way that is more effective and profitable.
In general, there are two types of behavioral targeting: network and onsite. For example network behavioral targeting places an ad for renting apartments in real estate agency websites, whereas the online behavioral targeting chooses which ads should be displayed to customers based on their recent search history and their interests.
In one of our previous articles (4 Examples of Contextual Marketing and What it Means for You), we presented some of the best examples of contextual marketing that were used by well known companies.
Behavioral Marketing Strategies to Use
Now, when you already know what behavioral marketing is about, it’s the right time to move on presenting 6 behavioral marketing strategies that you should put into context for your upcoming campaigns.
1. Define your behavioral targeting goals
The first and one of the most important parts in your behavioral marketing strategy is setting your goals. Unless you clearly know what you expect from behavioral targeting, you won’t be as successful as you want to be.
When defining the main goals, try to analyze which is the main purpose of using behavioral targeting: do you want to have short term ROI, do you implement it for branding, do you want to increase the traffic of your website, or maybe you want to attract new customers or re-target those who have already been to your website? Clearly defining your main goals will help you easily create customer segments, measure success and set the right expectations for your team.
2. Get the right data
Behavioral marketing functions based on data. Data can be taken from internal sources, for example your company’s CRM (Customer Relationship Management) software, or from external sources, like Google Analytics. Google Analytics is a completely free tool that gives you a huge amount of data for getting started. If you are currently using AdWords, then linking it to Google Analytics is just a must. There are also other analytics programs, like Clicktale and Mouseflow which show you the mouse movements on your website, so you can see where most of your users clicked.
Data is crucial for behavioral marketing and if you don’t have it, then you can’t have behavioral marketing strategy.
3. Follow your customers on social media platforms
Social media has become a lifestyle for a huge amount of people. Facebook has about 2.3 billion monthly active users, Twitter gets 500 million tweets per day and 300 hours of video are uploaded to YouTube every minute. With such huge numbers, social media networks are a great chance for companies to get information about their customers’ behaviors. Thanks to some online tools available, like Tagboard, ManageFlitter, Komfo, you can find those customers whose interests are connected with your business. This means that in a short amount of time, you can find the customers you really need and examine their behavior, interests, preferences and habits.
4. Start tracking
Everybody who brings traffic to your website use tracking codes, which are essential for any behavioral marketing strategy. For instance, there are many companies who have Facebook pages and who get traffic from it, but sometimes they neglect to leverage all the data, just because they are posting links. When you just post a link on Facebook, Google Analytics only tells you the fact that traffic came from Facebook, but when you start using tracking codes, it will tell you much more about the traffic. So, detailed tracking is a crucial part of any behavioral marketing strategy. If you would like to overcome the deficiency, make sure to use Google URL builder and train your team to use it for the next marketing campaigns and social media posts.
5. Create segments
Segmentation is all about putting your customers in different groups based on their behavior, interests, actions and preferences. Defining segments in a way that relates to your conversion goals is considered to be a great behavioral marketing strategy. For example, if you want your customers to buy your products/services, you can define your segments by their behavior and customize the right marketing decisions. For instance:
- First time visitors: show an ad with 30% off
- A visitor from Germany: show ad “Free shipping to Germany”
- Customers who purchased a month ago and again visited the website: coupon with 10% off
- Customers who purchased a month ago and didn’t visit the website: email coupon with free shipping
So, to implement a good behavioral marketing strategy, you need to create different segments and assign different actions to those segments. Try to find out which actions have positive influence and go on repeating them.
6. Define success metrics
Unless you know how you are going to measure success, you won’t know whether your behavioral marketing works for you or not. Try to understand what are the success criteria for you: is it the number of visits, conversion rate, increased ROI or something else. If you have such criteria in your mind, you will clearly see the path of your behavioral marketing strategy and will see the results.
According to Disruptor Daily, 76% of businesses don't use behavioral marketing and those who do use, not always manage it effectively. So thinking of it or implementing just for implementing is not enough, moreover, it will cost you wasted resources. For inspiration, you can get acquainted with Marketo's success example in the same article.
If you think that behavioral marketing should be a part of your marketing strategy, request a free 40 minute consultation with our specialists and they will show you some tips and tricks so your company finds its own way to success.