Drive demand with segmentation for lookalikes
Choose target audiences that look like your best customers from the data your eCommerce stores collect.
If you do a Google search for a product, hundreds of options show up. However, the question is which one you would go for? Customers are more likely to buy products from companies they have heard about. This general knowledge comes from advertisements and marketing campaigns.
While the concept seems easy, demand generating campaigns require a lot of work and thoughtfulness. The way you target your customers can determine your engagement and traffic scores. People prefer a personalized experience – where they are the center of attention. Therefore, targeting them appropriately is important, especially if you want to grow in the competitive e-commerce industry today. For broad instance, there is no point in advertising a service offered in the United States, to people in Canada. Narrowly, it can be very costly to advertise to those that have opted out.
Customer Segmentation and Look alike marketing
There are two approaches you can take: customer segmentation and look alike marketing. Customer segmentation is dividing your client base into groups based on a number of factors, including geographic locations, age, gender, activity, and preferences. Lookalike marketing refers to using existing customer profiles and assuming that people with slightly matching attributes will also respond to your advertisements in a similar manner. With clear customer segments defined by the data you have leveraging look alike audiences becomes more scientific and cost efficient.
Both techniques can play a major role in improving your performance and helping your business grow. Lookalike audience has shown to have a higher click-through rate of 90% of the time as compared to other audiences. This is clearly indicative of higher traffic from targeted campaigns.
You can use the vast amount of data that your e-commerce website or application generates to look for patterns and divide customers into groups. Once you have your main customer groups, you can assign these categories to the remaining audience through look-alike marketing. This data-driven segmentation can help increase your profit margins by improving your engagement.
The more likely people are to click on your advertisements, the better the chances of you making more sales. Deman gen experts will tell you that it is a numbers came. You can make several advertisement campaigns, each catering to one of your audience’s segment. The clicks on these advertisements can lead to different landing pages, designed specifically for a certain group of people. If your customer finds the products in your demand generation techniques interesting, they tend to dive further into your e-commerce store and buy items.
Numerous big companies, especially those that moved stores on-line early, have employed these techniques to grow their customer base- even through these tough times . Compared to regular marketing and demand generation strategies, a more personalized advertisement is more appreciated by the users. Therefore, if you are an e-commerce store looking to increase your audience, going for data-driven customer segmentation is an optimal option.
If you would like to learn more how we at VIEWN implements these strategies, our platform that can do the heavy-lifting in execution for you. The company offers data-driven customer segmentation and insights to help you grow and drive effective engagement.