Show your customers what they want to see with Next Best Ad Predictions:
Advertisers in the internet usually show far too little fantasy in generating reactions from their target audience. Yet with Next Best Ad they have the key to targeted and effective consumer engagement.
According to Impulse, today’s most expensive Google Ad Word is ‘outplacement’. Last year it cost just under 58 Euros per click. For service companies who are supporting employers in developing new perspectives for departing employees, this money represents an excellent investment because they are only addressing companies for which this service is specifically relevant.
A case of ‘Groundhog Day’…
Online advertising often produces just the opposite effect where it is of little or no interest to surfers – which means high costs, few clicks and no deal. Yet Predictive Analytics can reveal what a prospective customer is really interested in. He will no longer be repeatedly confronted with the same article (retargeting), but on account of his search-and-click behaviour he will instead be presented with content that he is very likely to want to buy (behaviour-based targeting).
For example, if the prospective customer looked at a lawnmower last month, then it is likely that he has now bought one somewhere else. But that is no reason to give up on him: Via banners on various websites, the vendor would then offers rakes, aerators, grass seed for reseeding and fertiliser according to the time of year. The predictive analysis software determines those offers with the strongest purchase probability by evaluating a customer’s individual behaviour in relation to the vendor’s overall purchase and search behaviour.
Men’s shoes and DIY needs
A self-learning algorithm provides a vendor with an increasingly differentiated profile of an individual user. Additionally, the next best ad software reveals correlations between different product groups that salespeople or marketers would hardly be able to deduce logically.
In addition to promising retargeting opportunities, behaviour-based targeting can boost business with existing customers through cross-selling. An example from the mail-order sector: A purchase of men’s shoes is often accompanied by an order for typical DIY articles. That has to do with the type of purchaser (“whilst I’m at it, I might as well…”). But individual predictions are necessary in order to know what each prospective customer could do with additionally.
Wherever a specific customer turns up in the internet and can be identified, he will be addressed with those offers that are of the most interest to him or that he needs the most. And this relevance will be rewarded – with shopping carts that actually make it to the virtual checkout.