This is the summary of an article by Marketing Plan.net. It talks about the history of the multinational firm, business philosophy, pillars of marketing strategy, and pay per click advertising as the company’s marketing campaign black sheep. Here’s the link to the original behavioral targeting article: Marketing Strategies of Amazon.com.
In this Youtube video Jack Myers and Mark Ghuneim explain what the implications of behavioral targeting are and what you should do as a business to use behavioral targeting AND have a good and open relationship with your customers.
Behavioral marketing is the science of studying consumers actions in order to determine what products, topics, or conditions influence their decision to purchase a new product. In short, it is way to present a consumer with conditions that will make a new purchase possible certain, which is why it is a study of psychology and behavioral patterns. For online companies it often includes studying browser habits of potential consumes to discover what makes them buy and what their buying tendencies are. A great example of behavioral marketing is selling popular related items next to a news story that viewers of the story will find interesting enough to click over to.
This information can be very useful to those who wish to save money and time while marketing their products. That is because the aim of behavioral marketing is to search out and find your target audience so that your marketing efforts hit the people who are most likely to purchase your product. You can spend time waiting for your target audience to find you, or you can simply take some efforts to find them. This is because once you know how your consumers shop you know exactly how to advertise where they can see you.
By now you may be wonder what behavioral marketing is, well the truth is that the easiest way to practice behavioral marketing is to hire a consultant team. Online it can be as simple as tracing and watching your customers browsing habits. You have probably already noticed large websites such as Amazon that offer you lists such as their popular customers who bought this also bought X.
This is an example of behavioral marketing in which Amazon takes its data to market additional purchases to customers while they browse. Amazon also utilizes a clever trick when they take their behavioral marketing to the next level and offer higher priced but appealing combination deals to get you to purchase two products instead of just one.
So how can you use behavioral marketing? If you are a large company you probably have an extensive list of product data and sales that you can utilize to figure out what your customers want, which is a good reflection of what your target audience wants overall. However, smaller companies may not have as large of a data collection in which case hiring companies such as Google Adsense, Facebook ads, or other marketing companies that will place your marketing efforts in the correct place for you using behavioral marketing techniques.
With the proper utilization of your data or of behavioral marketing companies you can increase your sales without spending an immense amount of money. And if the current internet landscape is a proper indication of the future, behavioral marketing is simply going to become more vital as time passes. Therefore, it is beneficial for you to jump on board now, or risk falling behind in the competitive landscape of the Internet.
Behavioral Targeting explained with a lot of gestures.
Only for those who love shady webcam youtube videos for the community.
Target Marketing can be defined several different ways, but in general it is the practice of gearing your advertisements or marketing efforts directly to a specific group of consumers who would be the most interested in your product or service. While target marketing employs many other components of marketing such as consumer research, behavioral studies, and market knowledge in general, it is a broad term or concept that can turn your marketing efforts and sales profits around overnight if practiced correctly.
The basic concept of target marketing is to research your audience so that you can proactively find them and present your product instead of waiting for them to stumble upon you. For instance, if you owned a business that specializes in hunting gear you may place advertisements on websites that offer detailed hunting tips or location guidelines. Conversely, you may decide to include this information on your website since you target audience may be searching for it. Thus, your marketing efforts clearly only reach the people who are truly interested in your product instead of a wide range of people out of which only a few may be interested in hunting.
Target marketing is best used alongside consumer research and in the online world along with behavioral research that denotes the browsing habits of those who purchase your products. This is because when you know what the needs and wants of your audience are then you know where to find them when it comes time to producing a marketing project. You can see a great deal of target marketing employed on most major auction sites such as eBay and Amazon when they provide users with related products.
The related products are usually products purchased by customers who looked at the same products as you. Thus, the company targets their marketing efforts to you because based on their consumer research they feel you are most likely to purchase their items. While you can emulate this basic recommendation process on your own website, if you are a startup company your best use of targeting marketing would be to identify browsing habits.
This is because you need to understand how to draw your target audience to your website, and the best way to find them is by identifying locations they already visit. There you can market products or services directly to them. With the astounding growth rate of the internet target marketing is continuing to grow into a very specialized highly marketable skill. If you decide to use target marketing you can find a wide variety of consultants who can provide you with consumer research. That way your target marketing efforts will be most efficient.