Predictive Marketing and Advertising | What Is It?
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What Is Predictive Advertising?
Predictive Advertising is the process of first collecting data on consumers and potential consumers’ behaviors and activities from a variety of sources. This data is then combined with individual characteristics within their profile data. (age, where they live, what they like, etc.)
This data is then distilled and interpreted, often automatically, by sophisticated algorithms, from which a set of predictions are made.
Based on this sophisticated data, advertising strategies are then deployed to deliver relevant communications which offers to consumers relevant messages. These messages are designed to engage consumers with a business in such a way which inspires engagement and conversation.
Predictive Advertising allows you to specifically advertise to the needles in the haystack, allowing a much more efficient ad spend, thus resulting in a higher ROI.
he answer lies in predictive advertising. Also known as “inference advertising” or “anticipation marketing,” predictive advertising enables brands to make advertising decisions based on not just one particular piece of data (i.e., a user visiting the company website), but on a wide range of information comprised of several different attributes and factors. This robust data science offers actionable predictive analytics that can help advertisers accomplish the coveted objective of serving the right ads to the right audience, at just the right time. Through advanced data analysis, companies can now build a profile of their target audience that includes key insights based on behavioral, environmental, socio-economic and psychographic information. This data informs the advertising process, resulting in increased conversions and decreased costs.
So what’s next for predictive advertising? Savvy brands are beginning to use their retargeting data to build model user profiles based on proven historical data; this is known as “look-a-like” targeting, and is frequently utilized in predictive advertising. Many industry analysts claim that the science of machine learning will help to automate the optimization process for predictive advertising campaigns. Right now, manual optimization is more the exception than the rule for most advertising campaigns, but with further technological development, the day may come where the entire predictive advertising process (including pricing, targeting, etc.) will be 100% machine-driven, and able to be scaled across several millions of impressions within seconds. As data science continues to advance, predictive advertising will continue to become more prominent, and perhaps eventually indispensable to the online marketer.
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Predictive Marketing and Advertising | What Is It?
Buy my book today! http://bit.ly/bestbrandingbook
Check out my Podcast: https://anchor.fm/caffeinated-content
Contact me: http://www.edwindearborn.com/contact/
Connect with me on LinkedIn: https://www.linkedin.com/in/edwindearborn/
What Is Predictive Advertising?
Predictive Advertising is the process of first collecting data on consumers and potential consumers’ behaviors and activities from a variety of sources. This data is then combined with individual characteristics within their profile data. (age, where they live, what they like, etc.)
This data is then distilled and interpreted, often automatically, by sophisticated algorithms, from which a set of predictions are made.
Based on this sophisticated data, advertising strategies are then deployed to deliver relevant communications which offers to consumers relevant messages. These messages are designed to engage consumers with a business in such a way which inspires engagement and conversation.
Predictive Advertising allows you to specifically advertise to the needles in the haystack, allowing a much more efficient ad spend, thus resulting in a higher ROI.
he answer lies in predictive advertising. Also known as “inference advertising” or “anticipation marketing,” predictive advertising enables brands to make advertising decisions based on not just one particular piece of data (i.e., a user visiting the company website), but on a wide range of information comprised of several different attributes and factors. This robust data science offers actionable predictive analytics that can help advertisers accomplish the coveted objective of serving the right ads to the right audience, at just the right time. Through advanced data analysis, companies can now build a profile of their target audience that includes key insights based on behavioral, environmental, socio-economic and psychographic information. This data informs the advertising process, resulting in increased conversions and decreased costs.
So what’s next for predictive advertising? Savvy brands are beginning to use their retargeting data to build model user profiles based on proven historical data; this is known as “look-a-like” targeting, and is frequently utilized in predictive advertising. Many industry analysts claim that the science of machine learning will help to automate the optimization process for predictive advertising campaigns. Right now, manual optimization is more the exception than the rule for most advertising campaigns, but with further technological development, the day may come where the entire predictive advertising process (including pricing, targeting, etc.) will be 100% machine-driven, and able to be scaled across several millions of impressions within seconds. As data science continues to advance, predictive advertising will continue to become more prominent, and perhaps eventually indispensable to the online marketer.
Please subscribe to my YouTube channel.
Predictive Marketing and Advertising | What Is It?
