Maximizing Your Marketing with Data Mining & Retargeting
Most people feel data mining is intrusive, illegal and borderline creepy.† Data Mining is inevitable and should be embraced instead of shunned.† Consumers can use data mining to target and retarget clients when it comes to serving their target market the most relevant ads.
They’re very effective marketing techniques, but many consumers view them as creepy rather than creative.
Remember when Facebook was in the news for data mining? Cambridge Analytica created a quiz app to gain access to millions of Facebook user accounts. While both companies claim users technically gave consent by agreeing to the terms, it’s incidents like these that make people afraid of data collection.
As a marketer of your own business, you need to be careful not to let data mining and retargeting scare off your target audience… let alone be afraid to use it yourself. †First Things First…What is Data Mining?†
Data mining is extracting and analyzing data from a larger set of raw data.†
For example, retail stores look at items a customer browsed in order to suggest related products. Mobile providers use data such as customer service interactions to predict who is likely to leave the company (known as ‘churn’) then target them with incentives to stay.†What is Retargeting?†
Retargeting, or remarketing, is a technique to bring people who have left your website or mobile app back to it.†
By using data mining to retarget interested consumers, businesses can be ultra focused when it comes to serving their target market the most relevant ads.
Retargeted users outperform new users when it comes to engagement and likelihood of buying with the logic being if they were on the website looking at that item, they are more likely to go back and purchase if reminded of it later.3 Steps for Successful Data Mining & Retargeting†
If done correctly these marketing techniques can reduce customer acquisition costs and improve conversions and sales. You should:†
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ABOUT THE AUTHOR
Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media, is a Web Specialist, Business & Marketing Consultant, and Social Media Advisor. She works with entrepreneurs who struggle with having the lack of knowledge, skill and support needed to create their online business presence.
If you are new to Social Media and online marketing or find it overwhelming and confusing, my monthly group coaching program, AMPLIFY! Business Academy http://amplifybusinessacademy.com/ is a perfect way for you to incrementally learn the best strategies and tactics to help you grow your business online.