SRAX releases people-based advertising guide to unlock new ideas in ad targeting across all devices and channels
SRAX, an advertising technology company providing the tools to automate digital marketers and content owners’ campaigns across digital channels, released a new guide, titled “People-Based Advertising: How to Get Bigger Results by Targeting the Most Precise Audience.” The SRAX guide unlocks new ideas on how to accelerate ad targeting strategy through cross-device targeting precision.
SRAX’s guide provides the knowledge and information to invest in people-based advertising, which leverages a range of customer and user data to identify and reach people in the advertising ecosystem.
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Interview with CEO and Chairman Christopher Miglino
SRAX’s CEO and Chairman Christopher Miglino, spoke to MarTech Series about the guide and people-based advertising.
MTS: Would you consider People-based marketing as the new Gold Standard of technology? How do businesses leverage SRAX to capitalize on first –party and third-party data to deliver personalized experiences?
Christopher Miglino: With people-based advertising, you’ll reach real individuals across devices, platforms and publishers. That’s pretty powerful and is easing the problems of a multi-device world.
Every customer we talk to, has some form of unique 1st party data, and often, they’re not even aware of it or don’t know how to access it. Our strength is working with businesses to assess what set of technologies and data will help them engage the audience that meets their marketing goals.
By identifying and diving deep into the information businesses have before starting a campaign, we can identify new opportunities to reach specific people based on social intent, past campaign responsiveness and more.
MTS: What are the standards of measuring the performance of people-based advertising?
Christopher Miglino: Each and every advertiser is going to have their own specific KPIs and objectives, whether it is customer acquisition, brand awareness, etc. Working with clients in multiple verticals, we’ve found that the opportunity in people-based marketing is to not just better reach of specific consumers, but also ones that look just like them.
By integrating predictive modeling you can optimize these audiences to match specific customer actions. We help customers reach that goal.
MTS: How should advertisers include programmatic capabilities to target, reach, engage and monetize their audiences across multiple channels?
Christopher Miglino: Programmatic gives brand marketers and their agencies the ability to use real-time decision making to reach specific consumers.
While it can be accomplished in array of ways, programmatic is one of the most effective, especially across devices and channels. But, in order for programmatic to be truly powerful advertisers need to ensure that their data isn’t stuck in a single channel. Working with a provider who can make insights centrally available for programmatic campaigns is a requisite for omnichannel campaigns.
Key Highlights of the People-Based Advertising Guide
- 33% of respondents used people-based advertising for branding, while 14% of respondents used it for upselling and cross-selling to existing customers.
- Only 14% of respondents used people-based advertising for new customer acquisition.
- Customers are likely to see a brand offering personalized ads created based on purchase history 50% more favorably.
- The report highlights that 83% of media buyers have found that people-based advertising deliver better performance for their clients compared to traditional digital media.
- People-based advertising cuts ad waste by offering better cross-device engagement and improved customer relationship.
Miglino, added, “Connecting with each consumer individually, across devices, platforms and publishers is critically important in today’s digital advertising marketplace. Our People-Based Advertising guide is designed to inform and inspire brands and agencies to unlock the ultimate level of cross-device targeting precision.”
How to get People-Based Targeting Right?
SRAX offered five tips to get maximum return from people-based advertising.–
- Ensure investment into and deployment of technology and processes for real-time data collection across digital and non-digital channels, including call centers and stores.
- Address each customer’s journey across channels and devices with accurate profiling.
- Fuse your data with the customer profiles using the identity graph to establish a unique identity.
- Focus on delivering right personalized messages with instantly accessible data for quick activation across channels.
- Build the right advertising platform for advanced ad-targeting.