When properly used and interpreted, it can let you know how to properly target your advertising efforts to ensure that you only reach customers who are interested in your services and products. As with almost anything, there are pros and cons to BOB. Following are a few of each: PROS 1. Allows you to know your customers very well As the internet continues to open up a wealth of marketing opportunities the need to stay directly In tune with customers’ specific wants and needs will increase twofold. In order to market a product it will no longer be enough to discuss how a product works, but how a product can work for the consumer. . Anticipate the needs and wants of your current clients. You can anticipate the needs and wants of your current clients, and use this Information to base your marketing decisions on the assumption that the needs of your current clients will closely match the needs of your future clients. 3. Increase your productivity. Behavioral targeting is a tool which allows you to increase your productivity without spending much initially. This involves studying the behavior of your average client so you know where to search for them and ensure that your ads are being viewed by this audience.
It also allows you to cut time and costs by utilizing behavioral targeting static and focusing your advertising efforts on your target audience.. 4. Marketing Research and New Innovations It Is a good way to do some research and figure out the kind of people that buy their products; for example, what else are their clients interested in aside from their products. Behavioral targeting also opens new avenues for the advancement of online advertising. Combined with online advertising tools, the result is behavioral and geographical targeting, allowing advertisers to know the exact person most likely to buy their product and at the right time.. . A Win-win situation for both customers are advertisers. Advertisers only want to pay for clicks that are driving sales, and consumers want relevant ads about products or services they actually care about. A study conducted by Preference Central suggests online consumers are growing increasingly comfortable with targeting and retargeting, and suggests that the majority of consumers prefer relevant, tailored ads as a trade-off for quality, free online content. 1 . Expense Behavioral targeting is twenty to thirty percent more expensive than other traditional online advertising strategies. Doesn’t work for all products Usually behavioral targeting is more effective for products that don’t have mass appeal. If your products are for senior citizens, for example, it may be a tad more difficult to find viable viewers. 3. Privacy Concerns When the products and services offered by the company require privacy, a person may be annoyed and offended if he or she receives an email offering him those kinds of items and services. Conservatives call it spying when supposed private information were exposed for the purpose of marketing. Ultimately, it is privacy concerns that armorial cause negative impressions on consumers. . Problems with cookies and surnames. The most common way to track user online behavior is with cookies. They are used to track behavior by observing a user’s mouse clicks. The aim is to obtain enough data to record a user profile and determine his/her preferences, so that ads can be personally served, increasing a user’s purchasing desire. The downside of this technique is that there may be multiple users in one computer, such as in public venues. Furthermore, browsers now have the option of deleting cookies and choosing o prevent some or all cookies from gathering data. 5. Problems with location-based marketing.
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Location-based marketing is not that popular among the majority. Most of us would prefer privacy with our cell phones. Seeing an ad in our cell phone is not a marvelous event. The ad will need to add relevant information to the situation otherwise users will get the feeling of being spammed. 6. Health Risks Caused by Highly Influential Ads. Digital marketing will continue to be a strong force in the society, but it raises concerns about the possible health risks these highly influential ads can do to the society, and especially to the youth and cultural minorities that are susceptible to obesity and health related problems.
If not addressed properly, these emerging digital marketing trends could have a long-lasting unwanted effect on the public health. 7. Uneducated clients. One of the challenges of behavioral targeting is educating clients about it, and helping them understand what it is all about.. 8. Limited Reach. Behavioral targeting is very effective for highly motivated consumers, but consumer preferences change rapidly. Behavioral targeting may ignore potential customers, especially those who need motivation and influence.
As a consumer, I feel as if I respond much better to behaviorally relevant advertising but the flip side of that is that I don’t like the idea of being “tracked” all over the internet. With that being said though, as a small business owner( with an online storefront), behavioral targeting will allow me to study the browsing and purchasing habits of my previous customers in order to predict what my customers will buy in the future. I will then be able to properly target my advertising efforts to ensure that I only reach customers who are interested in my particular services and products.