4 Ways How Publishers Can Increase Sales Using Real-World Data
In the digital world, publishers have come to rely more and more on ad revenues for their survival. The digital ad targeting in the last few years have moved away from just contextual targeting to more audience-based targeting. While a publisher may have rich data regarding the user behaviour, they have limited understanding of the user behaviour in other sites and in the real world. In today’s hyper-connected world, access to real-world data helps publishers better understand audience behaviors. This opens a whole world of possibilities which translates into increased revenues across the board.
Traditionally, publishers relied on in-house data and content consumption patterns of audience to ascertain customer behavior. This was the only source publishers put to use to target audience segments. Publishers could only get a glimpse of audience footprints which lacked real customer behavior. This is where real-world data comes into play. Real-world data entails mobility, lifestyle, brand affinity, demographics, income size, visit patterns, and home location. This data strengthens in-house data and gives publishers unprecedented insights into customer attitudes and values. Now publishers could connect the digital footprints of their audience and gain information about their digital and real-world behavior.
Publishers stand a far better chance of attracting advertisers and commanding higher rates if they know more about their audience. Real-world data gives publishers the opportunity for direct sales of display advertising online. With more data in hand, publishers can convince advertisers that their target customers are among a site's readers. Exhaustive information about website traffic which also matches with a certain store or chain, are powerful tools for publishers to better align advertiser’s interests.
For example, a website often frequented by high end jewelry buyers is a great insight that the publishers can use to get more ad dollars to their website.
Audience data is also critical in revealing opportunities for branded content that can often open up new revenue sources without depriving the audience. Positioning audience interest with that of brand’s is far easier when publishers truly understand their audience. For example, Near worked with one of the leading global publishers to help them understand real-world behavior of their audiences. The publisher used insights such as brand affinity, dwell time, propensities-to-visit brands and identify patterns to enable their sales teams to have productive conversations with brands and advertisers.
When it comes to targeting the right audience, publishers can strike gold with real-world data. Combining digital footprint with real world data is a whole new ballgame that raises the ante for publishers. For example, knowing a user visits a lot of web pages about high-end audio systems brings insight, but it may just be “aspirational” browsing. Knowing that same user has visited relevant stores in person is a bigger clue that can increase his potential purchase by tenfold with a strategic placement of an online ad.
Publishers can create purposeful and goal-oriented ads that target a seemingly brand enthused audience for better revenues and actionable outputs.
Better Personalization and Offers
Adding real-world data to online stats generates spot patterns that might otherwise remain a mystery. Audience behavior patterns are immensely helpful in staying ahead of the game. It gives publishers the power to predict user behavior. In other words, publishers might as well know where to place a targeted offer and at what time. A targeted offer is more effective than simply looking for an audience based on the demographics of the assumed ‘average buyer’.
For example, audience who visit a golf site are far more likely to buy premium whiskeys than the average consumer. It could be that paid subscribers to a stock tips newsletter are much more likely to travel to the Far East than the people who only read the free articles.
For brick and mortar stores, offline attribution brings in a wealth of information and gives an effective measurement of advertiser’s online campaigns. Offline attribution is another powerful tool to bring together offline and online data – marketers can have an all-inclusive view of their campaign’s accomplishment across all marketing channels. It is a supplement of data onboarding which is further integrated with attribution platforms to provide the solution in a familiar interface to marketers.
Using real-world data drastically increases the number of data points to work with and efficiently track how successfully advertising has worked. It can even help reframe the importance of a website to advertisers. For example, let’s say a website carried a display ad linking to that advertiser’s online store. At first glance, it might appear the number of orders or click-through was disappointing. However, with the right data the publisher might discover that people who saw the ads were more likely to buy a product when they next visited the advertiser’s retail store.
Also published in MarTech Advisor.