In today's digital advertising world, the main concern for marketers is effectively scaling campaigns while maintaining privacy. This is especially crucial during the holiday season, as it becomes even more vital to establish a connection with consumers. Here are several strategies for digital marketers to accomplish their objectives this year:
- Embrace the utilization of first-party data.
During the holiday season, it is essential to distinguish yourself from the competition amidst the flood of advertisements. An effective strategy is to engage with current customers while ensuring their privacy. Rather than relying on limited third-party data, consider utilizing advanced models that leverage first-party data (1PD).
With first-party data, you gain a more profound insight into your customers' preferences and behaviors. This information can be utilized to create predictive models that precisely identify the online platforms where your customers are most likely to engage during the holiday season. By targeting them with relevant advertisements in these spaces, you can greatly enhance the performance of your campaigns.
Using data directly collected from your own sources for modeling offers the advantage of addressing data accuracy concerns. It has been observed that when importing data into digital platforms, around 40% of the records can be lost, leading to a reduced audience reach compared to what was initially intended. Nonetheless, by utilizing first-party data as the foundation for well-refined models, you can effectively enhance and broaden your reach, identifying additional customers who exhibit similar characteristics to your top customers.
Effectively engage consumers by targeting them based on contextual relevance.
During the holiday season, it is crucial to ensure that advertisements reach the appropriate audience. While behavioral targeting has been the preferred strategy, it has its limitations. For instance, consumers often have to engage in specific activities for a certain period of time to be included in an audience, which can be quite restrictive.
Contextual targeting offers a more immediate and relevant approach. It places ads in front of individuals who are already part of the target audience and are actively engaging with content that is related to your product or topic. For example, consider someone who is researching holiday gifts and ends up purchasing a baby gift. Suddenly, they become part of an audience interested in children's products, even though their interest may have been temporary. Contextual targeting avoids such mismatches by focusing on the context in which consumers engage with content. And this will have a significant impact during this holiday season, as Deloitte predicts that retail sales will increase by 3.5% to 4.6%, reaching a total of $1.54 to $1.56 trillion between November and January.
Enhance campaigns with long-tail media
To optimize your holiday advertising budget, incorporating a long-tail media element into your campaigns is recommended. Long-tail media pertains to specialized websites and platforms that cater to specific interests or demographics. Identifying where your target audience will be active online during the holiday season and prioritizing long-tail media sites can be a cost-efficient strategy.
with long-tail media sites, which offer cost-effective ad placements compared to mainstream options. Utilize a campaign-specific Private Marketplace (PMP) to strategically curate your long-tail media placements and leverage microsegmentation to efficiently reach your audience at a lower cost. By adopting this approach, you can ensure maximum impact for your holiday campaign without exceeding your budget. This becomes crucial as bid prices tend to escalate by 140% during the holiday season due to heightened competition. Secure your targeting strategy and stay ahead of the game.
In the ever-changing digital advertising market, contextual targeting has become a successful strategy for reaching campaign objectives, both during the holiday season and beyond. By utilizing first-party data, targeting consumers based on contextual relevance, and including niche media, advertisers can effectively engage with their audience while also being mindful of privacy concerns. Embracing these methods allows advertisers to navigate the dynamic landscape and capitalize on the opportunities presented during the holiday season. Not only is adopting contextual targeting a wise decision for companies who have mastered it, but it also represents a progressive and privacy-focused future for the industry.