Using Predictive and Programmatic Together
Another one? Seriously? How many articles did you have to read about how cookie-based targeting is better than IP targeting, and IP targeting is better than cookie targeting? Maybe the right answer is much easier – They’re both important aspects of a well-rounded marketing plan.
Where do they fit?
At MRP however, don’t call it IP targeting. IP is a technical term. In the context of B2B, the use case for IP targeting is account level targeting. You can also use IP address for consumer level geographic targeting, but that is a very different use case particularly popular with political advertising.
We look at account level targeting as a broader approach to targeting messaging across the entire buying center at an account. This allows you to reach not only the decision maker, but influencers in that decision-making process. For example, when we at MRP look at investing in expensive hardware to run Prelytix, our head of product might be the one conveying requirements, negotiating with the vendor, and ultimately signing the contract, however, our CFO and VP of Finance are involved in budgeting, our CTO is involved in interoperability and security, our CMO wants to make sure it provides a seamless customer experience, etc. Traditionally, marketing organizations would focus on our head of product and address their needs, but under that traditional marketing paradigm, you’d be ignoring everyone else in the give and take relationship when making such substantive decisions.
On the other hand, when you focus on cookies, or what MRP considers persona based, you have the opportunity to focus and tailor your messaging to an individual. While there are influencers in the buyer journey, that head of product is most likely driving the process and controlling the information and messaging reaching the influencers.
When using cookies, you can use your own cookies through a retargeting pixel or leverage 3rd party cookies to narrow down to a persona based on various demographic, firmographic, and affinity level targeting. One important thing to remember when targeting cookies, you never actually know the actual person you are targeting, just what can be inferred from those cookies.
Bringing it together
So how does MRP do it? Firstly, we understand what your ideal customer profile looks like. We create a model based on firmographic and demographic profiles of accounts. Moreover, we also look at account level insights and create look-alike models to narrow the account profile even further. We uncover various levels of content consumption and are able to prioritize and target accounts based on that broader messaging.
Concurrently, we work with our clients to build out the persona profile based on who you sell to in order to create an audience segment. Together with the account-based profile, we can narrow the targeting to specific personas at specific accounts. This opens the door to a tremendous amount of possibilities in personalizing messaging, aligning with sales, and driving an efficient marketing spend. Research from Adlucent found that 71% of people surveyed prefer ads tailored to interests and shopping habits, and further found that respondents were almost twice as likely to clickthrough an ad featuring an unknown brand if the ad was personalized.
Closing the loop
With all the benefits display advertising brings in targeting, personalization, and cost, marketers need to remember that display is just a piece of the marketing puzzle. Display provides a lot of air cover and supports much of the existing activities in market. We have found that when display is part of a well-rounded marketing program, we see the impact of display measured through the improvement of other tactics. For example, MRP sees a 34% increase in average lead value when display was served to an account. Furthermore, we see an account is 3.2 times more likely to open an email when display is served and 5.4 times more likely to click through email. Time and time again, whenever display is served to an account, we see better direct mail response rates and even more traffic to the website.
You can’t measure the ROI of account based display purely from direct conversions. This is the last click mentality. What you need is a strategy which can tie display metrics back to other channels, pulling it outside of its silo. Learn how to tell the impact of your display program by downloading MRP’s latest whitepaper today: Account-Based Advertising In An ABM World.