Reporting from Search Marketing Expo (SMX)
One of the first sessions yesterday at SMX was the Retargeting: The New Behavioral Ads. This session focused around understanding how minute in details and data driven serving up display ads across content networks can be. Chris Sherman was the moderator for this panel and he brought up the fact that the FCC is taking a closer look at the process of using cookies and their data to retarget ads to users and the privacy concerns around this process. There could be legislation coming in the future that prohibits companies from using data in this way.
First up on this panel to present was Kevin Lee from DidIt. Kevin's been around this space for quite a while and is one of the people who have a truly deep knowledge of exactly how these networks work with capturing data and then serving up the right ads to the viewer. Kevin focused on the basics of ad retargeting and told the audience that this form of advertising is much greater than thinking of it as just "display ads".
When it comes down to it, marketers have to think about who's cookie pool do they want to use, if you want to be successful because all behavioral search is not the same. Since you want to remarket to your customers and existing site visitors you are going to need a larger cookie pool of visitors to be successful. So are you going to use organic traffic, paid placement traffic, media traffic, direct navigation, affiliate marketing traffic (this can get tricky because you'll have to pay the affiliate when the remarketing works)?
What is the window of opportunity for the buy funnel? The longer your prospects are in market the more opportunity you have to remarket to them, so you need to plan accordingly with your budgets and strategy. But keeping that in mind you also have to look at the "creepy factor" of retargeting along with the "spouse factor" meaning that most computers are shared by a family. Just because we have all this Personally Identifiable Information (PII) does it mean we should use it?
Kevin wrapped up his presentation by pointing out a beginners mistake: be careful with performance deals. Sometimes you are paying for the same lead/order multiple times and data collection systems can kill your affiliate networks. Look for performance marketing agencies who have performance marketing deals that work around attribution modeling and even better, media mix modeling that offer marginal elasticity of ever media option.
Joshua Dreller presented next and posed the question to the audience "What is the main reason why search marketing works so well?" his answer was "Intent." Search marketing is considered by advertisers to be the most effect media channel for reaching consumers who exhibit "intent."
There are challenge though: high ppc prices, scalability issues, maxed out budgets, only being limited to text ads - nothing beats sound and images. This is where ad retargeting can really shine especially when marketers realize that billions of adspace goes unsold every day, and that "cookies" can help you evaluate the ad bids much more effectively.
Nancy Marzouk from Net Mining rounded out this panel on ad retargeting by pointing out some myths:
1. each potential customer that interacts with your brand should be treated equally
2. because someone has been to your site previously they will automatically convert
Qualifying remarketing impressions starts with your site data & standard marketing (based on page views). Page visits are equal to possible interest. Smarter marketing by using advanced audience profiles, look at pages visited, time spent on pages, recency of visits, sequence of products purchased, and search referrals. All equal true interest, according to Nancy, so marketers need to expand their targeting pool based on site data.
Nancy finished up her presentation by pointing out that marketers can't solely focus on ad retargeting, neglecting the other channels (PPC, SEO, Brand Display, and Social Media for example) can be costly. Marketers need to stop siloing their efforts and create more "blended" portfolios.