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Thursday, April 23, 2015

Behavioral Targeting – The Good, The Bad, and The Ugly.

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January 28, 2014

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Marketing is a very wide field and every day there is something new to explore. In the recent times, the behavioral targetinghas become one of the most talked about topics with the marketers finding ways to know more about it. If you too belong to the marketing field, it is necessary to be aware of the advancements so that you are able to bring out the best. Let us take a deep insight to what actually is the behavioral targetingand how it is beneficial for promoting your products and services…or hurt your business!
What is Behavioral Targeting?
As the term suggests behavioral targeting is all about understanding the interest of the visitors and targeting them accordingly. The behavior can be studied for a week, a day or even for a fixed amount of time. This study can be based on the interest of the individuals, the browsers used by them to reach the website and many other factors. Based on the different results, the marketers reach to a conclusion and then frame the marketing strategies to target their customers. The overall idea of this concept is to understand your customers in a better way and offer them the desired services.
The Good
If you have an online business, behavioral targetingcan prove beneficial in a number of ways. It not only helps in increasing the conversion and making sure that more people show interest in your products or services. More the conversion rate, higher will be the sales thus taking your business to a new level. High ROI is another advantage which can be obtained by the business owners. In all, you can say that behavioral targeting has numerous benefits and can add a new dimension to your business.
The Bad
Behavioral targeting is expensive to online businesses; usually cost 20% – 30% more than other traditional online advertising strategies. In addition to that, it doesn’t work for all products; you have to look at who your demographics are. If you are looking to target to seniors, chances are, you will get minimal results as it may be difficult to find viable viewers. In addition, behavioral targeting is not the only answer to reach out to potential clients. With potential customers that needs motivation and influence, it is hard to obtain these leads by just using behavioral targeting.
The Ugly
Privacy is one the biggest issue when it comes to behavioral targeting. The data-mining technology used by companies to collect user information raise concerns as to how this information will be used. Places like Canada imposed new rules toward behavioral targeting to protect Canadians from “sensitive’ information being misused online. It is still unclear to what defines “sensitive” information, but it has been noted that ads that target health – related issues, gender, race, or financial informationare prohibited for behavioral targeting purposes. With this in mind, online advertisers will need to be cautious to what they can and cannot promote with behavioral targeting; otherwise, the results from the campaign may be ineffective, costly, and a waste of time.
Conclusion
Next time when you are thinking about using behavioral targeting, think about whether or not your product/service will conflict with ones’ privacy. As an advertiser, you’re looking for conversions, and if behavioral targeting isn’t working out for you, you should try looking into other targeting features such as contextual targeting.    



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