By Vinnie Ma, Senior Director, Product Management
If you want to achieve targeted scale and increase efficiency, look-alike modeling is a necessary strategy for your marketing campaign. This means that, applied correctly, look-alike modeling can not only help you find the best prospects based on your consumers’ behaviors and characteristics, but also boost performance and create more savings. Nowadays, many companies claim they can help you by applying look-alike models to your campaign, so -- when looking for an adtech provider -- it’s not a question of if they are using look-alike modeling. Rather, the question you should be asking is how do they do it?
At Tapad, we have taken look-alike modeling one step further with Audience Magnifier. This technology leverages the Tapad Device GraphTM to model your consumer's online behavior starting from the point-of-conversion and then magnifies it to create dynamic cross-device audiences. This helps to achieve targeted scale and increased efficiency. In other words, Tapad’s Audience Magnifier works better than the traditional look-a-like models. Here’s why:
Building a look-a-like model without a device graph, is like playing poker with blinders on; you’ll be missing some key pieces of information when you have to make a tough decision. Without a device graph, how do you know that you are actually reaching new audiences? Couldn’t it be the same person you already targeted, just on a different device? Also, how can you have a truly holistic view of your consumer without insights on their behavior across every device?
Tapad, powered by The Tapad Device GraphTM can help you identify your consumers across more devices and channels. This way you can understand your consumer's journey and behaviors across their devices and get a complete picture of who they are, which will allow you to go after the prospects who really matter to your brand and they are more likely to convert.
Traditionally, look-a-like models can provide some information of your converters, such as the web sites they visited immediately before the conversion. However, a partner like Tapad can help you better understand your consumer’s contextual behavior, providing information about their interests and intent behaviors across both device and time.
For example, Jenny Craig needed to increase appointment bookings. By understanding more about their consumers than just demographics, such as cross-device behavioral insights (e.g. I don’t like spending a lot on technology and prefer buying an Android phone), they were able to reach a more relevant audience across every device and thereby increase appointment bookings achieving a 74% lower acquisition cost.
Stay tuned for Audience Magnifier part 2 to find out how brands can leverage this technology to create successful campaigns.