Enhancing the data you’ve collected about your recent audience is known as Audience enrichment. Audience data is the information about the people that pay interest to your advertisements or the people that visit your website or those that buy your business products. This is the right kind of audience to target during your marketing campaigns.
You can get audience enrichment right by enriching the first party business data which is the data gotten from people who visit your website or media properties with a third party data, which are those data gathered on other sites or platforms.
Benefits of Audience Enrichment
After creating a rich target audience based on the behavioral data gathered from your website analytics and further separate them into segments, according to their demographics, interest, purchase behavior, and emotional characteristics, you increase the potential of having a potential campaign.
Having more data as an advertiser or publisher gives you a better insight to make a more informed and creative judgment on your marketing campaign. Increasing the known data you have about your audience will help you to build a richer audience profile that will help you to generate tiered retargeting campaigns, and create a better and creative advertising solution for your clients.
What Is an Example of Audience Enrichment?
Although most analytics platforms provide useful audience data to inform campaigns, there are still gaps in these data that can lead to Autonomous targeting and wasted budget.
If we can have a vivid knowledge about these additional audience data such as their income grouping can help the marketer to know if he should display a sale message or a full price. Also, having knowledge of their historical interest could help us to know if our audience is enthusiasts or fair weather fans. Also, age and group will help to determine imagery, color, and tone of creativity. You will be able to create your messaging around your target audience rather than creating a random messaging with the hope your audience will like. Using a data management platform will make your campaign strategy limitless.
The easiest way to improve your return on investment is to start with your target audience. Having a better understanding of your high-value groups will help you to spend quality time in messaging and strategies and knowing that your carefully planned campaign will reach the audience you’ve targeted. Larger data set presents a bigger opportunity, instead of others that may consume your time when using a data management platform. A DMP creates an atmosphere that makes your larger data sets from audience extension more manageable and time-saving. DMP helps in combining first-party data and audience exchange with the purpose of creating a better marketing experience for your customers.