Why Knowing Your Audience Is the Key to Marketing Segmentation

Only 2% of visitors convert their first visit to most sites. But using marketing segmentation to retarget that remaining 98% can boost conversions by 70%, according to Invespcro. And it’s much easier to accomplish than you think.

Establish a relationship with your customers using audience analysis

Understanding who you are talking to is the foundation of strong marketing segmentation. Initiate a relationship with your target audience by acknowledging that you understand who they are, empathize with their needs, and have products and services that can solve their pain points. Start by pulling quantitative information about your site traffic such as socio-economic demographics and referring sources, then layer on the behavioral information you can glean from third-party data outlets such as social media and lead forms.

This information will allow you to paint a picture of who your customers are, where they spend their time online, and what they need, so you can use this data to create a flawless marketing experience. Translating this data into actionable insights is the most technically challenging part of the marketing segmentation journey, so we recommend partnering with a trusted digital marketing agency like BIGEYE to get you started.

When all else fails, ask: Using choice-based marketing segmentation 

If you are a small business owner or just beginning to flesh out your marketing segmentation strategy, let your visitors simply tell you who your target market is by having them self-identify. As an example, you may feature a drop-down menu on your landing page that allows visitors to share what industry they are in to receive personalized content or encourage them to opt-in through gated content and lead forms. Once your audience has identified themselves, you can accurately speak to them and provide meaningful content without doing as much upfront audience segmentation work.

Build marketing segmentation campaigns that fit your audience’s needs

Once you know who you are speaking to, begin creating content that is specific, timely, and relevant to your audiences. Use marketing segmentation tools such a retargeted display ads, search, and social media campaigns to ensure your brand stays top of mind and relevant. While hyper-personalization is important, it’s equally important to recognize that site visitors may flow in and out of different personas and audience types as they move through the customer journey or as their individual needs evolve. Work with an agency to find the right blend of targeted content and universally relevant information or use A/B testing to validate you have the right mix.

Qualitative research such as interviews and focus groups might also help you understand whether your content is hitting the right tone for the right individuals at every stage of the marketing experience.

Contact us today to explore how BIGEYE has transformed brands like yours using these powerful tools and receive a free consultation and audit about how to get started.

Decoding a Hidden World by Using a Pharmaceutical Naming Agency

When is the last time you heard someone ask a pharmacist for a refill on N-methyl-3-phenyl-3-[4- (trifluoromethyl) phenoxy]propan-1-amine? How about fluoxetine? The answer is probably more common than you think. While the scientific and generic names for Prozac aren’t particularly memorable, they do provide a revealing look into the byzantine world of pharmaceutical naming.

Many small and medium pharmaceutical researchers and producers don’t realize how important naming is until the FDA rejects their patent and sends years of research and clinical trials back to square one. A pharmaceutical naming agency can help decode the mystery and ensure your work makes it to market.

Why pharmaceutical naming matters

The FDA strictly regulates and subsequently rejects between 20 – 25% of drugs’ generic and brand names to avoid confusion that might lead to misdosing, confusion over a drug’s efficacy, or that might lead to patient stigmatization and privacy violations. Once approved, the naming process continues to play an important role in a drug’s success because a pharmaceutical company may only market their drug under a brand name, rather than a generic or scientific name, once it has been patent protected.

Competing companies may market the same generic drug under a different name to make the market more competitive. While Advil and Motrin are both brand names for ibuprofen, their name, positioning, and marketing plays an important role in which the consumer ultimately chooses.

How a pharmaceutical naming agency can boost your success

The average pharmaceutical naming agency creates between 2,000 – 5,000 names for each drug before beginning the FDA screening process and march to patent protection that will allow brands to compete in the market. A top Florida advertising agency like BIGEYE can help kick off that process by vetting names that may raise flags for the FDA or that will not stand out from the competition.

By partnering with a creative team, your brand can focus on the science and success of your product while your agency ensures your research and work does not get delayed because its name sounds too similar to another drug or accidentally includes the common shorthand for another scientific component.

Contact us today to learn more about how we’ve helped other drug producers enter the market and break through the clutter of competition from big pharmaceutical companies.

 

4 steps You Need to Take to Nail Your Brand Positioning This Year

A staggering 64% of consumers cite shared values as a reason to choose or stay with a brand, which is why clear and effective brand positioning can make or break your organization’s success. Whether you have a strong position within the marketplace, or are a budding entrepreneur building your brand, these four steps will help you nail your brand positioning as you grow.

1. Understand where you’re at today

Partner with a top Florida marketing agency like BIGEYE to audit your digital presence and tell you what’s working and where you can improve. Chances are, how you think you’re positioning yourself may not be as clear to your target audience as you think. Getting a fresh, outside perspective will allow you to step back and objectively confirm how you want to be seen is how your brand is being perceived.

2. Know your audience

Start by creating a mission and vision statement as part of your brand foundation that clarifies who your audience is and what you want to help them achieve. Clearly define how your product provides value and stands out from the competition. Next, set short and long term goals that track your customers’ responses — not just your bottom line. Target specific success criteria such as NPS, engagement, or repeat customers to ensure your brand is resonating with your audience.

3. Learn everything you can about your competition

Identify direct and indirect competitors, then map out their strengths and weaknesses. Think beyond your obvious competition to draw inspiration from related industries and success stories. As an example, an all-inclusive resort might look to similarly priced AirBnB properties, hotels, other all-inclusives, or cruise lines as each of those alternatives offers overlapping features and benefits that the all-inclusive resort hopes to use when engaging their ideal customers. And remember: you can learn something from even your least successful competitor.

4. Create your value-based positioning strategy

Once you know what you’re trying to achieve and for whom, you can start implementing a strategy that will help you achieve your goal. Use your mission and vision statement to create a multi-channel marketing strategy that exposes your brand to your audience at every stage in the customer journey. A holistic brand positioning statement can help you ensure your messaging is consistent across channels and inspires action.

Once you have a strategy in place, you can begin testing what works and refining your brand positioning over time. Contact us today to learn more about how we have helped brands like yours refine their identities and make a splash in the marketplace.

The value of visitor stitching

Harvesting data from visitors to your website has long been one of the most effective ways to understand your audience. It’s also an invaluable tool for calibrating your content to increase its relevance to your audience, and creating personalized marketing messages that can be delivered in a more targeted fashion.
Yet because this is an evolving technology, gaps have remained that have limited the efficacy of data-rich insights. One of the most notable of these roadblocks is the “multiple device problem.” This describes a situation where a single user visits a website using multiple devices — for example, a phone, laptop, work computer, tablet etc.

Because this traffic originates from a variety of sources, it presents a problem in terms of compiling a data-enhanced profile of site visitors. In other words, if you can’t recognize these disparate sources of traffic as coming from a single person, you can’t build an accurate and comprehensive user profile — you’ll have multiple profiles that only show part of the overall picture.

Why visitor stitching is the solution

Resolution of this problem requires that all devices connected to an individual user be integrated into a single, comprehensive profile. While conventional data analytics express multi-device traffic as coming from three different people on three separate visits, there is a technique that resolves this problem: Visitor stitching.

Visitor stitching eliminates the need to manually integrate multi-device traffic (a time-consuming and expensive task) by providing an elegant real-time mapping solution. The technology works like this: Identifiers belonging to an individual (such as email addresses or social media user names) are recognized and then mapped in real time to multiple devices. This creates a new, comprehensive user profile that incorporates all of the data being held in separate, non-integrated user profiles.

Now, instead of a distinct profile being generated for each user every time a new device is used, a single profile contains all the user data generated across every device.

Why visitor stitching offers a critical competitive edge

Data analysis is the key to understanding who your customers are and what motivates them. Fully leveraging data also offers a serious competitive edge, as personalized marketing and targeted offers lead to more conversions and greater consumer loyalty. Data from McKinsey shows that personalized approaches can generate revenue gains of 10 to 30-percent while creating enduring loyalty.

Visitor stitching plays a key role in helping you take full advantage of the power of data. Without the ability to track users across multiple devices, you’re only seeing part of the picture. By creating a comprehensive profile that integrates all visitor data across every device through the process of visitor stitching, you can understand consumers on a deeper level and quickly anticipate their needs.

The takeaway

If you’re not getting the most out of your data analysis efforts, visitor stitching can play an essential role in helping you better understand your consumers. Once you have a clear-eyed grasp on who your audience is and what motivates them, you can deliver highly-relevant, personalized marketing that wins converts and creates more revenue.

 

For more information on how to understand your target audience and effectively interpret your consumer data using visitor scripting, contact our team professionals today.

Why marketing to generation Z isn’t as easy as you think

Most of us might struggle to remember a time before smartphones and tablets controlled everything from our fitness routines and navigation systems, to our budgets and day-to-day communication…but we can still remember. Generation Z, on the other hand, won’t. Generation Z, the age cohort directly following Millennials who were born after 1992, is the first wave of true digital natives. They’re growing up with iPads at the dinner table and Facebook profiles before they are even born. As digital marketers, this may seem like a golden opportunity to attract potential customers before they are even consumers; but getting this generation’s attention might be a lot more difficult than you think. Here’s why.

While the “always on” mindset has made it easier to communicate, learn, and share information, it has also had some unintended effects. The more information we have, the more our minds need to filter out. Many studies have shown that the constant barrage of information, and subsequent choices that go with it, reduce our collective happiness. In Malcolm Gladwell’s famous book on decision making, Blink, he suggests that unlimited options lead us to doubt decisions we’ve made by trading the gut feeling or rationale we originally used for a barrage of “what if’s” and “might have been’s.” Other studies show similar results when patients are faced with too many medical treatment options when investors are faced with too many stock options, when consumers are faced with too many selections at the grocery store, and when eligible suitors are faced with too many dating prospects online. Quite literally, digital natives are spoiled by choice.

Our brains seek to correct this cognitive dissonance by filtering out information faster. Attention spans have become shorter and decision-making has become truncated by the constant mental jump between clicking, reading, watching, sharing, and acting on the information in front of us. As Pulitzer Prize runner-up, Nicholas Carr puts it, “the redirection of our mental resources, from reading words to making judgments, may be imperceptible – our brains are quick – but it’s been shown to impede comprehension and retention, particularly when repeated.” Members of Generation Z likely do not even need to think about the filtering process as they switch between devices or channels, and flawlessly overlook or absorb certain information — but it is changing how they learn and make decisions.

By filtering out larger quantities of information faster, this generation is losing a degree of depth when engaging online. Content that wins this generation’s attention is pithy, memorable, and short … not nuanced, detailed, and thorough. While this isn’t inherently “good” or “bad,” it does present a unique challenge for digital marketers. Video clips, snack-sized content, and catchy taglines that are easy to remember and share are replacing the white pages, case studies, and product catalogs that older generations know and love.

With that in mind, it’s no surprise that one of the best ways to reach Generation Z is through YouTube. According to a recent AdWeek study, more than 95% of Gen Z said they can’t live without YouTube. Of those, nearly 80% said they have a favorable attitude toward celebrity endorsements. In other words, they are looking for someone to tell them which products or experiences to spend their time and money on. In a world with nearly unlimited research potential, sometimes it’s nice to just let someone tell you what the right answer is. And YouTube does that in a very compelling, digestible, and entertaining way. In a similar study by Business Insider, Generation Z ranked YouTube reviews, product demos, and unboxing videos as some of their favorite forms of content, suggesting this insight is especially relevant within the consumer space.

YouTube is one of the most powerful tools for digital marketers when trying to break through the information clutter. To guide your YourTube content strategy, we recommend asking whether your videos pass the “M.I.S.S.” test. Are they: Memorable? Informative? Short? And shareable? These four principles will help craft content that Generation Z will engage with and enjoy. That isn’t to say that your video content shouldn’t also be accurate and insightful. While Gen Z’s attention span may be shorter than previous generations, that doesn’t imply that they don’t have the intellectual breadth or depth to synthesize complex ideas. In fact, it’s quite the opposite. Because Gen Z has grown up with floods of information, they are more adept at scanning for accuracy than previous generations. Fluffy jargon and obtuse information won’t get past these consumers. Use this knowledge as a challenge to distill the most critical information about your products and brand in a transparent, crisp vision of what your organization is all about.

If you are unsure how to boil down your brand value proposition to the basics, or create videos that will delight and inspire potential customers, we’re here to help. Contact us to learn more about how to leverage YouTube to your advantage and attract your next generation of brand enthusiasts. It’s easier than you think but more important than you ever could have imagined.

Programmatic Advertising 101: Why nerdy trends are profitable

What is Programmatic Advertising (PA):
Programmatic advertising tools use complex analysis, forecasting, and regression algorithms to crunch millions of data points to find trends within certain customer groups. Once trends or behavioral patterns have been identified, the tool serves and optimizes content to your ideal audience in real time. As new data continues to be logged, your programmatic advertising spend will adjust accordingly so your advertising dollars are always being spent in the most efficient and effective way possible. Demand software using programmatic advertising input can bid on and serve everything from display advertisements, to social media ads, to videos, and retargeting campaigns. We’ll give that an A+ for mathematics application.

So, What’s in This for My Customers?:

Because PA platforms can track customer behavior, demographics, cross-channel activities, interests, and trends, you are only serving content that is of real interest to your ideal customer base. Programmatic advertising can also optimize content placement based on day, time, geography, and seasonality so your campaigns will reach your audience when they want or need it. That’s right, we said your ads could be both specific and timely. Trust us – your customers will thank you later when they are clicking on your content rather than closing it out.  

And, What’s in This for Me?:

It might go without saying but: the harder your ads work for you — i.e. the more efficient and relevant they are to your customers — the more likely it is they will yield sales. A strong PA program also frees up your team to focus on other initiatives, such as generating killer content or building other areas of your cross-channel marketing strategy. Instead of wasting time haggling over bulk ad buys, trying to analyze your display placement mix, or negotiating with media vendors, PA software does this for you.

Getting Started:

Programmatic advertising isn’t just for “big corporations.” If the IDC’s adoption rate tells you anything, it’s that PA is a universal tool that can benefit any industry, any type of business, and any size operation. With that said, setting up a program that’s tailored to your needs can feel a little daunting if you don’t have an established analytics team. In fact, unless you already have an in-house team who has worked with programmatic advertising in the past, the quickest path to success is partnering with an agency who can get you started. Setting up your PA parameters is the hard part — the software will take care of the rest. To make this easy, your agency will help you define a budget and cross check your content to ensure your first ad bids, and subsequent optimization efforts, are successful and ready to scale for success. When you’re just starting, you will set clear, measurable goals and work with your agency to understand the expected return on investment of a certain bid so you know exactly what you’re getting. Even though PA alleviates a lot of planning pain for your team, it’s important to track and optimize everything … including your optimization efforts. We’re here to help.

Learn more about all the data tools our team recommends and how you can harness the wealth of information customers are freely and happily giving to make content more interesting and engaging than ever before. On our website you can explore our services, read case studies, and get a preliminary evaluation about how programmatic advertising could transform your digital presence today.