If put simply, marketing is making a business work by knowing about the customer’s needs and promoting the business in accordance with that. There are various marketing strategies which a business can deploy to promote their product or service to the targeted consumers and in turn generate sales. In the current scenario, a business needs more than just traditional marketing to make things work for them. Web is perhaps the most powerful tool to make people aware about any product or service and this is where online marketing comes into picture. Behavioral marketing, one of the techniques of online marketing, is slowly gaining popularity among marketing experts given its precision in customer targeting. So, it is time we know exactly what is behavioral marketing and why a business needs it.
What is Behavioral Marketing ?
Behavioral marketing, as the name suggests, gauges the consumer’s behavior on web and uses the marketing techniques accordingly. Rather than just flowing a bunch of adverts online to the customers in the hope of fetching few leads, behavioral marketing is quite a precise form of marketing as it makes use of IPs, cookies, browsing and search history and builds a more specific customer database and customize the strategies accordingly.
For Example, if you are visiting a travel site, then with behavioral marketing, you will be shown ads of airlines or if you visit an e-commerce clothing store, you will be shown ads of fashion designers.
In behavioral marketing, the key is the user or the customer not the placement.
Benefits of Behavioral Marketing
Behavioral marketing enables the marketers to reach their targeted audience outside the ambit of contextual based marketing (marketing which is based on the content of the web page visited by the user).
This type of marketing does not depend upon the placement or the content of the web page, its focus is user behavior so it can target any consumer, whether a frequent traveler or an auto buyer, even if the placements or the desired site sections are not available.
Behavioral marketing makes media buying more efficient, less wasteful and in turn less expensive. It enables the marketers to target the right customers at the right location in the right time and during a specific purchase cycle.
In a nutshell, Behavioral marketing is indeed the next big thing in terms of generating genuine leads and can help a business grow by leaps and bounds if put to use in an effective manner. What do you think?