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Behavioral targeting is a best-in-class strategy for targeting offers to achieve higher conversion rates.
The term behavioral targeting refers to choosing messages and offers for a particular customer (or prospect) based on how that person has responded to what you have sent in the past. The premise is that if you send people offers for products for which they have shown interest, you are more likely to convert them.
To apply this strategy to email marketing, you have to keep track of every response - and non-response - and use this data to build a working interest profile for each customer. Then you have to harness these profiles to drive messaging, offers and content for each and every mailing.
That's what our Propensity-to-Buy (P2B) service does. It first builds a database for you based on the complete set of responses to each of your mailings. The database not only includes positive responses, such as conversions and click-throughs, but also captures non-response information, i.e., those who didn't.
P2B mines this database and applies proprietary algorithms to build a set of interest profiles that include predictive buying behavior, or, in marketing parlance, their propensity to buy various products and services.
These P2B profiles can then be applied to all future mailings. For example, you may be planning several campaigns promoting different products. Instead of your having to determine who is most likely to buy each and then pull the corresponding lists from your customer database, you simply give us your mailing specifications and P2B does the rest.
P2B searches the profiles for people with a high propensity to buy each of the products you are promoting and automatically selects the high-propensity group for each mailing. In this way, you can be sure that the people most interested in your promotions get them. You can also be sure that you don't damage customer goodwill by sending them promotions for which they have shown little to no interest in the past.
P2B evolves automatically with each new mailing so your profiles are always up to date. And you can add external or offline data to the database to enrich the P2B profiles.
Our Propensity-to-Buy lets you use your customers' own behavior to target them with more relevant offers. It's a sure way for you to hit the relevance bulls-eye in every email marketing campaign.
For questions about Behavioral Targeting, please contact a Boomerang sales representative at 1-800-779-7792 or sales@boomerang.com.
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