Behavioral marketing also called behavioral targeting, checks the prior online behavior of users to decide which ads they would like to see again. This involves a higher level of advertisement customization, allowing businesses to understand and utilize the needs and behavior of consumers for targeting specific products to them.
Targeted ads seem exciting to you as they keep in mind your personal preferences to show relevant messages. By understanding the use of behavioral marketing campaigns, businesses can market their products to a more interested audience. Unlike direct marketing where companies send the same content to all the customers, behavioral marketing sends customized messages that instantly interest you. It uses analytical tools, cookies, computer applications, cookies, IP addresses, and browsing history to create your profile. Based on that information, the ad server employed by the website generates relevant and specific messages that appeal to you.
For instance, if you visit an online apparel store, sections of other websites that you visit subsequently will start showing clothing ads. These ads will modify and become more specific over time. Consider social media sites like Facebook where you and your friends share information every day about their interests and likes. This information not only connects you to the ads in your areas of interest but, also creates a compulsion to like or at least view things that other people are so interested in. Behavioral marketing focuses on each user separately and analyzes their responses and demographics to target ads based on each user’s needs and likings.
On the other hand, network behavioral targeting focuses on the type of users. For instance, a user visiting a fancy jewelry site is likely female so, advertising and the look of the ad designed for the female audience. In addition, if behavioral targeting technique is used, the advertiser can further identify the preference of each visitor.
The majority of the big online companies and social networking sites are already using behavioral advertising technique. However, behavioral marketing can do much more than just “targeting a product.” By providing content for specific requirements, businesses provide you with services and products that are not simply meant to satisfy your buying urges but, also improve your quality of life. For instance, a fashion company can make and promote ads that encourage you to use fitness gear that will help you in adopting a healthier lifestyle.
Challenges with Behavioral Marketing
Since behavioral advertising is extremely specific, it is not suitable for promoting products that attract viewers in general. Moreover, given that the personal data of users is being observed, privacy issues might crop up. In order to address these issues, legislation will implement the strategies that the marketers have to bear in mind while moving forward. Nevertheless, when implemented properly, behavioral marketing can prove to be an extremely effective way to reach out to the potential customers with useful and relevant products and services.
Usually, companies that have the access to the required technology can implement behavioral marketing strategies. Companies need automatic platforms such as website visit, CRM (Customer Relationship Management) software, and email analytic tools to capture information. These platforms help companies to determine what do customers purchase and why do they purchase it. The software can identify the number of times a user visited the website and what was he/she looking for. It can also determine which website he/she was using before they came to that site or which site they are going to visit next. In addition, any information posted or tweeted by the user can also be seen using these platforms. Using this information, companies can create behavioral summaries of customers. By instantly creating messages that are aimed at specific customers, the companies can increase the consumer response rate that results in the customers interacting more with the website and enjoying personalized website experience.
A career in behavioral marketing
If you wish to specialize in behavioral marketing, you need to pursue a course in a reputed academic institution offering the said course. While a bachelor’s degree in marketing or business is usually offered by many institutions, there are certain schools that offer sessions in behavioral marketing. A degree in psychology or data analysis will also be helpful in pursuing a career in behavioral marketing.
The entry-level designation for most professionals employed in behavior marketing sector is marketing research analysts. These analysts study customer data and help process and target it for future marketing campaigns. Many people use marketing research analysis profile as their first step into marketing management. As marketing managers, they implement distinct marketing projects and campaigns, collateral expansion, database management, vendor management, and inventory and management.
If you want to obtain an academic degree in behavioral marketing, you have to reach the doctoral level and develop a specific research program that will probably be the topic of your doctoral research. This will also involve academic writing on your chosen research topic. A doctoral level degree will boost your career in behavioral marketing. In addition, you must have excellent communication skills. For this reason, many institutions require marketing scholars to take courses in English writing. The marketing students have a variety of courses such as marketing strategies, market research, and strategic planning, etc. that educate them about different aspects of marketing and customer behavior. In addition, the students need to gain practical experience and gain knowledge from experts in the field.
As technology continues to grow, it is necessary that behavioral marketing students keep up with the latest developments and familiarize themselves. A marketing degree can give you the foundation you need to do well in this fast-changing career stream and give you a head start as you launch your marketing career. Academic writing is an important part of earning your marketing degree and you should take the help of academic writers to compose excellent thesis for your research topic.