DataXu MarketPulse 10: Using Prospecting to Increase the Scale and Effectiveness of Retargeting
Today, we released our tenth MarketPulse newsletter, a regular publication utilizing DataXu’s proprietary data to uncover and reveal industry-shaping trends in digital marketing. This report analyzes data from campaigns across multiple vertical markets to examine the effects of online prospecting techniques when used in concert with retargeting to increase conversion volume.
The full report can be found here: DataXu MarketPulse – March 2012: http://www.dataxu.com/dataxu-marketpulse-prospecting-increases-scale-and-effectiveness-of-retargeting
Advertisers today are faced with the challenge of finding new customers to grow their businesses. Retargeting (showing an ad to a consumer who has already visited a brand’s website or taken an action) is a popular and effective technique for turning browsers into buyers. However, retargeting campaigns typically don’t scale as they are inherently limited by the number of people who visit an advertiser’s website, ignoring a broad universe of untapped potential customers.
One way to identify those untapped consumers is through prospecting – strategic techniques that discover pockets of dynamic demand. With that in mind, we set out to discover: “can a brand drive incremental conversions using prospecting in concert with retargeting?”
We worked with several advertisers running campaigns across automotive, telecom, consumer services, and financial services markets, respectively, and studied the actions of the consumers who converted. We separated consumers for whom retargeting was driven by offline media such as TV ads from those who were first discovered by online prospecting and later closed by retargeting. The team then measured the number of incremental conversions driven by prospecting.
What we found (chart below) was that prospecting drove between 37% and 147% in incremental conversion volume on top of what was already achieved by offline media-driven retargeting.
“As the overwhelmed salesmen of the cult classic Glengarry Glen Ross contend, it’s all about having ‘the good leads,’” said Sandro Catanzaro, SVP of Analytics and Innovation and leader of the Active Analytics Group (AAG). “DataXu’s prospecting techniques identify a high volume of potential customers – ‘good leads’ – and introduce them to a brand. Retargeting works in tandem with prospecting, providing these consumers with the subtle push they need to complete a purchase.”