In today’s modern world where more and more people are conducting businesses online, the marketing strategies have become crucial to have an edge in the competitive world of online advertising. In a scenario where many similar websites are vying for the attention of limited consumers, it would make business sense for a marketer or advertiser to identify the core group of consumers who are genuinely interested in his products and services. This enables the advertiser to prevent the tremendous wastage of efforts and resources which are incurred while randomly targeting all online visitors irrespective of their needs and interest in the product or service offered by the advertiser’s website. The Behavioral Marketing Concept has managed to bring this advantage of identifying the actual potential consumer within the smart advertiser’s grasp.
The Behavioral Marketing Concept focuses on consumers on the basis of their behaviors on Internet sites, rather than strictly by page contents. Clients who subscribe to the Behavioral Marketing Concept target other clients by aiming advertisements to categories or predefined segments. The advertisements and communication messages are created with information compiled from IP details and click stream data. An Internet user visits various interest pages in a category on a specific website. The user is then targeted by the specially created advertisements via a ROS (run-of-site) placement. Under the Behavioral Marketing Concept, the placement is not the key, but the Internet user’s behavior.
Advertisers and online publishers use the Behavioral Marketing Concept to boost the usefulness of various campaigns. The concept is to examine a consumer’s Internet behavior unobserved and then provide the most significant advertisement based on conduct. Theoretically, Behavioral Marketing Concept aids different advertisers in conveying the advertisement specifically to online users who are probably influenced and interested in the product and service on offer. Tacoda & Revenue Science are two leaders in the markets of Unites States of America, which focus strictly on assisting advertisers and publishers to implement Behavioral Marketing Concept.
Moreover, the big advertisement networks (Microsoft, ValueClick, Advertising.com and BlueLithium) have actually added the implementation of the behavioral marketing concept to their services and are able to incorporate it with demographic and geographic targeting. Google claims it will strictly target the marketing of advertisements based on the details of the particular page where the advertisement is displayed. This particular aspect of the behavioral marketing concept is referred to as Contextual Marketing.
Applying the behavioral marketing concept, in the latter half of 2002, Yahoo initiated its initial version of Behavioral Marketing. The product which also supported European and Asian scoring for visitors was known as “Fusion”. In the year 2003, Yahoo started a redesign initiative for its behavioral marketing profiling technology, known as Behavioral Targeting 2.0. Assorted improvements in visitor scoring, automated categorization, inventory predictions and enhanced reporting were all rolled out over the last several years. When it comes to privacy issues, a number of advocacy groups and online users are strongly concerned around this sort of behavioral marketing. However the advantages offered to advertisers and users will ensure that the concept is around for a long time to come.