Reflecting on my time at #CIMC2017, one takeaway word persistently surfaces – people. But why would “people” be the takeaway message in a conference highlighting all of the hottest technologies, marketing tools, and trends? Because when it comes down to it, “people” are at the root of any effective marketing strategy – and “People-Based Marketing” is hot off the starting line since it’s conceptual launch at Advertising Week 2014 – making its mark within the world of digital.
In quantitative terms, Facebook’s Vik Kambli explained People-Based Marketing as being one-part targeting, two-parts ads, and three-parts measurement. People-Based Marketing is an approach that focuses on accurately reaching consumers in an increasingly mobile world by combining philosophy and practice – helping brands target the customers they already know more most likely to convert. Atlas by Facebook claims that “consumer attention is more fragmented than ever before, [and] with mobile and cross-device traffic growing by the week,” the ad technology we have grown to rely on is now becoming outdated quicker than we think. During his CIMC talk, Kambli explained how Facebook is choosing to shift to methods that matter in the current “cross-everything”/omni channel world – by using people-based data, measuring metrics that matter, and comparing across everything.
In qualitative terms, People-Based Marketing is materialized first and foremost by great content. Great content must be delivered through appropriate mediums to then create compelling customer experiences (whatever the industry may be). It’s crucial to understand your clientele and their customer journey – where they are coming from, and why they are coming to you and your brand. People based marketing is essentially about “getting what you want without asking and at the perfect time”. As Spotify’s Global VP Partner Solutions, Danielle Lee puts it, “with people-based marketing, you have greater assurance that your message is reaching your known customer and driving measurable results”.
We are at a crossroad in the marketing and advertising world, where the only way to stay afloat is by following the expectation that you as a company are your client’s partner at every stage of the consumer journey. Here are just a few stats to prove it:
- Among brands that have deployed people-based advertising, 86% in Australia and 83% in North America report People-Based Marketing has outperformed standard campaigns
- Sixty percent of North American and 75% of Australian advertisers report improved click-through rates with people-based marketing
- Using the Facebook’s Atlas tool, The New York Times influenced 2.3 times more people to subscribe, while the cost of gaining a new subscriber was reduced 25%.
So then what are you waiting for? Is it time for you and your company to make the shift over to People-Based Marketing techniques? We want to hear from you! Let us know what you think!