The digital and social marketing environment was an advertising-focused model so far but with the consumers gaining the command, the audience becomes the primary revenue foundation.
With publishers transitioning from the print medium to the digital formats, audience-centric business models would fruit more revenue benefits than the advertising model revenue. If you are into digital publishing, it is important to structure and segment audience in order to deliver actions specific to readers with similar preferences and interest.
Let’s understand the necessity of segmentation by an example. Users who are fitness freaks would be more interested in subscribing to the offers and ads related to health and fitness. Also, it is observed that many of the digital users wish to have the information handy but dislike to subscribe.
This is where the audience segmentation work. Knowing the interest and preference of your audience will help you present them with the content, targeted advertising information they are looking for and can bring them back to the site for more related content and they tend to subscribe for more.
Importance of audience segmentation for publishers
Audience segmentation allows publishers to offer targeted audiences for advertisers and grasp higher rates for the ad units. Hence media houses, publishers, and digital agencies are leveraging data from web analytics tools, ad servers, and data & content management platforms.
“As there is an enormous volume of data placed at multiple locations the publishers and digital agencies find it difficult to understand the mass audience. As it is a consumer-driven digital age, it is essential for publishers to concentrate more on individual consumer needs instead of endowing with the generic content.”
Thus, active engagement with the loyal consumers is the sole objective of digital content. The strategy of determining the target audience segment and serving the desirable content is the thing that leads to the growth of the business.
Audience development /segmentation was majorly a part of SEO strategy but with publishers serving their own content from their own platforms, audience segmentation has become a lot more complex. With an understanding of how audience associates with the information and how much time they spend on a particular content, it is possible for publishers to segment the users based on their product and price preferences; and offer with the best user experience by developing products that charm particular segments.
This drives attention to the individual segment and assists publishers to target them for reselling and retention. Although advertising rests as the primary revenue source, the publishers are moving towards upgraded audience metrics in order to sell targeted impressions at premium rates to advertisers.
Audience segmentation can be done by these simple ways:
- Analyse the fundamental set of demographics of your audience such as age, location etc. and based on these the data profile is created with insights like behavior, interest, preference and many more allowing the publishers to serve with the relevant content. Having the targeted customer data in hand, it is easy to design targeted campaigns that drive revenues.
- Analyse the consumer journey and map your product campaigns with them to better anticipate the consumer response and gauge further steps that the user might take. By designing specific content for each step of the consumer journey, publishers can considerably maximize the chance of driving the consumers towards next steps.
- Utilize the in-depth data analysis technique to refine the audience segment and provide them with a more personalized content which is a combination of qualitative as well as quantitative audience data. The audience segmentation helps in resonating your content with the right users. With changing consumer attitudes and behavior, it is expected to serve them with highly tailored and personalized messaging and responsive content matching to their needs.
- Research more on the usage of the audience and this would help you to differentiate your offerings. Have a thorough understanding of the use of your product for a particular set of audience. For example, a single brand producing multiple products for the various audience and conclude that every customer has a different use of a particular product. This is yet another way to segment your audience and also help in identifying a new set of audience segment with similar requirements.
- Look out for what actually engages your audience. For example, if you are a travel or consumer goods company; user recommendations and reviews make a big difference. When you know you have the distinct audience, the key is to understand what works best for them. Have tracking and monitoring system in place to analyze the targeted campaigns, as they are helpful in getting an insight into audience segmentation.
Here’s a couple of Audience Segmentation Tools you can use to get started.
The Way Ahead
If you are looking to aggregate audience data and trying to capitalize on business opportunities such as maximizing advertising revenue, reduced marketing efforts and maximized revenue out of audience segmentation; try to deliver the right content to the targeted audience by using data-driven analytic tools.
Ensure you have segments properly grouped based on data, continuously updating the audience segmentation data as the media industry changes at a fast speed and integrate all the data and campaigns based on audience segmentation for optimal performance.