People Based Marketing: Get To Know the Buzzword
By: Kramer Caswell
One of the hottest buzzwords in marketing today is People Based Marketing (PBM). Similar to Account Based Marketing, PBM takes the ideas of mass campaign distribution through print, media, and digital, then narrows them down to the thing that truly matters in advertising: people. Before one jumps on the bandwagon and launches a People Based Marketing campaign, here are three helpful tips in order to understand this brand new approach.
1. People Based Marketing leverages offline data
Offline data is becoming more and more important for targeting online. With technological advancements towards bridging the tangible offline world with the intangible online world, People Based Marketing approaches are starting to become the most advanced way to target a single individual. Offline data, in this sense, is data based on demographic, geographic, and psychographic traits that have been gathered by in-store purchases, bank statements, credit information, and any other form of identification one has opted into. Data companies are beginning to see the real benefits of collecting consumer information. It’s a cash-cow when selling to marketing firms.
2. People Based Marketing relies heavily on collected online behaviors, called web profiling, which can sometimes be a problem
The PBM idea, in most cases, is reliant on web based information gathered by a user’s online activities, stored within a server, and essentially made into a bidding profile. This information is collected the same way as a cookie, behaves similarly to a cookie, but isn’t exactly a “cookie.” With access to this web behavior profile, it’s now easy to narrow down an individual with offline actions. When pairing these two, some amazing marketing insights can be mapped together. While still keeping the sanctity of the home through privacy fences, Demand Side Platforms (DSP) can now target a single person. Hence the name, People Based Marketing.
However, when you’re dealing in this cookie-like system, some problems can come up. Cookies, or in this case, web profiles, are easily manipulated and run rampant with bot fraud. While visiting websites all day long, your web profile can become filled with invalid information regarding who you actually are in the offline world. If you’d like to see what your own cookie profile looks like, check out Blue Kai. This is a great way to show you what your PBM profile would look like.
3. People Based Marketing is useful when leveraging IP targeting technologies
When done right, targeting a specific person with relevant advertising is the best way to influence a consumer to action. That’s why taking offline data and pairing it with IP targeting is one of the most useful strategies while using this approach. IP targeting doesn’t use cookie or web profiling information, cutting out the fraud and miscommunication one may experience when dealing with these systems. By taking the physical address provided on the offline data list, El Toro’s patented IP Targeting algorithm identifies the IP address associated with that home. From there, People Based Marketing can be achieved via digital banner and video advertisements.
People Based Marketing is becoming the single most effective use case in digital advertising today. El Toro has been a pioneer in this industry, connecting thousands of clients everyday to people. If you’re interested in learning more about El Toro’s technologies and approach to People Based Marketing, we’d be happy to connect!