What are Prospecting Campaigns?
Prospecting campaigns can be described as large campaigns leveraging substantial data sets as well as customer intent or content consumption. This data is taken from online publishers, advertising websites, and social media accounts. The data sets in particular are analyzed by display advertising companies in order to find potential customers who are the most likely to engage with your brand. A great analogy is to think of Prospecting Campaigns as casting a fishing net as wide as possible to try and catch a few fish. You’ll end up catching a wide range of fish, not all will be good, but you’ll catch some big ones in each cast.
What are the Prospecting Phases?
The main prospecting phases are “Become Aware” and “Researching.”
“Become Aware” involves gaining as much exposure as possible and building up learnings that will make it easier to isolate the inventory that is the most valuable to your individual campaign. This is essentially the discovery phase in which you can identify who is converting and who is not. During this phase, your CPM should be low, since there is more inventory available in the exchange.
“Researching” involves creating an algorithm that builds an audience of users who are similar to the ones who convert through your ads. This phase is at its most effective when it delivers CPS results that are somewhat similar to retargeting strategies. A pixel is usually used on the advertiser’s website to build up that audience.
In many cases, your display advertising company (such as Gourmet Ads) can take on the task of implementing these phases.
What Targeting Techniques can be Used for Prospecting Campaigns?
There are a number of different targeting techniques that can be used to master prospecting campaigns.
Audience targeting is one common technique used for prospecting. This method involves targeting very specific audiences, such as primary household cookers, grocery buyers, audiences that are interested in weight loss or diet, etc.
Campaign targeting is one unique technique used for prospecting that can be quite fruitful. This technique is applied in the ad server and can be used on its own or combined with other targeting solutions. Typically, this technique involves frequency capping, DayPart targeting, domain targeting, web browser targeting, etc.
Contextual targeting, also known as contextual advertising, is a prospecting technique in which an advertiser will run an ad campaign that only targets pages of specific content that is contextually relevant to the product being advertising. For example: An ad for apple preserves that sits next to a blog recipe for apple pie would be contextual targeting.
Demographic targeting is probably the most basic retargeting technique out there. This involves uses multiple internal sources and third-party sources to target ad campaigns to very specific audiences based on their demographics. These demographics can include geographical location, gender, age, income, parental status, and much more.
What is the Difference Between Prospecting Campaigns and Retargeting Campaigns?
Prospecting involves any sort of activity where you target individual users who have not visited your site yet, based on research developed around your existing converting customers. Retargeting, on the other hand, targets users that have clicked through ads and visited advertiser sites but bounced before signing up for services or purchasing a product. Retargeting is often achieved by utilizing cookie pools, while prospecting involves the use of pixels and other analytics tools.