By some estimates, upwards of 85 cents of every new dollar spent on digital ads today is going to Google or Facebook.
That’s not just a result of the fact that both companies have massive audiences, but also a result of the fact that both companies continue to offer marketers more and more options for targeting those audiences.
‘Data-driven’ is one of those terms which seems unnecessary for marketing. Surely all marketing uses data to some extent, so why does there need to be a distinction?
As marketing increasingly moves to digital platforms, however, the concepts behind the term ‘data-driven marketing’ have become distinguished from more traditional marketing and even have their own vocabulary.
But the pharmaceutical industry’s largest trade group, the Pharmaceutical Research and Manufacturers of America (PhRMA), isn’t targeting physicians or consumers in what could be its most important ad campaign.
As rumored earlier this year, Google has announced Customer Match, a new ad targeting product that gives AdWords advertisers the ability to target their customers through Google Search, YouTube, and Gmail.
That is, there is now some agreement among the social media powerhouses that lookalike audiences are an effective strategy for reaching people on social media who may be interested in your product or service – so they are certainly worth learning more about.