retargeting using social media data
DESCRIPTION
Retargeting is one of the most effective means of reaching and converting visitors to your site, but it's even more effective when augmented with data mined from social media resources.TRANSCRIPT
Leveraging Social MediaSocial data mining and retargeting
Online Marketing Strategies for Travel June 2, 2014
2014 Budget Review
Session Agenda
1) Get to grips with social data mining and intelligently split your segments to communicate more effectively across your marketing channels
2) Learn how to harness social media data and better divide your marketing segments
3) Personalize and retarget effectively: How to leverage social data to reach the right consumer at the right time with the right message (without being creepy)
4) What information are you legally allowed to collect, use and store from social data sources?
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Definitions: Data Mining
“The computational process of discovering patterns in large data sets … the automatic or semi-automatic analysis of large quantities of data to extract previously unknown interesting patterns such as:• groups of data records (cluster analysis), and;• dependencies (association rule mining).
http://en.wikipedia.org/wiki/Data_mining
[email protected] @jon_isernhagen
2014 Budget Review
Data mining by Clustering: flower categorization
http://www.mathworks.com/help/stats/examples/cluster-analysis.html
Fisher’s iris data
2014 Budget Review
Data mining by Association Rules: politics v. beers
http://www.marketplace.org/topics/life/final-note/what-your-beer-says-about-your-politics
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining uses
“Companies are mining the social web to build dossiers on you. Information posted publicly on blogs, Facebook, Twitter, forums and other sites is fair game.”
–Leah Bettancourt, Mashable contributor
http://mashable.com/2010/03/02/data-mining-social-media/
Purposes include: credit judgment, fraud detection, product customization, new customer acquisition, influencer identification/targeting.
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining uses
“[Twitter’s] constant stream of experiences, opinions and sentiments has spawned a vast commercial ecosystem, serving up putative insights to:
http://online.wsj.com/news/articles/SB10001424052702304441404579118531954483974
Product developers, Hollywood studios, major retailers and—potentially most profitably—hedge funds and other investors..” - Elizabeth Dwoskin, WSJ
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining challenges: record sifting
“Companies face the issue of identifying their customers among the millions in any given online community.”
–Chris Boorman, CMO of Informatica
http://mashable.com/2011/02/25/data-mining-social-marketing/
“Dealing with data sets measured in petabytes is a challenge in itself, and there is a serious problem with the signal-to-noise ratio…we estimate that at best, only 20% of the social media data stream contains relevant information.”
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining challenges: record matching
http://mashable.com/2011/02/25/data-mining-social-marketing/
Methods include: • Company participation: “On Facebook…businesses can
gain access to the profiles of anyone who clicks the “Like” button on the company’s business site…”
• Mining + Algorithms: If a company has one or two key pieces of information about its customers — e-mail address is often the most important — that company can accurately identify them on a social site and extract a substantial amount of data
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
How you can mine social data: DIY
Hands-on data mining text, using (free) Python• Introduces social sites• Describes the sites’
uniqueness and unique data
• Explains how to pull and analyze
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining DIY: Twitter
Teaches you how to:• Discover trending topics• Identify retweeters of a status• Identify all followers of a Twitter user• Analyze a user’s friends and followers• Perform tweet frequency analyses• Find the most popular tweets• Search for individual tweets• Harvest a user’s tweets• Crawl a Friendship Graph• Analyze a user’s favorite tweets.
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining DIY: Facebook
Teaches you how to:• Analyze social graph connections.• Analyze Facebook pages• Analyze things your company’s friends like• Analyze mutual friendships• Visualize directed graphs of mutual
relationships.
[email protected] @jon_isernhagen
2014 Budget Review
Social data mining: Vendors
Certified data resellers: 1) Gnip “the world’s largest and most trusted provider.”
a) Very comprehensive set of social media sources
2) Data Sift “the leading social data platform”a) Advanced filtersb) SQL-like query language
3) Topsy Labs, Inc. charts Twitter and Google trends
http://online.wsj.com/news/articles/SB10001424052702304441404579118531954483974
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Resources: The Retargeting Playbook
Articulates complete retargeting strategy and set of tactics:• Setting up your campaign• Segmenting your customers• Optimizing your ads• Meeting specific objectives• Optimizing for Social and
Mobile• Adhering to privacy laws
[email protected] @jon_isernhagen
2014 Budget Review
The “re-” is important, or else it’s just “targeting”
“It was already blue before.”
[email protected] @jon_isernhagen
2014 Budget Review
Definitions: Site Retargeting is…
Someone arrives at your site (often from search)…
…then leaves without buying(or buying enough).
“The Retargeting Playbook,” Berke
[email protected] @jon_isernhagen
2014 Budget Review
Definitions: various “Retargetings”
Term Actually describes
Search retargeting
Targeting display ads based on Google search terms
Email retargeting
Sending e-mail to people who visit your site,or
Using in-message retargeting pixel to dynamically adjust e-mail
Social retargeting
Targeting a consumer based on Facebook “like,”or
Targeting site visitors on Facebook Exchange.
“The Retargeting Playbook,” Berke
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Intent: why retargeting is successful
1) Search engines capture intent to purchase2) Site behaviors also signal intent, but:
a) Shoppers are more connected/distractedb) 71% of the 97% break off before purchasing because:
44%: shipping and handling were too expensive41%: wasn’t ready to purchase27%: wanted to compare prices on other sites25%: product price was higher than I was willing to pay24%: just wanted to save product in cart for later consideration
“The Retargeting Playbook,” Berke
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Campaign Setup
1) Post your privacy policy on all data-collection pages.2) Tag your website to start building lists
a) Each ad marketplace has a JavaScript tag for each page headerb) Verify that the tags are workingc) Accumulate at least 500 visitors before impressions start serving.
3) Create and upload adsa) There are ten total ad types used in retargetingb) Five major types (300x250, 160x600, 728x90, 100x72, 200x200)
4) Launch your campaign5) Segment
“The Retargeting Playbook,” Berke
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Segmentation: Basic
“The Retargeting Playbook,” Berke
Basic retargeting segmentation is driven by intent signals.1) Funnel-based segmentation
a) Number of visits to the siteb) Time on sitec) # of pages viewed (and funnel depth)d) Items added to cart
2) Possible segmentation schemea) All site visitorsb) Viewers of at least one product pagec) Shopping cart usersd) Purchasers
[email protected] @jon_isernhagen
2014 Budget Review
Throttling
1) Use Conversion charts to determine:a) Frequency cap: max impressions a user can see/dayb) Audience duration: how long to keep targeting? (30 days?)
2) Cadence modification: bidding less on successive impressions
3) Segment prioritization: e.g. exclude purchasers4) Inventory management: drop out of non-performing
spaces
“The Retargeting Playbook,” Berke
[email protected] @jon_isernhagen
2014 Budget Review
Presentation Agenda
1) Mining social dataa) Definitionsb) Uses and challengesc) Execution: DIY vs. vendors
2) Retargetinga) Definitionsb) Customer intentc) Campaign executiond) Segmentation and Throttling
3) Social retargeting
[email protected] @jon_isernhagen
2014 Budget Review
Facebook targeting parameters
1) Location (Country, State, City, Zip)2) Age (13-65 or 65+)3) Gender and relationship status4) Precise interests (liked “The Biggest Loser”)5) Broad categories (e.g. small biz owners, Hispanics)6) Connections (target/exclude fans)7) Friends of connections8) Education level9) Likes and Shares
http://socialfresh.com/facebook-ad-options/
[email protected] @jon_isernhagen
2014 Budget Review
Retargeting on Facebook using social data mining
1) Perform social (or non-social) data mining2) In Ads Manager: input your targeted Custom Audience:
a) Acceptable key fields: email address, phone numbers, Facebook user IDs or mobile advertiser IDs.
b) Minimum recommended size: 1K targeted customersc) Format: .csv, single column, no heading
3) Specify Facebook ad targeting criteria4) Observe performance and continually refine
https://www.facebook.com/help/459892990722543/?ref=fbbusiness
[email protected] @jon_isernhagen
Appendix
2014 Budget Review
Retargeting vendor considerations
• Reputation: ethical and successful• Reach: participates on all major exchanges• Technology: owns and operates its own• Flexibility: insertion-order-based and no
contracts/minimums• Transparency: discloses campaign performance• Service: responsiveness• Pricing: dynamic CPMs
“The Retargeting Playbook,” Berke
2014 Budget Review
Ad exchanges
1) Google’s AdX2) Yahoo!3) Appnexus4) AOL5) FBX (news feed and right-hand side)
“The Retargeting Playbook,” Berke
2014 Budget Review
Sample Privacy Policy
“As you browse [company site], advertising cookies will be placed on your computer so that we can understand what you are interested in. Our display advertising partner, AdRoll, then enables us to present you with retargeting advertising on other sites based on your previous interaction with [company site]. The techniques our partners employ do not collect personal information such as your name, e-mail address, postal address or telephone number. You can visit www.networkadvertising.org/choices/ to opt out of AdRoll and their partners’ targeted advertising.”
“The Retargeting Playbook,” Berke
2014 Budget Review
Segmentation
1) Basic (intent-signal based)2) Category-based3) Product-based4) Advanced
“The Retargeting Playbook,” Berke
2014 Budget Review
First-party data: you have access to
1) Pages people visited2) Time on site3) Products viewed4) Purchase history
“The Retargeting Playbook,” Berke
2014 Budget Review
Segmentation
• Cart abandoners• Viewers of specific:– Products– Product lines
• Repeat buyers
2014 Budget Review
Facebook Marketplace vs. Exchange
“The Retargeting Playbook,” Berke
Tool Marketplace Exchange
Funnel focus Demand Generation (upper) Demand Fulfillment (lower)
Bought through Facebook or partners (“preferred marketing
developers”)
Facebook-qualified partners
Sold on Impression basis Insertion basis
Uses data from Facebook (profiles, interests and other actions on-platform)
Your website only(onsite intent data, 3rd party data)
For retargeting? Eventually added Yes
Ad units Almost every type(including sponsored stories, page-post ads: links, videos,
photos, events)
News Feed (static & dynamic)Right-hand-side (static & dynamic)Page-post link ads only on desktop
2014 Budget Review
Data analysis, Old School
http://en.wikipedia.org/wiki/Regression_analysis
Fitting a lineapproximating x vs. y relationship