With traditional methods, businesses are able to track things like traffic, views, shares, bounce rate and engaged time. The problem with these methods is that they don’t reveal anything about who your true audience is and what they care about. They don’t help you translate this information into consumer value. This is where audience analytics and insight emerge into the picture. This approach bridges the gap between the soft metrics which businesses track usually and the audience insights that businesses really need.

So, what is audience analytics and insight? How would this approach help you?

Market precision is associated with the accumulation of intelligence about consumers and this can be achieved with what is called audience analytics and insight. It helps you by providing insights into the behavioral characteristics of individuals, users, and responders who have been exposed or engaged with marketer’s advertising communication. This usually includes demographics (age, gender), interests (in-market segments, affinity categories and other categories), geographical info (language, location), behavior (new, returning, frequency, recency, and engagement), used technology and devices.

Some of the ways which are used to collect this kind of information about the audience are surveys, sales transactions, attribution platforms and third party services. When you have this sort of intelligence on your consumers, you can target the right demographics, you can offer relevant offers, you can remind your customers about the products they have searched or attempted to try or buy and you will know which suggestions may interest your consumers.

Why is Audience Analytics and Insight important? 

When you run a business and wish to succeed and flourish, you need to stay in touch with your customers not only at just one point but throughout the journey – right from the awareness to the point when a customer makes a decision.

Today, audience analytics is about delving consumer information that adds value to your marketing campaign. It helps you drive the real value through a proper audience strategy which combines targeted campaign data, ad serving technologies, media buying channels, third-party data providers and partnership with advertising networks altogether.

Basically, the primary goal is to find intelligent methods to combine these elements in a way that the waste and cost are reduced and only relevant messages, offers and deals are displayed to the right customers. Channeling all these elements is complex but you will be able to get the optimal solutions if you use the right strategy.

So, don’t lag behind and become aware of your potential customers and their preferences when you have the power of audience analytics and insight.