Social retargeting is a display targeting technique that I use for a variety of clients, including retail, personal finance and travel.
The basic principal comes from a study done in the 1980's of telemarketing. Back then it was possible to buy the phone numbers that newly converted customers called most often from their home phone line. The marketer would not be able to call those people and say "your friend Jenny just bought xyz...", but even when dialled anonymously, they saw a 6 times uplift in conversion rates.
Why?
Well as humans we tend to group ourselves together on things like education, geography, income, kids, hobbies, passions etc - birds of a feather flock together.
Listen to the Womma webinar that I did in partnership with Kathy Leake from Media6Degrees where we explain what social retargeting is and discuss some case studies:
ROI is Achievable in Display with New Techniques such as Social Retargeting
View more presentations from Word of Mouth Marketing Association.
There was also a panel yesterday at SES Chicago where we discussed how display is evolving to look much more like search, and this is happening because of the creation of the media exchanges. Without this evolution, social retargeting would not be possible.
Search Becomes the Display OS"The increasing marginal returns of search advertising are now doing more than taking market share from display advertising, they are en route to becoming display advertising's operating principle." —Scott Rafer, CEO LookeryMatt McGowan, VP & Publisher, Incisive MediaJonathan Mendez, Founder & CEO, RAMP DigitalDax Hamman, Vice President of Display Media, iCrossingSteven Kaufman, EVP, MediaMath
There is a write-up and photos on the Bruce Clay blog of this panel, and some interesting commentary on social retargeting - be sure to read my clarification comment on their blog post!
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