As much as we marketers want to use better, smarter ways to reach out to and engage our customers, marketing from defined lists is still part of the equation. When you need to target a precise audience in a cost-effective way, working from a list of specific customers or prospects is the way to go. You can show them the ad or deliver the message you need that will get them to convert:
- Make a first purchase
- Subscribe rather than make a single purchase
- Renew rather than churning
The list of uses goes on. But the question of how you first assemble and then maintain or update the list starts to bring up additional costs for the process. What if someone takes the desired action, then gets an irrelevant (or worse, annoying) message or experience? What if they move on to a new job and your service is no longer relevant?
Those costs come out of your brand equity. If you’re perceived as demanding attention for irrelevant, poorly timed, or inappropriate marketing messages, your brand suffers. And if you’re using static lists, you’re inevitably going to be delivering irrelevant, poorly timed, and inappropriate messages to your customers and prospects.
But at Lytics, we’re doing our part to make static lists a thing of the past. With Predictive Audiences, you can make dynamic lists that update based on the lookalike audiences you create and then use them to deliver truly personalized experiences across your digital marketing channels: ads, web experiences, and email. The benefits are clear-cut.
Benefit #1: Predictive Audiences’ lists are always up-to-date
The most obvious benefit of dynamic lists is right there in the name–they’re dynamic. They’re always evolving. We can all understand why static lists get stale. People leave jobs or roles. They purchase one-time items (like cars, B2B software, a mattress) that they shopped for at one point in time. They might move, get married (or divorced), or decide they’re not interested in a topic anymore. But if you’re using a static list, they’ll still receive experiences that are no longer relevant to them.
By building a list based on a lookalike audience, you’re taking advantage of Lytics’ ability to collect and interpret behavior data in real-time. As prospects or customers display interest in a topic (or otherwise start to closely resemble the target audience), they will automatically become part of the lookalike audience and start receiving appropriate experiences. Conversely, if they stop sharing characteristics or otherwise display that they’re no longer interested in a given topic or product, they’ll automatically be removed from the list by virtue of no longer belonging to the lookalike audience.
Benefit #2: Predictive Audiences’ lists are more inclusive
Many if not most lists are segmented based on historical or demographic data that holds little predictive value. Whether a customer once bought a product may indicate a likelihood to purchase it again… or it may not. They might not have liked it, or have just been curious. Being male or female may indicate a likeliness to purchase a product, but basing a list on gender would necessarily exclude people who are planning to buy it as a gift.
By basing a dynamic list on a lookalike model in Lytics Predictive Audiences, you’re relying on behavioral and affinity data rather than historical or demographic data. These data capture indicators of intent, which has more predictive value in terms of what a person is likely to do. Your marketing messages or content are far more valuable and relevant to these audiences (increasing your brand equity) even if they choose not to act on them. And by being targeted toward an audience displaying intent, they’re much more efficient in terms of influencing the outcomes you want to see.
Benefit #3: Predictive Audiences’ lists can be used more widely
A final benefit of the lists you create in Lytics Predictive Audiences is their portability, meaning that you can use them across your marketing technology stack in real time automatically. Since Lytics integrates with execution tools for website, email, advertising, and mobile (among others), customers and prospecs on your dynamic list will receive all the appropriate experiences wherever they are. There’s no requirement to update lists across platforms every time there’s a change or to import and export lists in multiple formats.
While static lists have served marketers well for a decade or two, they’re no longer aligned with the experiences customers today expect. Find out how you can use Predictive Audiences to build lookalike models and dynamic lists by requesting a demo of Lytics smart CDP today.