Intent Matters: How Media iQ helps you reach ‘Your’ Customer And Not Just Any Customer
Is it possible to please everyone? Or should we target everyone on the basis of ‘one-size fits all’? The answer is obvious. ‘No’.
But by categorizing your target audience wisely and applying the right analytical strategies, marketers can influence the right people all the time, triggering a message that a consumer actually wants to engage with at that moment.
Say for example, you want to target a luxury auto buyer, the general assumption among auto retailers is that their target audience is ‘anyone who owns a car.’ But retailers must know who they are targeting, and why. And a clear, refined target audience gives their content and marketing more clarity and focus, making it more effective.
So how do you go about finding your target audience? The answer is Media iQ’s Intent Audience tool.
Sajan Kedia, Data Science Engineer at Media iQ throws more light on what the tool does and why we built it.
More on MiQ’s Intent Audience
MiQ Intent Audience helps define precisely what audience you want to reach across the web, on any screen, and the information updates in real time. It specifies a target audience for a particular category, or based on user interest. The categories are defined as broad and subcategories. “For example, if travel is the broader category, the subcategories could be defined as air travel, cruise, car rental etc. For each of these categories and subcategories we create audience segments whose interests matches the category in question’’, adds Sajan.
Other than creating specific audience segments, the tool can also generate bigrams (two keywords at a time) for each category, which can be used for URL targeting during real time bidding of ads. For example if a consumer is actively searching for flights, it generates ‘flight and booking’ as the bigram and helps target audiences in that category rather than targeting all audiences who are searching all kinds of bookings online – movie, or doctor booking.
This intelligent tool enables traders and campaign analysts to optimize campaigns and target the most accurate audiences.
The Story Behind its Creation
Earlier, keyword extraction was done manually. Popular keywords were searched either on the basis of instinct, or via SEO. But we have changed that. By diving deep into past data that is stored on AiQ, and using technologies like Hadoop, we extract keywords from the URL.
Then by applying NLP (Natural language processing) the keywords are further broken down to extract the relevant ones, and scored via NLP’s mechanism of scoring. Our algorithm then generates bigrams for each category, which is then used as a matching parameter during RTB (real time bidding). The URLs that contain the targeted bigrams, pools the audience into separate target audiences.
So the key results of this tool are firstly, extracting keywords that are an exact match to a category or subcategory or matching the user’s interests. The second result is the accuracy with which targeting can be done – targeting the right audience increases by 95% with MiQ Intent Audience.
One of biggest challenges the team faced during the build was the vast amounts of data that needed to be processed and extracting the highest scored bigrams. Since the whole process is repeated on a weekly basis, with new keywords being generated and new sets of audience pools being created, handling huge terabytes of data and then applying the NLP algorithm was a challenging task. But with the help of Hadoop’s cluster of 100 machines, data cleaning was faster and easier.
Having said that…
MiQ Intent Audience is a game changer in the programmatic advertising space, taking audience targeting precision to the next level. Though there are a number of competitors with similar tools, the competitive advantage that we hold is the accuracy with which targeting specific audiences can be done. And while third party sources can generate keywords for targeting, unlike MiQ Intent Audience, audience pools cannot be created.
MiQ Intent Audience enables targeting in real time, allowing clients to reach the right audience with tailored real-time content while maintaining strong engagement.
By reaching precisely the customers you’re looking for by creating segments based on their passions, needs and wants, you delight and excite ‘your’ customer and not just any customer.
To know more about MiQ Intent Audience, reach out to email@example.com