Identify the Problem, Be the Solution
As one of the most visited websites on the Internet, Yahoo! provides advertisers with access to a massive pool of potential customers. Display advertising, a sector in which Yahoo! provides unparalleled results, allows companies to capture the visual attention of viewers in a manner that text advertising simply cannot.
Companies pay hundreds of thousands of dollars to advertise on Yahoo!’s homepage, and they expect results from this large investment. To meet the goals of the advertisers, Yahoo! pairs users with advertisements that are specifically tailored to their demographic. This targeted advertising provides users with more relevant, more effective interactions on the web.
Beyond ads targeted at various demographics, advertisers look to provide users with contextual ads that are relevant to the time period. During the holiday season, the Yahoo! homepage carried large display ads catering to the desires of consumers to obtain massive shopping savings. Now that the holidays have come and gone, the content of the advertisements have shifted.
TurboTax, a company that specializes in at-home tax servicing, has identified a customer need/problem (maximum tax refunds at the lowest price), developed a marketing plan that addresses that need, and provided them with a solution. By doing this, they have tapped into their customers’ hierarchy of needs, satisfying them in a way that the company’s competitors cannot. Of course, not every visitor to the Yahoo! homepage will witness the animated advertisement and immediately become a TurboTax customer. However, the association these viewers will (hopefully) retain may connect TurboTax with tax savings and maximum tax refunds, leading to potential referrals or recommendations.
Identifying and addressing customer needs is the key to the success of any marketing campaign. To accomplish this goal, companies must perform market research and target their advertisements toward specific segments of the consumer market.
Posted on March 27, 2010, in Uncategorized and tagged Demographics, Display Advertising, Holiday, Homepage, Marketing, Referral, Target Marketing, Taxes, Yahoo!. Bookmark the permalink. Leave a comment.