People-Based Marketing (PBM)
People-Based Marketing (PBM)[edit]
People-Based Marketing (PBM) - is a strategic approach to marketing in which marketers target individual people, rather than groups, with relevant messaging across different channels and touch-points. An optimized PBM strategy leverages both consumer identification for accuracy and automation for scale.
PBM can assist companies:
- Understand the people on their website
- Build relevant marketing programs around the individual
- Connect marketing and user experiences across devices, sessions and browsers.[1]
PBM has been described as the the new gold standard of marketing,[2] with the driving concept behind PBM being that marketing is more effective when it connects with "the right person, at the right time with the right message"[2]
Background[edit]
People-Based Marketing (PBM) stemmed from the need for digital experiences to catch up to real-world encounters. On a daily basis, we have in-person interactions with store clerks, service providers and vendors of some kind. These interactions are dictated by our interests in a particular good or service, paired with the response from those assisting us. For example, we may be shopping for a pair of shoes with the help of a sales representative, that representative will pay close attention to what shoes we respond to and focus our conversation around that affinity. This is a very natural process in the material world, but becomes very challenging to replicate online.
The limitations of cookie-based data[edit]
Digital's original response to making the web more personal was to employ browser cookies, cookies allow businesses to stitch together sessions executed on the same device within a certain window of time. The issue with cookie-based data, is that it is eliminated when users either clear their cookies, use a new browser or interact with the web on multiple devices[3]
The development of People-Based Marketing[edit]
As people's connected device quantity, 3.6 devices/person[4], grew - cookies became an increasingly unreliable asset[5]. As a result, MarTech and SaaS corporations got to work in building solutions that allowed web properties to market to people across all of their connected devices, browsers and sessions.
The Requirements of People-Based Marketing[edit]
Identification Engine[edit]
In order to leverage PBM, businesses require some form of cross-device identification technology. This technology simply serves to determine whether or not a session is operated by someone who has previously engaged with a web property or if they are a brand new user.
Automation Platform[edit]
With an Identification Engine in place, PBM also requires an automated solution to send personalized campaigns to users at scale. These platforms focus on interpreting user behavior online and applying that data to deliver behavioral marketing that pertains exclusively to that user's interests.
PBM Impact[edit]
PBM technologists have begun making promising claims about the impact of PBM, such as it being "the first revenue channel with scale in 10 years".[6] As the marketing system matures it will become clearer to the marketing community what the exact impact of People-Based Marketing is.
See Also[edit]
References[edit]
- ↑ "Why People-Based Marketing is the Future". Inc.com. 2017-11-30. Retrieved 2018-02-15.
- ↑ 2.0 2.1 Forrester. "People-based Marketing: The Gold Standard". Forbes. Retrieved 2018-02-12.
- ↑ "How The Cookies Crumble In A Mobile-First World". MarTech Today. 2015-12-15. Retrieved 2018-02-12.
- ↑ "Digital consumers own 3.64 connected devices - GlobalWebIndex Blog". GlobalWebIndex Blog. 2016-02-18. Retrieved 2018-02-12.
- ↑ "Why People-Based Marketing is the Future". Inc.com. 2017-11-30. Retrieved 2018-02-12.
- ↑ "People-Based Marketing: 9 Startups to Watch in 2018". Inc.com. 2018-01-02. Retrieved 2018-02-15.
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