If you’re a marketer, here are the questions that probably keep you awake at night:
How do I find and isolate the right buyers that I want to sell to, out of a sea of thousands?
How should I introduce my brand and my products to them?
How do I convert them?
The answers lie with your Customer Data Platform (CDP).
Your CDP is the most essential part of your tech stack, designed to centralize all of your customer data, all of their their events and all of their interactions with your brand. It’s designed to assist you in finding all of your next best customers as well, even if they’ve never engaged with your brand. One tried-and-tested strategy to find future customers is called lookalike modeling, and, almost exclusively, it happens on digital platforms, like advertising and social media.
What is a lookalike model?
Marketers rely on lookalike models because finding new customers is like searching for a needle in a haystack. A lookalike model starts with a seed audience. The seed audience is typically a smaller segment, containing your best customers. The goal of using lookalike modeling is to find more people who exhibit similar traits to your best customers across the Internet. On Google, the similarities between your seed and lookalikes may be their browsing behaviors or search behaviors. On Facebook, it may be similar brands they like. Ultimately, the goal of a lookalike model is to improve your odds of finding new customers.
Using Zaius to build a lookalike model
First, identify your goals:
Who are you trying to reach?
What would you like them to do?
Of course, you are going to start with the data you are ingesting into Zaius, including in-store, commerce, and data from integrations, such as ratings and reviews or loyalty points. Next, you will need to create smart and precise segmentation by using a pre-built segment, like past purchasers, or by creating one from scratch using your own criteria. The resulting segment will serve as your seed audience that feeds the lookalike model.
Finally, sync your segment into a lookalike modeler. In Zaius, the easiest way to do this would be via Facebook or Google, but you can send this lookalike model to any ad tech platform of your choosing.
Putting it into practice
Let’s take an example: you have a line of men’s polo shirts and your goal this month is to find, attract, and convert more customers for them. Using an Activated CDP like Zaius makes this process simple:
- First, create a segment of past purchasers of men’s polo shirts from the last 90 days.
- Next, you can sync it to the platform of your choice.
(That it. That’s the entire process. Pretty simple, right?)
By default, all segments that you sync to Google will automatically have a lookalike model created. But keep in mind that each platform creates their models differently, so we recommend that you familiarize yourself with how each may go about calculating your model.
Want to learn more about look-alike modeling with Zaius’ activated CDP?