Why Predictive advertising for law firms?
Predictive advertising is the practice of leveraging historical data and algorithms to accurately target audiences and optimize things like ad copy and media spends. Several platforms offer tools that study audience behavior and anticipate viewer’s needs to improve advertising outcomes. Technology continues to evolve and provide new avenues for promotion, and predictive advertising for law firms may shape the future of legal marketing. Here are 4 ways predictive advertising can help you optimize your legal marketing efforts.
Use built-in tools to create lookalike audiences
Facebook and Google both have tools that allow advertisers to identify potential customers through the use of customer data along with third-party behavioral data. Google’s Lookalike Audience and Facebook Similar Audiences use predictive advertising to study audience behavior and tailor campaigns for better web traffic and lead generation. Many legal marketers use historical data to create lookalike models for new promotional strategies. Since lookalike models have characteristics similar to your current clients, you can feel assured that money spent advertising to them will lead to warmer leads.
Automate content delivery
People expect increasingly custom content experiences. AI allows marketers to better personalize content creation to meet prospective clients where they are in their journey. Savvy legal marketers can use models to segment their audience and deliver relevant content that converts. Predictive advertising allows marketers to learn about clients based on their browsing history. That data helps them to determine where clients and prospects consume content and what kind of content they prefer. So, firms can automate advertising personalization based on user demographics and other factors like a device ID, domain, location, and interests to create the most relevant copy for that audience.
Target for moments before they occur
The valuable insights gained from predictive analytics make it possible for advertisers to create real-time ad placements. Google has termed the phrase “micro-moments” to refer to intent-rich periods of time when a user turns to their device to act on a need, such as obtaining information (coined “I want to know” moments). New technology creates real-time customized advertisements based on contextual signals about the user. Additionally, a client’s historical data relating to online behavior can be used to anticipate what services they’ll be interested in. This way marketers can serve up more customized advertising at the time prospective clients have a need (a “micro-moment”).
Obtain better ROI
According to a study by Interactive Advertising Bureau and PricewaterhouseCoopers, online advertising exceeded 100 billion in 2018. How much of that was wasted due to ineffective targeting? One report suggests that 26% of a marketer’s budget is wasted using the wrong marketing targeting or methods. Through sophisticated targeting and bid adjustments, predictive advertising can help marketers deliver improved ROI for their firms. In fact, Google’s automated bidding platform allows firms to choose a marketing goal like site visits and then uses audience and competitor data to automatically adjust bids in real-time. Making use of the tools that advertising platforms provide allow marketers to better refine their budgets and make the most of every dollar.
Predictive advertising for law firms may be the future of legal marketing, and firms that don’t make use of evolving methods will lose their edge. We make use of sophisticated data collection and analysis to help law firms develop their most effective and impactful advertising. Contact us if you are looking to further develop your law firm’s advertising.