The NeighborGood uses microtargeting data to find out what makes your audience tick—what they like and don’t like about your product or service and then optimize ads for them based on that information. This means you can get very specific about who sees what ad, so that each customer receives a relevant promotion.

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This strategy can be a great way to improve brand reach because it allows you to expand the audience for your message. The amount of data involved provides several growth opportunities because it enables targeted advertising, often resulting in more accurate marketing campaigns.

Below are seven ways on how microtargeting enables data-driven marketing.

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• Improves audience segmentation
  Microtargeting helps improve audience segmentation by allowing advertisers to more accurately identify groups of people who are more likely to be interested in their products. Businesses can analyze the online behavior of users (such as what websites they visit), the demographics of their area (such as age or income level), or even psychographic attributes like personality types or even political leanings.

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This information can then be used to target specific groups of people through digital media channels like social networks or search engines.

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• Enables consistent and relevant brand messaging
  When you are able to target your audience directly, you are able to ensure that they receive consistent messaging that is relevant to them. This strategy means that if someone loves sports and sports happen to be part of your product or service, then they will see ads about horses more often than someone who doesn’t like sports.

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• Helps create better decisions
  Microtargeting helps create better decisions in two ways: first, by providing insight into customer behavior, and second, by providing insight into competitor behavior. By understanding customer behavior, businesses can learn more about what their customers want and how they behave online.

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• Simultaneously, by understanding competitor behavior, businesses can learn how other companies are reaching customers online and how they are performing compared with each other. This knowledge can help determine which strategies will be more effective for reaching new customers or increasing sales among existing ones.

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• Drives Sales
  Because microtargeting focuses on a specific audience, it enables opportunities for companies to grow and increase sales. The target audience is more likely to engage with content that the company provides, and if you combine that with putting the content on the appropriate platform, the more likely it will drive engagement and sales.

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• Allows you to scale your business
  Business owners need to put their time and resources into different aspects of the company. If one part of the business takes up too much time, it can hinder other aspects of the company, potentially hurting its growth. 

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Through data-driven marketing and microtargeting, you can easily pinpoint potential customers quickly, allowing you to focus on company growth. Data collection has become invaluable for many because it gathers customer information that can help businesses optimize their strategies. 

One thing to remember is that data privacy plays an integral role. By ensuring your customers that their data will be safe, they will most likely continue doing business with you, eventually establishing trust.

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• Provides you with invaluable insights
  As mentioned, companies are able to gather information about their customers ranging from the content they consume to the platforms they use. These pieces of information become key insights into what a business can do further entice its audience to continue engaging with the company.
  One example is if a brand notices its consumers gravitating towards them more if there is a free shipping voucher available. What they can do is offer more of these vouchers so customers will continue to go back to them. The situation varies from company to company, so you need to determine what your key insights are.

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• Enables you to see what works and what doesn’t
  In relation to the previous point, understanding insights can help you see what works for your company and what doesn’t. What works can be related to positive outcomes from your target audience, like good reviews and recommendations. If something doesn’t work, it indicates points for improvement and can help you adjust your strategies.