Retargeting for Events and Entertainment Part III: Audience Extension
The initial posts in the series focused on how events and entertainment brands can increase attendance, boost sales, and improve engagement with retargeting and highly engaging creative. This post will outline how brands with unique or very specific audiences can leverage the value of those audiences and bring in a passive revenue stream.
Extend Your Audience
Audience Extension is a means of monetizing your web traffic without the limitations posed by available ad space on your own website. Using the same cookie-based technology that powers retargeting, audience extension allows advertisers to reach your audience all over the web, not just on your site. In fact, you can use audience extension to provide advertisers with access to your audience even if you do not serve a single outside ad on your site.
Events or brands that rely on sponsorship can use Audience Extension to offer additional opportunities for sponsors to get in front of their audiences. NFL teams, for example, can leverage audience extension to monetize fans by selling impressions to sponsors like Coors or Nike. Music festivals with similar corporate sponsors can also offer up their audience to allow sponsors to reach attendees online.
For conferences, Audience Extension could be a valuable addition to sponsorship packages to make the proposition of sponsorship more attractive for the sponsors and to make the sponsorship deals more lucrative for the conferences. Celebrities or comedians with large followings could also employ audience extension successfully, tagging their audience via their blogs or websites.
Audience Extension is most effective for audiences that are highly targeted and is the most valuable for brands whose audiences are hard to find online. Nonetheless, any brand looking to reach a specific audience has much to gain from advertising with Audience Extension.
On the Advertiser Side
Audience targeting is an extraordinarily valuable proposition for advertisers because it is a much more precise means of reaching the right people online. Contextual targeting, or targeting ads based only on the content of a website, has traditionally been the default means of targeting new, relevant web traffic.
Though contextual targeting is still significantly more effective that untargeted ad buys, audience extension is an improvement yet. In addition to being a more precise form of targeting, audience extension allows advertisers to reach the right audience all over the web and offers more opportunities to reach the consumer and stay top of mind.
By retargeting ads to the desired audience, advertisers can ensure theyre staying in front of the right people all over the web.