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With new products and services being added every day, the market is becoming more cluttered. Hence, it becomes even more challenging for marketers to reach their target group in the right context and at the right time. Targeted marketing strategies are required to zero in on high-intent audiences in their products or services with relevant messaging and to avoid ad spends on uninterested eyeballs.
To delve deeper into the topic, exchange4media, in collaboration with Quora, curated a webinar on “Decoding Target Marketing” and “How to Market your Brand with Quora”. The session was held on Friday, 18th September 2020.
Vishal Jacob, Chief Digital Officer, Wavemaker, joined Gurmit Singh, General Manager, APAC, Quora, in a one-on-one discussion on target marketing. The session was followed by a presentation by Quora Ads Senior Manager Radhika Vijay O.K, and Senior Client Partner at Quora Nitin Patil, who shared insights on ‘How to Market your Brand with Quora’.
Singh commenced the one-on-one virtual interaction with Jacob by asking about precision marketing. Jacob explained,” Communicating with the right market and audience at the right time to get maximum ROI can be considered as Precision Marketing. With the influx of data and technology, precision marketing has become the need of the hour with marketers aiming at their target customers.”
Talking about the kinds of brands that are specifically targeted, Jacob named consumer durables, fashion, lifestyle, technology and other brands." Communicating with the customer is what we focus on and how intelligently we can use data and technology," he added.
Singh provided an insight on how advertisers are utilizing digital fully: “There has been a shift from conversation to reach. Advertisers are now trying to have the maximum conversion of the conversation with their target groups”.
Ending the session, Jacob remarked:”Targeting the right audience with the use of data and technology is the way forward."
Patil commenced the presentation by giving a deeper insight into Quora. He explained, “Quora is a platform where people search and share knowledge and learn about the world. We are a community of knowledge sharing and learning. We have information that ranges from global to hyperlocal”.
He added, “Quora helps brands in target marketing. Targeting the right people at the right time and the right context helps in conversion of high quality leads and build greater customer engagement”.
Patil informed, “Quora has 100+ million unique visitors with 75% YoY growth in audience reach. The site has 54% male users along with 46% female users”.
He added, “Quora has unduplicated India reach with average 40+ minutes spent daily on the Quora app. We are extremely popular on various social media with 81% reach through Twitter and 74% reach through Linkedin. Quora has 4 lacs+ topics ranging from education to cricket to technology and more. The most popular topic is Education with 38 million questions and 16 million followers”.
Patil explained the three ways by which brands can collaborate with Quora for maximum reach and engagement: Text & Image ads; business profile; and promoted answers.
"With the Text & Image Ads, brands can opt any one of the options between text or image to make themselves visible on Quora. Business profile for brands helps them create a one-stop destination for consumers. With the promoted answers option, brands can share detailed information about their product, helping them steer the conversation and promote organic growth," he explained.
Radhika continued the presentation by highlighting four ways by which brands can leverage Quora to reach their customers. She said, “Brands can choose Contextual Targeting or Audience Targeting or Behavioural Targeting or Broad Targeting.
"Contextual targeting shows ads relevant to specific topics or keywords or questions. Audience targeting shows ads that match web traffic or lookalikes. Behavioural targeting shows ads that are based on user behaviour, interest, keyword history and question history. Broad targeting maximizes reach through highest potential impressions.”
“The difference between contextual targeting and behavioural targeting is that contextual targeting is based on real-time while behavioural targeting is based on the user behaviour and search history”, explained Radhika.
Moving towards the end of the presentation, Radhika enlightened the audience by the methods of bidding that brands can use on Quora. She said, “Brands can either choose CPC (Cost per Click) or CPM (Cost per maximum impressions) or CPA (Cost per Action) for optimizing their ads to deliver maximum conversions”.