Paid Social Media:
Sometimes shortened to paid social, this advertising strategy consists in placing ads on social media platforms. The enormous amount of data collected by social media platforms allows you to refine your target audience to a degree that you cannot even imagine, especially on Facebook. Let’s start with the obvious ones, you can target people based on demographics, their location, their interests. Sounds ok so far? Now what if we tell you that you can also target people based on life events such as having a new pet, the end of a relationship, or moving house. Facebook gathers information from large consumer databases and on top of that, tracks people outside of the social platform, which in return allows advertisers to go quite far in terms of targeting. To give you an idea of how much these companies know about us, some consumer databases like Acxiom have an average of 1,500 data points per person!