Internet users may not like Google’s predilection for using their search histories, but marketers certainly have plenty of reason to appreciate it. On May 23rd, Google announced yet another reason for firms to be grateful for the wealth of data the company gathers and stores. At the Google Marketing Next event, the search giant presented plans to add in-market audience features to the search function, allowing advertisers to target their messages to internet users who are ready make buying decisions about specific goods and services.
Google sifts vast realms of data to detect a pattern of information-seeking that indicates readiness to make a purchase. Advertisers can use the in-market audience feature to select audiences that show pre-purchase behavior for any of a large handful of categories of goods and services, based on their web-browsing behavior. The company explains:
“In-market audiences uses the power of machine learning to better understand purchase intent. It analyzes trillions of search queries and activity across millions of websites to help figure out when people are close to buying and surface ads that will be more relevant and interesting to them.”
As it happens, financial services appear on the list of audience interests, meaning accounting firms will have access to sophisticated big data tools to help them identify ideal ad recipients right when they’re searching for a related service provider.
This represents a significant advantage for accounting firms that advertise using Google. Not only is Google by far the most dominant search vehicle but its ability to gather and crunch consumer data is truly astonishing, rivaled only by Facebook’s access and prowess in this area. Adding the element of demonstrated current interest to the audience refinement process should deliver an exceptionally high rate of return on advertising investment.
The feature isn’t available yet, nor has Google given any time-frame for rolling it out to advertisers. It could take months or more before in-market ad targeting for Google search campaigns goes live, but accounting firms should eagerly anticipate using this powerful tool to leverage their marketing efforts.