Maximizing the value of your technology partners is more important than ever. It is a foundation of our business model here at MikMak to collaborate with, guide, support, and educate our business partners, as evidenced by over 30 percent of the MikMak organization being in customer success roles. Whether on shifts to the industry as a whole, like changes in privacy laws and the depreciation of cookies, or tips and tricks on maximizing solutions and capabilities available to you through MikMak, we want our clients to exceed their business goals as effectively and efficiently as possible.
One common theme emerging amongst successful brands working with MikMak has been leveraging MikMak Audiences. Common use cases include using the shoppers who interacted with MikMak Commerce experiences for re-targeting or seed sets in the creation of lookalike audiences. Here are more details:
What are MikMak Audiences, and how are they collected?
MikMak Audiences are the collection of shoppers who have interacted with MikMak Commerce experiences, showing an interest in your brand product and/or category. Shopper interactions like Purchase Intent Clicks (The number of times a shopper has clicked through to a retailer from a MikMak Commerce experience), Orders, and Attributable Sales are captured and reported on within the MikMak Insights dashboard. Those same shoppers can be captured during their interactions with a MikMak Commerce experience and delivered directly to your brand’s ad manager, Data Management Platform (DMP), or Customer Data Platform (CDP). Once captured, media planners are able to create custom audiences for re-targeting or lookalike audiences to prospect new consumers.
MikMak Audiences Use Cases
Brands can give shoppers who previously displayed an interest a second chance to convert via re-targeting, or redisplaying previously run ads or social media content to them. They can also target these shoppers with new content and/or products knowing they previously showed an interest in the brand.
In addition to re-targeting, media planners can use MikMak Audiences to build lookalike audiences. Using the MikMak Audiences as a seed set, they’re able to model and expand that audience to find others with similar interests and preferences. Brands can then target these lookalike audiences in new campaigns for improved performance and conversions.
Benefits of MikMak Audiences
Now that you understand the what and the how let’s talk about “the why”. While MikMak’s shoppable media and brand website experiences already provide shoppers with more engaging, frictionless shopping experiences that collect better data and convert at higher rates, leveraging MikMak Audiences is just another tool available to increase that marketing effectiveness even more. Campaigns leveraging MikMak Audiences in 2022 saw a 1.8x higher Purchase Intent Rate than non-MikMak Audiences. But it’s not just marketing effectiveness, MikMak Audiences are helping brands spend more efficiently too.
Brands are able to collect audiences from MikMak at no extra cost. These are brand/category shoppers that have shown interest in your product. Purchasing equivalent audiences from third-party vendors could cost brands anywhere between $0.25 - $2 per audience member. The average experience views by all brands using MikMak is 52,000 views per quarter. Purchasing audience segments at this volume could cost a brand around $13,000. Per quarter! With MikMak, you have access to these shopper audiences for free.
Learn from other brands, and more on how your brand can get started with MikMak Audiences
To see the power of MikMak Audiences in action, read the full Aveeno case study. In summary, the brand ran parallel campaigns using MikMak Audiences and broader audience segments not supplied by MikMak to test each segment’s impact on purchase intent. They quickly saw a 1.25x higher Purchase Intent Rate for marketing campaigns using MikMak Audiences.
To get started leveraging MikMak Audiences for your brand, get in touch with your MikMak account team today.