26 Dec Blog: How Knowledge.io Q&Ads Work
Blog: How Knowledge.io Q&Ads Work
Businesses face a common problem in marketing: how to target potential buyers with the right information at the right time. Segmentation can only go so far in grouping users together, and modeling often categorizes people based on broad behavior rather than specific knowledge.
There’s value to targeting users with ads based on what they know and understand, rather than what they do. And it’s an approach that can reap better results.
This is the basis of the Knowledge.io Q&Ads platform. By using the Knowledge Score, advertisers are able to target users based on how much they know, rather than behaviors. For instance, two users may show similar behavior if they want to buy a suit. But one user may have a deeper knowledge of fabrics, cuts and tailoring options than the other. The Q&Ads platform allows advertisers to acknowledge those differences within the ads themselves.
That’s done by making ads take the form of questions and answers. Advertisers can use these as targeting material, surveys and a method to educate users about their products and services. This gives businesses the ability to access focus group-style responses at scale without having to pay for sophisticated research.
The ability of the ads go further: Merchants can use them to request information, get leads and obtain email addresses. Thus, the Q&Ad serves as the start of a communication link between the user and the advertiser.
Here’s an example. A Q&Ad might result in a lead, which allows the merchant to encourage the user to download their mobile app. Advertisers can even run conditional paths based on a series of responses, so they can become more personalized.
The Knowledge.io platform has hundreds of thousands of questions already available, and it will dive deep into the details. Moreover, advertisers will be able to search the network in real-time.
Advertisers can “select and identify keywords for target audiences based on knowledge levels related to topics associated with those keywords,” according to a Knowledge team member. That personalization then allows Q&Ads to be served to the right user, at the right time, with the right amount of assumptions made regarding their knowledge of a particular product or service. Additionally, advertisers can gain access to a huge number of personas at the time the platform launches.
“Not only will advertisers know what users know, and how much they know about something, they will also know what they don’t know,” according to a team member.
Because it’s a new advertising platform, the cost metrics will be different. The Q&Ads use a “cost per response” basis where publishers are paid a rate for every response given to a question.
The answers to questions allow advertisers to glean insights that can improve their product or marketing campaigns. Prices will be run as an auction, allowing advertisers to control their bids or allow Knowledge.io to optimize bids on their behalf. They can even apply demographic and geospatial filters for applying thresholds to certain search criteria.
Users have an incentive to continue answering questions because they can be rewarded with KNW tokens. Thus, both users and advertisers walk away with something gained, unlike traditional ad models.
Authors: Marvin Dumont and Patrick Stafford.