Energy companies know that one of the best times to acquire new customers is when they’re moving home. The problem is, every energy company knows that, so every energy company targets people at this time.
But what if you could target people a few weeks or months before they move home?
Google, who know a thing or two about how to mine data to gain a marketing edge, recently introduced a tool that allows exactly that. In essence, Life Events interprets people’s search activity to anticipate what they’re likely to do in the near future. For example, someone who’s likely to move house in the next 12 months, say, will investigate mortgage rates or houses for sale. Someone likely to move much sooner than that might investigate moving companies.
This is a serious addition to a marketer’s arsenal. The vast majority of people who use Google search results to drive business take a literal approach. That is, an energy company looking for new customers may devote a lot of its search spend to keywords like “energy company”, “power pricing”, and so on.
With Life Events, that approach will now come too late in many people’s decision making process. Marketers using only literal keywords will be gazumped by those using keywords that identify people earlier in the famous “pathway to purchase”. Those using Life Events will be able to use this targeting option in their YouTube and Gmail Ads.
Does that mean a literal keyword approach is about to become redundant? Not yet. Life Events has limitations, not least of which is that it only tracks data for people who are logged into their Google account when they’re conducting a Google search. That’s far from everyone – for now, anyway. I think Life Events is a potentially powerful tool well worth exploring, particularly if your product or service tends to be connected to particular life events. Travel agents and weddings, for example. Car companies and people about to graduate. Appliance retailers and people approaching retirement.
As always, talk to us for more information or if you’d like to test whether this is something you should take on. In the meantime, check out this two-minute video for a quick rundown from Google on Life Events, and this case study about how one Australian energy company achieved dramatic results by using Life Events intelligently.