This morning Peerset announced the launch of their flagship psychographic targeting product. We all know that online advertising still has a long way to go. Just yesterday I posted about how Facebook’s engagement ads highlight some of the future opportunities. There are two important components to quality advertising: top notch creatives and relevance. The second component is what Peerset is focused on. Last week I had an opportunity to demo the product which I found to be well developed.
The service compiles social profile data to create psychographic recommendations. For example, an advertising campaign for Starbucks could use Peerset to determine that those users with an affinity for Hollister and American Eagle also tend to enjoy Starbucks. While those are fairly broad terms, the company has developed a system which creates associations far down the “long tail” (up to 3,000 associated keywords).
In other words, based on the “interests” profile data you’ve entered into your social profiles around the web, Peerset will be able to present more relevant advertisements. Right now the company is focused primarily on large brands. For example if someone had the keyword “Social Times” in their profile, their system won’t be able to calculate associated interests because there isn’t a large enough sample size with that phrase in their profile.
For those companies running large brand campaigns however, this information could prove to be extremely useful. That’s why Peerset is focused on integrating with large ad serving systems which cater to the top brand advertisers. One clear target client would be Facebook who current sells advertisements to 83 of the top 100 brands. While there’s a good chance that Facebook is constantly improving their own targeting systems, Peerset believes that they have the answer for large publishers and ad networks.
Mike John-Baptiste, CEO of Peerset, says “We have spent the last three years performing scientific research to understand how people’s ideas, thoughts and opinions join together, and what assumptions can be made about how their explicit expressions of interest translate into related actions.” Users are broken down into various segments based on their interests.
While speaking on the phone to Mike John-Baptiste, I equated this to Clartias PRIZM which breaks consumers up into lifestyle categories. Ultimately there are numerous companies which focus on market segmentation for the purpose of improving advertising relevance. Peerset believes that they have the secret sauce to psychographic targeting for now.
If you want to test out their targeting system, head on over to the Peerset website.