The world of online advertising is changing. With the introduction of stricter privacy laws, many platforms are starting to crack down on data collection. As a result, audiences are becoming harder to track and data collection more restricted. This presents a challenge for businesses that rely on online advertising to reach new customers. However, Shopify has found a way to overcome these challenges with Shopify Audiences. By leveraging the data collected from Shopify merchants, Shopify Audiences allows businesses to target ads to customers who are likely to be interested in their products or services.
What are audiences in general?
Businesses must ensure that their marketing efforts reach the correct people to be successful. The target audience is the particular group of consumers who are most likely to buy your product or service and, as a result, the people who should see your advertising efforts.
Age, gender, income, location, interests, and various other criteria can all be used to determine target audiences. By identifying your target demographic, you may avoid wasting time and money that are unlikely to result in conversions.
What is Shopify Audiences
This new feature allows Shopify brands to choose goods from their catalog and display them in front of potential buyers. The Audiences tool uses machine learning, which generates a lookalike audience for that product; these lists can be exported to advertising platforms.
Right now, Shopify Audiences only supports Facebook and Instagram advertising. But Shopify stated that it is very likely that they will include other platforms soon.
A sight for sore eyes
It has gotten more difficult for us to identify our target audience. Numerous platforms are revising their privacy policies as a result of many governments regulating data collection. The release of IOS versions did not improve the situation either.
Fortunately, Shopify is attempting to address this hole by developing its own machine learning algorithm. Shopify Audiences will provide merchants with an effective way to reach out to new customers.
What about privacy?
Shopify states that
“Customer data is securely hashed and aggregated. No business has access to the personal information or statistics of buyers included.”
. Also when exporting to ad platforms, audience lists are encrypted and securely delivered, and lists cannot be accessed from ad platforms. And customers have the ability to opt out.
Shopify Audiences is a Shopify-only tool; no other platform has access to it. This app is also included in Shopify Plus, which is just another reason to embrace Shopify Plus. To learn more about Shopify Plus, visit HERE.
Benefits of Shopify Audiences
Shopify Audiences will help decrease conversion costs because the audiences will help top-funnel targeting. Secondly, since machine learning gets better over time it will continue to provide high-intent audiences and will become better at it. Thirdly, these audiences will increase acquisition. Lastly, Shopify can give transparent performance reporting based on Audiences.
We hope that Shopify Audiences will release soon for all the European countries so that we too can enjoy what it has to offer. In the meantime, we will stick to the tools we have available in our arsenal, like: Google Analytics, Billy Grace and Shopify data.
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