Traditional marketing methods—direct mail, TV, newspaper ads—are struggling. More and more consumers are spending more and more of their time online. But how do you reach them there? A tool credit unions and community banks can use is IP (Internet Protocol) targeting.
“IP targeting provides a laser focused Internet marketing solution for credit unions and local community banks,” says Angela Ostroff, marketing consultant for Cox Media Group. “Financial institutions can find their members or customers where they are shopping—online. It allows you to place your display advertising in front of only your qualified consumers through the IP (Internet Protocol) addresses.”
This digital tool can provide a reduction in cost/consumer, flexibility in messaging and detailed analytics to enable ROI tracking to specific community demographics.
What is IP Targeting and how does it work?
An Internet Protocol (IP) address is simply a numerical label assigned to devices participating in a computer network. The IP address is used as an indicator of geographic location (geo-IP), determining approximately where an Internet user is located, useful for search results, geo-fencing, security, fraud detection and of course, marketing. As an example, a community credit union can provide a database list of all potential members for their credit union. The list is “run” against a database of millions of global IP addresses. From there, a custom campaign is created with targeting and monthly metrics. The marketing can be targeted by geography, demographic, context, and behavior.
“IP Targeting allows financial institutions to reach scalable and targeted audiences without using cookies or tracing individual behaviors or usage patterns,” Ostroff adds. “Additionally, the IP address does not contain personally identifiable information. It is an anonymous way to aggregate the audience the bank or credit union needs and wants to reach.”
The IP targeting technology allows banks and credit unions to advertise more efficiently while maximizing marketing dollars. The custom campaigns can create numerous targeting options as well. For more information about how Cox Media Group is using IP targeting for financial institutions, you can contact Ostroff at 412-237-1204 or check out their website.