Bing has announced that they have introduced a new targeting feature for their US advertisers to reach their in-market audiences with Bing Ads. In-market audiences are probably one of the best groups you can target as they are your consumers who are ready to buy particular products and services. They are actively browsing the market for a specific product or service that your business offers, which makes them likely buyers. This features comes following a test Bing conducted last summer with their audience targeting feature.
According to Bing, the participants from last summer’s pilot saw up to a 28% increase in their click-through rates (CTR) and up to a 48% increase in their conversion rates with in-market audiences.
With this new feature, there are over 170 in-market audience categories, compared to only 14 different categories available last summer when the feature was initially tested. The range of in-market categories is broad, including travel, financial services, and retail.
Bing’s in-market audiences will operate through bidding. “Advertisers choose to bid only or target and bid on the audiences”, according to Search Engine Land.
How can I create a new in-market audience?
In order to create a new in-market audience, head to the audience tab in Bing Ads, and click on “create association”. Following this, choose your ad group and then select “in-market audiences” from the selection of ad group targeting in the drop down.
Finally, you can use Audience Segmentation to compare and contrast the performance of different in-market audiences against a group of users who are not being targeted.
To achieve the best results, you are probably going to want to get specific with the audience you target, which is where Bing’s targeting options come in handy. As previously stated, there are several categories to choose from in their targeting options. For instance, under the Consumer Electronics category, various subcategories exist, such as GPS and navigation and game consoles. Under each category and subcategory, Bing displays how many users there are in a given list.
Bing’s in-market audiences feature can be used in tandem with some of their other targeting options, like custom audiences and remarketing lists.