Classifieds industry on the rise
You thought that popular classified ads platforms are no longer a thing? In fact, they are still used by both sellers (individuals and companies) and consumers. Reports show that interest in websites such as OLX or Gumtree, as well as more local players as Drushim IL, dubizzle and ParuVendu is still big and that companies can still gain from selling on them. It is expected that ad spending in the classified industry will reach USD 21.16 billion in 2022 and will show an annual growth rate (CAGR 2022-2026) of 3.39%. Authors of another report claim that the online classified ad platform market will probably grow by USD 16.1 billion from 2022-2026, reaching a CAGR of 10.36% in the forecast period.
The world of classifieds is changing. The most important aspect of that change is the revolution in the business approach. Sellers cannot simply sit and wait for customers to come to them. That is why classified ads websites owners attempt to provide them with advanced selling and advertising tools and technologies.
You should consider investing in the newest solutions that will allow you to present offers with great precision and adequacy. The right message needs to be sent to the right audience and at the right moment.
1. Effective classified ads: use retargeting
Customers who purchase through classified ads websites view numerous offers every day and conduct extensive research before they actually buy something. It’s important to reach customers during their decision-making processes. Once they make up their mind, it is too late to act – they can disappear from the market for a while or become loyal customers of your competition. If sellers are not able to target those users who view their products, they may lose the opportunity to sell. Don’t let them run off to your competition. Invest in Deep Learning and systems capable of performing a deep analysis of unstructured data. If you want to convince sellers to choose your classifieds website for running their business, provide them with advanced retargeting features to bring potential clients back to their offers.
2. Effective classified ads: leverage prospecting
The way to ensure that the sellers will be able to reach a sizeable pool of customers is to leverage the effective techniques of traffic generation. With the right technologies, those who leverage classified ads can identify their target group and reach individuals with personalized content more efficiently, and without unreasonable expenses. You need to understand that there are many types of campaigns that help achieve different goals. Dividing the marketing budget between retargeting for most engaged users and prospecting for less engaged audiences results in reduced customer churn and increased revenue. In the classifieds sector, the main goal is to increase the classifieds website membership base and that is exactly what we can ensure with our prospecting product.
3. Effective classified ads: personalize content
Great user experience is essential for a brand’s success, but personalization is more than just displaying the right message to potential customers. AI-based software can analyze the preferences and activities of your targeted group. This way your classifieds website can present accurate products to users based on their profiles using segmentation. The offer will be adjusted to their expectations (in terms of type of product, brand, color, model, location etc.). When you personalize content on your classified ads platforms, you increase the probability that each individual will find products that fit their needs and sellers that sell on your website will not lose potential customers to other classifieds platforms.
4. Effective classified ads: focus on the mobile experience in classifieds advertising
In Q4 2021 mobile devices generated 54.4% of global website traffic (even though tablets were excluded). Many e-commerce companies have developed mobile applications for their stores, as people find it comfortable to use them for shopping in their free time. Also, a growing number of users view offers on classifieds websites on mobile devices. This means that classifieds website owners should focus on ensuring a seamless mobile experience and come up with advertising campaigns adjusted to smartphones and tablets. It is of the utmost importance to leverage precise targeting and personalization also among mobile device users, as they already generate more than half of the global website traffic, which means that they can be a significant part of potential customers searching for products and services on classifieds websites.
5. Effective classified ads: invest in deep learning solutions
Deep learning has multiple applications in the classified ads sector. It enables content personalization on the website. The entire process is automated and performed on data gathered in real time. It makes it so much easier for sellers to reach the right customers with the right offers and reduces the possibility that users will not find the product they were looking for, and will turn to other classifieds websites. It also powers the retargeting solutions and automatically makes efforts to draw customers’ attention to the offers displayed on the classifieds platform.
Deep learning systems using neural networks are capable of efficient learning over time. The more data you provide for analysis, the higher the probability of your campaign’s success. Thanks to DL-based solutions, your advertising in the classifieds industry will, in time, become even more effective at reasonable costs. All you need to do is to feed them with data to learn from.
How to start with the advanced technologies in the classifieds industry?
Following best practices for the classifieds industry mentioned above may make a difference between success and failure in the classified ads segment. Don’t forget that there are various classifieds websites out there and some of them are investing a lot in advanced solutions at this very moment. In order to outrun the competition, you must focus on ensuring the best experiences for both mobile and web users. Providing them with offers that fit their expectations and needs will decrease the probability of them moving to other classifieds platforms and may even increase their loyalty towards your brand.
Are you new to the world of highly advanced tech solutions for the classified ads segment, or would you like to learn more about it? Allow us to tell you more about it.
Contact us, and we will be happy to advise you on the best solutions for your company.
