June 27, 2019

Your Key to Unlocking New Opportunities

Your Key to Unlocking New Opportunities

We know the benefits of using audience driven data. But now that you have the data, do you know how to use it to keep customers engaged and buying more? Do you know how to leverage it to get new potential customers to take that next step? This blog post explores the O in your SWOT analysis and how you can use accurate, clean audience data to unlock the opportunities you didn’t realize were right in front of you all along.

The essence of effective audience data driven marketing always comes down to how you apply the data knowledge that you have on hand to engage your audience.  Whether focusing your message on brand, product, education, retaining customers, finding new customers or anywhere in between – reaching a responding audience is part and parcel to your success.  The key to driving a successful data driven audience campaign relies on a combination of historical data and some combination of data augmentation from first party accredited data partners.  As a marketer – that’s why you have taken the steps to ingest data points into your platforms and campaigns/programs.

Now that you have the data what are some of the opportunities you can quickly take advantage of to amp up of your efforts.   If this is the first foray into data driven audiences using third party data augmentation always go for the low hanging fruit, some key fruits:

Check to ensure messaging aligns with the correct audience age cohorts – not a desired target age.  Examples could be:  Wanting subscribers that are aged 25-35 but the new data you have ingested shows that most subscribers on your house database don’t start until they are age 40+ or at least one person in the household is age 40+.  One way to utilize the knowledge gained from data driven insights is to tailor your message accordingly to you audience age cohorts.  Perhaps, target audiences closer to the age 30+ with at least 1-person age 40+ in the house or maybe target both audience but rewrite your message to age 25-35 that have no known household member of age 40+.  Pro Tip: Hold onto the 25-35 group that didn’t subscribe but responded (you may be able to activate/reactivate them when they reach the age of most of your subscribers – age 40+).

Hygiene your basic demo’s – if you have self- reported demo’s check them against the data you have ingested from a third party – make sure the data aligns.  If it doesn’t dive into why?

The trick with new third-party data providing you with impactful ROI is to track whatever you are doing with the data so that you can provide measurement and effective analysis.  It is always ideal to track your responses/buyers by campaign with key data tags from your newly ingested data along with your house data – start developing the persona’s and/or trends, know who responded, to what they responded to, and identify the metrics that stand out.  Is it age, is it number of times contacted, is it income, maybe an interest in unicorns, perhaps the color purple in your creative – the point is you have just taken in additional data and added it to your marketing ecostream, make it count and track, track, track or as they say in one to one marketing test, test, test and then measure, measure, measure– this will allow you to find your winning combination of data driven audiences to tap into for campaigns that will produce the LTV needed for your success.

Interests and inclinations + your point of sale data = successful upselling.   No matter what you are selling utilizing the new audience driven data is clutch to showing your intended audience that you know your market.  A pop culture example of this is Disney – Disney knows their multi buyer, if you have been to Disney multiple times – it wouldn’t surprise you to know that they know you will by rose-gold sequined Minnie mouse ears … you would probably be remiss if they didn’t have those ears.  But for the rest of us marketers a prime example of using interest, inclinations and POS data would be if you are selling aromatherapy candles and you notice that for some reason a significant portion of your database is also purchasing a lot of dog/cat products – perhaps a new pet aromatherapy candle line should be test marketed to your customers that are buying pet products in plethora elsewhere.

Mostly though, if you have developed your POS system and included third party data into your audience data streams, you will have a need for advanced analytics.  Algorithm based audience solutions combine seemingly infinite amounts a data of any size into an organized story that allows for informed decisions to be made.  A + if your database is updated regularly as new information is feed into the algorithm.  This type of work requires data scientists that have either worked on your internal database for a long time and know your data needs (what works and what doesn’t – what you need to take results to the next level) or enlisting a service who has deeply rooted knowledge in consumer data point of sale (transactions) and consumer profiling (indexing) against a stated goal.

And remember “A LEARNING CURVE IS ESSENTIAL TO GROWTH.” –TAMMY BJELLAND

Happy Marketing and good luck with  your next campaign!