Today marketers need to take steps to close the gap between raw data, meaningful insights and real-time action, including:
Collect and reconcile customer data about identities, profiles, purchase history, preferences and transactions
Transform and augment this data into a 360° view of the customer with context, intentions, relationships and interactions
Turn data into insights with segments, scores, forecasts and recommendations
Connect in real time to the customer touchpoints and turn those insights into increased conversion rates and customer loyalty
And they must do it for all these forms of data:
Behavioral data enables targeting based on a user’s previous web browsing behavior across the internet. By placing a cookie on a user’s browser, various behaviors are collected including websites visited, page views, clicks, downloads and video completions. Users with similar online browsing behaviors can be grouped together into one segment and targeted with a message that caters to their interests.
Contextual data enables targeting based on the content viewed by the user. Both the content and keywords displayed on the page are captured. Contextual data is most effective for targeting a consumer’s present web behavior and aligning the ad messaging to the content they’re viewing.
Psychographic data provides insight on “why” customers might buy from you, including personalities, beliefs, values, interests and lifestyles. Psychographics offer actionable information to focus on the psychological aspects of consumer behavior while helping to paint a more detailed picture of who your target audiences are and what motivates them.
Demographic data provides details on “who” your customers are, including age, gender, income, marital status and household size. Segmenting based on demographics is one of the most common ways to group and target audiences with similar attributes.
Geographic data provides information on “where” your customers are. Geographic location is pivotal for targeting specific regions, particularly for global brands to tailor local promotions for each market.
1st party data is collected from your own audience and customers. In addition to data provided by DSP/DMPs, it’s important to consider all other data sources available to measure and maximize performance including campaign performance data, CRM data, social data and website analytics.
With your 1st and 3rd party data, you can build custom audience segments and glean insights about each audience segment to inform your data-driven creative and overall marketing strategy. By matching creatives to the audience segments provided by DSPs and DMPs, marketers can target their desired audiences more precisely, achieve message relevance and customize creatives that resonate more with each audience segment.
Find out how J&C can help make your customer data more actionable. The result will be better retention and better business outcomes.