Profiling and Modeling

What do your Consumers Want?

Do you…

  • drive a 1990 Audi station wagon?
  • eat only rice and beans?
  • wear only hand me downs or clothes bought at your local thrift store?
  • only buy furniture at flea markets?
  • live in a van down by the river?

Probably not.

If someone asks you what you want for your birthday do you tell them shampoo or toothpaste?

Maybe, but that would be a rare consumer and a very strong outlier in any data set. And while that consumer wouldn’t require much effort when it comes to marketing strategy your potential and existing customers don’t just purchase the basic necessities to get by. They also purchase what they want.

A good marketing strategy starts with understanding what motivates buyers, allowing them to experience those feelings in advance, and thus creating a desire for them to take action.

How do you tap into that?

A good place to start is with data and lots of it. But, not just any data. There is an explosion of readily available data in this day and age from multiple sources, in multiple formats, and spread across multiple data silos. First, it needs to be cleaned & unified.

From there you need to optimize your data through segmentation, profiling & modeling, and personas while combining spending habits, touch-point behaviors, and other various measures into one single reliable customer view.

This helps create new insights and intelligence that you can add to your campaign execution.

Don’t let your marketing strategy be a one size fits all approach to just spray out a message hoping it will land on someone who will buy. Make it a goal to understand the wants and values of your potential and existing customers. A good place to start is always with clean, unified, and optimized data.


Customer Retention is Key

Lost customers can result from being overlooked, not getting enough attention, or getting too much attention. It can ruin customer relationships or how they perceive your brand. Companies need a platform to engage their customers personally across all touch points on a regular basis with the right message at the right time.

Whether it’s quarterly, seasonal, monthly, weekly, or promotional outreach, it’s imperative that companies retain customers against multiple competitor campaigns.

Be sure to reinforce the value of your brand, respond quickly to any real or perceived problem, and get proactive in knowing your customers base. Start with profiling & modeling, segmenting your customers, and creating personas. See how customers rank along multiple factors including revenue contribution, lifetime value, and campaign response rates then take a closer look at how often and in what ways you are connecting with them.

How often are you contacting your customers (too much, too little, not at all), through what channels, what is the purpose of your outreach, what messaging are you using, and what are historical outcomes of those interactions?

Put yourself in your customers shoes. Do your outreach efforts make you want to buy more from your company, feel valued as a customer, feel like your preferences and buying habits are understood?

Apply analytics to your data to better understand your situation, then decide on the frequency, purpose, and channel of outreach to stay top of mind to your customers before they go elsewhere.

Life Events Can Drive Marketing

Personalization is the key to marketing today. The more personal your campaign is the more likely it is to reach the emotions of your consumer. And emotions drive sales.

One of the best ways to personalize a campaign is to use life events. So how do you go beyond birthday when marketing to your customer base?

The key to life events is a good profile of your customer base. You need to make sure your data is clean and has been through Identity Resolution before appending consumer data. Clean data brings back the importance of Identity Resolution. If you have clean and unified data, you will be able to append consumer data with much more accuracy.

Once a customer database has been through Identity Resolution, a good profile will include important dates for each customer. For example you will find wedding anniversary, children’s birthdates, retired date, home purchase date, and more. This kind of data can personalize a campaign on a whole new level.

How can these dates help your marketing strategy? You can use life events to trigger campaigns. So if you are a jewelry store, why not send campaigns based on wedding anniversary? Or if you are a home and garden shop, what better time to send something than the home purchase data anniversary?

Being creative in your campaigns will only boost sales. Don’t discount data that might seem small and inconsequential. It might just be your next best campaign.