Data Resources – Lesson from a Class Reunion

By: Laura Lofthouse, Senior Vice President, Media Delivery Team, Valassis
Published Wednesday, Oct 19, 2016

Data Resources – Lesson from a Class Reunion

Walking into a recent high school reunion quickly confirmed one thing – cliques matter. And they aren’t all that bad either. It’s comforting and invigorating to reconnect with the pep club, the student council, the band kids and church youth group friends. Each clique defines a key aspect of who I am. But it’s only a part, a piece of the whole that only I, and my best friend, understand.

The resources available for identifying and reaching your best audience are the cliques of the data world. Whether proprietary or syndicated – each source provides necessary, detailed information about one specific aspect of the consumer. Is one source enough?

80 percent of marketers believe they have a holistic view of customers across interactions and channels. Yet… only 22 percent of consumers say that the average retailer understands them.*

A combination of appropriate online and offline data – including demographic, geographic, real-time, behavioral, purchased-based, editorial/contextual, retargeting and sales data – is the only way to obtain a holistic, “single view” of the consumer.

This cohesive profile will allow you to enhance relevancy, relationships and activation. It may also open your eyes to new opportunities to connect with valuable prospects. Think of it this way:

Demographics – Class Reunion Attendees
Census information (age, income, ethnicity, education, etc.) by all levels of geography and proximity to store location.

Mobile Location – Third-floor Seniors
With more consumers running errands around where they work, which may not be close to home, leveraging mobile location data provides important insights into on-the-go behaviors. These insights provide a more precise geographic analysis of foot traffic to understand where consumers travel throughout their day.

Purchase Behavior – School Store Employees
Reach high-value shoppers, core-category shoppers and competitive customers, based on actual online and in-store purchase behavior.  Sources like Kantar Shopcom connect purchase data to media consumption data and brand attitudes data to paint a picture of real consumer spend.

Consumer Lifestyle Characteristics – Band Members
Life stage or lifestyle audience profiles go beyond demographics as a predictor of a consumer’s interests or potential needs.  Millennials are a great example, with much research around how their shopping and savings activity changes once they have children – oftentimes behaving more like genX or boomer generations. Scarborough Research® is one of many options that can help uncover the lifestyle and shopping patterns, media behavior and demographics of consumers.

Media Use – Reading Club
Identify which media influence consumers’ purchase decisions and store selection. Data sources like Prosper Insights & Analytics™ provide timely knowledge of consumer shopping behavior, purchase intentions and insights into the right media to reach them.

Act-a-likes – Voted Most Likely To
It used to be all about “look- a-likes” – the belief that consumers who lived near each other were similar in demographics and buying potential.  Now with the addition of online behavioral data like web and app visits, new consumer patterns can more accurately build complete, real-world audience profiles – “act-a-likes.”

As with reunions, seeking out various cliques (targeting resources) can renew your understanding of the evolving consumer and industry trends. Cultivate a trusted relationship with a partner that uses the appropriate online and offline data intelligence to form a single view of your best customers and, ultimately, the best media plan to reach and activate them. Make a new BFF.

* Source: IBM/Econsultancy, “The Consumer Conversation,” 2015