One of the biggest challenges in today’s age is staying in tune with the constantly changing market and needs of our customers. From Facebook to Instagram, Boomerang, or Snapchat… what customers are interested in, who they are, and what they care about is always in flux. How do you stay agile in a shifting world? You must constantly be striving to understand your customer and what your company’s ideal customer persona looks like. Aligning on your ideal customer, in conjunction with understanding your prospects and customer database, will allow you to target and market to them in the best way possible.
How do you begin to understand your prospect and customer database? You start by looking at your customers and learning more about what they care about. By taking your existing database and using data enrichment techniques, you can begin to come up with a holistic understanding of who your customers are. For example, say your name is Joe, you are a Senior Marketer for Subaru. Joe is trying to sell Subarus in New Hampshire. They have sold very well in Vermont, and we want to replicate that success in another New England state. First, Joe can pull his existing database and apply attributes and data to his database to learn more about his current customers. He can optimize his data to learn that in certain zip codes that have large school systems, the units of Subarus are higher. Also, the average income is $46,000, and those zip codes have a majority of two-income households.
Based on the aforementioned data enrichment that Joe has done, he can now more specifically market to zip codes in New Hampshire that have an average individual income of $46,000 with two household incomes. Working to enhance your database with more data is never a bad thing, and is a massive tool to leverage for any organization looking to stay agile and market more specifically to those individuals or households that they believe would be aligned and receptive to their product messages.
Data enrichment is where the world is heading to help companies be more in tune with their customers and prospects. The goal is to get to a point where you could even be proactive in determining trends of what customers will be interested in based on the current data that we have on our customers. Many organizations are looking to achieve a single customer view to help drive these sorts of predictive analytics, and enrichment can help you make great strides in having a more 360-degree understanding of who your customers are, what they like, and how that can drive your decisions in the future.
Experian’s can help you enrich your data and get that much closer to achieving a single customer view.