Take Digital Marketing to the Next Level with Enriched Demographic Data
You may be familiar with the famous quote about marketing that says “Half my advertising spend is wasted; the trouble is, I don’t know which half.” For nearly a century, that was the lament of marketing managers everywhere, who had limited visibility to the effectiveness of their advertising and the responses it evoked with different audiences. Digital marketing has changed all that. Advertising has moved from a “shotgun” approach in which ads could only be delivered to a relatively broadly defined audience, to a highly refined, micro-targeted exercise in which the effectiveness of various ads, images, and subject lines can be measured with a high degree of precision and demographic data is playing a leading role.
Digital marketing automation tools have become commonplace, available to virtually any business that wants to peddle its goods and services to a clearly defined audience. Yet most businesses are not reaping the full benefits of a data-driven approach to digital marketing. While the shift from traditional advertising to digital has been enormously beneficial, the advantages to be gained from leveraging enriched demographic data and geolocation are even more significant. Yet most marketers have yet to tap into the vast potential that demographic data has to offer.
Why Demographic Data Enrichment Matters
Let’s assume that, like many businesses, you collect some baseline information from the people who visit your website, customers who make purchases at brick-and-mortar stores, and perhaps even some users of a dedicated mobile app. In many cases, there’s a limit as to how much detail you can gather with each of those tools. You might get minimal information in some cases, such as a name and email address. At other times, such as when a customer places an online order, you might get considerably more detail.
Demographic data enrichment vastly increases the value of this information, helping businesses to better understand who makes up their audience and to segment their customers into meaningful groups based on their interests, buying triggers, income levels, or other important characteristics. That, in turn, enables marketing managers to make better investment decisions, tailoring their efforts to reach specific audiences with messages that are more timely, more meaningful, and more likely to produce positive results.
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Just as digital marketing represents a quantum leap forward, so too, does the use of enriched demographic data to develop and deliver advertising that is highly personalized to the interests and needs of each audience you serve. To learn more about how Precisely can help you achieve greater marketing effectiveness, watch our free on-demand webinar.
Demographic information can include a wide range of different data points, including age, gender, occupation, education level, income level race and ethnicity, marital status, and more. Each of these helps to narrow the target focus for a specific campaign to address the interests and needs of the audience. Understanding factors such as a person’s household status usually implies certain priorities. A married couple with young children, for example, is likely to be more interested in toys and family entertainment, educational enrichment for their children, and building long-term financial security.
It can even be effective to tailor advertising images to fit specific target audiences. Young parents, for example, may respond best to ads that show a nuclear family with children at play, whereas older couples may prefer something that focuses on their role as grandparents. Simply put, demographic data enrichment helps marketers to refine their messaging in ways that are more likely to resonate with customers and prospects. By segmenting markets into meaningful groups according to lifestyle, behavioral, or psychographic profiles, you can finetune digital marketing efforts to achieve higher levels of effectiveness.
Why the Right Data Matters
As marketers are increasingly striving to reach global audiences, it can be difficult to source third-party data that conforms to a common standard across multiple geographies.
Precisely offers a robust collection of standardized demographic, geodemographic, and context data designed to help better understand people and the places where they live, work, and do business. These datasets offer information for over 140 countries and territories worldwide, and empower businesses to conduct their analysis at scale. Visualize population counts and characteristics at a nationwide, statewide, census-block, or lifestyle group level, and anticipate and plan for future trends with demographic estimates and projections.
A company advertising on a digital billboard in a busy downtown area, for example, can benefit by understanding the demographics of the people who live and work in the area. Nighttime demographics (based on where people live) are helpful. Understanding the data on the demographics of the area can be even more important. This is especially true in high-traffic areas, including commercial districts. Precisely’s datasets include mobility data that can help marketers to target specific populations with tremendous precision.
Getting A 360° View
Precisely also offers advanced capabilities that enable businesses to match offline and online data for consumers, resulting in a true 360° view of each customer.
Matching online and offline records has multiple benefits. First, it enables marketers to identify and merge multiple records that refer to the same person. This can be especially useful in understanding how consumers interact with different channels. Precisely’s records are accompanied with unique identifiers such as a hashed email address, which can be matched to email addresses associated with customer records in your database, and a Mobile Advertising ID (MAID), which is associated with each user’s mobile device. By linking the data and activities associated with multiple records to a single user, marketers can gain valuable new perspectives into customer behavior.
Using Precisely’s APIs, marketers can even update customer activity in real time. For example, if a customer was targeted with a mobile offer while shopping at the mall, and subsequently made a purchase based on that offer, the advertiser could update their records to reflect a successful response. This kind of data can be used to create campaigns aimed at new “look-alike” audiences with similar characteristics to the mall shopper who responded positively to the mobile offer.
Just as digital marketing represents a quantum leap forward, so too, does the use of demographic data to develop and deliver advertising that is highly personalized to the interests and needs of each audience you serve. To learn more about how Precisely can help you achieve greater marketing effectiveness, watch our on-demand webinar, Defining Digital Audiences with Data.