Earlier this year we explored the types of consumer data available in our article ‘How consumer insights can activate your digital audiences’.
We discussed how piecing together critical information, such as demographics and behavioural data, can dramatically enhance your marketing efforts. But what do you do with this insight once you have it? How can you use it to better target your ideal audience?
In this article, we discuss how you can move past simply understanding your audiences to leveraging that knowledge to drive better advertising performance.
Here’s a quick recap on Experian’s segmentation insights
Experian delivers a range of consumer insights via our market-leading segmentation tools that will help you understand your current and potential customers.
We collate and visualise demographic, behavioural, geographic, and financial information, so you can understand who your customers are, what they like to do, and where and how they buy.
But once you have this wealth of information, what do you do with it?
How does this data help my advertising strategy?
Digital advertising can be a highly effective marketing channel giving the ability to target your outreach and quantify the results.
It becomes easier to ramp up spend in areas that are performing and limit outgoings, or test new content, in areas that are not.
We know consumers expect more personalised experiences on digital channels, so how can you make the most of this valuable opportunity and grow your digital marketing return?
Your newfound understanding of your current and potential customers can be leveraged across your digital marketing journey to drive spend efficiency and improve results.
Consider everything you have learned about your current and potential customers and how this might impact the way you build your digital strategy to get the best results.
Channel preference: What types of media are your ideal customers consuming? What are the best channels to reach them on? Consider targeting different segments on different channels based on where they are most receptive.
High value segments: Segment your target audience based on value – ensure you’re spending your advertising dollars reaching the consumers who offer the best value to your business and exclude lower value segments from your strategy to drive increased spend efficiency.
Buying habits: Do your key segments prefer to shop online or in-store? Does this vary between your different segments? Tailor your content and strategy to drive them to where they are most likely to convert.
Campaign content: Consider the broader interests of your key segments in building your campaign creative and messaging. Consider the products and unique selling points that are most relevant to each segment. If one segment is particularly conscious of their impact on the environment, consider highlighting sustainability messaging; if one segments feels price is more important than quality, show them promotions and discounts.
Upsell and cross-sell: Once you have acquired a customer, use your knowledge of the behaviour of similar customers to promote other products and services they’re likely to purchase.
Context: Consider what the lives of your key customers look like and how this influences their purchase behaviour – Where do they live? Who do they live with? Are they the key decision maker in the household? Do they have kids? Consider how this might impact who you target and what ads you show them. What is most relevant to them? When is it relevant and where?
The more you know about your current and prospective customers, the more you can make smart and efficient decisions to target them across the digital ecosystem and get the best return for your advertising dollars. It’s about so much more than whether or not they are interested in your product or service and the more personalised you can make your advertising strategy, the greater your digital success will be.
Talk to Experian about giving your advertising strategy a new level of clarityGet in touch
Experian Digital Audiences are built directly from our ConsumerView dataset meaning all the insights you have gained on your customers can be easily activated across 70+ Digital, Connected TV and Digital Out of Home channels, such as Samsung Ads and InMobi.
Our market-leading audience taxonomy comprises over 1300 segments of demographic, geographic, financial, property and market research variables, and we use this data to build audiences with impact that deliver higher returns on your marketing spend.
All of which combines to provide a holistic targeting solution for your digital audience.
Whether you’re looking to retarget your existing customers across digital channels, find more customers like them or explore new customer segments, Experian’s Digital Audiences can help.