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The 21st century consumer’s path to purchase meanders through a stream of data and information. In today’s digital world marketers need to understand audiences and apply insights to deliver relevant experiences to their consumers. But that is not as easy as it sounds – Google and Apple are both significantly restricting the amount of information available to marketers by limiting the effectiveness of advertising cookies.
Making informed decisions is now critical for marketers looking to deliver the most impact with their campaigns. Each company’s strategy will vary based on its business goals and their specific audiences, what remains true is the necessity for accurate and actionable data.
Data captured by a company typically only encompasses a few interactions with a digital advertisement or website engagement. Finding more insights on how a consumer interacts with a social media post and mobile app is possible but still we are missing critical pieces of the consumer experience. Building a complete vision requires the integration of all available data collected and will help achieve marketing objectives.
But what if your company does not own those data sources? Partnering with a data specialist, like Drop for Business, will allow you to access that information – developing a more enriched image of the consumer.
Uncovering data insights with a partner comes with many advantages. Drop for Business maintains a growing consumer dataset where members share their transaction data in exchange for monetary reward in the form of Drop points. This data encapsulates all of a consumer’s spend in various categories including competitive retailers, an avenue of data that is typically unknown to a company.
Once a complete view of the consumer is generated it is time to use this information in decision making. Identifying valuable customer segments and applying them to marketing strategies turns insights into valuable actions:
- Personalize customer experiences with audience-level data.
- Segment customer bases to reach specific audiences with custom messaging.
- Analyze marketing channel effectiveness and optimize budget allocation.
Getting a more comprehensive understanding of consumer behavior leads to more effective marketing efforts. In turn, these efforts go on to improve the bottom-line performance of a business. Marketers with integrated technologies are more able to deliver experiences to consumers that delight each time they occur.
How can Drop for Business help?
Integrating more data into your marketing strategies enables you to gain actionable insights that prioritizes your business needs and understands your customers. For the best impact, the sources of the data must be reliable and up-to-date – Drop for Business currently provides a complete view of consumers from a combination of surveys and real-time, first-party data from billions of transactions, to truly understand your customer’s actions and future intent. With all this data in hand, you can be sure to target the right customer, at the right time to supercharge your ROAS.