Delivering personalized customer experiences is essential, with 81% of customers preferring a personalized approach to their relationships with brands. However, 80% of consumers are concerned about how their data is used, presenting businesses with the challenge of balancing data collection and privacy with personalization.
Despite consumer appetite for personalization, many organizations lack the data to make data-driven decisions: 68% of businesses don’t understand how their customers think, and 82% don’t confidently know their customers’ pain points.
Without this critical data, businesses cannot effectively create personalized consumer connections. Experian offers businesses robust and unique data through our Marketing Attributes to empower businesses with the insights required to derive accurate insights into consumers and drive personalized experiences.
How Experian can help businesses with their data acquisition needs through Marketing Attributes
Experian’s Marketing Attributes allow businesses to license Experian’s data attributes in part or full to provide reliable and accurate data solutions. These solutions assist companies in finding, reaching, and influencing their customers. They are supported by rigorous quality and privacy controls which has earned Experian a #1 data accuracy ranking by Truthset helping our clients reach people based on who they are, where they live, and what they do.
Experian has built a strong foundation of consumer behavioral and demographic data with over 5,000 attributes available across over 15 categories and verticals, helping our clients gain deep insights into their consumers. Below we go through five common use cases we have seen using Experian’s data to power various business initiatives.
Exploring everyday use cases for Experian’s Marketing Attributes
1. Understand areas of the country where your products or services are underserved
For instance, a brand offers a diverse range of products that cater to various market segments and audience personas. They seek to gain a deeper understanding of geographic distribution to refine their marketing strategies. Specifically, they aim to identify which market areas are currently underserved, presenting a valuable opportunity for targeted marketing campaigns to boost product adoption in regions that have not fully embraced their offerings.
Utilizing Marketing Attributes from Experian, the brand can access detailed data aggregated at the geographic level. This data provides crucial insights into markets where their products have seen limited adoption yet show a strong potential for success based on the preferences of their target audiences. This approach will help the brand strategically direct its marketing efforts to areas with high growth potential.
2. Better understand consumers who purchase within a category
Brands frequently operate based on assumptions regarding their customers’ preferences and interests, yet they may lack the comprehensive data necessary to substantiate these beliefs.
Experian’s Marketing Attributes provides brands with access to extensive data across 15 diverse verticals and categories. This wealth of information allows businesses to develop a holistic understanding of their customer base, enabling them to validate their assumptions and uncover valuable insights into customer behaviors. By utilizing this data, brands can significantly enhance their marketing strategies, refine their product offerings, and implement personalized tactics that resonate with their audiences on a deeper level.
3. Reach a new segment of the market for a new product offering
Introducing a new product to a new segment of the market presents unique brand challenges. Without any historical customer data to draw upon, companies lack vital insights that could help them identify and reach their target audience. This absence of foundational knowledge makes it challenging to understand consumer preferences, craft suitable messaging, or determine the most effective channels for connecting with potential customers.
To navigate these hurdles, brands frequently turn to Marketing Attributes for consumer research within the new segment. Analyzing demographics, common behaviors within a geographic region, or previous purchase behaviors can uncover patterns and preferences among potential customers. This deeper understanding enables them to create tailored audience models, allowing brands to develop and activate customized messaging based on common interests, identify channels consumers are most likely to engage by using TrueTouch data from Experian.
4. Create custom lookalike models based on your current customers
We have found brands trying to launch an acquisition campaign to look at consumers whose behaviors and interests closely mirror those of their highest-converting customers. However, they often lack the necessary data to find new customers that look like their most loyal base.
To address this gap, they turn to Marketing Attributes in combination with Experian’s Offline Graph or Digital Graph, which allow them to pinpoint and analyze the key characteristics and behaviors that define their top customers and reach these consumers on digital or offline channels. Marketing Attributes power the insights into their client’s behaviors and Experian’s Offline or Digital Graph create the linkage to their customer base. Using these insights, the brand can develop a distinct audience model tailored to reflect their most successful customers’ unique traits and preferences. This customized approach will help them reach potential new customers who will likely engage and convert.
5. Develop unique audience products
We have seen clients use their own first-party data alongside Experian Marketing Attributes and other data sets they own or lease. With Experian’s Offline Graph or Digital Graph, they can connect the different data sources together to create a tailored audience solution that meets the specific needs of the brand’s clients and the requirements of their market segment.
Exploring joint solutions
Combining Experian’s Offline Graph with Marketing Attributes
Many customers use Experian’s Offline Graph with Marketing Attributes to connect Experian’s data to the brand’s offline marketing strategy. Experian’s Offline Graph offers companies a license of stable offline data points, like name, address, phone number, email, geographic, date of birth, and more that provide a complete view of household and individual identities.
Powering use cases like:
- Regional consumer insights for marketing strategy, media activation, product and location planning
- Offline media activation, including direct mail, telemarketing, out-of-home, and more
- Client-driven enrichment
The combination of Offline Graph and Marketing Attributes provides unmatched consumer connectivity, enabling clients to generate custom insights, inform product strategy, and activate marketing campaigns. Offline Graph acts as the link between consumers insights and activation.
Combining Experian’s Digital Graph with Marketing Attributes
The uncertainty around third-party cookies in Chrome and the overall decline in signal complicates the industry’s ability to reach the right consumer. Omnichannel media consumption results in scattered data, making it harder for marketers and platforms to understand consumer behavior and reach them across channels. These challenges call for a comprehensive solution.
Our Digital Graph and Marketing Attributes solution addresses these challenges by providing identifiers for seamless cross-channel engagement. By adding Marketing Attributes, like demographic and behavioral data, marketers and platforms also gain a better understanding of their customers. This solution uses Experian’s Living Unit ID (LUID) to combine offline and digital data, giving customers deeper insights into consumer behavior, greater audience reach, and improved cross-channel visibility.
Transform insights into loyalty with Experian’s Marketing Attributes
Experian’s Marketing Attributes enable businesses to gain valuable insight into their prospects and customers. Through this deeper understanding, they can deliver personalized experiences while successfully navigating the complexities of data acquisition and privacy. This helpful information allows brands to make strategic, informed decisions that enhance their marketing efforts. Ultimately, these insights foster more substantial, meaningful connections between businesses and their customers, leading to enhanced customer satisfaction.
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Distribution via LiveRamp enables seamless cross-device customer experiences through more platforms NEW YORK, Nov. 15, 2016 /PRNewswire/ – Tapad, now part of Experian and the leading provider of unified cross-device marketing technology solutions, today announced an expanded partnership with LiveRamp™, an Acxiom® company and leading provider of omnichannel identity resolution, to make the proprietary Tapad Device Graph™ accessible beyond Tapad-hosted direct integrations. Through LiveRamp, Tapad's Device Graph Access now extends to more than 400 ad tech and mar tech platforms. Tapad's Device Graph™ enables marketers to understand, monetize and measure consumer engagement across all digital channels, and Tapad's unified consumer view is recognized as one of the most accurate, scalable cross-device solutions in the market today. Through the expanded partnership with LiveRamp, the Tapad Device Graph can be distributed to the hundreds of platforms used to reach consumers on digital channels and measure campaign performance – even as devices are added daily to Tapad's extensive graph. "Increasingly, marketers want access to cross-device targeting and measurement capabilities within their preferred platforms," said Anneka Gupta, chief product officer of LiveRamp. "Our expanded partnership makes it easy for marketers to access Tapad's graph through the rapidly growing set of integrations available in our partner ecosystem." This is the latest of several initiatives between the two technology platforms designed to make the integration of cross-screen platforms seamless, privacy-safe and easy to use for dynamic and engaging marketing efforts. "During the past year, Tapad has expanded its global presence and rapidly grown its data business – Tapad Coral – doubling the number of companies integrating our device graph into their platforms and growing our annualized run rate by 210%," said Pierre Martensson, GM of Tapad Coral and APAC. "Our expanded partnership with LiveRamp positions us to meet the increased demand for Tapad Device Graph Access and enable new platforms to apply our graph with unprecedented speed." Contact us today
Cross-Screen Pioneer Explores the Power of Connected Cars as a Vehicle for Customer Engagement LAS VEGAS, NV — (October 26, 2016) –Kate O’Loughlin, GM of Media for Tapad, addressed the J.D. Power Automotive conference audience today in Las Vegas, NV. With more than 1,400 participants representing every facet of the automotive marketing profession, the conference has become the industry's leading marketing event. Bringing the unified, cross-screen perspective to the stage, O’Loughlin discussed the vital role of connected cars in the consumer engagement process. She is a founding member of Tapad which launched the world’s first cross-screen marketing technology in 2010. Tapad was acquired by the Telenor Group early in 2016. Key points from O’Loughlin’s J.D. Power 2016 address included: The marketers who deliver relevant and engaging content in a privacy-safe setting will be in the strongest position to navigate the proliferation of connected devices, including the connected points in cars. As automakers innovate the technology in cars, marketers need to be prepared for the size and diversity of data available for understanding consumers. It’s going to be increasingly difficult to wade through the data, so now is the time to build a solid framework for understanding the person behind the data. Marketers who evolve — and take a holistic approach — to their campaign measurements will achieve marked improvements in efficiency and an enhanced understanding of their core audiences. Actionable brand engagement metrics like Viewable Exposure Time (VET) will continue to overtake traditional advertising performance metrics. VET evaluates the optimal amount of time an ad is present on a screen to incite consumer action. In early testing by Tapad, campaigns that employ VET see conversion rate performance improvements from 13 to 60%. The consumer-centric technology solutions of the future need to be as scalable as they are affordable. Learn more about Tapads’ recommended Viewable Exposure Time metric contact us today! Contact us today
NEW YORK, Sept. 28, 2016 /PRNewswire/ – Tapad, the leader in cross-device marketing technology, today announced a new metric for cross-device marketers, Viewable Exposure Time (VET). Viewable Exposure Time measures across screens and ad formats, identifying the optimal amount of time a consumer spends with an ad before they take action. The announcement coincides with Unify Tech '16, Tapad's third-annual cross-device summit during Advertising Week NY. Frequency caps are currently used to ensure that dollars aren't wasted on redundant ads. Viewable Exposure Time evolves the frequency capping approach to include accelerating a consumer's ad exposure rate up to the optimal time spent with the brand. VET is used in affinity, digital transaction and offline purchase models as a key indicator of marketing budget well-spent. Beta users of VET span every vertical, though interest is especially high from CPG, Automotive, Telecommunications and Retail. Viewable Exposure Time unifies and upgrades marketers' predictors of advertising success by leveraging cross-screen engagement across digital and television, with vendor-agnostic viewability scores for video, rich media and display. "Today's current measurement options, like click-through rate (CTR) and TV gross ratings points (GRP) tell an incomplete story," said Tapad GM of Media Kate O'Loughlin. "Tapad is focused on measuring what really matters to marketers – building an efficient connection with a customer. Innovation in metrics was long overdue." More than just a measurement tool, Tapad also provides clients with VET activation. Factoring in time spent with ads in viewable seconds and minutes, these analytics inform marketers about which audiences are underexposed, enabling them to adjust campaigns and deliver according to optimal viewable exposure time. This effectively increases conversion rates at the lowest cost. Contact us today