Identify the right customers

Over the last few months, Experian has released new syndicated audiences to most major platforms supporting retail and travel. In this blog post, we’ll highlight some of these new audiences and how they can be used with other data from Experian to build the perfect audience to reach your customers and prospects. Household Expenditure audiences We’ve created new predictive audiences to help retailers reach consumers across 35 categories likely to spend within that category. A few categories include Apparel, DIY, Health, and more.  With the launch of these new audiences, we will retire our existing Household Consumer Expenditure, Online and Retail category audiences in the November Digital Master update. Who these audiences are for Our Household Expenditure audiences use data from multiple sources, providing brands with highly accurate purchase predictions and data that scales for digital execution. Household Expenditure audiences are an excellent solution for brands with new product lines or where targeting based on historical purchases lack signal brands seek. Building data from multiple data sources helps ensure high performance and accuracy and can illuminate trends in consumer shopping patterns. These trends can be used to help predict future shopping behaviors. How to refine our Household Expenditure audiences To refine your audience, you can combine this data with Experian’s demographic and household expenditure audiences to ensure you are reaching consumers. For example, suppose you’re an apparel brand launching a new line aimed toward women over the age of 40. In that case, you can use Experian’s demographic data to reach those women and layer in our household expenditure purchase predictor segment for women's apparel to reach their new target audience. Mobile Location audiences We’ve expanded our location database to include more locations and points of interest. With this new data, we could strengthen our existing mobile location audiences to broaden the reach, improve accuracy, and increase performance. We’ve created 11 new mobile location audiences with our new dataset that supports the retail and travel verticals. These new audiences include new shopping behaviors, including high-income and high-end shoppers and travel and entertainment behaviors, including visiting sporting arenas like MLB, NBA, NFL, and university stadiums. Who these audiences are for These audiences are for brands that want to reach consumers based on their location behaviors. Often valid for retail, travel, and entertainment brands, Mobile Location audiences provide brands with highly accurate data that shows previous intent and interest in critical locations. How to refine our Mobile Location audiences To refine your audience, you can combine your Mobile Location audience with Lifestyle and Interest data. For example, if you are creating an advertising campaign for a hotel near a university stadium for the largest game in the season, you could combine university stadium visitors with sports enthusiasts and in-market for travel to find consumers most likely to be interested in your campaign and staying at the hotel. Purchase-Based Transaction audiences For use cases where predictive audiences aren’t the best fit to reach the right consumer, such as targeting consumer’s historical purchases, we’ve created new purchase-based transaction audiences that utilize opt-in consumer transaction data across 29 retail categories, including apparel, home, lifestyle, health, food and beverage, and more. Who these audiences are for These audiences are a perfect fit for brands trying to reach consumers based on previous purchases. These audiences can be broken out by their spending patterns –   frequency of purchase and high spenders – and their response to advertising, including direct mail, email, inserts, and digital. How to refine our Purchase-Based Transaction audiences Combine these new audiences with Mosaic to fine-tune your audience based on their purchasing and lifestyle patterns.  Suppose you are a brand with a new line of home décor products launching and will utilize influencers to endorse your product line. In that case, you can use Experian’s purchase-based transaction audiences for high spenders in home décor and layer our Mosaic audience Influenced by Influencers to find consumers who are most likely to purchase and trust an influencer. We can help you discover and activate your perfect audience Our audiences are available in most major data and execution platforms. Visit our partner page for more information. Don’t see our audiences on your platform of choice? We can help you build and activate an Experian audience on the platform of your choice. Contact us Latest posts

It's back-to-school season. Knowing your target audience is an essential piece of planning a successful back-to-school marketing campaign. To get the most out of your marketing investment this back-to-school season, it’s important to understand how to identify and segment back-to-school shoppers so you can make sure that the right message reaches the right group at the right time. In this blog post, we'll cover how you can segment your target audience to create and deliver custom messaging tailored to individual groups. We'll discuss segmentation methods that uncover: Who they are Where they live What type of person they are How they behave and spend Here are our tips to accurately define and target your back-to-school marketing audience. Maximize back-to-school marketing with customer segmentation Customer segmentation is the process of dividing your audience into smaller groups based on common characteristics such as demographics, behaviors, psychographics, geographics, and more. The purpose of customer segmentation is to create a more personalized and effective approach to marketing. By understanding the unique needs and preferences of each segment, you can tailor your messaging, campaigns, and content to resonate with your customers on a deeper level. Benefits of customer segmentation Three benefits of customer segmentation include: Improved audience targeting Higher engagement rates Increased ROI Instead of addressing your entire customer base with generic messaging, segmentation enables you to deliver custom campaign messaging that speaks directly to each group. This personalized approach helps build trust and loyalty with your customers over time. Customer segmentation also allows you to better understand your customers, their motivations, and pain points, ultimately leading to more effective marketing campaigns. Types of customer segmentation When it comes to segmenting your customers, there are several methods to consider. By experimenting with different approaches, you can find the best fit for your business. Keep in mind that the most effective customer segments will differ depending on the industry. Let's review four types of customer segmentation that you can implement as part of your back-to-school marketing strategy. 1. Demographic segmentation Demographic segmentation categorizes consumers into groups based on shared demographic characteristics such as age, gender, income, occupation, marital status, and family size. For example, targeting college students during the back-to-school season with promotions on laptops is likely to be more effective than targeting retirees who may have less interest in such products. 2. Behavioral segmentation Behavioral segmentation divides customers into groups based on their demonstrated behaviors. This method sorts customers by their knowledge of products or services, attitudes toward brands, likes/dislikes about offers, responses to promotions, purchasing tendencies, and usage of products/services. Behavioral segmentation can help you identify the highest-spending customer segments, so you can budget and target more effectively. Through this type of segmentation, you can analyze each group's patterns, discover trends, and plan informed marketing moves for the future. In a back-to-school campaign, you could use behavioral segmentation to identify students who prefer to shop locally. You could then target students who value supporting local businesses and emphasize the importance of buying from local retailers during the back-to-school season. 3. Geographic segmentation Geographic segmentation involves dividing your target market into groups based on their physical locations. Geographic segmentation reveals aspects of a local market, including physical location, climate, culture, population density, and language. In a back-to-school campaign, you could use geographic segmentation to identify target audiences in colder climates who may be more interested in winter clothing and gear. You could also use geographic segmentation to target students living in college towns with messaging that speaks directly to campus life. 4. Psychographic segmentation Psychographic segmentation groups customers based on psychological factors such as lifestyle, interests, personality, and values. In a back-to-school campaign, you could use psychographic segmentation to target students who value sustainable practices, promote eco-friendly products, or offer incentives for recycling and reusing items. Watch our 2024 video for tips from industry leaders for back-to-school In our new Q&A video with Experian experts, we explore changing consumer behaviors surrounding back-to-school shopping in 2024. ​ In the video, we discuss: Anticipated shifts in consumer behaviors and shopping habits​ Tactics we predict marketers will employ to navigate signal loss Which channels will be the most successful And more! Watch now Latest posts

As Earth Day approaches, it’s the perfect opportunity for marketers to explore innovative ways to engage with eco-conscious customers. With a strong and growing interest in sustainable business practices worldwide, green audiences are becoming increasingly influential. In addition to being good for the planet, engaging these customers is great for any brand or organization striving to become more eco-friendly and socially responsible. By taking advantage of this timely event and using appropriate tools, you can create personalized campaigns that will both promote your brand and increase customer loyalty. Eco-conscious audiences In this blog post, we'll cover three eco-conscious audiences to target this Earth Day: Solar energy GreenAwareTM Electric vehicles Solar energy Our first eco-conscious audience is Solar energy. Consumers in this audience show an inclination toward harnessing the power of the sun as a clean, renewable energy source. Our audience data can provide valuable insights into the Solar energy consumer base, including their age, education level, occupation, household income, and communication preferences. Let's explore these metrics to better understand how to reach this group effectively. Age and living situation Consumers in our Solar energy audience are more likely to live in a home with two or more adults and are between the ages of 45-74. Education level and occupation Consumers in our Solar energy audience are more likely to have graduated from college or graduate school and work in management-level occupations. Household income Consumers in our Solar energy audience have household incomes of more than $75,000 and their homes are valued at over $550,000. Preferred engagement channels Consumers in our Solar energy audience are most receptive to ads served through digital channels like digital newspapers and email. Solar energy audience pairings Consumers in our Solar energy audience also belong to three of our Mosaic® USA groups: Power Elite Flourishing Families Booming with Confidence Our consumer segmentation portal of 126 million households and 650 lifestyle and interest attributes empowers marketers like you to precisely target your ideal audience and communicate with them on a personal level. Mosaic’s data segments the U.S. into 19 overarching groups and 71 underlying types, giving you the insights needed to anticipate the behavior, attitudes, and preferences of your most profitable customers and communicate with them on their preferred channels, with messaging that resonates. Learn more about Mosaic GreenAware Our second eco-conscious audience is GreenAware. GreenAware segments the 126 million U.S. households within Consumer View into four distinct groups. Each group differs in their attitudes and behaviors toward purchasing products that are environmentally safe and working with companies that are eco-conscious. We created these groups using an enhanced application of traditional statistical clustering techniques based on environmentally relevant measurements in Simmons' National Consumer Study. Based on the distinctive mindset of consumers toward the environment, you can learn how environmental concerns fit into their lives through four major consumer segments: Eco-Friendly Enthusiasts Sustainable Spectators Passive Greenies Eco Critics Let's dive deeper into each group to understand their unique perspective on the environment and how this impacts their attitudes and behaviors. Eco-Friendly Enthusiasts This eco-conscious segment prioritizes a green lifestyle and takes pride in avoiding products that harm the planet. With traditional and liberal values, they embrace optimism and prioritize family. With their children out of the house, they take the time for some well-deserved rejuvenation and are committed to a healthy lifestyle. Some members of this group are transitioning into retirement and welcoming a new chapter in their life. Mature adults and retirees College graduate or more Above average income May be married or single Typically own their homes Sustainable Spectators This segment aspires to be more sustainable, but they struggle with translating their green ideas into action. They have a soft spot for a cozy home. While their love for interior design and taking care of their own space is evident, they're always looking for new experiences and opportunities to learn. Staying healthy and active is a top priority for this group, so it's no surprise that they're always looking for ways to stay fit and feel their best. Established and mid-life adults College graduate or more High income Typically married Likely to own their homes Passive Greenies This is the largest and one of the most youthful groups. Known for their love of exploration and self-discovery, they may not have fully embraced eco-conscious behaviors yet, but they are eager to stay current with the latest technology and trends. With their incredible ability to multitask, they're always on-the-go, and constantly seek the next best thing. Mainly young adults and diverse Education ranges from high school through some college Below average income More likely to be single or divorced Typically rent Eco Critics This group is not likely to be eco-conscious and may have negative attitudes about the environment. They are confident, driven, and focused on their personal growth. They crave instant gratification, seeking out quick and easy solutions to their everyday decisions. They place a high value on entertainment, their social life, and carefully curate their image. Young and established adults Education ranges from high school through post-graduate studies High income Married or single Typically own their homes Let's take a look at how the GreenAware segments stack up against each other in terms of age, household income, education level, and media preference. How do they compare? Let's find out. Age Consumers in the Eco-Friendly Enthusiasts segment are the oldest of the four GreenAware segments – about half of the consumers are 65 or older. Eco Critics are the youngest segment, with over half of consumers in this group between ages 25-44. Household income Sustainable Spectators and Eco Critics are the wealthiest GreenAware segments. The average household income of consumers in these segments is above $100,000. Passive Greenies have the lowest household income, with a majority below $50,000. Education level and occupation Passive Greenies are more likely to work Blue Collar jobs and have the lowest level of education. As the wealthiest segments, Sustainable Spectators and Eco Critics have the highest levels of college degrees and work in management, business, and financial operations. Eco-Friendly Enthusiasts are the most likely to be retired and out of the workforce. Preferred engagement channels Streaming TV is the preferred engagement channel for all GreenAware segments. Eco-Friendly Enthusiasts prefer digital channels like digital newspapers, mobile SMS, and email. They also engage with traditional channels like direct mail and newspaper. Passive Greenies have a high preference for digital display, mobile SMS, digital video, broadcast cable TV, and radio. Eco Critics have a high preference for digital channels like digital newspapers, mobile SMS, and digital display. Sustainable Spectators strongly prefer digital newspapers. They don't show as strong of a preference for mobile SMS and digital display as Eco Critics and Passive Greenies. GreenAware audience pairings Six of our Mosaic groups have at least one GreenAware segment with 10% or more of the population. For more precise targeting, below are suggested Mosaic audiences you can pair with each GreenAware segment: Eco-Friendly EnthusiastsSustainable SpectatorsPassive GreeniesEco CriticsBooming with ConfidencePower EliteSingles and StartersPower EliteAutumn YearsBooming with ConfidenceGolden Year GuardiansSuburban StyleGolden Year GuardiansSingles and Starters Electric vehicles Our third eco-conscious audience is electric vehicles. Electric vehicles (EVs) are having a major moment in the automotive industry. This is no surprise given that new EV models are being released and an increasing number of charging stations are popping up around the country. As EVs become more prominent, it's essential to stay up to date on relevant trends to make informed decisions about what lies ahead. The demand for electric vehicles (EVs) is on the rise Consumers are embracing the EV revolution, showing their desire for a cleaner, greener future. Automotive marketers are increasingly looking to reach in-market EV shoppers and current alternative fuel vehicle owners due to the growing availability of electric vehicles, improved infrastructure, and rising popularity. In 2022, EVs charged up the market and accounted for a remarkable 6% of new retail registrations. While Tesla continues to dominate the EV market, Ford, Chevrolet, and Hyundai are starting to compete, each holding more than 3% of the market share of new retail EV registrations. Geography Where are we seeing the most new retail EV registrations? The top designated market areas (DMAs) for new retail EV registrations are mostly located in heavily populated, coastal cities like Los Angeles, CA and New York, NY. The fastest growing DMAs, however, are in smaller cities like Tucson, AZ and Oklahoma City, OK. Generational demographics Gen X and Millennials make up the largest percentage of new retail EV buyers at 37.5% and 34.4%. Gen Z and the Silent generation represent the smallest shares at 5% and 2.1%. Boomers hover between Gen X and Millennials' share and account for 20.6% of new EV retail purchases. EV audience pairings Our top five Mosaic groups for new EV buyers include: American Royalty Cosmopolitan Achievers Philanthropic Sophisticates Couples with Clout Fast Track Couples How to target consumers in-market for electric vehicles We offer 70+ audiences that are focused on likely buyers and owners of EV and plug-in hybrid (PHEV) vehicles. We also offer a subset of 28 audiences focused on individual EV/PHEV vehicle models. Below is how you can find a few of these audiences on-the-shelf of most trusted advertising platforms: Autos, Cars, and Trucks > In Market-Fuel Type > Electric Autos, Cars, and Trucks > In Market-Fuel Type > Used Electric Autos, Cars, and Trucks > In-Market Make and Models > Tesla Autos, Cars, and Trucks > In-Market Make and Models > Chevrolet Bolt EV We can help you reach eco-conscious consumers Earth Day is a great opportunity to get creative with your marketing efforts with our three eco-conscious audiences: Solar energy, GreenAware, and electric vehicles. To find out how you can add eco-conscious audiences to your marketing plan, contact us. Get started today Latest posts

A successful back-to-school campaign strategy starts with identifying the key audience segments to target. Over half of all searches related to back-to-school happen within a select group of consumers - knowing which ones can go a long way in forming an effective marketing strategy. Focus on this smaller, targeted set to maximize your efforts. With over $72 billion projected in total U.S. back-to-school retail sales this year, you can capture more spend than ever before during this big shopping season by tailoring your strategy to a smaller set of targeted shoppers. Experian data can help you make the most of your back-to-school campaigns by uncovering the top five back-to-school audiences. Five audience segments for 2023 Our data provides key insights into who these shoppers are and how to reach them, allowing you to create personalized content tailored to their needs. What are the top five audiences you should add to your 2023 back-to-school campaign? High-Net-Worth Households Bilingual Multi-Generational Households Suburban Savvy Shoppers Young Suburban Families Tech-Savvy Families What do these audiences look like? Who are they? Where do they shop? Let's review each audience in a little more detail. High-Net-Worth Households This group consists of households with above-average income and education levels. They often lease luxury cars, purchase products in every channel, travel extensively, and are philanthropic supporters of the arts. Key features Wealthy Highly educated Lease luxury cars Purchase products in every channel Travelers Philanthropic supporters of the arts Bilingual Multi-Generational Households Large households in multilingual neighborhoods, filled with married parents and their kids. They are financially cautious, bilingual, and participate in team sports. Key features Bilingual Large households Married with kids Financially cautious Team sports Suburban Savvy Shoppers Middle-aged couples and families who earn above-average incomes, maintain active lifestyles, and spend their money on quality home products and furnishings. Key features Affluent Athletic activities Home products & furnishings Sporting goods High-priced children’s clothing Young Suburban Families This segment includes households in the middle child-rearing stages of life, typically with a dual income household and multiple children of school age. They typically have spacious single-family residences in suburban neighborhoods that are slightly above average in housing values. On weekends, these suburban young families often engage in activities like skateboarding, biking, and video games with their children. Key features Comfortable lifestyle Children’s games Wholesale members Family-centric activities Tech-Savvy Families Highly educated, affluent couples in their peak earning years, with a preference for both traditional and digital media, who live in upscale housing and are savvy investors and environmental philanthropists. Key features Highly educated Affluent Upscale housing Savvy investors Environmental philanthropists Tech apprentices Watch our 2024 video for tips from industry leaders for back-to-school In our new Q&A video with Experian experts, we explore changing consumer behaviors surrounding back-to-school shopping in 2024. ​ In the video, we discuss: Anticipated shifts in consumer behaviors and shopping habits​ Tactics we predict marketers will employ to navigate signal loss Which channels will be the most successful And more! Watch now Latest posts

In our last few blog posts, we’ve talked about customer segmentation and different ways to segment your target audience into smaller chunks like demographic and psychographic segmentation to connect with the right people. Customer segmentation enables marketers to focus their marketing efforts on their target customers, improving their marketing targeting strategy. But what if there was a subset of users that had an even bigger impact when targeted? Enter Super Users - the strategic players who can give your ROI numbers a major boost! It may take some trial-and-error testing to pinpoint these super segments accurately, but knowing how these key individuals interact is essential for any successful marketing targeting strategy. What is a Super User? As technology progresses and media consumption grows, a unique group is rising to the top. Activate Consulting's Technology & Media Outlook 2023 found that Super Users are powering the digital world, with a strong presence across all major media and technology verticals. This select crowd is made up of young, educated individuals who lead affluent lifestyles – spending more time and money than any other user group! Why should you add Super Users to your marketing targeting strategy? Super Users are a highly influential audience with the potential to drive major business growth. They stand out from other users in their commitment and dedication across four key areas: Time spent with mediaSpendTechnology and media adoptionEmerging eCommerce behaviors “Over the next years, the imperative for technology and media companies will be to identify, reach, and super-serve Super Users – the single group of power users whose time and spend far surpass those of other users.”Activate consulting's technology & media outlook 2023 You can use Super Users as a subset of your marketing targeting strategy. While you may need to reach beyond Super Users to achieve your goals, it’s worthwhile to consider: Targeting them separatelySpending more on mediaReaching them at a higher frequency Time spent with media Super Users make a powerful impact, despite comprising only 22% of the U.S. population. They are incredibly influential in terms of media consumption and engagement – spending more than double the amount of time interacting with content compared to other users. Inclined to multitask Super Users take multitasking to the next level. Not only do they spend more time with electronics, but they excel in the art of juggling multiple activities. While watching videos and playing video games on one device, Super Users might also be busy engaging with social media on another. This makes them an unstoppable force when it comes to getting the most out of their digital experiences! High share of dollar spend Super Users are big spenders when it comes to media, particularly in gaming and music. Compared with all other users, Super Users' average video spend is close to triple the amount ($76 vs $27). However, their biggest increases come from gaming and music; they're collectively spending 12x more on games and shelling out 21x as much for tunes! With 60% of eCommerce spend coming from Super Users, they are driving the industry forward with their enthusiasm and willingness to test out cutting-edge shopping trends like buying through social media, live streaming purchases, and trying on products virtually. Super Users are setting the tone for this dynamic industry. Technology and media adoption Most Super Users are brand advocates. They’re trendsetting individuals who stay ahead of the curve on media and technology. They eagerly take advantage of new products, services, and data-sharing opportunities to receive tailored ads that fit their lifestyle. Crypto & NFTs Super Users blaze the trail for cryptocurrency and non-fungible tokens (NFTs)! This group is five times more likely to explore, engage with, and embrace new digital-monetary technologies. Pioneers of the Metaverse As Metaverse usage continues to rise, Super Users are leading the way. Over 80% of these trailblazers have embraced these digital spaces within just the last year. We’re seeing accelerated interest from them as they seek out new opportunities for creativity, connections, and transactions within their favorite Metaverses. Many express interest in Metaverse experiences such as purchasing physical items to creating virtual havens. In fact, they’re 5x more interested in all things meta-related! How Experian can help you identify and target Super Users So how can you find your Super Users and include them in your marketing targeting strategy? Whether you want to build or acquire highly addressable audiences, we can help you precisely reach the right individuals and households in any channel you desire with Consumer View. Consumer View It all starts with data. Delivering the right message in the right place at the right time means truly knowing your prospects and customers as individuals - their lifestyles, behaviors, and shopping preferences. Consumer View data can provide a deeper understanding of your customers. Consumer View is the world’s largest consumer database that contains over 3,900 attributes for 250 million adult consumers in the U.S. with coverage of 126 million (98%) of U.S. households. Consumer View can help you find out: What do your customers look like?What do your customers do?How and when should you reach your customers?What motivates your customers? Modeled and syndicated audiences We have over 2,500 pre-built audiences that are privacy-safe and built using advanced data science and the most comprehensive consumer data available. These digital audiences are readily available via major publishers, data management platforms (DMPs), advanced TV operators, and demand-side platforms (DSPs). Our pre-built audiences can be used consistently across multiple distribution partners – making sure you can quickly find the right audience for the right campaign without having to build your own consumer personas. In addition to being available as digital audiences, our segmentation products are also available to use across all consumer touchpoints to enable consistent omnichannel campaign targeting. There are infinite data combinations and selections we can help you with for optimal audience targeting. Using our comprehensive inventory of data, we can find even the most unusual of audiences to help you connect with new prospects. From demographics to behavioral and psychographic information, we draw on a massive base of knowledge accumulated during five decades in business. Mosaic® USA Experian’s Mosaic® USA is a household-based consumer lifestyle segmentation system that classifies all U.S. households and neighborhoods into 71 unique types and 19 overarching groups, providing a 360-degree view of consumers’ choices, preferences, and habits. Using Mosaic lifestyle segmentation, you can anticipate the behavior, attitudes, and preferences of your best customers and reach them in the most effective traditional and digital channels with the right message in the right place at the right time. Tailored Segmentation uses a sophisticated data-driven clustering system that leverages the 71 Mosaic types that match to first-party data like yours. Tailored Segmentation allows you to regroup Mosaic types based on the attributes you weigh as more impactful to your business. Have you designed your own segments in-house? You can apply Tailored Segmentation to those segments for deeper insights through a tailored analysis. Are you still looking for a way to segment your market even though you understand your typical best customer? Tailored Segmentation can weigh these attributes and develop a custom clustering and analysis of your market. We can help you find your Super Users Super Users are an important segment of any market. Marketers need to be able to identify them quickly and act upon their insights. Our marketing solutions provide the necessary data and analytical capabilities to easily find and target your potential Super Users for an effective marketing targeting strategy. With Experian, you can deliver messages that are more in line with what matters to this influential group of customers. We understand how challenging it can be to find these customers and ensure they get the tailored, personalized messaging they deserve - so let us help you do just that! We can provide deep insights beyond the generic customer persona that allows marketers to look into the effectiveness of their marketing strategies from multiple angles. We want to help you gain an edge over your competitors by helping you identify, target, and engage Super Users for increased revenue growth. Ready to find your Super Users? Enhance your marketing targeting strategy today! Sources Activate Technology & Media Outlook 2023. Activate Consulting. Latest posts

With the long-term effects to the economy unknown, many consumers are feeling the financial impact, while others are looking for opportunities, resulting in a transformational shift in spending. Some brands are experiencing decreased or paused marketing budgets, and you may be trepidatious about making the right decisions in your efforts to grow share of wallet. Recent events have been an impetus for change and we’re seeing brands make modifications to traditional marketing strategies. Some are developing innovative technologies and utilizing new sources of data and analytics. As we look at how these changes impact marketing results, we see the gap grow between those brands who are equipped to pivot and implement new strategies quickly, versus those who are not. So what steps can your organization implement now to make the smartest choices for both your customers and your business to secure more share of wallet? Here are four ideas to accelerate the success of your next financial marketing campaign: 1. Meet your customers wherever they are: Digital-first strategies have never been more relevant than they are right now. While consumers have fully embraced online engagement, marketers are even more focused on reaching high-value segments in the channels they utilize. By using an informed, data-driven strategy that includes preferred marketing communication channels and decision-making styles, engagement increases across those channels your target audience frequents the most. For example, are they heavy social media users? Do they prefer streaming TV? Or do they tend to rely on financial advice vs. performing their own research? To drive take rates, your audience must be exposed to a tailored message, in the right channel, and possibly multiple times. 2. Use messaging that resonates: As consumers refocus priorities, their expectations of brands with whom they do business are ever-increasing. Reflecting an understanding of the current needs and interests of your customers and prospects is an undertone that can only help strengthen their view of your brand. Consumer behavior has changed and is unlikely to revert to what was, so you want to be relevant, but you also do not want to be seen as ‘tone deaf’. As a result, consider revising your segmentation strategy to leverage predictive insights, such as household economic indicators, financial behaviors, lifestyle propensities and interests to help shape your message into one that truly makes an impact. 3. Prove the worth of your campaign: New consumer journeys are being formulated and showing ROI is imperative as your marketing budget is scrutinized. Having the right industry-relevant metrics and reports to analyze and share with leadership are key. Demonstrate that your campaigns are contributing to bottom-line success—and justify future campaigns—by using data-driven measurement insights collected across multiple reads and countless touchpoints. Marketing budgets are being scrutinized now more than ever, so showing ROI is critical. Having the right metrics and reports to analyze and share with leadership are key. 4. Follow government regulations—leverage Fair Lending-friendly audiences: Whether you’re cross-selling or prospecting, now is the time to identify the right audiences with rich data insights to not only execute impactful campaigns but adhere to government regulations that protect consumers and your organization. Trusting that the data you are activating follows Fair Lending Laws, including the Equal Credit Opportunity Act (“ECOA”) and the Fair Housing Act (“FHA”) is crucial. The Federal ECOA prohibits creditors from discriminating against credit applicants on the basis of several prohibited factors. Developing people-based segments that are not derived using these factors positions you to follow these regulations. Check out our previous blog post about Fair Lending-friendly audiences here. As you transition to new operating models, access to current and accurate consumer data can provide confidence in campaign potential, help you avoid business risk, enable you to respond to market changes and make better decisions. Experian can help you implement these strategies and put your brand unique position for growth. From start to finish, we provide the marketing solutions you need to plan, build and execute successful, Fair Lending-friendly campaigns to cross-sell to existing customers and acquire new customers. Learn more about Experian’s financial services marketing solutions here. *Experian Fair Lending-friendly audiences do not constitute legal advice or otherwise assure compliance with the FHA, ECOA, or any other applicable laws. It’s recommended to seek legal advice with respect to the use of data in connection with lending decisions or application and compliance with applicable laws.

There’s no question that COVID-19 has changed the shopping landscape forever. While the initial onset of quarantines and lockdowns negatively impacted brick and mortar retailers, online shopping soared to levels higher than 2019’s Black Friday/Cyber Monday extravaganza, accounting for $153 billion in spending over April and May1. Many consumers will continue to shop online for the foreseeable future for various reasons, which means marketers must have a greater focus on providing a positive online customer experience. Despite MSN Money’s claim that COVID may have made holiday shopping extinct2—in part because retailers such as Walmart, Target, Best Buy and more are keeping their doors closed on Thanksgiving—it turns out that’s not the case. According to polls taken by Chain Store Age, the pandemic hasn’t impacted consumers’ holiday spending plans, but it has affected how they intend to shop. This sentiment is echoed by Radial, who shared that 60% of consumers plan to shop less in-store this season. Even so, Salesforce noted that respondents to their poll found that consumers value safety and health above all else in their in-store shopping experiences, with 60% stating that social distancing measures were important to them3. So how can you navigate this new shopping normal and make the most of the 2020 holiday season? 1. Leverage data to strengthen communicationsData has always been an important component to a successful marketing plan, but it’s even more important now that shoppers are scattered across multiple devices and shifting their preference from offline to online—or a hybrid of the two. Connecting consumer identities across devices and channels means you can reach customers more effectively, promoting events, items and experiences that are most relevant to them on the channels they frequent most. You can also leverage mobile location data to understand consumer traffic patterns, including understanding which competitors they may visit. Not only will this help you to anticipate their behaviors, but you’ll learn more about their habits and preferences, which in turn helps you to craft messaging that speaks directly to their needs—and encourages their loyalty. 2. Be transparent in your messagingBrick and mortar holiday shopping isn’t totally out of the question this year, it’s just going to look a little different. If you’re still offering customers an offline experience, be open and honest with them about what they can expect. Use your outreach to share information about how you’re protecting employees, sanitizing the store, and making for a safer in-store experience so your customers feel comfortable walking through your doors. (The NRF has excellent resources to help you navigate this as required by state guidelines.)Also, let them know if there are any changes to shopping policies, such as wearing masks, contactless payment, the number of people allowed in the store at one time, return windows and more. The more transparent you can be in your messaging, the more comfortable customers will feel in keeping you in mind for their holiday shopping plans. And if your online business is booming, make sure you communicate any changes in fulfillment or shipping due to safety measures or delivery delays. This will be important messaging to those who may not be traveling to see family this year and are shopping online to have gifts shipped to their loved ones. 3. Offer positive new experiences and perksWhether you’re online or offline or both, customers will feel encouraged to shop when you offer them a little something extra to help make their shopping experience more enjoyable. Curbside pick-up has become an important aspect of this new normal in retail, so make sure you share with your customer whether that option is available to them. If “try before you buy” isn’t available like it may have been in the past, see what you can do to offer a similar experience—for example, many fashion retailers are offering virtual styling services that allow customers to connect with an expert for further insight on fits and cuts that may work for them (or the friends and family they’re shopping for). Some home furnishing retailers provide the ability to “visualize” an accessory or piece of furniture in your home.Free gift-wrapping services are always appreciated, as are in-store experiences for shoppers with kids (but they must be socially distant, of course). Be creative and use data to help inform your decisions so you can create perks and experiences that will really connect with your customer. Even with new challenges, retailers have the opportunity to offer a positive shopping experience through the holiday season and beyond, whether online or offline. And given the stressors of the season, it’s likely consumers will be shopping for themselves as much as they’re shopping for friends and family. As Business Insider put it, “…retailers will need to be more targeted and creative in their approach to Black Friday to get customers to spend,” and having the right data will be key. Download our new Holiday Marketing eBook for trends, tips and tricks to help you plan and execute powerful holiday marketing campaigns.   1https://theblog.adobe.com/online-shopping-during-covid-19-exceeds-2019-holiday-season-levels/ 2https://www.msn.com/en-us/money/companies/covid-19-may-have-made-thanksgiving-day-holiday-shopping-extinct/ar-BB17fmtm 3https://www.zdnet.com/article/covid-19-has-permanently-changed-shopping-behavior/

2020 has been a year of change and challenges for businesses and consumers alike. With the global pandemic, we have seen stay at home orders put in place, a shift to work from home for many, major events canceled, schools shifted to online format, graduations and other end-of-year activities canceled, and more. As we move through the phases of reopening, everyone is figuring out how to navigate the ‘new normal’ in the wake of new safety requirements, businesses are working to determine what their day-to-day operations will look like as they reopen. The changing times have implications on how consumers act, what and how they purchase, and how they manage their daily lives. With these changing times, consumers are quickly adapting their lifestyles which impacts the choices they make on how they shop, bank and provide for their families. Businesses across the United States are trying to understand how consumers are feeling during this time and how that might correlate with their visitation patterns. Using Experian’s Mobile Location data, coupled with Consumer Sentiment data, we looked at foot traffic and sentiment trends in the retail space throughout the pandemic. As you can see from the chart, there has been a steady increase in household visits to retail locations since March that correlates with the rise in sentiment. Note the differences in visitation patterns across the regions. You can see some foot traffic spikes, which correlate to reopening phases in several states during the week of May 4th and Memorial Day weekend. However, you see a lower average of foot traffic in the Northeast U.S. where reopening phases are rolling out at a slower pace. It is going to be essential for businesses to craft marketing strategies on a regional level as guidelines for reopening are the state-level. This means that a business’s consumers look different based on where they are located and might require more targeted and sensitive messaging. For example, using Experian’s Mosaic segmentation, we further delved into what consumers look like today by analyzing those Mosaics who have the most positive change in regard to the pandemic, versus those that had the most negative. You can see in the charts that there is a significant difference between the Mosaics trending positively versus those trending negatively. Consumer segments have drastically different sentiment, and foot traffic patterns and understanding how your consumers are feeling and where they are shopping will help improve your  ROI. Having a comprehensive and targeted marketing plan will be essential for companies as they navigate the intricacies of reopening. Experian’s Reopening Package allows brands to take a phased approach to better understand and reach both new and existing customers through targeting, analytics and key insights. Companies can analyze their consumers’ sentiments and visitation patterns during the pandemic, segmented by Experian Mosaic® lifestyle segmentation group. Businesses can then take those insights and apply them to other models, or create their own models, to build out and run effective marketing campaigns that target current and prospective customers. A successful long-term marketing strategy needs to be data-driven, leveraging data and analytics to help craft targeted messaging. We can see that consumers want to shop again – foot traffic patterns appear to have increased since June, and sentiment is up – now it is necessary to understand where your customers fit into the spectrum.   Missed our recent webinar, How COVID-19 Has Shaped Consumer Behavior for Retailers? Access the on demand version here.

With the growth of digital marketing and the targeting capabilities associated with online outreach, many predicted that this would mark the end of direct mail advertising. But if Millennials have anything to say about it, that’s not going to happen anytime soon. Yes, believe it or not, Millennials are driving the resurgence of direct mail advertising, and many leading brands are now pivoting their omnichannel marketing plans to include direct mail. And with the USPS reporting more than 75.7 billion in marketing mail volume in 2019, this trend shows no sign of slowing down. Including direct mail in your plans may give your brand a better chance of reaching your audience. Why? 1. Millennials actually like getting mail.While most of us have decried “junk mail” as being environmentally unfriendly or just a pain to deal with, Millennials actually enjoy physical mail. Valassis recently cited research from USPS Customer & Market Insights stating that Millennials spend the most time sorting mail (about six minutes compared to the average, which is four minutes), plus they’re opening mail and reading it (at eight minutes versus the average of seven minutes). Valassis also conducted a study that showed that 68% of Millennials read print ads or inserts from retailers, and 64% prefer getting them through the mail. So, while digital outreach may be convenient, it hasn’t completely decimated the desire for that old-school, hands-on experience of opening and reading something that’s addressed to you. 2. Millennials respond to a multi-channel approach.Oftentimes, marketers think of omnichannel as being a combination of digital and TV, but when you add print into the mix, it can make an even bigger impact on Millennial audiences. Valassis found that 60% of consumers are more likely to make a purchase after seeing an ad when it’s presented across both offline and online channels, while 72% of Millennial parents say print ads encourage them to go online and make a purchase from that retailer. 3. Millennials think physical mail makes for a more personal approach.You’d think that e-mail would feel more personal, but with the influx of spam most people get, that’s just not the case. In fact, 67% of people see physical mail as being more personal than an e-mail, with seven out of 10 saying they prefer receiving actual mail over digital mail. And for marketers looking to make a one-to-one connection, this is music to their ears. With changing marketing plans, the mailbox has less competition than the inbox.   Getting a catalog at their door with the perfect offer at the perfect time helps the marketer make the direct connection. 4. Direct mail lasts longer than digital mail.That may seem like an obvious statement, but there’s more to it than you think. When an e-mail arrives in someone’s inbox, it’s easy to ignore it, read the subject line and forget about it, or even just randomly delete it, if spam filters don’t take care of that on their own. But the average lifespan of a piece of direct mail is 17 days, which may account for how direct mail generates purchases five times larger than e-mail campaigns. It’s harder to ignore when it’s in your house and you have to physically handle it as opposed to just clicking a mouse to get rid of it. 5. Millennials trust direct mail.It’s true—research shows that 90% of Millennials think direct mail advertising is reliable. Plus, Millennials are 24% more likely to show mail to others, compared to 19% of non-Millennials… which means if they find a deal they like in the mail, they’re probably going to spread the word. Visit our Retail Marketing Solutions page to learn more about how we can help you find new customers and have more meaningful engagements with existing ones.