Measure campaign effectiveness

Originally appeared on MediaPost As the digital ecosystem becomes more complex, managing multiple identifiers for consumers has emerged as a significant challenge. From cookies and IP addresses to mobile IDs and universal IDs, marketers and platforms face increasing difficulty in maintaining a unified view of their consumers. Without a coherent identity strategy, campaigns can suffer from poor targeting, limited personalization, and flawed attribution. Experian understands these challenges and offers solutions to help our partners navigate the complexities of a multi-ID landscape. By utilizing both digital and offline data, we provide the tools to unify fragmented identifiers and maintain a persistent view of consumers. As a result, marketers and platforms get rich insights, accurate cross-device targeting, improved addressability, and measurable advertising. The shifting identity landscape For years, the industry has relied on cookies to identify consumers across devices and platforms. However, with ongoing signal loss, including the uncertainty around cookies, and the evolution of privacy regulations, the digital identity landscape has grown more complicated. As consumers hop from one device to another, they are now represented by multiple signals, each tied to a different aspect of their digital behavior. While this shift brings complexity, it also opens the door for innovation. Marketers and ad platforms now have the opportunity to rethink their identity strategies and adopt more flexible approaches that are not reliant on a single identifier. This is where Experian comes in. Connecting the dots: A holistic view of the customer journey Our identity solutions are designed to help manage today’s multi-ID ecosystem by connecting digital and offline identifiers to a single customer profile. This creates a unified view of the consumer, and when combined with our understanding of customer behavior (e.g. demo, interests, shopping patterns) marketers and platforms get both insights about their customers and the addressability to reach them across channels. Four examples of what you can do with a strong identity foundation If an advertiser wants to make its first-party data more addressable, it can utilize our Digital Graph with universal IDs, hashed emails (HEMs), and connected TV (CTV) IDs to extend its reach. A publisher who wants to gain further insights into their audiences and create private marketplaces (PMPs) can achieve this goal with the use of our Digital Graph with hashed emails, universal IDs, mobile ad IDs (MAIDs), CTV IDs, and IPs. The publisher can use this in concert with Marketing Attributes to understand age, gender, household income, buying behavior, and more. The publisher can connect marketing attributes to the Digital Graph via our Living Unit ID (LUID) to understand more about consumers that fall into their segments. A demand-side platform (DSP) who wants to extend first-party and third-party audience reach across all digital devices on their platform will use the Digital Graph with all digital IDs to allow users of their platform to select cross-device extension against first-party and third-party audiences. A retail media network (RMN) can use our Offline and Digital Graphs to connect in-store and online purchases to a household profile—even when purchases are made by different people. The RMN can then reach that household across digital media platforms and accurately attribute the in-store purchase back to digital ad exposure.  Identity as a strategic asset: Today and in the future In our paradoxical world where consumers are represented by multiple identifiers, yet marketers and platforms face signal loss, identity is more than a technical issue—it’s a strategic asset. The ability to unify identity data into a single profile provides marketers with the customer intelligence needed to drive growth and stay competitive. Here’s how we do it: Deep, persistent customer understanding: With roots in offline, deterministic data like names, addresses, and emails, we provide an accurate and persistent view of identity to our customers. This allows you to maintain a consistent and comprehensive understanding of your customers and their marketing attributes over time. Highly accurate and refreshed digital identities: Our signal-agnostic graph is not reliant on any one signal as it includes HEMs, cookies, MAIDs, IPs, Universal IDs, and CTV IDs. Our Digital Graph is updated weekly, ensuring the data is always fresh and addressable. This persistent linkage of individuals and households to their identifiers and devices means your campaigns are always targeting the right people. Connected offline and digital graphs for holistic insights: We connect offline and digital identities by following privacy-first best practices, such as preventing re-identification, to allow insights from the offline world to be used in the online world. This integrated approach, enriched with marketing data, gives you better insights, more addressable advertising, and the ability to engage customers across multiple devices while accurately measuring campaign impact. Transform challenges into opportunities The rise of the multi-ID landscape presents both challenges and opportunities for the advertising industry. We stand as the trusted partner to navigate this complexity, utilizing insights from the offline world to inform decisions in the online world, enabling personalized marketing and accurate attribution, and helping you achieve your current and future goals. Get started today Latest posts

At Experian, we understand the importance of audience targeting when it comes to crafting a successful marketing campaign. That's why we've invested in developing 2,400+ syndicated audiences, which span across multiple verticals and categories, including demographic, and lifestyle and interest data. We are excited to share a curated list of audience recommendations to support your campaign planning so you can confidently connect with your audience. What separates Experian’s syndicated audiences Readily available on-the-shelf for activation of most major ad platforms, including the Trade Desk, Cadent, Microsoft, and Yahoo.  Our audiences span 15 data verticals and categories including demographics, auto, retail purchases, lifestyle and interests, financial, and travel. With our history in data management and participation in industry standards groups, we have the expertise to build audiences that are built for privacy and focused on accuracy.  New audience segments to consider for Q4 campaign planning These new audiences, recently released on major platforms, offer unique opportunities to align your campaign planning with the latest consumer trends and behaviors. Here are four new Experian audiences to include in your Q4 campaign planning:  Holiday Shoppers: Black Friday Holiday Travel - Budget Savvy Airline Geo-Indexed Audiences - Hybrid Vehicle 24-Month Future Car Buyers Seasonal audiences for Q4 Political audiences As the 2024 election approaches, moving beyond broad categorizations like “Democrat,” “Republican,” or “Independent” is crucial. Voters want candidates who align with their beliefs and values and Experian’s political personas offer a nuanced understanding of American voters to craft tailored engagement strategies. Experian has created 10 political personas to help better understand the American voter so you can reach consumers based on their viewpoints on key political issues. Additionally, over 200 politically relevant Experian audiences are available for activation on-the-shelf of the leading TV, demand, and supply platforms. Learn more here Holiday audiences This upcoming holiday season serves as the perfect opportunity to drive sales and build customer relationships. Experian has recently introduced 19 new audiences that can help you reach relevant shoppers across major ad platforms including TV and programmatic. By using Experian’s audiences in your holiday advertising campaigns, you can reach last-minute shoppers, discount-seeking shoppers, gift-givers, and holiday travelers. Just as shoppers seek the perfect gifts, your holiday advertising campaigns can capture the right shoppers this holiday season with the right strategy. Read our holiday audience guide now Our top 10 audience recommendations for Q4 Based on the top Experian audiences activated in Q4 of 2023, our top 10 list is designed to help agencies and media buyers plan data-driven advertising campaigns.   Household income level 1) $100,000+: This segment contains consumers who are likely to have an estimated household income of $100,000+. 2) $75,000+: This segment contains consumers who are likely to have an estimated household income of $75,000+. Demographics 3) Ages: 25-54: This segment contains consumers who are likely to be aged 25-54. 4) Ages: 30-39: This segment contains consumers who are likely to be aged 30-39. 5) Ages: 35-39: This segment contains consumers who are likely to be aged 35-39. 6) Ages: 40-49: This segment contains consumers who are likely to be aged 40-49. Homeowners 7) Homeowner: This segment contains consumers who are likely to be homeowners. Military 8) Inactive: This segment contains consumers who are likely to be inactive military. Automotive 9) In-market for a small, mid-size SUV: This segment contains consumers who are likely to be in the market to buy a mid-size SUV in the next 180 days.  10) In-market for a full-size SUV: This segment contains consumers who are likely to be in the market to buy a full-size SUV in the next 180 days. You can find the complete audience segment name in the appendix. Activate the right audiences with Experian When you choose Experian’s syndicated audiences, you gain access to over 2,400 audiences that span across 15 verticals and categories. These audiences are directly available for activation on over 30 platforms and can be sent to over 200 media platforms. Experian is ranked #1 for data accuracy (as validated by Truthset), and Experian Marketing Data is the foundation for successful targeting, enrichment, and activation. For a full list of Experian’s syndicated audiences and activation destinations, download our syndicated audiences guide. Need a custom audience? Reach out to our audience team and we can help you build and activate an Experian audience on the platform of your choice. Connect with our audience team Appendix Here are the complete audience segment names (taxonomy paths) for all audience segments discussed in this blog post. New audiences Autos, Cars and Trucks > Near Market > 24-Month Future Car Buyers Retail Shoppers: Purchase Based > Seasonal > Holiday Shoppers: Black Friday Autos, Cars and Trucks > Ownership – Geo-Indexed > Geo-Indexed Audiences –Hybrid Vehicle Retail Shoppers: Purchase Based > Seasonal > Holiday Budget Savvy Airline Travelers Household income level Demographics > Household Income (HHI) > $100,000+ Demographics > Household Income (HHI) > $75,000+ Demographics: Ages Demographics > Ages > 25-54 Demographics > Ages > 30-39 Demographics > Ages > 35-39 Demographics > Ages > 40-49 Homeowners Demographics > Homeowners/Renters > Homeowner Military Lifestyle and Interests (Affinity) > Occupation > Military - Inactive Automotive Autos, Cars and Trucks > In Market-Body Styles > Small Mid-Size SUV Autos, Cars and Trucks > In Market-Body Styles > Full-Size SUVs Latest posts

Marketers are always challenged to expand sales beyond “business as usual,” while being good stewards of company resources spent on marketing. Every additional dollar spent on marketing is expected to yield incremental earnings—or else that dollar is better spent elsewhere. You must be able to determine return on advertising spend (ROAS) for any campaign or platform you add to your marketing mix. A key driver of positive ROAS is incremental customer actions produced by ad exposure. Confident, accurate measurement of incremental actions is the goal of an effective testing program. Why do we test campaign performance? Because demonstrating incremental actions from a campaign is a victory. You can keep winning by doing more of the same. Not finding sufficient incremental actions is an opportunity to reallocate resources and consider new tactics. Uncertainty whether the campaign produced incremental actions is frustrating. Ending a profitable marketing program because incremental actions were not effectively measured is tragic. Test for success When you apply rigorous methods to test the performance of campaigns, you can learn to make incremental improvements in campaign performance. The design of a marketing test requires the following: Customer Action to be measured during the test. This action indicates a recognizable step on the path to purchase: awareness, evaluation, inquiry, comparison of offers or products, or a purchase. Treatment, i.e., exposure to a brand’s ad during a campaign. Prediction regarding the relationship between action and treatment (e.g., Ad exposure produces an increase in purchase likelihood). Experimental design is the structure you will create within your marketing campaign to carry out the test. Review of results and insights.   Selecting a customer action to measure Make sure that the customer action you measure in your test is: Meaningful to the campaign’s goal. What is the primary goal of the campaign? Is it brand awareness? Web site visits? Inquiries? Completed sales? An engagement by the customer. Your measurement should capture meaningful, deliberate interaction of consumers with the brand. Attributable to advertising. There should be a reasonable expectation that ad exposure should increase, or perhaps influence the nature of customer actions. Abundant in the data. Customer action should be a) plentiful and b) have a high probability of being recorded during the ad campaign (in other words, a high match rate between actions and the audience members). Selecting campaign treatments It is best for treatments to be as specific as possible. Ad exposures should be comparable with respect to: brand and offer, messaging, call to action, and format. Making a prediction This is the “hypothesis.” Generally, you assume that exposure to advertising will influence customer actions. To do this, you need to reject the conclusion that exposure does NOT affect actions (the “null hypothesis”). Elements of an experimental design An attribution method that links each audience to their purchase action during the test. This consists of a unique identifier of the prospect which can be recognized both in records of the audience and records of the measured action during the measurement period. A target audience that receives ad exposure. A control audience that does not receive ad exposure. It provides a crucial baseline measurement of action against which the target audience is compared. Time boundaries for measurement, related to the treatment: Pre-campaign Campaign Post-campaign Randomly selected audiences (recommended) Some audience platforms, such as direct mail and addressable television operators, feature the ability to select distinct audience members in advance. Randomly selected audiences can generally be assumed to be similar in all respects except ad exposure. The lift of the action rate is simple to calculate: Campaign Lift = (Action Rate (target) / Action Rate (control)) -1 Non-randomly selected audiences are more difficult, but still possible, to measure effectively. There may be inherent biases between them that may or may not be obvious. To measure campaign performance, we must first account for any pre-existing differences in customer actions, and then adjust for these when measuring the effect of ad exposure. Typically, the pre-campaign period (and possibly the post-campaign period as well) are used to obtain a baseline comparison of actions between the two audiences. This is a “difference of differences” measurement: Baseline lift = (Action Rate (target) / Action Rate (control)) -1 Campaign Lift = (Action Rate (target) / Action Rate (control)) -1 Net campaign lift (advertising effect) = Campaign Lift – Baseline Lift Analyzing results and insights How large is the lift? This is generally expressed as a percentage increase in action rate for the target audience vs. the control audience. Are we confident that the lift is real, and not just random noise in the data? This question is answered with the “confidence level.”. 95% confidence means the probability of a “true positive” result is 95%; and the probability of a “false positive” due to random error is 5%. What was the campaign cost per incremental action? If you also know the expected revenue from each incremental action, you can project out incremental revenue, from which you can calculate return on ad spend. Other insights: Do the results make directional sense (we would hope that ad exposure will cause an increase in customer actions, not a decrease)? Does action rate generally increase with the number of ad exposures? Summary Well-designed testing and measurement practices allow you to learn from individual advertising campaigns to improve decision-making. The ability to draw confident conclusions from campaigns will allow experimentation with different strategies, tactics, and communication channels to maximize performance. These test-and-learn strategies also enhance your ability to adjust to marketplace trends by monitoring campaign performance. To learn how Experian’s solutions can help you measure the success of your marketing campaigns, watch our short video, or explore our measurement solutions.

One of the biggest challenges marketers face when planning digital advertising campaigns is getting an adequate number of impressions that yields measurable results at the lowest possible cost. As agencies, operators and advertisers are increasingly challenged about media budget, it is more important than ever to plan campaigns that generate enough information at the lowest possible cost. Through our design, deployment and measurement of advertising on a variety of platforms, Experian has developed best practices when planning digital advertising campaigns. We share some of these here, to help marketers with future campaign planning to maximize marketing effectiveness at a minimal cost. Using Path to Purchase to Determine the Right Number of Touch Points The Path to Purchase Funnel provides a framework to determine the number of touchpoints required to turn a prospect into a buyer. There are various phases the consumer goes through at each contact, and these phases dictate the number of touch points (or ‘touches’) required to induce a purchase. In the table below, we’ve described what these phases are, and the number of touch points required for those phases. The required number of touches will vary greatly among marketers, who must consider the expected time for a prospect to make decisions, competition in the marketplace, the novelty of the offer, and the level of engagement of the audience. For example, 15-second or 30-second audio and video ads played during scheduled breaks in programming may require more repetition than an ad played at a moment of high engagement, such as when the user interacts with the app, or during a “pre-roll” advertisement view prior to streamed content. Determining the Target Number of Impressions Needed to Persuade The next step involves determining how many exposures will be required to get the impressions or touch points needed to satisfy the consumer’s path to purchase. Let’s say a marketer has decided that four impressions are enough to make the case for the consumer to purchase, and that the marketer plans to reach 1 million prospects during the campaign. Perhaps the most intuitive solution is to provide four impressions for each reached prospect, such that 4 million impressions would be served during the campaign. However, during a normal digital campaign, some prospects will have zero impressions while others will have many. Because of this, we recommend planning to reach a target fraction (typically 80%) of the audience to receive the required number of impressions for purchase. The following table shows the predicted percent of audience exposed by average number of impressions served. Factoring Advertising Half-Life into Impressions Required Advertisement decay, or the fading consumer memory that reduces ad effectiveness, should also be factored into determining the right number of impressions for a successful campaign. For example, if a campaign length is planned to be 6 weeks, but the half-life of the advertisement is only three weeks, then more impressions would be needed to attain the number of touches required for the path to purchase. When planning campaigns for our partners, we adjust the target mean exposure frequency by the square root of the proportion of campaign length over advertisement half-life. For example, assuming a 3-week half-life and a 6-week campaign, we should multiply our target 5.5MM impressions by to get 7.78MM impressions. In the table below, we’ve demonstrated several scenarios of varying advertisement half-life. Other Considerations During Post-Campaign Analysis Once the campaign is completed, Experian recommends analyzing the distribution of impression frequency to determine how closely the actual impression frequencies matched to what was predicted. If frequencies do not align with the predicted, check to see if these assumptions are met: Make sure that advertising impressions are independent of each other. If rules are in place such that a prior impression affects the likelihood of a subsequent impression, this can affect the impression frequency. Check that the entire targeted population is on the ad platform long enough to be available for targeting. Some campaigns may have been instructed to be deployed in phases, which could limit the number of impressions to be delivered. Confirm that exposures can only occur one at a time, so that the impressions are deployed at distinct time intervals, giving the consumer the opportunity to view the advertisement Planning a successful campaign is critical for a test-measure-learn environment for an agency, operator, platform or advertiser. While initial up-front costs can be expensive, the long-term value to the business is significantly greater if tests are designed and administered appropriately. As a result, spending a little extra time thinking about your consumer’s path to purchase, exposure frequency, and the half-life of your advertisement can pay significant dividends in developing your digital advertising strategy.

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.

As the nation slowly works its way up to full speed, it’s undeniable that the landscape has changed dramatically for every brand—especially when it comes to marketing and advertising. Many are looking for new ways to better connect with customers to meet their needs and encourage their continued patronage and loyalty, while others are attempting to reach out to a whole new audience who may not have known about them pre-pandemic. But even as brands are eager to get back to normal—whatever the new normal is—much like consumers, they’re faced with an uncertain future that may be affected by new financial restraints. For marketers looking to make a big impact on their bottom line, now is the time to consider pivoting advertising efforts to advanced TV (Connected TV/OTT and addressable TV). While traditionally cost prohibitive for many brands, the pandemic has greatly changed the availability of TV advertising. TV advertising is now more affordable than ever, opening up opportunities to brands who may not have had the ability to include it in their previous marketing plans. Whether it was due to the cancellation of live events or the delay of basketball season, or just general skittishness that’s keeping other brands from spending money on TV advertising, their pivot is to your benefit. There’s no question that consumers’ attitudes toward brands will have changed during the pandemic, which means they might need to be reminded of your brand and what it has to offer. There may be some who are seeing your brand for the first time, or for the first time in a long time. The good news is, people are watching TV now more than ever before. According to Experian’s Consumer Sentiment Index, television consumption is up 41% from mid-May to mid-June. Cable TV viewership has seen a 22% increase over the same period of time, showing that consumers are still connected to traditional TV viewership. Another reason why now is a great time to make advanced TV part of your marketing plan. While many states are still rolling out their re-opening plans, many consumers are still working from home, and the job landscape is still firming up. That means your customers will still be passing the time at home as the landscape continues to shift and change, and their attention will likely be directed toward their TVs. Plus, with consumer spending starting to rebound, you can benefit from this directed attention in a new medium. And consumers aren’t just watching TV on their televisions. Smartphone use is up 41% over last month, as is desktop/laptop use at 38%, and tablet use at 21%. And, when they’re not watching their favorite show on their phones, computers or tablets, they’re visiting advertiser websites and using apps more heavily. This means that brands can supplement their TV advertising with an omnichannel approach to ensure their consumer can connect with them through any device they’re using. All of this may sound intimidating to brands who haven’t previously advertised on TV or executed an omnichannel campaign, but rest assured that the power of data can help make the experience fairly seamless. A data-driven marketing strategy can help brands better understand their audience, including demographics, lifestyle, behavior and attitudes—as well as their preferred engagement channels. This helps ensure that your message resonates and is seen on the devices and channels your audience frequents most. With Experian’s 50+ years of experience with consumer data, you can rely on us to help you execute a data-driven advanced TV campaign that targets the right audience with your message. And we collaborate with all TV operators and have connections with many industry media partners, so you can choose exactly where you want your outreach to go. Find out more about how Experian’s Advanced TV capabilities can help you have more meaningful interactions with people: https://www.experian.com/marketing-services/television-advertising.

Article written by Jill Canetta, Experian Marketing Services’ Chief Data Officer, and Mark Pryzbylski, Experian Automotive’s Senior Director of Product Management At this point, it’s indisputable that the COVID-19 pandemic has completely changed everything for everyone on a multitude of levels. And now that the country is moving toward easing stay-at-home restrictions and people are starting to venture out into the world, auto marketers are faced with unique challenges amid an uncertain future and customers who aren’t sure of the best step to take next in their ownership experience or potential vehicle purchase journey. However, that uncertainty provides an opportunity for brands to make deeper connections with current customers and interested consumers—provided they can understand and address their customer’s needs in a supportive way. You need to lead with empathetic messaging that directly addresses their needs and offers support during this challenging time. Data is the starting point, and Experian is ready to help. First, you need to understand what consumer outlook looks like on a national scale, in real time. Using insights gleaned from consumers across the country, Experian created a US Consumer Sentiment Index built on daily survey findings that outlines what customers are thinking and how they’re feeling during COVID-19. As of June 10th, 2020: 44% have automobile payments they need to make monthly, with Millennials and Gen X leading the pack at 50% 21% are considering buying a new vehicle within the next few months, with Millennials at the forefront of this drive at 16% Of those considering a new vehicle, 63% will continue with their purchase as planned, 42% will buy something less expensive, and 18% will consider leasing, with Gen Z leading the last two these categories Certainly, this data can help auto marketers glean the information they may need to begin targeted outreach, especially when sentiment shows there’s still a need and desire to own, lease or rent a vehicle. But this is only part of the picture. To create a complete view of the customer, marketers need to fill in the blanks so they can thoroughly address their needs and let them know they’re both ready to help, and capable of doing so. For example, due to the changing landscape, it’s unlikely that dealership walk-in traffic is going to present the same opportunities for purchase that it once did. This means marketers will have to leverage new avenues to execute their outreach. Using the power of data, auto marketers can identify those who are most likely to be in the market for a new vehicle, such as those coming to end of lease or those who are soon to be in equity on their current vehicles. But how can this information help you in your outreach efforts? Demographic, behavioral, life event, lifestyle, automotive and attitudinal data can help you tailor a compelling message to address their stage of ownership—and potentially address their new or emerging needs as a consumer. Perhaps their child is starting college in the fall and needs a vehicle. Or maybe they’ve downsized and don’t need an SUV anymore, so a compact car would better fit their needs. When it comes to leaseholders, data can show you which leases are coming up for renewal or termination. Regardless of their situation, leaseholders will need to decide on their future vehicle needs whether it means buying their car, leasing another, or going in an entirely new direction—one that may potentially be more cost effective to address the issues they may suddenly be facing. Beyond identifying your target audience, you need to understand how to reach them. We also offer the opportunity for multi-channel media activation, leveraging our relationships with more than 100 media partners and digital platforms to launch and optimize your one-to-one marketing campaign across all channels. And to help you determine the ROI of your offline and online campaigns, our measurement tools help you gain actionable insights for future campaigns with easily digestible dashboards and reports. As we all adjust to the new landscape and find different ways to navigate the current environment, marketers need to be cognizant of how they’re targeting new consumers—especially when the landscape appears to be unstable. By addressing consumers with relevant and thoughtful messaging that supports their needs, marketers now have the opportunity to create deeper connections that can create loyalty that lasts a lifetime. Learn more about how the Experian Marketing Engine for automotive marketers can help.  

For as long as the ad buying process has existed, most brands and agencies have put an emphasis on the channel – meaning there were specific campaigns for direct mail, email, TV, social media, banner ads, etc. In fact, the teams responsible for these campaigns often work in silos. But with more people consuming information through multiple channels, it’s important for brands and agencies to put the customer at the center of the ad buying process – to develop and implement true omnichannel campaigns. I recently wrote a byline article for Broadcasting & Cable that explored the concept of the “PeopleFronts.” While the Upfronts and Newfronts have dominated the ad buying world, brands and agencies need place larger emphasis on the customer. At the end of the day, the right mindset can open the door for more powerful campaigns and relevant messages that resonate with the consumer.

To set your brand apart from the competition (and thrive!), you need to get to know and communicate with your customers on a more personal level—this means knowing more than just their email or mailing address. It means building a relationship with them to turn them into loyal customers who keep coming back. To make this happen, retail marketers must engage with customers across all verticals and invest in true data-driven advertising. Consider the following: What do my customers do? If you know more about your customers’ lifestyles, interests and spending habits, you will have a better understanding of how they choose to spend their money and free time. Once you understand your core customer base, you can move on to how and when you should reach them. This starts with segmenting your customers and then reaching them across their preferred channels. You should then learn what motivates your customers in order to understand their buying behavior. Do they buy items spontaneously or do they spend a lot of time researching? Do they only buy things with a coupon or is free shipping more important? Lastly, determine what marketing is showing ROI so you can optimize your marketing campaign. To ensure your efforts are showing results and your marketing budget is getting the most bang for the buck, attribution is critical. Retailers should strive to get more value out of existing data, supplement it with third-party sources, and find better ways to manage it and extract valuable insights. Experian’s Customer Data Engine is the perfect solution to assist retailers with this challenge. This customer data platform helps provide you with a complete picture of online and offline customer engagement and delivers the data, tools, and insights needed to make decisions on reaching customers and lookalike prospects. Customer Data Engine is a centralized platform where first- and third-party data is managed and updated on an ongoing basis in a secure environment, providing retail marketers with analytical tools, lookalike prospects, campaign management, audience distribution and closed-loop measurement. Once retail marketers have a deeper understanding of what they need to know about their customers, they can create customized audiences using this data. Retailers value first-party data and often look at it first. Usually, this refers to online data about customer activity on a website or app, and can come from form and email submissions, views of merchandise or devices and things people searched for online. Although first-party data is gold, there is almost always additional information needed to fill in gaps. For instance, the need for recency, frequency and monetary (RFM) data is crucial. RFM data is a way for retailers to analyze their customers by using recency (how recent the customer made a purchase), frequency (how often a customer makes a purchase) and monetary data (how much money a customer spends on purchases). It gives the retailer the details of when the last time the customer made a purchase, how often does the customer make a purchase and how much did the customer spend. With this information, they will know who their most valuable customers are and be able to create customized audiences. To get a deeper understanding of your customers, solutions such as Experian’s ConsumerViewSM database can be leveraged to provide you with demographics, life event triggers, purchase data, lifestyle segmentation data and more. With thousands of data attributes available, it can take any business to the next level. According to global research firm, Coresight Research, retailers in the United States have announced 5,994 store closures in just the first 15 weeks of 2019. Changing consumer demands, and a volatile economy have made it difficult for retailers to keep pace. However, retail is not going to go away, and brands just need to be smarter about how they conduct business. Making sure you know and understand your customers is one of the ways to ensure repeat visits and set yourself apart from the competition. By enriching your data with 3rd party data from Experian, Customer Data Engine allows you to know and target your customer the same way that Direct to Consumer brands and retailers can and provides you with a full 360-degree view on what your customers are doing and how they are interacting with your brand. To learn more about Experian’s Customer Data Engine, contact us at (877) 902-4849 or experianmarketingsolutions@experian.com to learn more.