Learn more about the latest mobile marketing and trends for big data technology in the retail industry.
Data-driven marketing is a major theme and focus for an increasing number of global brands and advertisers. A quick scan of the leading digital ad agency websites either mentions “data-driven marketing”, or lead with it, on their Agency’s home page. Brands must leverage customer behavior data and analytics to drive customer acquisition, retention & growth, and this is much than just a trend, but a mandate to reach the right audience. As a data provider to these Agencies, Scanbuy understands what success looks like for the Agency/Advertiser whose marketing campaigns rely on our data to enable their “data-driven marketing” mantra to be achieved.
We have found 3 essentials to make data-driven marketing successful:
• Data quality - easy to proclaim, harder to define, hardest to prove
• Data clarity - organized in a way to make discovery and usability as simple as possible
• Data scale - often a trade-off between audience data volumes and targeting specificity
Data “quality” generally refers to the collection methodology used to gather the data. When working with data providers, is important to understand not only the quality of their data, finding out how it’s captured, but also how current it is. For example, Scanbuy’s data is collected from mobile consumer devices (smartphones & tablets) and relates to the consumer’s specific product shopping interests. In particular, we focus on Consumer Packaged Goods (CPG), Fast-Moving Consumer Goods (FMCG), and Durable Goods (DG) products that the consumer considers purchasing or actually purchases within bricks-and-mortar stores. This data is often called “deterministic” in that it is not inferred, or predicted, or likely, that the consumer cares about the product, but rather that the consumer specifically engaged with it and that this engagement actually happened in-store. This data is also often called “bottom-funnel”, in that the product engagement occurred just before purchase, at the point of sale, or just after purchase. Poor quality data can lead to poor marketing campaigns.
Data clarity is the term that relates to how accessible (easy or hard,) it is to find or “discover” in-store shopping data within the broader data marketplace. It also includes how the data is organized, what target consumer audiences or segments exist, and how these segments are inter-related. For example, our data taxonomy is organized into approximately 900 segments, some very general (such as “beverages”, “soups”, and “snacks”); and then under each general segment there are sub- and sub-sub- segments that get increasingly product- and brand-specific (for example, under beverages you will find sub-segments such as “soda”, “health & energy”, and “babies & children”). With increasing specificity or precision of the target product segment comes decreasing scale or volumes of active shoppers within that segment; often giving the marketer some flexibility to meet their needs.
Achieving data relevance at scale is required, but not easily achieved. Generally, it is assumed that as an audience or segment size grows, it loses its inherent precision, or the degree to which the specific consumer audience being targeted has or will behave similarly. Since many data providers cannot scale their data, a common mistake made by many marketers is to spend more money trying to appeal to additional segments over a wider array of channels, rather than staying focused on those customers that have the highest propensity to be interested in their products or message.
Scanbuy understands the need to achieve data relevance at scale and can deliver segment volumes in the 1M to 10M range for most of its segments across our data taxonomy. We attain this scale by combining complementary in-store shopping “signals” captured while the consumer is in-store shopping, thus indicating a direct physical interaction with the products they are most interested in. Are you ready to leverage the power of behavioral customer data and analytics to take your data-driven marketing campaigns to the next level?
If in-store consumer data is of interest to your business, please consider the combination of Scanbuy’s data quality, clarity, and scale as you evaluate your data-driven marketing needs.