Consumer Data as an Asset
Keeping pace with the changes in marketing strategy alone can be exhausting. It only grows more complicated as the demographic makeup of consumers evolves. The asset that is customer data has allowed businesses to take a more analytic approach to many levels of the customer journey.
As companies like Amazon rise, it’s becoming clear that the more data you can take in, and more importantly, the better insights you gain, the more effective a strategy you can produce for addressing operational inefficiencies and targeting your consumers.
Google Analytics is a great place to start.
If you don’t know the steps to take once you’ve gathered and analyzed the data available to you, all of that effort expended on collecting data and gaining insights could end up for naught.
See A Complete Version Of Your Target Consumer
How and why a consumer engaged with you is important. Access to their email and name is great, but the goldmine is in the demographic information. Determining the age, race, and especially habits of a consumer can help you develop a more thorough customer persona off of which to base your strategy.
Let me lay out a scenario:
You’re the marketing specialist for a local shoe store. As you gather data, you notice trends in shoe buying among people of similar ages and who report to work in similar industries.
For example, you see that a popular loafer is purchased frequently by men ages 30 to 40, who report to work in some form of consulting whether it be legal, marketing, architectural, etc.
This analysis gives you two significant marketing advantages:
1) You know what age group to start tailoring the marketing of that particular loafer, and
2) You know where you can reach these customers both in terms of platform and geographic location.
Using the wealth of studies on adult media habits, you can find where these customers are researching their purchases and shopping, and with the ages and occupations you gather you can make relatively realistic assumptions about where these purchasers might often live!
With the data you have, you might find these consumers are more likely to live in suburban areas, nearer schools and popular public services because they are likely parents or homeowners.
Data and infographic from ofcom.org.uk
Geofencing The Target Customer
So how does all this data make your geotargeting better? It enables you to draw better geofences. By determining where your customers live based on their demographic information, you can draw specific geofences that make your targeting much more precise.
Instead of targeting an entire region or city you know to contain a large target population, you can target the neighborhoods, civic centers, and business areas they frequently visit.
The University of Montana campus, geofenced using GeoFli
This strategy is more effective and ensures that your content feels even more personalized than basic geotargeting allows.
You’re also able to free up space within a given region to directly target other groups and avoid tangling up your content messages!
You can target dorms and apartment complexes to reach out to college-educated millennials, different restaurants to families, concert venues for young professional leisure seekers, and many, many more different locations and demographic groups.
Using demographic information to boost the precision of your geotargeting efforts is a simple way to increase its effectiveness. The best time to start was yesterday, so get going!