How Agencies Can Leverage Marketing Intelligence|
Advertising and brand agencies are faced with the perennial task of helping their clients find new, high-value customers while maintaining the repeat business of current customers. Fortunately, agencies don’t have to go it alone.
Marketing intelligence providers like Wiland can help them make data-driven decisions that fuel a broad range of initiatives, from big-picture marketing strategy to individual promotions, and everything in between. Thus equipped, agencies can identify and reach the most responsive audiences possible for every client they serve.
This data-driven collaboration helps agencies and their clients achieve five crucial marketing objectives:
1. Move from Responding to Consumer Behavior to Predicting It
By comparing their clients’ customer data with transactional information in a data provider’s database, agencies can identify audiences that will be most responsive to various brands, messages and offers. This massive consumer data provides insights that would not have been apparent from the client’s data alone. Intelligence providers can also help agencies predict which promotion channels will be most effective for their clients. This creates a competitive edge in consumer markets where new customer acquisition and customer loyalty are crucial to success.
2. Enhance Consumer Personas with Transactional Data
While demographic/psychographic information is valuable to agencies for audience segmentation, it becomes even more powerful when augmented by consumer transaction data—the actual purchases consumers make every day. As agencies and clients develop personas and segment audiences, marketing intelligence solution providers have the transactional data and analytics to make those personas more predictive of actual behavior. This allows every marketing effort to be measurably more effective.
3. Give Strategic Direction to Creative
As creatives consider how to break through the clutter and move an audience to action, marketing intelligence providers can offer deep insights into the behavior, priorities and spending habits of the people their clients are trying to reach. Data can reveal the campaigns that were the most productive in the past, as well as what types of offers or products were the most successful. This information helps creatives craft their messaging more effectively.
4. Increase Precision of Media Spend
As agencies allocate their clients’ media dollars, they can take advantage of the audience segmentation and customer optimization services of a marketing intelligence solution provider. Agencies can pick the premium segments they want to reach, while eliminating low-performing segments. This segmentation helps agencies focus client budgets for maximum impact in all channels.
5. Make Digital Advertising Work Like Direct Marketing
Display advertising can be deployed with previously unheard-of precision when using marketing intelligence and customer analytics. Providers can help agencies reach millions of targeted individuals within their clients’ target audiences whenever they go online. Offline consumer transaction data can be paired with online identifiers, which can then be used to serve ads to consumers who are the likeliest to respond. This helps agencies’ clients target their advertising and acquire customers most likely to produce long-term value.
Since most agencies don’t have their own analytics departments, and are usually limited to their client’s own data anyway, the ability to tap into the massive data of a cooperative database like Wiland’s creates the opportunity optimize their marketing spend as never before. Through such a collaboration, agencies can not only help their clients be more successful, but power their own success as well.