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Consumers on the Move
WEI JIANG
YUDONG FU
Introduction
The good news is you’ve got lots of customer data!
The bad news is you've got lots of customer data!
Solve based on four aspects:
1. Who buys from me?
2. What are they going to buy from me?
3. Where can I find them geographically?
4. How can I best communicate with them?
Where we started
Jonathan Robbin---PRIZM
Potential Ranking Index for Zip
Marketing
A comprehensive and scientific marketing
research tool
How PRIZM works
PRIZM categorizes every US
household into 66 demographically and
behaviorally distinct types, called
“clusters." It helps us learn about their
likes, dislikes, lifestyles and purchase
behavior
Who Uses PRIZM?
What’s changed
Computing technology development
1. The way to collect data is easier
2. Increase the capacity of the data
3. Changing with the consumers’ lifestage
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The way to collect data is easier
Advances in computing technology, data
quality and statistical techniques have allowed us
to break the yoke of the once-every-10-years
census data and deploy segmentation systems
using household-level data. Now, instead of
being able to differentiate between whole
neighborhoods, marketers can differentiate
between next-door neighbors.
Increase the capacity of the data
With household-level accuracy covering
some 120 million U.S. households. And the
old mythology of poor household data has
dissolved with routine household-level
match rates consistently in the 90% range,
plus the ability to code tens of millions of
records in just hours.
Changing with the consumers’ life-stage
When life-stage changes happen,
previous attachments to purchasing
behaviors, media preferences and lifestyles
destabilize. Consumers are then open to
trying new brands and products through
new channels. This is a great opportunity
for marketers that want to add the “when”
to their targeting strategy.
Looking the future
As new media channels proliferate and mature,
marketers must strike a balance between their
choice of targeted households and the media
selected to reach those prospects.
New technology in addressable advertising
across “all three screens”:
1. Computer
2. Cable television
3. Wireless
Computer
For lack of a better term, “Personicx
cookies” are the next step for boosting
the effectiveness of online ad targeting.
Cable television
While the plumbing may be in place, the
work of deciding which ad goes through
which pipe still needs to be done
thoughtfully.
Wireless
The “third screen” offers DMers the
same opportunity to know a subscriber's
consumer life-stage segment and to deliver
targeted content whenever and wherever
that person happens to be.
A lot has changed in the science and art of
consumer segmentation in recent years.
Improvements in the power and cost of computer
technology, data quality and statistical
techniques have provided DMers some powerful
new tools. The opportunity to achieve true
integrated marketing across all channels puts
more control into marketers' hands than every
before.
Reference
http://www.slideshare.net/chiefsdad/prizm
http://directmag.com/lists/marketing_consumers_m
ove/