Audience Definition Made Easy - Acxiom · the greatest market penetration and highest return ......

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Audience Definition Made Easy Personicx ®

Transcript of Audience Definition Made Easy - Acxiom · the greatest market penetration and highest return ......

Audience Definition Made Easy

Personicx®

point of view

Let’s face it; the majority of firms are not getting their fair share of valuable buyers these days. Currently, more than 80 percent of online advertising fails to reach its intended audience. And though not too long ago advertisers could reach 80 percent of 18-49 year olds with just three commercials, it now takes more than 100. A tremendous shift has occurred in the consumer market, one that has drastically impacted marketers’ ability to reach and engage their audiences. Customers and prospects now live in a connected world where media consumption is simultaneous and incessant. When television, Internet and smart phones are all in use at once, information overload and fragmented attention causes marketers’ messages to be gradually tuned out. Until those messages are relevant and timely, that is.To be effective today, and to fare better in the market share wars, marketing has to be narrowcasted, personalized and coordinated across all channels. And, no, the same message does not apply to all. Enter segmentation. Accurate consumer segmentation — as users of Acxiom’s Personicx suite of products have

discovered — helps companies locate and communicate with the best prospects among all consumers and better understand their needs, desires and buying habits. Knowing more about an enterprise’s best prospects allows managers to focus marketing resources where they will produce the greatest market penetration and highest return on investment.Precise segmentation uses scientific techniques that allow an enterprise to more distinctly refine products and marketing programs to match the needs and wants of consumers. Smart companies use multidimensional insights from online and offline data to provide a clear understanding of their market segments to personalize their offerings and go-to-market strategies. They can optimize the creation, distribution, pricing and promotion of products over time based on their actual success rate with each targeted segment. Again and again, the marketplace has proven that it is not necessarily the best product or service that wins; it is the best-marketed product that ultimately succeeds.The better your segmentation system, the more successful you will be in the marketplace.

Reach and engage your audienceCompetitive advantage through segmentation

“Today, market segmentation is critical to the success of most firms. Segmentation allows marketers to more precisely define and understand customer needs, and gives them the ability to tailor products to better suit those needs. The level of detailed information about customers today has changed the way firms do business. Customers now expect firms to delve into their needs and wants, and to tailor products accordingly. This fact makes market segmentation a vital part of marketing strategy.”

Anne T. Coughlan and Louis W. SternProfessors of Marketing at Kellogg School of Management, Northwestern University

“Understanding consumers is not just using ‘marketing data’ as an information source, nor is it just performing a staff activity. It is a vital, and may well be the vital, resource factor for marketing.”

Bobby J. CalderMarketing Department Chair, Kellogg School of Management, Northwestern University

Sifting and analyzing the mountain of consumer data available is a daunting task for most enterprises. That’s why Acxiom Corporation — the global leader in customer information management — offers the Personicx suite of segmentation products. Personicx is a highly effective scientific approach to outperforming your competition. Personicx can give your company proven solutions that are affordable, actionable and can be quickly implemented in any industry. On its own or linked to other data sources, including your own customer data, Personicx is a key component in pulling together multidimensional insights that can be applied across all channels. Personalized and coordinated contact strategies are truly possible with Personicx.A multifaceted consumer segmentation and visualization system powered by Acxiom’s exclusive InfoBase data, the recognized gold standard for the industry, the Personicx suite includes:• The popular household-level Personicx Lifestage

offering for comprehensive consumer marketing• Consumer-level, online-centric Personicx Digital,

perfect on its own or paired with Personicx Lifestage for online insights

• Personicx Financial, a progressive new segmentation system built from consumers’

financial propensities that groups households by similar likelihood for financial behaviors, regardless of demographic characteristics.

• Personicx Hispanic, specialized for tailoring Hispanic marketing messages

• Personicx Insurance Lifestage Groups an industry-specific segmentation that categorizes households by similar inclinations for insurance products

• Personicx Geo, the geodemographic Personicx product designed for use in neighborhood-based analysis

• Personicx Analysis Tool, a leading-edge analysis and visualization tool that provides access to Personicx segmentations as well as Personicx-encoded consumer research for rich consumer insights

The Personicx suite allows you to better know — and anticipate — your customers’ demographics and buying behaviors, conduct market analysis, plan customer acquisition strategies, and create cross-sell/up-sell and retention campaigns that are truly targeted, personalized and powerful.

Other companies offer consumer segmentation products. Most are generalized from ZIP codes or other geographies. Only the Personicx suite is built from the most accurate data available at the actual household and individual level. (See below.)

Not enough.Life-stage segmentation systems typically use data from the U.S. Census as the principal source. This data is only accurate at the ZIP® code or block level with a best “guesstimate” as to the life stages shared by those living in the same neighborhood. Is that accurate enough to drive marketing decisions? Can it really provide insights into different online behaviors?Imagine your own neighborhood. At one corner, there is a new family with a baby. There is a

retired widower across the street. Living next door is a young physician’s family who just moved from a neighboring state. How accurate can a consumer segment be when it assumes all those in the same neighborhood share similar life stages, online behavior and intentions? Only Acxiom has InfoBase, the industry-leading source of up-to-date, individual-level and household-level data, to draw upon. As a result, Acxiom’s Personicx system offers you a close-up portrait of your best prospects, not an aerial view of an entire section of town.

What can you tell about your customers from an aerial view?

Anticipate your customers’ needs

“The key to effective market segmentation is the match between the company’s business model and the consumer’s behavior. The 70 clusters that make

up Personicx Lifestage have proven to match a wide range of business models.”

Senior PartnerSDR Consulting

Personicx is a uniquely structured suite of segmentation systems that can be used alone or in multiples to fine tune audiences and increase the precision with which they are addressed. The more focused your narrowcasting, the more personalized, relevant and effective the message delivered. At its foundation, Personicx Lifestage is a household-level segmentation system that clusters U.S. households into one of 70 segments within 21 life-stage groups based on specific consumer behavior and demographic characteristics. Personicx Lifestage can be paired with industry-specific segments for better understanding and predicting behaviors within industries, and can also be paired with Personicx Digital for pinpointed precision targeting of the online world. Add in Personicx Hispanic, and you’ve got a powerful tool for better understanding and marketing to the rapidly growing Hispanic market.

Personicx segmentations are updated monthly, with matches to client files consistently greater than 90 percent. You can be sure you’re using the most accurate, up-to-date and complete segmentation schemas available.The Personicx systems are linked to nationally renowned syndicated survey sources such as GfK MRI and Scarborough Research to give you a highly personalized view of consumers without the hassle and expense of conducting your own research. You will have access to detailed demographic snapshots for each cluster, along with national distributions and counts. You will also have access to critical information such as which competitors they shop, product usage, media preferences, attitudes toward advertising, interests and expenditures — both nationally and at a local market level. Tie in your own customer data for customized segments, and you’ll have unprecedented multidimensional insights.

Narrowcast to your best prospects with Personicx

Personicx Lifestage:

Casual ComfortStill relatively young at a mean age of 36, and with top rankings for income, college education, home value and net worth, these consumers have the world by the tail. Feeling financially secure with large investment portfolios, Shooting Stars spend their disposable income making life a comfortable one, focusing on health, exercise, gourmet food, golf and travel.

On the GoTwo things — work and family — consume these professional working couples. They’re putting their college degrees into action, climbing the corporate ladder for lucrative careers, while saving for their children’s education through do-it-yourself home improvements and trips to the zoo for entertainment. With time at a premium, it’s not surprising that the radio is the most relied-upon source for news and entertainment.

Personicx Digital:

Mobile NetworkersThe third youngest Personicx Digital cluster, Mobile Mainstayers, is extremely comfortable with most everything digital, ranking first for frequency of use, social networking and music. Also in the top 10 for income, it’s not surprising they also rank first for financial research and paying bills online.

Financial EnthusiastsExtremely comfortable online, the members of Financial Whizliners can often be found completing in-depth financial research online prior to investing. Also news hounds, these 30- and 40-somethings tend to have young children in the home.

Personicx Hispanic:

Saving TraditionsWith two-thirds of Saving Traditions being single, and 50 percent having children, the presence of single parents emigrating to the U.S. in this cluster is evident. Their net worth ranking outpaces that of their income, with accrual of net worth through ownership of their homes.

Metro ModeratesLiving in the more metropolitan areas with middle incomes and of middle age, the savvy members of Metro Minimalists know how to stretch a dollar. Coded as some of the least acculturated households, they tend to be renters and have not yet accumulated sizeable net worth.

Do some of your best customers fall into one of these sample Personicx clusters?

“We can clearly see the value in Personicx Digital — we now have a defined universe to focus on for increasing share of wallet and know where to start with our mobile marketing campaigns to make the most of our budget.”

Director of AnalyticsFortune 500 Financial Institution

An effective visualization tool is invaluable to the marketing professional. It can be tied directly to the success or failure of your marketing strategy, and your ability to gain support and investment from your executive management.The Personicx Analysis Tool brings your market segmentation to life — allowing you immediate, point-and-click access to:• The segments that define your customers• Their demographic characteristics• Counts, distributions and key indices• Consumer survey responses• Product and service propensities• Neighborhood demographics • And more

Through this web-based tool, you’ll get an immediate picture of your customers to better understand who they are, where they are, what types of products they use, their purchasing behaviors and their channel and media preferences. And you’ll know where to find more just like them. And that’s not all. You’ll also be able to identify where your competitors’ customers are and how they differ from yours. Visualize that!

Visualize your market, capture your market with the Personicx Analysis Tool

Customer Portrait Analysis — know the demographic, behavioral and survey attributes that best define your customersPortrait Comparison Analysis — Compare your customers with behaviors gleaned from survey research to define marketing and communication strategiesSWOT Analysis — compare your customers to others so you know where you have the best retention, growth and acquisition possibilitiesCompetitive Analysis — see where your competitors’ customers are and how they differ from yoursMerchandising Decisions — view product propensity by specific geographies to aid merchandising by local marketMedia Decisions — recognize who watches television when, who prefers radio and who is influenced by print ads to aid in allocation of media spendResponder Analysis — map out where your responders are coming from and see in an instant the segments they belong to and the characteristics of those segmentsService Offerings — determine likely users of specific services and where they are most highly concentrated for optimal response to offerings

Visualize this

Rank the Behaviors of Key Segments

Understand Local Markets

Precise Customer Analysis

American lives are dynamic so is PersonicxEvery year, 30 to 35 million U.S. households undergo a significant change in life stage — children are born or leave home, careers upgraded or ended — that substantially impact how your company needs to market to reach them successfully. Personicx lets you keep up with changes in the lives of your customers and prospective customers. Updated monthly, Personicx can indicate which consumers have recently migrated from one cluster to another, providing actionable information on who just moved into and out of your target markets. Forget old-fashioned lag times, Personicx lets you use pre-emptive acquisition, retention and cross-sell programs for a serious competitive advantage.

Your customers are unique so is your segmentationIt starts with the concept of multidimensional insight, pulling together online behavior (what customers key in search, digital footprints), customer behavior (what they buy from you, how frequently, how recently, how valuable), attitudes and personalities. Each customer brings a unique dynamic to your business that you would like to integrate into your marketing, your go-to-market tools and your segmentation. Personicx can help. By tying your multidimensional consumer data to the Personicx segmentation systems, you have the rich behavioral information balanced by the predictive and projectable information from the segmentation systems — the best of both worlds.

Other companies offer consumer segmentation systems, but none compares to the precision or robustness of Personicx. Thanks to Acxiom’s proprietary InfoBase individual and household data, Personicx is overwhelmingly the most accurate segmentation suite on the market. And Acxiom’s data is updated monthly to give you the most current knowledge about changes in household life stages, lifestyles and individuals’ digital behavior.Acxiom Corporation’s Personicx segmentation gives you an unmatched resource for reaching your best marketing targets — from its life-stage based 70-cluster system and specialized, digital,

ethnic and industry systems to its tools for predicting, visualizing and analyzing your markets. Direct mail to email, online to offline, individual to neighborhood, Personicx will help you narrowcast personalized and coordinated contacts for optimum results. By helping you better market your offerings—from introduction through the entire product lifecycle—the Personicx advantage provides a return on investment and a competitive advantage that is so substantial, you will wonder how you were ever successful without it.It’s another way that Acxiom helps you turn information into intelligence.

Personalize your marketing with Personicx

“We help consumer companies optimize customer value at every interaction. Personicx,

segmentation for a connected world, is a key component in that equation.”

Scott E. Howe Acxiom CEO and President

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About Acxiom

Acxiom is an enterprise data, analytics and software as a service company that uniquely fuses trust, experience and scale to fuel data-driven results. For over 40 years, Acxiom has been an innovator in harnessing the most important sources and uses of data to strengthen connections between people, businesses and their partners. Utilizing a channel and media neutral approach, we leverage cutting-edge, data-oriented products and services to maximize customer value. Every week, Acxiom powers more than a trillion transactions that enable better living for people and better results for our 7,000+ global clients.