All businesses need to extend their reach and invest in new customer acquisition. Find out how Experian can help you find suitable prospects by clicking the headings below…
With the right help, it’s possible to use a range of demographic and research data to deliver bespoke audience strategy development. As part of this, you may consider developing one or more predictive models that are tailored to your specific brand objective. These can then be used by your internal and agencies teams in a multi-channel approach.
Direct mail, partially addressed mail and door drops are critical channels for many organisations. Despite the trend towards online campaigns, an engaging and relevant postal campaign can provide exceptional ROI for brands – and not only with audiences who are less likely to be online. Conversely, cost per contact is likely to be higher, so it’s critical to ensure that investment is aimed at audiences that will provide maximum response rates.
With online channels, the temptation is to use in-platform auto-optimisations that become self-fulfilling in audience selection. Many organisations find that over the long term customers onboarded in this way aren’t as profitable as those enrolled by other channels, despite potentially being cheaper to recruit initially. Using audience insights at either an individual or geo level alongside your platform algorithms can provide increased performance.
There is no doubting the importance of premium campaigns to support both branding and performance activity. Again, using audience data within these channels can allow messages to be tailored to particular segments. Consulting experts in the field, like those at Experian, can help you plan campaigns across a wide range of premium publishers and addressable TV audiences.
Organisations can often see the value of partnering with other brands to share data and insights to drive mutually beneficial marketing programmes. But they want to do this in a secure, privacy-safe way that doesn’t compromise consumer data by passing it on to partner organisations. Fortunately, there are several ways to achieve this.
Recruiting new customers is the key to commercial growth. A service like Experian’s retail co-operative solution allows organisations to pool insights on individuals to better understand transactional trends. The retail co-operative solution enables members to combine product category information; RFM (recency, frequency and monetary) criteria; and demographic data to target their best prospects.
When brands are looking to work with partner organisations, it’s helpful to engage a neutral party who can process, enhance and analyse the cross-over between customer files in a privacy-safe but transparent way. Experian offers this type of service, providing analysis to both parties on overlaps and comparing profiles found with the two consumer bases to assess synergies between the brands.
To work with another brand on co-marketing activity you first need to be able to assess initial synergies between the brands. Later, you may also want to evaluate post-campaign performance to gauge whether the activity has brought new customers onboard. Evaluating the success of the partnership is another area where you may wish to call on a ‘neutral’ partner like Experian who can support both parties.
The use of data clean rooms is growing. They rely on a neutral environment where organisations and their partners can join forces to gain insight and deliver connected experiences without sharing raw data between organisations. With privacy and security now at the forefront of many organisations’ thinking, there’s an increasing variety of solutions to support privacy-safe processing, including Experian’s Match tool.