Nielsen's Marketing Mix Modeling Solution
People-based marketing represents an industry shift from targeting cookies to targeting real people across channels and devices using a persistent identity. For marketer seeking to understand the complete consumer journey, create valuable brand experiences and improve ROI, people-based marketing isn’t just a good idea – it’s a necessity. In fact, LiveRamp’s State of People-Based Marketing report found that nearly all marketers (over 90%) agree that the ability to execute people-based marketing is of significant importance. Yet the vast majority (84%) struggle to do so, with data fragmentation, identify resolution and omni-channel consumer views cited as major obstacles.
While these challenges are common, they aren’t insurmountable. Marketing intelligence solutions can help jumpstart people-based marketing strategies by aligning various data sources, creating rich audience profiles and improving the relevancy of marketing and advertising at every stage of the consumer journey. Let’s explore:
People-based marketing requires having insight into every touchpoint in the consumer journey, so you can engage customers and prospects with relevant messages and offers at key moments of opportunity. Yet most likely, your marketing is managed separately by different internal teams, and your advertising is managed by one or more outside agencies. When channels are managed and measured in silos, it’s impossible to holistically assess performance, or track the consumer journey from first exposure to final conversion.
Marketing intelligence solutions break down these silos, incorporating all your audience and interaction data into a single, centralized repository, so you can analyze and optimize your marketing and advertising performance by audience segment. With a holistic view of what’s working and what’s not for each type of audience, internal and external teams can work together to maximize spend efficiencies and deliver a better overall experience.
People-based marketing offers marketers the chance to target real individuals, not theoretical segments or archetypical buyer personas. Most CRM systems contain the information needed to personalize interactions with prospects and customers, but marketers have historically lacked the ability to resolve identity across all digital channels and devices. Without a single view of each individual, you can’t deliver relevant, one-on-one communications across their chosen devices, browsers and channels.
Marketing intelligence solutions solve these challenges by combining effective cross-device identification with deep demographic, intent and interest attributes to build robust consumer profiles. You can then segment and target these profiles with more relevant, timely and effective messages and ads that boost conversions, improve retention and increase customer lifetime value.
People-based marketing prioritizes how brands connect and engage with consumers along their journey. But modern consumers no longer move from awareness to consideration to conversion in an orderly, linear fashion. Consumers now dip in and out at any point, and they expect different interactions depending on what stage they are in.
Marketing intelligence solutions not only help you understand the journeys your customers take, but also optimize their experience with individual touchpoints along the way. By combining audience and attribution in a single platform, you can see all the consumer touchpoints involved in the buying cycle and track how each interaction contributes to a desired action at each stage in the funnel. With visibility into how certain audiences are responding to your messages, offers, creatives and other granular tactics, you can spend your marketing dollars more efficiently and effectively while making the consumer’s whole journey a better experience.
People-based marketing is the strategy of the future. So why wait? With marketing intelligence, you can be well on your way to delivering targeted, people-based messages and ads that drive better experiences, and better business results.
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