In an article published on MediaPost and written by Connexity’s CEO, Bill Glass, Bill discusses how smart marketers can use life stage targeting to reach consumers at key points during their lives when they are open to changing their purchase habits.
Click here to read the entire article, or read below for a few notable quotes.
“When consumers go through major life events – graduating from college, getting a first job, getting married, moving, having a baby – shopping habits can change if we’re engaged by a clever marketer.”
“…constructing accurate life stage segments demands two essential requirements: declared demographic data and massive volumes of shopping intent data.”
“The first thing you need is a robust set of declared demographic data to serve as a truth set. Shopping surveys, presented at key points throughout the online retail ecosystem, are excellent vehicles to collect age, gender, income, education, ethnicity, family composition – all sorts of demographic data from tens of millions of consumers.”
“Next you need accurate shopping-intent data so you can detect purchasing patterns.”
“The real value comes by joining both data assets together. Data scientists can use statistical analysis to reveal life stage segments based on shopping patterns and validate them with demographic data.”
“Once you’ve identified when consumers are at critical life stage changes – along with the products they’re likely to buy – the final step is to deliver those precisely timed ads to change their shopping patterns.”
“Add retail signals to demographic information, deliver it programmatically and you have the recipe for results.”