For retail marketers, the holiday season is upon us and the forecast looks bright. The billions of e-commerce dollars on the table are causing a surge in competition that will increase as the holiday season draws closer. Digital marketers facing increased competition to be heard by consumers need a strategy that reaches more of the right consumers—earlier in their path-to-purchase.
See Great Consumers Earlier
Right now there are consumers who are a great fit for your brand even though they haven’t started showing online behavioral signals. Offline consumer profile data and predictive analytics are two tools that can be used to find and target consumers highly likely to purchase your brand’s product.
We recently worked with a prominent retail company that was using traditional prospecting programs, including search marketing and contextual placement, but still needed higher conversion rates with higher revenue per lead.
Target “Nice” Consumers Faster
To help this company target high-value prospects at scale, we created a custom audience for the retail brand, focused on finding prospects likely to spend more per order than the average person. To do this, we started with a sample of the retail brand’s best customers. The High-Value Prospecting solution used the sample and TruSignal’s offline consumer profile data to create a model that predicted consumer value. We used this model to score 220 million U.S. adults one at a time. The profiles with the highest scores were those who looked most like the brand’s best customers—those highly likely to convert.
We onboarded the audience, using our database of anonymous cookies and hashed emails, to bring the offline profiles online. Then we managed the campaign across display and social on behalf of the retailer for more than 30 days.
Tidings of Digital Marketing Joy
In order to measure the effect of the High-Value Prospecting solution our client used a controlled side-by-side test. After creating identical control and test groups, the client applied the High-Value Prospecting solution to the test group. Using the company’s CRM file, we matched new leads, customers, orders and revenue generated during the campaign to both the audience targeted by the High-Value Prospecting solution and the controlled baseline of unexposed users. When compared to the control baseline, the High-Value Prospecting solution delivered an 83% increase in conversions and increased revenue per lead by 19%.
These results demonstrate the powerful impact of Big Data and predictive analytics on digital marketing and customer acquisition campaigns. This acquisition strategy helps digital marketers to reach the right consumers before the competition—an invaluable tool during a shopping season worth $300 billion.
If you’re ready to learn a bit more about predictive analytics, and how it works, you can check out this blog: Why Predictive Analytics is a Must-Have for Your Digital Marketing Strategy.