Data driven marketing has always had deep consumer insights at its core. Every campaign tends to understand who it is targeting, what their audience’s lifestyles and preferences are, their demographics, their spending capability and most of all, what their purchase journeys look like and which parts of the purchase journeys the campaign can influence. All of this forms part of audience segmentation.
This process, started as plain old demographics – age, gender, income etc – has transformed in the digital age. Thanks to social media, search, and browsing activity, brands now have access to a wealth of data about their consumers’ lives and lifestyles, ad and brand preferences, and much more. Digital heavyweights like Google and Facebook have been able to use this to their advantage, bridging the gap between plain old demographics and softer aspects of consumer personas.
However there is a new dichotomy that brands are starting to notice. The question they are now asking is whether online personas really tell the full story about their audience segments. Surely there is more to them and their buying journeys than what they see, like, share, and otherwise engage with online? No amount of data is enough when it comes to strategic, on-point targeting. And marketers are already asking for deeper insights than just online personas and demographics. Where can they find these insights?
Location segments for a holistic picture
As of 2017, 1.9 billion Internet users reside in Asia and over 70% of them access internet via smartphone. This simply means that the next most holistic data source for Asian marketers will include internet data that has been layered with additional context provided by a smartphone. And this will mean that users’ online activity will get complemented by rich insights about where consumers reside, where they work, where they shop, and how they engage with advertising in different physical locations. Thanks to mobile, marketers can make existing audience segments available to them through social media and search engines – such as Facebook, Twitter, Snapchat or Google – far more holistic by adding real world flavours into them.
And if our recent conversations with marketers on the sidelines of the launch of Lifesight Audiences is anything to go by, the marketing ecosystem is ready to welcome these holistic location-based audience segments with arms wide open across their entire spectrum marketing operations and decision making process. Here’s why.
More bang for every ad dollar
Combining location-based audience segments with social media audience data can result in immense scale and reach for brand campaigns using Lookalike Modeling. At the same time, cost per click is also lower when running a social media campaign using data from outside of specific platforms like Facebook or Instagram.
Using location based segments and lookalike techniques, marketers can also –
• Retarget previous customers and entice them into repeat visits and purchase
• Target competitors by offering incentives and promotions to customers who prefer competing brands and bring them into your own outlets
Clearly, location segments are the way forward for marketing in Asia. However, it is a relatively new concept in the region. This means there are several nuances and considerations still in the works. What brands need is guidance and consultation on privacy best practices, lookalike-modeling techniques, and other aspects of building location-based custom segments for digital and social campaigns.
And that’s what we are here for. Request a demo, and let us show you the way forward for location-based segments and their true impact on your brand’s marketing effectiveness.