Analysing socio-economic background of consumers can help marketers provide personalised experiences

New Ideas in MarketingEssential news for marketers, summarised by YouGov
December 17, 2019, 1:57 PM UTC

Brands should wield data to effectively understand customers and build accurate personas.

This piece suggests companies should analyse customer data like socio-economic background, past transactions and brand-consumer interactions. It can help businesses create buyer personas that are essential for delivering personalised experiences. Data-led personas can not only create new marketing techniques but also ensures effective communication to suit the audience.

Comprehending data efficiently can further help businesses understand their consumers’ needs and build long-lasting customer relationships. Moreover, a cited research found that 47% of consumers are willing to share their data in exchange for better customer experience.

Integrating consumer data in central decision-making processes of the company can help build accurate buyer personas. The author also suggests that marketers should set the tone for data usage and personalisation to avoid regulatory intervention and maintain customer relationship.

Read the original article

[4 minute read]