In an ever-changing business landscape, harnessing the power of consumer behavior data has become paramount for decision-makers and technical teams. However, the market is flooded with data vendors, making it challenging to discern which one offers the best solution. Many organizations fall prey to alluring promises and end up with unreliable data that fails to deliver the expected results. And with the volume of data exponentially increasing over time, the need for a solid data solution is all the more critical.
The Data Dilemma: Not All Data Is Created Equal
Data leaders and decision-makers are bombarded with vast amounts of consumer data from various sources. However, not all data is created equal, and not all vendors possess the expertise to transform raw data into actionable insights. The lack of transparency and complexity surrounding data sourcing and preparation further adds to the confusion. As a result, many organizations lose trust in the data they rely on and grow skeptical about exploring new datasets.
But despite these challenges, the potential of accurate consumer behavior data intelligence to transform decision-making is too powerful to throw in the towel. It holds the key to selecting optimal store locations, allocating marketing budgets effectively, and making informed investments. Embracing change and adopting innovative data-driven technologies will be crucial for businesses looking to stay ahead in a competitive marketplace.
Azira’s Three-Pillared Approach to Data Quality
Azira’s Consumer Behavior Data Intelligence platform stands apart from other vendors due to its three-pillared approach:
Global, Quality Data
Ensure the highest quality data is used to fuel and train the models that convert raw data into insights.
Privacy and Transparency:
Develop actionable insights at any level of granularity without compromising consumer privacy.
Data Science and AI
Use advanced techniques to detect anomalies and uncover hidden trends that can fuel analyses and sound business decisions.
How Data Points Become Data Intelligence
Just like crude oil, raw data requires refinement to be truly valuable. Azira has perfected the art of converting raw data inputs into jet fuel that generates actionable insights for its customers.
How to rethink your media mix
First off, what is a media mix? Advertisers are constantly trying to optimize their campaign strategies, as well as their budgets. A media mix means harnessing a combination of different advertising channels for an ad campaign. This means prioritizing different media based on the return of investment.
Because of the restrictions on the use of printed flyers and the ever-evolving nature of technology, retailers and distributors are gradually being forced to rethink their communication strategies. This is particularly true given that today people are online more than ever and the internet is such a pivotal part of consumers’ daily lives.
What is the best strategy? The solution is to customize a media mix, by using a hybrid communication strategy including digital flyers and digital advertising. This provides the best of both worlds.
- Digital flyers are cheaper and reduce waste (the perfect communication advantage for a CSR strategy).
- Digital advertising means you can target specific profiles using analytics tools which track performance, which in turn allows you to optimize costs.
For retailers that still prefer the flyer format, online alternatives are available which allow them to effectively share a digital flyer and replicate the printed flyer experience by featuring a wide range of products. Advertising agencies such as Azira can create a digital version of a paper flyer.
Some retailers already offer fully digital flyers on their websites. Many state in their corporate social responsibility roadmap that they are aiming to reduce the social and environmental impact of their activities. For some, e-commerce developments have meant that they can have a catalog that is 100% online.
Finding your media mix
There is no perfect media mix. As we already mentioned, the choice of media used in a communication strategy depends on several factors, each of which is specific to the brand. A media mix will be different for every brand, depending on consumer habits of the target audience, the advertiser’s budget, return on investment and other factors.
Individual retailers can develop a strategy to suit their specific needs and objectives, whether national or local. Depending on this, some brands will adopt a specific strategy using online and/or offline levers.
What are the advantages of online advertising over paper?
With technological developments and evolving consumer behavior, marketers are including more digital activities in their media strategy. This is particularly true following the “Oui Pub” program, where it makes sense to use digital tactics to respond to environmental and financial challenges.
Optimizing print format for online
Digital flyers have their benefits, both for consumers as well as advertisers. Extra functionalities can improve the catalog experience. For example, interactive features can be added to advertising materials.
Retailers can use video to help get the message across and clarify what they are offering. This will increase conversion rate in the long run. The same applies for using links. An online version of a flyer can also link directly to products and guide the customer towards a potential purchase.
For redirect links, we recommend integrating CTAs (Calls to Action) which send the user to a navigation app that directs them to the nearest point of sale. Buttons with CTAs such as “Let’s go” or “Get offer” can lead them to the store. This type of functionality strengthens consumer engagement and also increases conversion rates.
Finally, digital format allows retailers to include more products without using more paper. You can include a wide range of products, to demonstrate to customers the extent of your range and how you can respond to their potential needs.
Expanding your catchment area
The catchment area represents the perimeter from which the customers of a sales outlet would theoretically come. A catchment area would traditionally look at where consumers live, without taking into account where they, or people close to the area, travel (e.g., professionals commuting to work).
Direct mail, as we know it today, focuses on a fixed catchment area, focusing on where the potential customer lives. This concept is traditionally rooted in the distribution methods of a store manager, but can be complemented by analyzing online and offline behavior.
By combining online and offline data we are able to take into account more information to offer communication that is more personal to the consumer. Therefore, having geographical data (such as place of work or places they usually frequent), allows you to map consumer travel. This will shake up and reinvigorate your catchment area, which was previously focused only on where people lived.
The time and financial resources spent on mass mailing, based on a traditional catchment area, would be better spent on the customized communication processes described above. For example, consumers would receive personalized digital flyers, referring them to the nearest store through CTAs.
Digital flyers allow you to boost and broaden your catchment area. The physical time and cost spent on mail marketing are reduced with digital flyers and targeted to the right people based on their travel habits.
With mailbox flyers you are unable to accurately measure performance. After sending a flyer, it is generally difficult for an advertiser to calculate their return on investment. How many customers really visited after receiving the flyer? Did they already plan to stop by before seeing the flyer?
You don’t know your real conversion rate. Online campaigns can be measured much more accurately, especially by monitoring the click-through rate. You can also use tracking UTMs in your flyer links, so you know the exact number of people that have clicked on your products.
If you want a more accurate idea of consumer response to your flyers, you can do A/B testing. Send two different versions of your visual to your contact list. See which gets most results and tweak your flyer as appropriate.
Digital flyers allow you to analyze performance, which in turn can help you develop a retargeting strategy. Knowing which profiles have already engaged with you allows you to target them with more personalized communication, optimizing the conversion rate for future campaigns.
Finally, you can track incrementality in your offline strategy. Also known as incremental measurement, this allows you to improve your media planning and optimize where you spend money. This strategy is very similar to offline A/B testing. It involves comparing the visit rate of group A who have seen one message, with group B who have not seen the message.
By having one group see the message and another not, you can calculate the potential increase in visits generated by the message you sent out. By comparing behavior of both groups, you have a better idea of how your campaigns are performing.
Post “Oui Pub” conclusions
The opt-in program is in line with current general attitudes and environmental awareness. It does not mean it is the death knell of printed flyers. As we have seen, hybrid marketing is a potential solution that can benefit retailers in a number of ways.
You can set up more repeat and profitable campaigns, while optimizing your ability to track performance in order to offer flyers that are tailored to your customers’ needs.
Overcoming the Challenges: Data Usability and Productivity
Despite recognizing the importance of data, many businesses struggle to fully utilize it. Data teams often spend an inordinate amount of time on data discovery, integration, and cleaning, leaving little room for actual analysis and data science work. This hinders productivity and leads to missed opportunities.
Azira’s platform addresses these challenges by delivering data in a user-friendly and flexible manner. Empowering clients to work in their preferred analytics environment, Azira ensures that insights are easily accessible to both technical analysts and non-technical users alike. By streamlining data cleansing and validation processes, Azira saves valuable time and resources, ultimately driving greater productivity and better business outcomes.
Unlock the Power of Consumer Behavior Data
In a data-driven world, consumer behavior data intelligence has become a vital asset for businesses seeking success and growth. The key lies in choosing the right data provider, one that values transparency, privacy, and data quality. Azira’s three-pillared approach to consumer behavior data intelligence sets it apart from other vendors, offering global, reliable data, ensuring privacy and transparency, and leveraging advanced data science techniques and the power of AI. By overcoming the challenges of data usability and productivity, Azira’s platform empowers businesses to make informed decisions, optimize strategies, and seize opportunities in the dynamic business landscape. Embracing this approach will undoubtedly unlock the true potential of consumer behavior data, propelling businesses toward a prosperous and data-driven future.
Azira’s data collection capabilities are extensive, thanks to strategic partnerships that provide us with consented consumer behavior data through mobile apps. In total, Azira gathers information on a staggering 1.6 billion people worldwide from over 100,000 apps. Unlike many other location data providers, Azira’s datasets offer global coverage of mobile devices, representing significant daily activity from over 44 countries and counting.
Ensuring data quality is paramount for Azira. As mobile device data often comes in a “dirty” raw form, Azira employs thorough and automated data cleansing processes. This filters out duplicate data points, fraudulent entries, anomalies, and other irregular data. The constant evaluation and updating of filters are essential to maintain data integrity and create a reliable foundation for generating insights.
Azira’s commitment to data integrity extends to monitoring data attributes through a rigorous proprietary data monitoring platform. This helps identify any changes that might impact data quality. Regular audits and collaboration with partners address ongoing challenges in the mobile data ecosystem.
Unlike data partners who act as “black boxes,” Azira believes in transparency and empowerment. We provide clients access to the underlying data, allowing them to explore, analyze, and derive powerful insights in their preferred analytics environment. Users of all skill levels, from line-of-business personnel to technical analysts and data scientists, can make the most of Azira’s data offerings.
To enhance the value of mobile device data, Azira enriches it with location contextualization, demographics, and audience affinity. This additional context enables customers to create custom audience segments for marketing and gain a deeper understanding of shopping behavior and other industry-specific analyses.