Marketing teams never have enough information (data) about their consumers. They have lots of data about their customers but not consumers – those souls wandering through a brand’s marketplace, looking for a place to land. “We need more data,” is often the clarion call to the data scientists. We need to build deeper consumer profiles to better unveil consumer insights.
In this blog, I suggest we do not need more data, we need the right data. Marketers are told more data will enable their teams to develop laser-focused marketing campaigns that resonate with their target audience, fostering a stronger connection and brand loyalty. By understanding consumer motivations and pain points, companies can fine-tune their product offerings, enhancing the overall customer experience. Marketers who treat this data as granular will not succeed. Consumer motivations and pain points are never static and third-party data can be confusing and, overlapping and often irrelevant.
Marketing should focus on building consumer and customer profile from homegrown FIRST PARTY data. Most of this data should come from existing customers by asking for it. Then use that data to identify prospects interested in your product or service to attract them, while creating campaigns to excite you customers to buy more. Then keep repeating the process.
According to Lytics, “two-thirds of marketers are overwhelmed by the amount of data being collected.” Make sure the data you are collecting is empowering, not hindering, your teams.