All companies aim for brand longevity with their consumers. People buy from the brands they love. Increasingly, the brands people love are the ones meeting more than just their needs – they also align with their values, whether it’s a passion for the outdoors or a political stance.
So, as a marketer, what do you need to think about when it comes to brand longevity and building long term relationships with your customers? Well, when you think about knowing people well enough to align with their values, there’s a lot you need to know about them before you even get to that point – their demographics, life stage, household details, who they bought something for if not themselves, and more. Will this single mom who browses our site often but rarely buys something for herself appreciate our perspective on closing the wage gap and be moved to purchase? How about this recent college graduate? Today, the information that can help answer these questions can be sourced from different places.
But could there be other tangential behavioral characteristics that you have not yet considered? These unexplored data sets could help you uncover key indicators about how people perceive your brand.
But it’s a fair bet that you’re probably missing some of these details. Understanding people at this level involves casting a wider net to find meaningful data connections. You’ve probably already thought about integrating with your partners, like automakers or retailers. But could there be other tangential behavioral characteristics that you have not yet considered? These unexplored data sets could help you uncover key indicators about how people perceive your brand.
There are two routes to sharing mutually beneficial data that can elevate your brand as one that really owns its voice and how that voice is heard:
- Work with an identity resolution provider. This is the easiest option for most companies. By engaging a vendor that has access to various second and third party data streams, you can explore your options for what is most effective for your business and make those data connections. Moreover, building data sharing tools is a significant technical challenge. It’s worth it to engage an identity resolution provider that solves this challenge daily and can seamlessly connect your data to the streams you want.For example, let’s say a restaurant reservation app wants to understand which of its users are hardcore foodies willing to travel to eat at the best restaurants, and which are casual diners who mainly use the app when dining locally. It could use an identity resolution vendor to onboard offline data or connect to other data sources rich in behavioral characteristics. Doing so would help carve out two distinct audiences from its database and reveal opportune moments to show relevant ads and boost app usage.
- Work with an identity resolution provider AND build your own data warehouse. If your company is a large conglomerate, this may be a better option. Brands building their own data warehouses often have a number of internal data siloes or a need for external companies to contribute their data to enrich overall understanding of consumers. An identity resolution vendor can create data connections and unite these disparate sources.Let’s take a big box retailer as an example. Within this retailer are thousands of brands who would benefit from knowing not only how their products are doing, but also how they relate to purchases the next aisle over or across the store. By creating a data warehouse where brands can share information with each other, all can better anticipate customer needs and succeed in an increasingly challenging retail environment.
Finding meaningful data connections is increasingly table stakes for brand longevity and survival. Companies that provide customers with surprising and delightful experiences continually assure them that their dollars matter as much as the beliefs they share. That level of trust and understanding is what we all want at the end of the day.