Precision Targeting: Mass Marketing to Individualization

August 29, 2023

Harsvardhan Tripathy, Jordan Cardonick,

Consumers are transforming from fixed and unvarying archetypes to rather dynamic & constantly evolving entities. Businesses subsequently are shifting and trying to adapt to the dynamic customer needs & demands. Today’s consumers are actively engaged in their purchasing process, carefully choosing offers that align with their changing needs and favoring products and services tailored to their individual preferences and social benefit. They also demand experiences to possess distinctiveness, entertainment value, interactivity, and customization.

While this may have been possible to deliver on even 5 years ago, marketers are facing the steep task of attentively listening, promptly responding, and effectively providing these experiences as part of a successful customer experience strategy while be hindered with ever growing privacy requirements and legal regulations.

Addressing this dynamic puts more and more onus on requiring segmentation, one of the most trusted data-driven techniques, to continuously becoming more precise and detailed by leveraging the consented first-party data and technology infrastructure built around it. By putting this at the center of customer experience planning it allows for the ability to

This is not to say that segmentation does not require its own evolution, it does as well. Many traditional approaches like LTV / Churn / Propensity are valid and valuable, but often lack the “individual” inputs that allow them to be successful once deployed for activation as opposed to understanding.

The need for this hyper-personalization is derived from the shift in the marketing domain from a product-centric approach to a more customer-centric approach. Conventional segmentation methods are inadequate in facilitating tailored experiences for their customers and meeting their personalized expectations. In recent years, corporations have successfully accumulated substantial quantities of consumer data, first-party data, thereby facilitating marketers' ability to progressively enhance their customer segments through the incorporation of increasingly specific criteria.

The evolution of marketing segmentation strategies is progressing at a swift pace, such as:

This has become possible with the availability of data and data science that aim to supplement the fundamental data set with intricate components such as:

This approach is not without its challenges though:

At Blend360,  we understand the evolving landscape of customer data collection. Customer analytics and the challenges it presents. Our team is here to provide expert assistance across all area’s customer & marketing analytics, empowering you to make informed decisions despite the limitations imposed by privacy changes. Count on us as your trusted partner in navigating these challenges and optimizing the impact of your marketing efforts.

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