Ideas + Opinions
The Need to Take a Fresh Look at Consumer Data
By Rodric Bradford
COVID really means rethinking customer data and journeys from the basics up.
Our understanding of data-driven marketing and advertising has changed in the last six months, evolving into a real reflection of what is occurring with consumers in the changing economic, health and social environment.
The new rules of data. Large scale data is readily available to most brands, but simplifying and developing specificity within datasets has been a challenge. According to Patrick Johnson, CEO of Hybrid Theory, a data-driven advertising platform, the complex world of consumer data can be made simpler by following some new rules:
- Analyze current consumer datasets to judge relevancy for current economic, political and social climates;
- Separate any new data that has been retrieved in campaigns since the onset of COVID as the most relevant data;
- Re-trace all consumer journey paths via data to make sure they are relevant to the current market; and
- Verify all current data to ensure validity.
“We are asking each one of our clients what challenges they are seeing from collecting data, then modifying campaigns accordingly,” said Johnson. “Fresh data captured since the COVID outbreak is so much more relevant. Before we were using data to complete a person, now the right kind of data collection can help us build a picture of a new population right before our eyes.”
Why we care. Six months, the realization is growing that the world has changed, and among everything else that’s in a state of flux, traditional business assumptions are changing too. Crude demographics were already on the way out, but the need for understanding where consumers are in their lives, and the help they need, gets increasingly urgent.