Part Two of a Two Part Series:

In Part One of this Two Part Series, we discussed the importance of having access to data-driven customer insights and the challenges, despite billions in investment by marketers in Big Data, to effectively obtain and use these insights to personalize relationships, deliver relevant, compelling messaging and offers, and increase the bottom line. We also shared that one of the most conclusive sources for obtaining and acting on individualized customer knowledge may be “locked up” in your enterprise mobile apps.

So you’re probably asking yourself, “What knowledge can I get from my apps?” and “How would I use it if I got it to improve performance?”

Appropriate questions, to be sure.  

Let’s tackle the knowledge question first. We all know smartphones have become a physical extension of their users.  Just like wallets or car keys, they’re brought along virtually everywhere customers go when they’re out and about in their daily lives - from shopping to dining to attending local events and activities that they’re passionate about, from local sports and performing arts events to fitness classes and concerts.  

With new data-driven technologies that easily connect to apps on these mobile devices, marketers can for the first time know precisely where app users go, when, and most importantly they can understand these customers’ interests, affinities, and passions in a privacy-friendly way—even when your customers aren’t actively engaged with your apps. 

So what does this mean?  It means that you can understand, for example, which customers are running enthusiasts, avid wine lovers, or sports car enthusiasts . . . or all of the above.  It means that you can use this real-life knowledge, rolled up into psychographic segments to predict buying intent and personalize your interactions with customers and the offers you deliver to them.  It means driving an increase in share of wallet and extending lifetime value in the process.   

As for the second question “How would I use this knowledge to improve performance or solve business problems?” the short answer is “In many ways,” including:

• To drive incremental sales and revenue—by volume and by frequency

• To deliver true cross-digital platform messaging and offer relevance and consistency

• To minimize customer churn to competitors through the ability to know precisely which customers are defecting to competitors as well as which messages to send them and when based on your knowledge of their lifestyles and passions 

• To maximize lifetime value by showing your customers that you know them and can anticipate their wants and needs

• To prove OTO Attribution from targeting to conversion

• To increase app user downloads, creating a virtual circle of intelligence and revenue growth with look-alike modeling

• For online publishers, to increase ad performance and revenue per ad served, giving advertisers granular competitive intelligence to arm ad sales with precise account targeting  

But you may still be thinking “OK, how and where do I practically execute on this knowledge?”  Again, the answer is “In many ways,” including:

• In-app targeting and re-targeting:
  • Serving personalized, relevant native/display ads and content to engaged users based on highly predictive lifestyle segments
  • Serving personalized push notifications based on user location, date, and time

• 1^st party audience targeting, re-targeting, and increasing app downloads:
  • Via customer visits to your owned desktop and mobile websites
  • Via desktop audience extension targeting including direct/premium, ad exchanges, and networks
  • Via mobile audience extension targeting to mobile ad exchanges and networks
  • Via targeted email marketing

• Enterprise segmentation enrichment via the integration of real-life psychographic lifestyle segments with your current demographic, geographic, purchase history, and other attributes

So now you know just how powerful your mobile apps can be for gaining essential insights into the interests, affinities, and passions of your customers.  You also have a better feel for the types of insights you can get based on what your customers do and where they go in their daily lives.  And perhaps most importantly, you now know how you can use these insights to solve real business problems and how and where you can practically apply this unprecedented knowledge to drive share of wallet, increase lifetime value, and increase loyalty.

Is it time to wake your sleeping giant?

Request a demo of Gravy GOLD’s unique local consumer insights, analytics, and marketing segmentation now.