Have you made sure you’re ‘fishing where the fish are’?
Our latest blog looks at ways you can make different data sets work harder to drive footfall and digital traffic, with engaging and door drops and partially addressed mail.
With two practical examples that could be applied in the Supermarket/ Grocery and Retail sectors to drive traffic in two of Summer’s most valuable opportunities:
Read on to avoid spending valuable marketing budget on fish who will never bite!
One answer is developing an understanding where your ideal prospects and existing customers are most concentrated, with geographical analysis.
Whether you’re:
driving a regional targeting strategy for your next acquisition campaign
planning new locations for new stores/branches
investigating the geographic distribution of existing customers vs revenue contribution
analysing drive time to your locations of existing customers
…visualising these areas can fuel powerful business decisioning, across both acquisition and retention.
One way we’re helping brands across a range of sectors establish the ideal acquisition audience and develop laser-focused targeting approaches, is with a bespoke database profiling the attributes of all UK households.
This can include variables such as:
Age of dwelling
Type of dwelling (flat/apartment, terrace, semi-detached, detached)
Market value
No. of bedrooms and bathrooms
Owned or rented
Household income
By interrogating the available data, we can identify and remove undesirable households, whilst isolating ones with attractive attributes.
A prime example: short-term property rentals – such as student housing.
The frequent turnover of tenants reduces the prospective lifetime value of the property, and with term times and holidays the property is often empty for weeks at a time during key trading periods.
For larger ticket items or services, with no ownership of the property, tenants can’t readily authorise the installation or adoption of many different products and services.
Conversely, larger sized homes, families, multigenerational and multi-occupancy households, specifically in owned properties, might be identified to be more attractive prospects.
Data forecasting the most responsive areas of the UK by postcode region can then be overlayed with these household attributes, to target at a granular household level.
Over 1.5m homes change hands every year and Home Movers are one of the most valuable consumer groups in the UK, with a purchasing power of over £12 billion each year.
Typically, home movers:
have a 20-40% higher AOV than non-mover customers.
represent between 17% and 27% of a home goods retailer’s customer revenue, but only 5% in terms of volume.
are on average, 16-36 times more likely to buy a sofa or a bed 4-7 weeks before they move home
When moving into a new home, people are more likely to spend in relevant DIY categories, like paint, fixtures and fittings and flat pack furniture.
In addition, 85% of people moving home change Gas, Electricity and/or Telecoms providers, representing a huge opportunity for businesses in these sectors.
The difficulty with home movers, is being able to communicate with them & at the right time.
Identifying key life stage events through our access unique acquisition and supplementary data sets, mean we can help you transform your clients’ retention and acquisition strategies.
A single point of data could make all the difference in your next campaign.
For example, if you sold bicycles online, excluding all UK households with a car registered at the address, could leave you with a more refined prospect pool, of people looking for a way to get around!
Brits will spend around 8 and a half months of their lives in Supermarkets, typically visiting stores three times a week, and spending just over 37 minutes there each time – according to a 2022 study.
With previous research showing UK adults visit up to 4 different Supermarket chains each month, how can brands in the sector drive footfall and win share of wallet in the hotly contested category?
Below we look at two practical examples of applying a smarter approach to targeting, across two key summer trade events in 2023.
Research from vouchercodes.co.uk shows that the average Brit will spend 100 per cent more (an extra £102) over a bank holiday weekend – in a bid to make the most of the extra day off.
According to the research, ‘a BBQ at home’ or ‘going to a party/BBQ hosted by a friend or family member’ are two of the top 10 ways to spend the August Bank holiday.
So how can Supermarkets fend off the competition and make sure they’re the destination of choice for those all-important Bank Holiday supplies?
Consider this Approach:
Access data on the Top n towns and cities in the UK, with the largest average garden size
Overlay data from our bespoke database of all UK households to exclude undesirable home types, like:
- flats and apartments – no garden
- student rented accommodation – often empty at this time of year
Grow your audience by adding home mover data – could this be the first opportunity to entertain in their new home and garden?
Overlay drive time mapping of both your stores and competitor stores, to isolate key battlegrounds.
Drive prospects to switch from a rival supermarket that’s closer to their home, with carefully selected BBQ essentials and a stronger offer or discount if redeemed one of their nearest stores.
Remove current customers from your prospect pool and send them a separate, highly targeted communication rewarding their existing loyalty and looking to grow value with data-driven cross-sell and up-sells.
Mckinsey research shows that 71% of consumers expect personalisation, so isolating current customers and sending something relevant and data-driven is even more important, especially when 76% of those respondents said they would become frustrated when they don’t see the personalisation they expect!
According to Mintel, Brits spend £1.2 billion sending kids back-to-school and M&S says it is the third biggest shopping event of the year – eclipsed only by Christmas and Easter.
Check out another approach to unique targeting strategies that Supermarkets and retailers could take, to come top of the class in the battle for back-to-school sales:
Access data sets that map catchment areas for all UK schools
Overlay data from our bespoke database of all UK households to exclude undesirable home types, like:- single bedroom flats and apartments- student rented accommodation
Layer with socio-demographic data, at a household level, to isolate to homes withPrimary School Parents: with primary-school aged childrenSecondary School Parents: with secondary-school aged teenagers
Add drive time mapping of both your stores and competitor stores, to isolate key battlegrounds
Drive prospects to switch from a rival supermarket that’s closer to their home, with carefully selected Back-to-school essentials and a stronger offer or discount if redeemed at one of your nearest stores.- Tempting shoppers to switch with a timely discount could gain even more traction in 2023, with a 2022 YouGov poll showing that 1 in 6 shoppers have switched their main supermarket because of the ongoing cost of living crisis.
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