Brands have many opportunities to gain insight into their customer base through online and offline interactions, but this data is often siloed, leaving gaps in your understanding of existing and potential customers.
Data onboarding and enrichment services help to fill in the gaps and unlock opportunities for reaching new customers. With the support of a privacy-compliant data partner, you can find new clients more easily and then tailor experiences to their unique needs and preferences.
Finding net new customers with data onboarding
One of the biggest opportunities brands have when it comes to their customer data is the ability to find new customers who are like the people already in the brand’s customer base. By onboarding offline data from transactions, loyalty schemes, surveys and other sources, brands can develop targetable segments for marketing efforts.
However, there are two common barriers brands encounter.
The first is the siloed nature of their data: online sales data, offline transactions and market research often sit in separate systems, preventing the brand from getting a holistic view of their existing customers.
The second barrier is the use of deterministic onboarding: This traditional methodology uses one-to-one matching to find specific customers online — which prevents the brand from targeting net new customers. Additionally, deterministic matching may skew the brand’s segments unintentionally. For example, if a significant percentage of older customers don’t interact with the brand online, they won’t show up in a one-to-one matching scenario, which would create a model that skews younger than the actual customer base.
A non-deterministic approach not only solves these problems, but also creates opportunities to grow the business by attracting new customers. For example, Eyeota’s onboarding methodology uses a one-to-many matching process and geographic location markers. This enables brands to bring their data online and match with privacy-compliant profiles that exhibit behaviors similar to the existing customer base to build targetable cohorts.
Creating better customer experiences with data enrichment
After finding and attracting a new set of customers, data enrichment services provide brands with a better understanding of these individuals. Without data enrichment, your view of customers is very limited.
For example, consider a brand that sells personal hygiene products. If a potential customer goes online and visits a product page for deodorant, the brand only knows one thing about that customer: They are interested in deodorant.
Essentially, without data enrichment, brands only know how consumers engage with them. To gain a broader understanding of these customers, including their interests and demographics, brands should work with an enrichment partner like Eyeota.
In the case of the deodorant brand, Eyeota would pass its data asset into the brand’s environment so it can perform an overlap analysis and begin to fill in the gaps. This creates a more holistic view of the customer and ultimately generates a better understanding of the entire customer base.
The opportunity then expands beyond the initial customer. Remember, there are many more potential customers out in the world who exhibit behaviors similar to the initial customer who viewed a deodorant product. With deep insights into this wider audience, the brand can make more informed decisions about its products and branding, in addition to supporting its marketing efforts by tailoring customer experiences or offering new relevant products.
Ready to find and engage new customers online?
Unlike traditional deterministic onboarding solutions, Eyeota’s one-to-many matching solution enables you to find new customers who exhibit behaviors similar to your existing customer base. Plus, this methodology is privacy complaint across the globe.
As those new customers enter your brand’s ecosystem, data enrichment helps you to understand more about them. With deep insights, you can tailor the customer experience for better engagement and more selling opportunities.
To learn more about how Eyeota can help you learn more about your customers and identify new targetable segments, get in touch with our experts.
