A Foundation for Profitable Growth with 1st Party Data Enrichment
January 11, 2024 | Verisk Marketing Solutions
Your 1st party data made better: The difference-maker for profitability and personalization.
It’s a hard pill to swallow: you may have volumes of data about your customers and prospects in hand, but how well can you attest to its accuracy and relevance?
Consumers are constantly changing, and your data needs to evolve with them. You need to enrich your foundational consumer data so you have the clearest picture of who your customers are, what they care about, and when they are in market.
Even data-rich organizations are often missing information relevant to their objectives. Kyle noted that “If I’m trying to market [bundling offers] to my existing home insurance policy holders… I probably have a ton of data already about their properties, but I don’t really have much about their automobiles, so we can append auto data to help highlight who are their ideal [opportunities].”
By improving existing consumer databases, we help marketers detect the most profitable opportunities as well as the best ways to engage customers and prospects, Kyle told the panel.
Armed with key segments, marketers still need to identify WHEN to reach out to consumers. Shopping signals provided by the 1st Party Enrichment platform highlight signs of interest and enable marketers to engage their customers early and be a part of the consumer’s consideration set before its too late.
“We’re engaging with consumers when they’re actually looking for services, and being more relevant in our outreach.”
—Kyle Hauber, Product Leader, 1st Party Enrichment, Verisk Marketing Solutions
You can enrich your first-party data with:
Identity: Validate and enhance the latest information for each contact, including name and address, phone, and emails, based on as little as fractional identity markers.
Attributes: Create a more complete view of your consumers by appending more, relevant characteristics of each consumer profile, including demographics, property ownership, financial characteristics, personal interests, and more.
Activation: Tailor your messaging and delivery for consumers based on who’s actively shopping and seeking products and services.
With more accurate and thorough consumer data, marketers can know exactly where, when, and how to reach existing customers. And to minimize and mitigate risk, 1st Party Data Enrichment meets the highest industry standards for data security and privacy.
We can show you what information you are missing, and how to get the data you need to maximize performance, profitability, and personalization. Get in touch with us today!