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HOW TO MAXIMIZEMINIMAL DATAEven a small amount of consumer data can

be leveraged to drive powerful insights

For current visitor data, something is always better than nothingRegardless of the identifier – be it a name, address, phone number, or email – or which channel it was ob-tained through, even a small amount of data can be lev-eraged by travel and tourism marketers to gain insight into who their best visitors are and how to find more like them. And regardless of how much consumer data an organization possesses, those assets can be used to better acquire and retain customers and even drive modeling and analytics efforts.

Having even fractional pieces of data is the first step to learning more about your customers and your best performing segments.

In this tip sheet, we outline the steps destination market-ing organizations (DMOs), travel and tourism marketing agencies, as well as companies like cruise lines and hotel chains can take to leverage even small amounts of consumer data to drive deeper insights into customers.

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1. Completing and Updating the Identity

The first step is to maximize your fractional consumer data by bringing a blurry picture into focus. For example, let’s say that you’ve collected a cus-tomer’s name through an inbound online form. A name alone won’t provide actionable insight or the ability to reach out and engage, and even adding an additional piece of information such as a zip code likely won’t be enough to complete the identity. This can be illustrated by the “John Smith conundrum.”

If your traveler is named John Smith and you know he lives in New York City, you will be contending with nearly 2,400 other John Smiths in the area. Adding additional identity markers such as an email, phone number or home address will help you find the needle in the haystack. A complete identity of John Smith will improve the lead value and enable expanded omnichannel reach and personalization.

Even if your organization is more advanced in its data asset collection and routinely gathers data beyond just a name, it’s also important to understand that data can decay at an extremely high rate. Data breakage leaves you with identities and attributes that are out-of-date or missing critical identifiers, creating contactability issues and inaccurate personalization.

Annual Data Decay by the Numbers:

>30% of DMS data is inaccurate

or incomplete

36 million people change

address

1.5 million new addresses

added

50 million phone number

changes

*According to Infutor ID Graph

How to complete identities and prevent breakage: Infutor’s ID Max helps turn fractional data, such as a name and email address, into a com-plete identity with full name, address, phone and email. ID Max also adds ad-ditional identity markers such as alternative emails, phone numbers, hashed emails and mobile ad IDs from an identity graph of 260 million consumers. With a solution like ID Max, your organization can reduce online form aban-donment by minimizing fields, while still allowing you to complete the identity of the correct “John Smith.” ID Max even updates contact information enhanc-ing CRM accuracy, to ensure that you’re always reaching the right customer.

...it’s important to understand that

data can decay at an extremely

high rate

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...paint a more detailed picture by layering in attributes

and intelligence to complete the profile

2. Customer Profiles

Once you have completed the identity with the core data on the customer that you’re engaging with, you can paint a more detailed picture by layering in attributes and intelligence to complete the customer profile and better understand what drives your travelers to make a purchase.

Demographic and lifestyle attributes such as marital status, gender, age, chil-dren, income, tech preferences, and home ownership help you understand their purchasing behaviors, while predictive intelligence like wealth indicators and segmentation clusters will tell you who that person is at a given moment in time. Combining all of the above will complete the customer profile.

Why is this valuable? For example, with Geocredit intelligence, you can lever-age a zip-4 modeled score that correlates to a consumer’s credit-worthiness score. This data can be used by a travel and tourism marketer to determine that a household with two children and an income of around $125K would have a higher propensity to travel to Disney World, whereas a young married couple with an income of $85K would be more likely to take a weekend trip to Las Vegas.

How to create customer profiles: A solution like Infutor’s ID Max provides a comprehensive identity and demographic profile of your consumers. After completion of the full identity, ID Max adds in key behavioral attributes, de-mographics, and segmentation clusters. This powerful profile drives mar-keting segmentation and enables you to deliver a personalized and relevant consumer experience and expand omnichannel touch points.

3. Segmentation Analysis and Custom Modeling

With a robust foundation of consumer data and attributes in place, your data science and analytics teams will have the fuel to develop quantitative models that predict future behaviors and purchases as well as produce groups of consumers or “clusters” who exhibit similar characteristics.

This analysis will give insights into the unique qualities that comprise your most profitable audience segments, ranging from digital preferences and demographic similarities all the way to geo-based segments that can give in-sights on consumers down to their individual neighborhoods.

How to drive custom models: If you don’t have an internal analytics and data science team, you can leverage outside sources to enable segmentation

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and custom modeling. Infutor’s Connex Interactive Profile tool enables mar-keters to effortlessly tap into the demographic, geographic and lifestyle pro-pensities of their top performing consumer segments to drive custom mod-eling and data analytics. For organizations with internal analytics and data science teams, Connex Cluster data is available for on-premise licensing. This enables your team to leverage the strength of the Connex Clusters to create highly customized analytics and models on-site, and on an ongoing basis.

4. Lookalike Targeting

You’ve leveraged your fractional data to identify your best customers and have found that they belong to the “On the Road to Retirement” cluster or maybe they’re “Mature Millennials.” The next step is to activate this data by finding and engaging more customers who look like them.

Prospects with demographics, lifestyles, or interests that are similar to your best-performing customers will likely have a higher propensity to travel to a specific destination or book a cruise. Using your data to identify and target these lookalike consumers will ensure that you’re focusing your acquisition efforts on those most likely to convert, maximizing your marketing ROI.

How to activate your data: Email. Social media. Direct mail. Digital. Programmatic. All of these channels and more can be leveraged to target exact lookalike consumers by utilizing a marketplace platform like Infutor’s Marketplaces, which enables marketers to reach their exact target prospects based on dozens of criteria, ensuring they maximize their spending. Identify consumers’ best, most current email addresses for deployment. Receive up to 10 email addresses per consumer to expand the reach to your top-per-forming segments across multiple social media and digital platforms. You can even upload audiences to your DSM or DSP for programmatic media placements to bolster your omnichannel marketing efforts.

Your key take-away:

Regardless of the type or amount of customer data that you have in your CRM, even fractional data can pave the path to omnichannel marketing suc-cess. By utilizing the available solutions, you can ensure that you’re taking any data that you have available to the next level and maximizing the value and your marketing ROI.

Learn more about consumer data from the Consumer Identity Management Experts

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