Technology is in a constant state of flux and consumer markets are being redefined, so too our approach to marketing needs redefinition.
Most advertising campaigns start with an insight and the ever-elusive “single minded message”. This insight is often the observation of an astute marketer or drawn from research. It is then reframed and made beautiful in large-scale productions with the intention of leveraging off the insight for bottom line growth. But the question needs to be raised: how accurate are these insights? It’s all well and good spending part of the marketing budget on research, but is it implemented in a way that is systematic and responsive? Or is it carried out in haphazard bursts and with ridiculously small sample sizes? Marketers and advertisers invariably begin to rely on the law of averages to guide their decision making when, in fact, need states and psychographics vary considerably across the population.
The golden key is to develop access to insights that are accurate and localized, in perfect sync with the target audience, which invariably varies. When the subject of consumer data is raised, however, so too are eyebrows - the initial cost of that type of localised insight seems exorbitant. The truth, however, need not be that way: when the cost is amortised over the number of outlets, it starts to look more feasible. More importantly, with such an investment made, the benefits will begin to reflect in the bottom line.
Hyper-localised data and audience insights let brands explore the different demographics of a target audience and understand the subtle nuances between them, allowing the opportunity for better messaging and a decrease in wastage. The result is an increase in upper-hand knowledge of the targeted consumer, the ability to create meaningful campaigns and an increase in relevancy. Data empowers marketers with the ability enter the ‘local-area arena’ properly.
Often localisations (I don’t mean putting a Seffrican sounding voiceover on your clearly American advert) is also viewed as cumbersome and expensive because of the sheer scale of work required to achieve communications that morphs with changes in demographics. Having individual adverts that speak to a vast array of segments is often viewed as either extreme overkill or simply not-feasible. However, if one ponders this a little deeper, an array of extremely feasible solutions –such as advertising in community papers and through digital – are often cost-effective and targeted, and thus deliver high returns.
It is important to constantly reassess a brand’s view of the targeted consumer as it is always changing. It is also, more often than not, clouded by a myopic view or a so-called “corporate truth” based on the observations of the few in few places.
To keep marketing fingers firmly on the pulse, data acquisition and analysis needs to be approached strategically and consistently. Data that is localised to suburb and street level will allow for marketing campaigns and sales strategies that are relevant and easily assimilated by consumers in that specific area. The insights that can be generated from street-level data (on scale) helps ensure that brands know where to invest, literally. As technology augments and consumer demographics adjust with the changing times, it is crucial that brands sit up, take note and hyper-localise their data. In the long run, it will prove extremely beneficial.
