10 Ways to Enrich Customer Data to Maximize Your Marketing Efforts

With consumers shopping online and in-store, brands have a more robust customer data set to dig into to understand behavior across channels.

When we combine the various data points to enrich customer data—using traditional demographics like age and income along with psychographics like lifestyle and beliefs—you can create more targeted and effective marketing campaigns.

In this article, you’ll learn to identify high-value customers, pinpoint retail locations, how to calculate TAM, and track when your top customers are shopping with competitors.

10 Ways to Enrich Customer Data

On the Conversion Tracking Podcast, Brad Redding (Founder of Elevar) and Phillip Crow (SVP of Product Strategy, Buxton) discuss ten powerful ways to enrich customer data.

Listen to Episode 99 of the Conversion Tracking Playbook podcast here, or keep reading for a summary.

1. Finding Hidden Gems

Customer scoring helps you identify individuals on your customer list who haven’t converted yet but match the profile of your best customers. By targeting these hidden gems, you can optimize your marketing efforts and increase conversions.

2. Stranger Score

Similar to the first use case, you can score your customer data to identify who among them are strangers to your business and haven’t converted yet. You can use that data to save on costs by not spending marketing budget to reach people on your customer data who don’t match your best customers.

3. Offer Match

By enriching and scoring your customer data, you can identify offers and promotions you have previously run to see which offers resonated with different types of customers on your data. This allows you to optimize your offers so that you’re not giving away margin where you shouldn’t be. Plus, this can shorten the amount of time it takes for your ideal customers to decide to convert.

4. Search Spend

Use information about who your best customers are to optimize your paid search and media purchases by knowing which zip codes to focus on. Look at households who are living and working in a geographic area and compare them to your best customers. You can then rank zip codes according to potential so you can optimize your paid search and media purchases.

5. Brand Match

Customer scoring can help brands who are looking to understand where to distribute their product in brick-and-mortar locations. By scoring your customers, you can pinpoint which retail locations have the highest density of customers that look like your best customers. You can strategize with other brands to know where to put your stores or your products.

6. Calculate Your Total Accessible Market (TAM)

Customer scoring can unlock insights about your current market penetration and find your customer potential. By measuring customer potential by unit of geography, you can better understand how much greenspace in your market hasn’t been captured by your competitors.

7. Know When Customers Are Competitor Shopping

Customer scoring can tell you when individuals on your customer data who have been visiting your website within the past 90 days are visiting your competitors. This gives you a measuring stick to understand the types of customers that are being impacted by the competition and the impact of your marketing efforts and your competitor’s efforts on your best customers.

8. Understand Customer Evolution

You’re taking marketing actions to align with your business’s strategies. But how are customers reacting to your marketing strategies? Enriching and scoring your customer data can help you see the incremental impact your marketing efforts are having on your customers and how their behavior changes over time.

9. Best Channels to Reach Your Customers

Certain types of customers respond better to certain channels. Customer scoring helps you find the optimal channel preferences for a given audience and identify their preferred cadence for receiving communications. This helps you plan marketing campaigns that reach your customers when and how they prefer to be reached.

10. Product Match

As a brand, you have a set of products that you offer. Which products should you focus on putting in front of your customers next? What are they more likely to purchase next? Customer scoring can tell you how likely it will be for any one of your customers to purchase each of your products.

Questions about Customer Data Enrichment?

Enriching and scoring your customer data unlocks valuable insights that go beyond basic demographics, enabling you to personalize your marketing strategies and target the right customers at the right time.

These 10 use cases, from identifying hidden high-value customers to optimizing channels and locations for maximum conversions, highlight the impact of using data effectively.

Want to learn how Elevar can power your marketing with data-driven insights? Book a call with Sales.