Beat Google and Facebook at their Game With Better Insights

One of the biggest challenges publishers and media companies face today is showing the value of their reading and viewing audiences. Establishing their unique value is how publishers validate their cost per impressions (CPM) and sponsorships.

Even though Google and Facebook control much of the audience delivery available to advertisers, the publishers best positioned for success first establish a relevant and strategic fit and story around the audiences they have available. But they can’t build that audience story if they don’t have insights on the people who make up those audiences. A recent eMarketer survey revealed that the top challenge for marketers is the need for better insights and reporting deliverables for data sources and analytics.

I was struck earlier this November while attending AdMonsters Publisher’s Forum in Austin, Texas, that publishers are still not using consumer insights as much as they should. Consumer insights that offer a holistic snapshot of their readers not only helps guide content and programs for publications but also provide a tremendous value proposition for advertisers. Publishers that successfully demonstrate their owned audience are well positioned to grow their sales and customer relationships.

IT’S ABOUT THE CUSTOMER

Imagine presenting to a prospective advertiser deeper insights about your audience and their audience that strengthens your value position as a media partner and validates their investment. Advertisers want more customers, so it’s important that their partners are aligned to deliver the essential targeting that drives results and revenue growth.

But publishers often say that it’s difficult (if not impossible) to show distinct value in their owned and operated audience. “We have lots of readers around many different types of content. However, advertisers know they can get audiences through programmatic channels. How do I as a publisher best showcase my audiences as essential?”

That’s where deep consumer insights play a significant role. For example, let’s look at a key audience of interest to bank and financial services companies: people shopping for a home mortgage. Resonate’s consumer insights reveal key attributes about people in the market for a home mortgage like what’s driving their selection consideration when they plan to obtain a mortgage, how best to reach them based on their media consumption and how best to connect with them through content and ad messaging.

TURNING WISDOM INTO ACTION

With the Resonate Platform, publishers have access to a vast array of attributes and insights around their consumer segments, including their values, motivations, purchase behaviors, media consumption and much more. Those insights guide content, targeting, messaging and advertising to specific audiences. Most importantly, publishers can show advertisers how many of those customers they reach and how best to connect with them.

Publishers that use Resonate see several results, including an almost 100% increase in the quality of insights they achieve through the platform. Publishers have also seen upwards of 50% savings in third-party data and nearly 30% in new business and upsells.

You should see our insights in action. Reach out today to get a demo for your publication and advertisers.

A New Way to Capture 24M Million Investment Firm Switchers in 2019

Turbulent markets, global political shifts, the growth of robo-investing and rising customer expectations have brought a new level of customer churn to wealth management marketers. Resonate’s most updated insights reveal that 24 million U.S. adults are actively considering switching investment firms in the next 12 months.

It’s vital that marketers for investment firms know how many of their own customers and their competitors’ customers plan to make a move and what they’re looking for in their next investment firm. Resonate’s deep consumer insights also reveal:

  • Which firms are at the greatest risk of losing customers
  • Top selection criteria for people looking to switch
  • Consumers’ views about the market and alternative investments
  • How to steal your competitors’ customers and retain your own

Which Firms Are at Greatest Risk for Losing Customers?

Most investment firms face a retention problem, including some of the biggest brands. Consumers who plan to switch investment firms have accounts with the following firms:

 

What Do People Want from their Investment Firm?

When it comes to their relationship with their financial advisor, most switchers want great customer service and objective advisors who understand their risk tolerance. But the top selection driver is that switchers want the ability to trade on margins. Firms using Resonate can dig deeper to understand the specific factors most important to their own switchers and segment their competitors’ switchers by brand to tailor messages accordingly.

 

How Do Consumers Feel About the Market?

Most switchers are on the fence about whether a stock market drop or financial crisis is imminent, but most switchers have a more optimistic view of the future. Marketers should connect with switchers using sunnier messages vs. an approach that speaks to investor fears.

 

 

How Do Consumers Feel About Robo-Investing and Cryptocurrency?

Cryptocurrency investing won’t appeal to most switchers, but robo-investing will. Resonate helps you isolate and target the smaller group considering cryptocurrency in their portfolio, while also creating a robo-investing segment for research, segmentation, activation and measurement.

 

 

Where Can I Find Consumers Looking to Switch?

Insights on their media consumption also shape your strategy for reaching these consumers, from the top TV shows they’re watching to their top social media networks.

 

 

Resonate also has actionable insights on individual investment firms and the who, what, when, where and why of their switchers.

The challenge for wealth management marketers is turning massive amounts of data into insights that allow them to decide on the right strategy for reducing churn. With person-centric insights, marketers can take action to reduce churn in one, easy-to-use platform that’s updated nightly. So, while you can’t just ask, you can find out and act before you lose customers.

Want to see Resonate’s consumer insights in action? We’d be happy to show you more in a demo.

 

The Real Truth About Energy Drinkers

Who do you picture when you think about someone who consumes energy drinks? Stressed-out college students? Gamers who want to stay up all night? It’s neither one.

Resonate’s insights on the 28.4 million people who drank at least one energy drink in the last month paint a picture of a young to middle-aged dad, who likely has some kids under age 5. (Young kids are so adorably exhausting, aren’t they?)

As marketers, we often fall into misconceptions about our target audiences. We could be working with outdated, inaccurate personas. Or we could have just plain ol’ bad data. That’s why it’s vital for today’s marketers to have insights that are updated daily and paint a complete picture of consumers beyond flat demographics.

By digging into the Resonate Platform even further, we’re able to answer the question of why they reach for that can of liquid energy. We found that among the top reasons, besides energy, were these drinks taste good, it makes them feel good and it’s a special treat in their day. But can’t they satisfy those needs with other beverages? That’s why we need to answer the other why’s of their energy drink consumption.

We get at the deeper picture by looking at the personal values that guide their daily decisions, which then guides how you as marketers connect with these consumers. Energy drinkers are mostly guided by having the opportunity to show their abilities and to be admired for what they do. So as the marketer trying to connect with this audience, you should consider using themes of being admired, appreciated, successful and acknowledged in your creative and messaging.

The second personal value tied to energy drinkers is that they want the freedom to think up new ideas, they want to be creative and they want to develop new skills. So your creative and messaging should focus on themes of innovation, originality and cleverness.

Their third most important personal value is equality. These consumers want every person in the world treated equally. To them, life is about social justice. So your messaging and creative should align with themes of equality, fairness and tolerance. You could also highlight philanthropy and social activism.

The Resonate Platform continues to paint the picture of the energy consumer when we look at their psychological drivers, hobbies and routines. Energy drinkers are heavily driven by having social and professional status, getting recognition from their peers and the need for an exciting life. Their free time is spent playing fantasy sports, participating in outdoor activities, playing team sports and at the gym.

While the hobbies and routines of energy drink consumers might not be terribly surprising, what we also discovered was the high prevalence of parenthood and the high valuation of reliability and trustworthiness among this group. We can even tell you how they’re consuming energy drinks. Most people drink them alone. So your creative may feature a single person enjoying their drink rather than a group of people.

Energy drink consumers are a perfect target audience for any brand that wants to connect with young, active parents. However, you might not want to rely on traditional advertising channels to reach these folks. Although age-based offline buys might seem like a good idea at a high level, you would have to buy a lot of spots in a lot of different places to reach this audience at scale. Instead, online buys make more sense for reaching this group with relevancy and frequency. But it wouldn’t hurt to sprinkle in some TV on the four major networks (ABC, NBC, CBS and Fox), along with coverage during NFL football games.

Ready to start connecting with energy drink consumers? Reach out for a demo to learn more about this audience or any other consumer segment.

[Infographic] Get to Know 28.4M Energy Drinkers

Did you know that 28.4 million people reached for energy drinks in the last month alone? They’re not all teens and gamers as you would imagine.

View the infographic below for details about who energy drinkers are and what makes them tick. Want to see more of Resonate’s insights on today’s consumers? Let us give you a quick demo.

 

[Infographic] Get To Know 40M People Switching Wireless Providers

Did you know that 39.6 million people are planning to switch wireless providers within the next year? Most of them are yearning for faster network speeds and unlimited data. So what else do we know about wireless switchers?

View the infographic below for details about these consumers. Want to see more of Resonate’s insights on today’s consumers? Let us give you a quick demo.

 

Get to Know the 40M People Switching Wireless Providers

“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.”

This Steve Jobs quote points to a problem wireless providers face monthly—customer churn. Within the next 2-12 months, 39.6 million wireless subscribers will change providers. What’s shocking is that the churn rates of wireless providers are at historic lows.

Wireless companies can ask their customers what they want, but they also need to understand what makes their customers, as well as their competitors’ customers, tick. Not only is it vital to understand what is making them switch wireless providers and what they’re looking for in their next wireless provider, but also what guides their daily purchasing decisions—the “why” that drives the “what.”

This actionable insight guides a range of strategies for marketing, research and loyalty teams within wireless providers, from how to communicate with wireless switchers to the most effective channels to reach them.

GET DEEP WITH THE SWITCHERS

There are multiple ways of understanding the “why” behind the daily decisions of wireless consumers, including why they’re switching providers. At Resonate, we look at the Human Element, which is a holistic understanding of a person that starts with what makes us the most human—our values and motivations.

The top personal values that guide the daily purchasing decisions of people switching wireless providers is an essential guide for understanding these consumers. For example, the top personal value of wireless switchers is “being in charge and directing people.” So marketers should consider using themes of being assertive, commanding and confident. Switchers also value having the “opportunity to show one’s abilities and to be admired for what one does.” Marketing messages should focus on themes of being admired, appreciated, successful and acknowledged. Another top personal value is “acquiring wealth and influence.” Marketers should consider using themes of prestige, importance, prosperity and power in their creative and messaging.

Their top psychological drivers also help paint a complete picture. For people switching providers, their top drivers are expressing individuality, romantic love and living an exciting life. Another interesting insight is their daily routine. Wireless switchers are regular coffee drinkers, they prefer making their own meals and they value work beyond income.

UNDERSTAND WHY THEY’RE SWITCHING

 Now that we have a human snapshot of people switching wireless providers, we can dig into why they’re switching and what they’re looking for in their next provider.

Insights within Resonate’s consumer intelligence platform show that the top features that drive a subscriber to switch include:

  • Network speed
  • Unlimited data
  • The need for a family plan
  • International plans

We still want to drill deeper into these switchers and learn about their media consumption.

Wireless Media Consumption

This snapshot shows:

  • The TV shows they watch the most and on what devices
  • The newspapers and magazines they read
  • Social sites they frequent
  • What types of apps they value

Resonate also has valuable insights on each wireless provider and the who, what, when, where and why of all of their switchers.

The challenge for wireless marketers is turning massive amounts of data into insights that allow them to decide on the right strategy for reducing churn. With person-centric insights, marketers can see the actions needed to reduce churn in one, easy-to-use platform that’s updated nightly. So, while you can’t just ask, you can find out and act before they want something new.

Ready to get started? We’d be happy to show you more.

Learn more about Resonate’s deep consumer insights in the State of the Consumer Report Q4 2018.

21M People Are Mattress Shopping. Want To Connect With Them?

The way people shop is changing and nowhere is it more evident than in the mattress business. Mattress Firm recently declared bankruptcy to get out of leases that were no longer tenable and will close as many as 700 stores before year-end. At the same time, Casper, a direct-to-consumer mattress company founded in 2014, posted over $300 million in revenue in 2017 and has plans to open hundreds of brick and mortar stores.

Over 100 mattress startups have launched and grown quickly in the past several years, replicating first movers like Tuft & Needle and Casper’s bed-in-a-box concept. They understood something was broken in the mattress business and were able to solve several customer pain points. But the industry has become incredibly crowded, and it’s time for mattress brands and retailers to figure out the next wave of mattress buying and product innovation. Nearly 21 million people plan to buy a mattress in the next six months, so the market opportunity is gigantic.

THE DISRUPTORS

Upstarts like Casper, Leesa and Purple entered a market where consumers were tired of the mattress-buying process. Advertised sale prices are often a lure to get a shopper in the store and then they face a hard sell by salespeople incentivized to unload the most expensive products. Deliveries are slow and costly and return policies are rigid or non-existent. Some consumers were stuck for 8-10 years with a mattress they don’t love.

The upstarts introduced a bed-in-a-box business model in the last five years where they developed their own mattresses and pillows. Purchases are made online, shoppers rely on genuine customer reviews, pricing is transparent and lower, shipping is free and returns are hassle-free.
Consumers were thrilled as the headaches of buying a mattress were erased. It showed in the financials as well. Many of these new players are posting tremendous growth numbers, and traditional players like Mattress Firm are scrambling. These bed-in-a-box retailers understand a fundamental need of consumers and have been quick to capitalize on that need.

Given the low barriers to entry, many new players have entered the market. Just a few years ago, there were only a handful of bed-in-a-box companies. Today that number is over 100. Each new bed-in-a-box option seems to come equipped with thousands of five-star reviews, free shipping, the best foam and a free trial. Behind the scenes, all these operations come fully equipped with an easy-to-use website and accounts for Facebook Business and Google Ads.

Unfortunately, launching your site and paying bloggers affiliate fees isn’t enough anymore. The industry has become crowded, and the large number of entrants are bidding the relevant search terms higher and higher. The initial customer pain points have been solved and are no longer differentiators. Even Mattress Firm has adopted some of the tactics of the newer players.

Casper is now branching out from its ecommerce roots by opening 200 stores to reach the 86% of consumers who aren’t comfortable buying a mattress online.

NEXT STEPS

So what should traditional retailers and bed-in-a-box brands rely on to engage and convert 21 million people who are being hit from every angle?

The key to winning customers in this type of business , where purchases are made as seldom as once a decade is having a fundamental understanding of who these consumers are, what they want, when they want it and WHY. What types of insights drive engagement? There are many questions to answer:

1. Why are they buying a mattress?

  • Discomfort sleeping?
  • Are they moving?
  • Buying a house/condo?

2. What’s their plan?

  • Where and when did they buy their last mattress?
  • Where do they plan to purchase their next mattress?
  • What influences their decisions?

3. How should you engage with them?

  • Do they care that you’re environmentally friendly or that your products are priced fairly?
  • Is it more important that your mattress is innovative or durable?
  • How can you create an emotional connection with your brand?

Combining these insights will create a holistic view of your customers and prospects and lead to a better understanding of the best strategy, messaging, creative and channels to engage and convert more of these customers than your competitors.

The final piece of the puzzle is making sure all the information is fresh. There is nothing worse than wasting money trying to engage someone who already purchased their mattress and has no intention of returning it. Mattress shoppers are in market for a short period of time, and their preferences change often. Marketers need to understand these dynamics and be able to monitor changes quickly, so a strategy can be optimized as consumers change their preferences.

If you’re an online or brick and mortar mattress or furniture retailer, the only way to keep your brand from losing to the newest disruptor is by having a deep consumer understanding of who is in market, why they’re in market, where they shop, why they shop there and how you should engage with them. This deep consumer understanding also helps establish a long-term emotional bond for customer retention and loyalty.

Want to see Resonate’s consumer insights in action? We’d be happy to show you more.

Learn more about creating loyalty in Resonate’s Marketers’ Guide: How Deep Consumer Insights Improve Loyalty Program Performance.

[Infographic] The Who, What, Where and Why of Amazon Apparel Shoppers

Did you know that 20.5 million people are buying apparel from Amazon’s  Essentials, the online giant’s clothing brand. It’s not surprising given that 44% of them say they choose where to shop  based on convenience. So what else do we know about Amazon’s apparel shoppers?

View the infographic below to learn more about these consumers. Want to learn more about Resonate’s insights on today’s consumers? Let us give you a quick demo.

Apparel Infographic

Is It Time to Say “Good-bye” to the Soccer Mom?

How many times have you cringed at a marketing or ad proposal that targets “moms who want to delight their children”? Or can there possibly be one more article on how to market to “today’s millennial”?

In marketing and advertising, personas help us define who we’re selling to and in turn, guide us in creating the right kind of messaging to reach our target audiences. But many personas are based on a handful of vague attributes like age and marital status. “Soccer mom” emerged during the 1996 presidential election when Bill Clinton was accused by his opponent, Bob Dole, of targeting busy moms who cart their children to their sports activities. But personas like this don’t really help us understand and connect with consumers on a deeper level.

It’s time to throw out personas we’ve been using for the last 20 years that are simply based on vague demographics like gender and number of children, and start fresh with personas that are more detailed, accurate and paint a more complete picture of the consumer.

OUT WITH THE OLD PERSONA

Soccer-Mom-Blog-mini-InfographicWe’ve all been guilty of using generational personas. The whole idea that people born within a certain date range could have all of the same traits is a fairly new thing, perpetrated by advertising, marketing and media.

We often think of millennials as being uber tech savvy and loyal sharing economy consumers. We label baby boomers as being leery of online shopping and loyal consumers of traditional media. We think of Generation X, once referred to as “slackers,” as being heavily focused on finances as they juggle children headed to college and aging parents. And finally, there’s generation z, who has completely grown up with technology and is heavily guided by online influencers.

The danger in creating messages geared to a whole generation is that you ignore people in this same age bracket who don’t have the same traits. For example, the common misperception about millennials is that they’re all single, young, unmarried and only rent apartments. But this misses a whole segment of people who fit in this same generation but are actually married with children and own a home.

A consumer insights platform can serve as an important tool for agencies in developing a deeper understanding of their client’s customers. Resonate distills what we call the Human Element. This is a holistic understanding of a person that starts with what makes us the most human—our values and motivations.

Personas are brought to life with the Resonate Human Element. It helps agencies provide dimension to their personas and ensure engagement that delivers performance for clients. For example, let’s look at the person who buys North Face products, which are geared to “athletes and the modern-day explorer,” according to the company’s website. We can assume that the North Face consumer’s top hobbies are hiking, camping and other outdoorsy activity. But Resonate’s dynamic insights paint a different picture. This segment actually spends their free time trading stocks, visiting spas and resorts and going to the movies. And they’re only 12% more likely than the overall U.S. population to spend their time hiking and camping. So when you’re developing messaging for a brand that sells outdoor active gear, think twice about turning to the traditional “hiker” persona—these folks are more indoorsy than outdoorsy.

Now let’s look at the working mom. You might assume her personal decisions, including working outside of the home, are driven by a desire to prove her competence and skills and getting recognition from peers. But Resonate’s consumer insights show working moms care even less about those attributes than the average U.S. consumer. Their everyday decisions are actually driven by living an exciting life and creativity.

BETTER PERSONAS LEAD TO BETTER RESULTS

Soccer-Mom-Blog-mini-Infographic

Modern personas are about connecting with consumers in more meaningful ways. Connecting with people starts with understanding them at a personal level. Creating more accurate personas based on these actual person-level insights brings tremendous value to agencies in a number of ways:

  • RELEVANT OUTREACH: With more detailed and accurate personas, you can develop more targeted messaging that resonates with your client’s target audiences. Agencies using the Resonate Platform have already seen significant reduction in CPA costs.
  • STRONG CLIENT PITCHES: Imagine pitching your client with a completely new take on their personas. Show them that their existing personas can be enriched and expanded based on continuously updated and more accurate insights. Plus, the time spent doing research for client pitches drops from weeks to hours using the Resonate Platform.
  • BETTER OUTCOMES: Taking a more personalized approach to target audiences rather than a broad brush based only on a few attributes will help you create unbreakable relationships between your clients and their customers. Agencies are seeing a 32% increase in return on advertising spend (ROAS) compared to alternative data sources.
  • EXPANDED STRATEGY AND BRANDING: When you know your client and what makes their customers tick, you can give better advice about everything from media strategy and creative to product packaging and its charitable mission.

Agencies are competing against more players like consulting firms and smaller, more nimble shops and dealing with major industry shifts like new pay structures and more privacy regulations. Being able to offer clients a new view of personas can be the key differentiator.

THE WAY TO ACHIEVE MORE ACCURATE PERSONAS

Resonate’s easy-to-use SaaS platform provides a unified view of the consumer. It’s continuously updated, so personas evolve to adapt to peoples’ dynamic lives.

With this level of accuracy and timeliness, agencies can build personas that consist of real-time attributes, rather than static demographics. The Resonate Platform also helps provide insights into the several layers that make up a human, from the top actions they take every day to their psychological drivers.

So yes, it’s not surprising that a working mom buys most of her groceries online to save time and prefers retailers with loyalty programs. But there’s a lot more to her shopping behaviors. For example, they’re also 32% more likely than the average consumer to shop online and then pick up in store. And they’re big Black Friday shoppers but stay away from Cyber Monday and Amazon’s Prime Day.

There are several layers to humans, making it vital to tap into the Human Element to help frame more relevant personas. So can we once and for all stop with the “soccer mom”? She’s moved on and we should too.

Hear more on relevant and fresh personas in my recent webinar with AdWeek: “Uncover the Human Element of Data Targeting: Go Beyond Cardboard Personas.”

Want to wow your clients at the next pitch meeting with a better understanding of their actual personas? Let us show you how.

Your Plan for Conquesting Amazon’s 166M Customers

Merriam-Webster defines a “frenemy” as “one who pretends to be a friend but is actually an enemy.”  It may sound like something out of the movie, “Mean Girls,” but really it emerged in the 1950s to describe the complicated U.S.-Russia relationship.

Many retailers and apparel brands describe their relationship with Amazon on frenemy terms. For any B2C company, the adversarial relationship with Amazon is understandable—the online giant has been disrupting the retail industry for the last two decades. But to be fair, Amazon has also allowed brands to use them as another sales channel by creating branded stores within their ecosystem. Brands are stuck between loving the revenue that comes from selling through Amazon’s platform and hating the fact that Amazon is contributing to a reduction of foot traffic in their brick and mortar locations, as well as shrinking revenue per square foot.

The question then becomes: How do I conquest Amazon’s customers without cannibalizing the people who are buying my products on Amazon? The answer: Understand Amazon’s customers as well as they do.

Apparel Infographic

Snapshot of 20.5 million Amazon Essentials apparel customers.

Amazon sits on a treasure trove of consumer data that helps them retain customers by staying relevant. Nearly 166 million people have shopped on Amazon within the last six months, and 105.4 million of them are Prime members. Nearly 10 million people are Subscribe and Save users (2.5 million of which don’t have Prime); 9 million are Amazon Pantry users (2.3 million of which don’t have Prime); and there are 2.3 million Amazon Fresh users (900k of which don’t have Prime).

Amazon knows what products and brands people are buying on the site. Any brand that plans to go after Amazon’s customers without stealing customers from their own Amazon store should also know what products and brands people are buying from Amazon.

For example, let’s look at people who buy Amazon Essentials apparel—Amazon’s clothing brand. If you knew who was buying Amazon Essentials apparel and understood why they chose to buy this brand, you could create a strategy for how to conquest these consumers. By conquesting the people buying this apparel and not the people buying your brand’s products, you can ensure that you’re acquiring new customers and people already buying your products. With the right information, you can determine how to connect with these consumers on an emotional level and give them the offer that’s most likely to get them to engage and convert.

In looking more closely at people buying Amazon Essentials apparel, you’d expect bargain-basement shoppers who buy solely based on price. The data paints a different picture: They’re busy professionals who value convenience and saving time and enjoy wearing luxury apparel. These shoppers are predominantly women with children and 29% of them have an annual income above $100k. Unsurprisingly these professionals like directing people, being in charge and maintaining a good public image. They also want to be seen as an individual. If you’re looking to find them in the morning, they’re reading the New York Times. In the evenings, they’re watching The Late Show with Stephen Colbert and spending the rest of their free time on Instagram.

Want to learn more about Amazon’s customers? Or is there another competitor whose customers you’d like to conquest? Reach out for a demo of how our insights can help.

Learn how you can woo customers from Amazon and other retailers this holiday season. Check out our new Holiday Guide: 3 Trends Marketers Need to Know This Season.