Early in 2016, we wrote an article about everything dealers were missing by only relying on demographic data. Here's a perfect example of that fact: what percentage of skin and body care influencers over a six-month period would you think were men?* If you guessed anything less than 68%, you'd be wrong (and we're guessing most of guessed less than that). This statistic—gathered from the Mobile Purchasers & Influencers Report by Google and Ipsos MediaCT and found in “Why Consumer Intent Is More Powerful Than Demographics”— is just one example of the gaps between demographics and consumer intent, something 3 Birds has been squawking about for years.
This Should Be a Wake-Up Call
Demographic data has been the bread-and-butter of automotive marketing for years: income level, children, education, and more. Don’t get us wrong—all of this data still has a role in your marketing, and it’s why we partner with a number of authoritative third-party data providers. But if you’re relying too heavily on demographic data as the basis for your marketing and advertising activities, you may be missing out on the opportunity to connect with customers during their exact moment of need—what Google calls “micro-moments.”
During these moments, consumers are looking to make a decision, whether it’s where to go for an oil change or where to purchase their next new vehicle. And by understanding consumer intent, you can increase the likelihood of your dealership meeting those customer’s needs when it matters most.
3rd-Party Data vs Data You Own
We know that the kind of interest and intent data that Facebook and Google have and have made available through their paid advertising platforms is incredibly powerful. (After all, that data is what enables us to target specific groups with highly relevant, tailored messages.) The problem is that you don’t own this data, you’re just “renting” it. As long as you’re just “renting” data and running a strategy that rests, even partially, on a platform over which you ultimately have no control, you will always be vulnerable to changes like the ones that Facebook sprung on all of us earlier this year, when it announced a major shift in the customer data that ads would be able to draw on.
Ahead of the Curve
For years, 3 Birds has questioned the wisdom of a strategy focused exclusively or largely on 3rd-party data, and we're proud to say that we offer a solution for dealers frustrated at being unable to access their own data as easily as they should be able to. At 3 Birds, we know that leveraging and investing in enhancing your own first-party data has never been more important. Nor have we been the only ones to see this.
The early adopter dealerships that have been working with us for years have benefitted greatly from our forethought because, by working with us, we’ve added tens of thousands (if not more) of data points, including that valuable interest and intent data, to enrich their prospect and customer data. Even better, by working with 3 Birds, they've not only enriched their databases, but all of that data belongs to them.
The Final Takeaway
Demographic data can play a role in your marketing strategy, but if you aren't considering consumer intent data, you could be missing a huge pocket of opportunity. 3rd-party data has its advantages, but if you rely on it too much, a change in the market can pull the rug out from under you. The fully managed 3 Birds marketing and analytics platform not only helps you keep better control of your own data, it also helps you understand and predict intent so you can deliver an optimized message to each customer every time.
We use quality content, relevant communications, data mining, and predictive modeling to add thousands of new data points to our clients’ customer data. Taking this data, we can develop predictive models and create targeted follow-up plans to win over customers that demographic data alone would miss. Contact us to schedule a strategy session.
* Mobile Purchasers & Influencers Report. Google / Ipsos MediaCT, Ipsos Online Omnibus, August 2015, N=5025 Online smartphone users 18+, skin & body care influencers in past 6 months