In the last decade, the ability for marketers to learn about their customers’ behaviours and mindset has increased manifold. And yet, despite the insights industry booming, with brands creating in-house teams and the rise of data insight agencies, many marketers still feel that there is a disconnect between insight and action.
The novelty of insight itself has worn off. It is no longer enough for brands to turn to data-led media agencies to uncover insight about your customer – you want that insight to translate into strategy. But even in April 2020, only 3% of marketers believe they are exceptionally effective in turning data and intelligence into marketing action, and 72% state that it takes them too long to act on insights (source: CMO Council).
At Fifty, insight is the basis of everything we do. It is the start, not the end point, of our relationship with clients, and how our clients then foster a relationship with their customers.
Everything begins with our Fifty platform, which ingests billions of data points, creating audience insights based on cookieless, contextual and first-party data. The result is dynamic segmentations and visualisations that begin to tell the story of your audience – but that is just the start.
Many companies organise their customers into segments based on a variety of things such as demographics, attitudinal surveys and behaviours. But how to translate this understanding of an audience into real world business actions? It can still be overwhelming to decide – which audiences should we prioritise? Which platforms? At what time? And brands then reach out to multiple agencies to deploy different parts of their strategy. It’s a siloed, old-school approach to insight.
Instead, what we decided to do at Fifty is to create an ad-technology stack that could deliver not only insight, but execute that insight into media strategies across a range of mediums including web, social, mobile, audio and Connected TV. We have created a bespoke data product that is precise and can target your most engaged customers’ precisely where they are. And we have built a live catalogue of a catalogue of consumer groups from across the globe, who are dynamically segmented based on shared passions, beliefs and purchasing inclinations – which you can then target immediately.
Insight remains as important as it ever was. It is absolutely essential to understand your audience. But without the ability to deploy that understanding and turn it into effective media strategies, insight is little more than some interesting factoids for your next dinner party.
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To understand how Fifty's audience insights can power effective media strategies, book a platform demo today.
