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Future of Retail — Customer Engagement


issue 05


Factual life event data is far more powerful than inferred data.


Marketers instinctively know that acting on


consumer insight is essential, with many rightly obsessed with finding patterns of consumer behaviour to help inform and implement personalised marketing campaigns. This kind of analysis puts customers and prospects into specific segments so they can then receive communications that are collectively fairly relevant to that group of customers. It is highly logical to identify a customer whose spend has dropped and then put them into a lapse programme, but not if you knew why they had changed behaviour. It lacks one essential element – context.


One of the best ways he/she can add


context to their customer knowledge is to use life event data. Whether it is moving home, having a baby, going to university or retiring, these are an opportunity for the consumer to reassess products and choices. A new baby can mean new holiday types, new furniture, a different car or even moving to a bigger house near a better school for the years to follow. And that home move can trigger a change in supermarket, utility company, restaurants and train service, not to mention a fortune spent on home improvements. Factual life event data is far more powerful


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