Market segmentation tools help create subsets of information based on a range of psychographic or behavioural criteria, such as demographics, common interests, lifestyle choices and purchasing habits, to help businesses optimise audience targeting.
A(i)LIVE uses behavioural and survey data from Dynata, the world's largest first-party data and insights platform, and technology from Powr of You, a consumer intelligence tool.
It augments the segmentation process using machine learning (ML) and artificial intelligence (AI) to continually process live data.
"Our partnership with Dynata has helped inspire this new approach and capability. I am excited and confident that this will become a key tool for the dynamic and ever-changing times we are living in".
"Such a drastic shift in consumer behaviour and attitudes serves as a stark reminder that change is constant, and decisions based on static, in-the-moment segmentations are increasingly unwise. Segmentation data needs to evolve at the pace of consumers," continued Jackson.
A(i)LIVE captures what people are seeing, feeling, thinking and doing. It looks at underlying motives and connects these to fast changing consumer behaviour and attitudes. This lets brands accurately pinpoint, prioritise and target their most valuable customers, as their values shift, and behaviours change.
This new approach breaks down the constraints of traditional, one-dimensional segmentations, utilising a three-stage approach.
Firstly, it observes real-life behaviours within a category, using social data, natural language analysis and self-ethnography. It connects attitudinal, behavioural and customer data using advanced analytical clustering and distancing techniques, creating richer segment profiles.
Then, it uses ML and AI algorithms to continually re-profile, re-shape, and re-size the segments.
Finally, A(i)LIVE brings refreshable segments to life in fresh and vivid ways that help clients continually inform and inspire their organisations.
"This is an extension of our connected data strategy, where we look to connect our own proprietary fully-permissioned first-party data set with second- and third-party sources to create a complete picture of a market or consumer segment, helping organisations better understand and engage with their most important audiences."
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