Demographic Data
Demographic Data Enhancement for Targeting and Modeling
Demographic data elements related to purchase behavior, interests, home property and other assets, financial condition (non-credit data) number in the thousands. You can append any of these to existing customer data for Analytic Model Development or to use for Prospect Targeting. Data Marketing Strategies can help determine which are the most relevant elements from multiple data sources using various tools and approaches. These tools include Look Alike Reports and Customer Predictive Analytics. Demographic data elements have proven to be very useful to brands and organizations in every business-to-consumer (B2C) industry.
Here is a summary of the primary element categories with examples of demographic data:
There are only a handful or reputable demographic data compilers in the U.S. including Acxiom and Experian. Because the best compilers use multiple data sources (up to 100), they provide the greatest level of accuracy and richness.
Data Marketing Strategies can help you determine which are the best elements and sources for you. Regardless of organization’s products and services or your specific analytics project there is an ideal set of data elements that meets your needs. In addition, we can obtain data licenses from one or more sources either in the form of a mailing list, the full U.S. Consumer Database or any point in between. Note that pricing, data quality and range of available data elements can vary widely between the various data sources.
There are hundreds of examples of demographic data. Data vendors package data elements into packages or bundles that contain basic or highly specific sets of data elements at attractive prices.
Here are some examples of demographic data bundles:
Core and Life Event Packages
- Basic Foundation Package – 16 data elements including:
- Income – Estimated Household
- Adult Age Ranges Present in Household
- Age of Input Individual
- Occupation of Input Individual
- Gender of Input Individual
- Education of Input Individual
- Children’s Age Ranges
- Presence of Children
- Business Owner
- Marital Status
- Working Woman
- Homeowner vs. Renter
- Length of Residence
- Mail Order Buyer
- Mail Order Donor
- Mail Order Responder
- Live Event Package
- New Parent
- Entering Adulthood
- Child Near High School Graduation
- Expectant Parent
- Recent Home Buyer
- Recent Mortgage Borrower
- College Graduate
- Intend to Purchase Vehicle
- Recent Divorce
- Newlywed
- New Mover
Topic or Industry Packages
Other packages focus on these topics or industries:
- Interest Package (139 demographic data elements)
- 100% Category Package (12 elements that all have 100% coverage)
- Vehicle Make/Model/Year Packages (various)
- Auto Industry Package (18 data elements)
- Retail Banking Package (23)
- Credit Card Package (54)
- Health Care Industry Package (23)
- Health Insurance Package (39)
- Life Insurance Package (34)
- Auto Insurance Package (31)
- Home Insurance Package (50)
- Investments Package (31)
- Media Package (31)
- Online Ad Targeting Package (14)
- Financial Behavior Package (6)
- Travel Category Package (12)
- Health Category Package (3)
- Buying Activity / RFM Package (261 data elements)
- Buying Activity Full Detail Package (508 elements)
- Consumer Packaged Goods Bundle
- Investments Bundle (48)
- Non Profit Bundle (97)
- Technology Bundle (44)
- Telecommunications (27)
- Travel & Entertainment (49)
- Foundation Plus Package (46)
Finally, there are also packages specifically designed for data analysis purposes (as opposed to marketing purposes) such as the “Data Analysis Package”. This package contains nearly 300 demographic data elements and is ideal for for creating analytics models.
Custom Bundles
Furthermore, it is possible to start with one of the bundles above and add additional elements. For example, you could start with a Basic Demographic bundles and add other key elements such as Net Worth and Personicx. Pricing for bundles is very always better than starting with a la carte demographic data elements. So even if you only need 4 or 5 elements in a bundle, it is often less expense to start with a bundle, then add whatever other data elements you need.
You may also wish to learn more about Segmentation Models and Pre-built Predictive Models.
Click here to learn more about demographic targeting in general.
Conclusion
In conclusion, there is an incredible amount demographic data available to enhance your customer data for marketing and modeling purposes. Knowing what is available and which data is best for your purpose will take some time to determine on your own. As a result, it is often difficult to know where to start. So rather than navigating the data marketplace on your own, consider working with a data expert to help guide you.