Now more than ever, marketers are trying to identify and reach profitable and discrete market segments that were previously overlooked in an effort to keep growing in difficult economic conditions. Predictive analytics is one way to do that: it marries a range of consumer, transaction and media information and reveals the "who" and "how" of an effective go-to-market strategy.
Predictive analytics can help marketers in several ways: It can provide a deeper understanding of customers to guide the marketing spend; it offers guidance on selecting messages and vehicles for communicating with them, and; it provides key metrics for measuring campaign impact.
Nielsen teamed up with Experian, the credit reporting agency, and dLife, the leading online resource for diabetics, to develop a program targeting the diabetes community. Diabetes accounts for 31 percent of health care costs in the U.S. and approximately $175 billion in spending. Using diabetics' common interest - in this case - how their disease shapes their lives and influences their food purchasing patterns - the team was able to pinpoint high-value consumer targets, determine the best retail channels to reach them and deliver marketing materials that were specific to their needs.
Read the full case study on how predictive analytics shaped this campaign and can uncover the hidden treasure of consumer value in the current edition of Consumer Insight.