In the era of Big Data and huge chunk of consumer information; making the most effective decision to reach the target customers of choice has never been this effective with Intent Data.
For a long time, marketing teams have been using demographics as a proxy for people who might have somewhat of an interest in products. However, research have shown that if marketing is done base on demographics, marketers are at risk of loosing more than 70% of their potential customers (Millward Brown Digital, 2015).
An example to look into is that if we were to think of foot ball customers. Demographics of which would probably look Male dominated and a fairly young age. However, are there females who like foot ball as well? will there be people of junior years interested in foot ball. If we take a step back and look at intent instead, we look at people interested in foot ball regardless of demographics.
This is alarming because to date, many big organisation still rely on demographic data to make decisions.
In iCarAsia, we are currently working on building up our iCarData – Asia’s Automotive Big Data source which provides intent data on multiple stages of a car buyer. Knowing that car buyers take time in deciding a car, each stage of a car buyer portraits a different intent which needs to be fulfilled.
For more info about iCarData, visit: http://icardata.icarasia.com/