Defining audience segments
Equifax assisted an Australian automotive brand to launch a new model into the highly contested SUV market. This competitive market ‘now accounts for 31.4 per cent of the market, or almost one in every three new vehicles sold in the country’. The key objective was to identify and communicate to early adopters most likely to embrace the new model.
In April 2014, the automobile industry faced in Australia faced significant challenges with new car sales slumping to their lowest level in two years. Just five months later, in September 2014 ‘the Australian new vehicle market posted its first positive result of the year.'
It was in this environment that automotive manufacturers needed to place increased importance on understanding which customer segments sales volume would come from and building brand relevance and brand preference versus their competition.
Equifax undertook analysis of the competitive models within the SUV category and developed a prospect selection methodology to define which audience segments the vehicle would appeal to. This was achieved through profiling our partner Nielsen's Consumer Media View (CMV) market research database overlaid with attributes from our Consumer Lens data asset.
Once the audience profile was built, a database of prospect households was identified from Equifax's Digital Universe of 2 million email addresses (consented) to determine who to communicate to about the new model.
Equifax assisted the customer to execute a progressive roll out of digital communications to target prospects generating interest and leads for this model. As sales were made vehicle ownership data was analysed to understand buyer characteristics including life stage, income and lifestyle.
These insights were used to refine the selection criteria and drive improved marketing efficiency.
Post campaign analysis of customer sales data proved Equifax analysis and targeting helped the customer to achieve a 48% lift in sales above existing targeting strategies delivering 159 incremental car sales from this campaign alone.
Equifax provides a range of other services to this automotive manufacturer across data remediation and CRM as well as existing lead generation activity.