The latest frontier of Customer Experience Analytics coming soon to a data source near you.
Psychographics (def) – The use of demographics to study and measure attitudes, values, lifestyles, and opinions, as for marketing purposes. (used with a pl. verb) The data obtained from such study.
Geospatial (adj) – of or relating to the relative position of things on the earth’s surface
Predictive Behavioral Analysis – Based upon Behaviorism (or behaviourism), also called the learning perspective (where any physical action is a behavior), is a philosophy of psychology based on the proposition that all things that organisms do—including acting, thinking, and feeling—can and should be regarded as behaviors, and can be predicted based on previous and current actions.
This all sounds very complicated .. so here is a somewhat simple and visual scenario of what it means (based on a demo I sat through recently) .. it will take a little imagination on your part because if I share the actual screen shots the “black helicopters” will probably come pick me up and you will never hear from me again (stop cheering ..)
Imagine this Google Map view of Boston with 200 color coded segments qualified by a propensity to buy your product:
boston purchasing projection
Which you can “click through” to the local level and get each street color coded by propensity to buy (imagine it):
best neighborhoods to target
And then zoom into the street view (imagine it)
the best street in town to close a deal
And then imagine an apartment block with each window color coded according to the propensity to buy your product or service (Imagine real hard)
3rd floor west facing apartment is the best target
And finally you click on a window and it tells you the following:
A targeted offer embedded in a “Boston Red Sox” email almost guarantees a sale
And now ignore the interactive view and imaging mashing this together with the 6m contacts in your customer database and creating a target list of the 52,000 people with a 75% propensity to buy or greater in a given city.
You get this by mashing together a bunch of different data sources including government data sources, purchasing histories, social media friend networks etc etc and matching those to predictive behavioral models . (note the “click to find friends” option which starts to get really interesting)
This is either very, very, scary or very, very exciting depending on who you are but the question is “why” and “who” cares ?
The “moneyball” in this presentation is the amount a company which was involved in the “trial” is willing to pay for the target list with the “media” and “channel” information. We did a little calculation of a company that is paying $3m a year for online “impressions” and $1.2m for targeted email campaigns who believe that with this information they would strengthen and more appropriately target their online ad spend (which is growing at 50% a year) and spend 3X as much per ad and offer .. kerching !!!
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