Building a model without a data set can be quite a challenge. So what do internal companies do? They gather data, then they build the model. After building the model, they collect more data. Sounds like a great process right? Agile marketing is all the rage, and we agree, but building a model around a data set that isn’t necessarily your target demographic can be, well, costly.
Why Does Your Business Need a Data Model?
Let’s say your business is in the HVAC industry. You want to reach customers who have been in their homes for about ten years and live in a humid climate like Texas. You’re doing outreach for your air conditioning company and that’s about the time when many homeowners need to replace or clean their units. You’ll need homeowner data that dates back to 2011 or further. You’ll probably want to target the wife since she may be entering menopause, so let’s think about married couples over 45 years old. You’ll also want that married couple to have a stable career and a retirement account. How do you go about finding those people — and still keep data compliance?
Well, you could build an email marketing list with a landing page on your website. Then offer an incentive so people sign up to be part of your email marketing list (database). First, you have to market that landing page on social media or direct mail or even radio. You’ll still need to ask this audience for more information. As you engage with the audience, you run the risk of them unsubscribing, too. You’re feeling pretty good about your plan and put subscribers in a drip campaign and retarget them with products and services on Facebook. The problem with this process is that it is slow and not accurate. It also doesn’t account for the personnel you’ll have to hire.
How Can AWI Help Your Data Model?
Building models around a data set is nothing new. However, in the age of GDPR and privacy laws, anonymized data makes building a good data model a challenge. Let’s fix that. With our new product, Model Fuel, you won’t overtrain your model or spend unnecessary costs in the fixing and testing cycle. You’re on a budget and you need good data — sooner rather than later.
Model Fuel delivers over 225 unique data attributes from transaction to trigger to lifestyle all for a fee you can understand. There is an annual plus usage fee structure. Easy, right? Let’s schedule a call today to discuss your data needs.