The $6OObn Desire Economy & You
Our team, led by social scientist Dr Ross Honeywill, spent two decades identifying consumers with the highest value-potential. They live and work in the $600bn Desire Economy. And nobody knows more about them than we do. We know what they do now, what they’s like to do next, and what makes them fall in love.
Once you have that kind of market intelligence at your fingertips, it’s a short journey through the intersection of industry data and client needs to arrive at bold strategy.
Our kind of strategy is, however, not rooted in the industrial era. Ours is an emergent strategy jam packed with innovations and evidence; an agile strategy that values speed and results way ahead of engagements that run for years.
Ours is a simple approach: we know who the most valuable customers are. We know everything about them, including where they live. We are quick at identifying a client’s problem – what it most needs to achieve (which is not always what it wants to achieve). Strategy is then the revealed beauty – the steps that connect the problem and the solution.
Your Business Goals
We start by understanding your business goals. Different clients have different business priorities, so our Discovery Workshops are essential to identify, quantify and prioritise the problems to solve.
Next, using accelerated predictive analytics, we take those goals and interrogate our Deep Data to generate three strategic options – not 3 billion data points.
We then contextualise those strategic options by ranking your brand and products in the Desire economy. We also measure the success of your brand and products against key competitors – both in the general economy and in the Desire Economy.
Your Optimal Consumer Mindset
We start with our own sophisticated model of the Desire Economy consumer – that is the consumer with the highest value potential – and adapt to your context the hundreds of psychographic, sociographic and demographic attributes that bring the mindset to 3-dimensional life. This creates an optimal customer mindset unique to you, based on the richest insights and attributes in the market. No expensive, time intensive research projects – just a leap-frog process that begins where others end.
So, now that we know precisely who we are targeting, we can take your strategic options – each with its own brand +product value proposition and key messaging – and test them directly with your optimal customer cohort. Incidentally, we also use a smaller sample of non-optimal value customers as a control. All this we do online so it is quick and inexpensive. It is also highly predictive.
Now we have the right strategy, the right value proposition, the right messaging and the right products at the right price – all voted for by your own optimal value customers.
Your User Experience (UX)
But before you start marketing we need to be certain that what is promised can be delivered. Surprisingly, customer satisfaction and even Net Promoter Scores (NPS) don’t directly drive customer engagement, sales and loyalty. Customer engagement and loyalty grow instead from the totality of mindset-aligned interactions throughout the user experience.
Our international partner team of UX designers starts with the optimal mindset and applies those values, attitudes, desires and expectations to every touchpoint. This creates mindset-aligned interactions throughout the user experience.
Your Precision Targeting
We have proven tools to reach existing customers in your own customer database. And to reach new customers …
Targeting Existing Customers:
- Optimal consumers can be flagged on any customer database. Using probabilistic modelling we identify between 6 and 30 proxies on your customer database to match with the vast consumer database embedding the optimal customer algorithms.
- The result is target customers flagged on your database with an accuracy of up to 80% (random = 24%).
- Once identified, high-value customers can then be recruited into learning loops to optimise creative, media, website content and channels. This delivers razor precision of personalised, relevant messaging via DM and EDM.
- The result is reduced spend and deepened share of wallet.
Acquiring New Customers:
- We model your optimal customer cohort onto Roy Morgan Helix system, using a ‘Optimal Strand’ for use with partner service providers like, for example, Acxiom which, with its reach of 16 million Australians, has coded Helix to its 6.2 million named addresses, 1.8 million email addresses, 1.8 million telephone numbers, and 3.3 million Facebook users.
- Or, as another example example, Greater Data which has coded its 16 million named addresses, 5.2 million telephone numbers and 3.5 million email addresses to Helix.
- Or, a programmatic example, Eyeota which has distributed Helix through its data marketplace enabling media agency trading desks and direct advertisers to target your high-value consumers within the programmatic trading ecosystem. Eyeota clients can target the ‘optimised strand’ on the top 50 media buying platforms, and through all their major trading desk partners including Xaxis, Accuen, Ikon, Vivaki, Cadreon, and Sparc.
Evaluating Your Success
We provide you with the most sophisticated and effective reach and evaluation platforms available. A ‘Optimal Customer Pixel’ is embedded in every piece of content and in every digital ad to track optimal consumer engagement anywhere on your website or app, and on every ad across all devices. To achieve this, optimal customer algorithms are matched with a passive measurement panel of 19+ million Telstra connected devices and the Roy Morgan Single Source database.
What does that look like? Raw digital events from the Optimal Customer Pixel are ingested into our algorithms and processed and aggregated on the Google BigQuery Cloud service. Optimal Customer metrics and insights are then delivered to you via an intuitive dashboard – or via API into the client’s own preferred BI tool.
Desire Economy strategy and implementation enables a client to reach a proprietary premium audience, at scale, with targeted ads, targeted creative, targeted content, and targeted messaging designed to engage premium consumers and influence their buying behaviour – making reach-into-dollars (not eyeballs) the new standard. This is precision targeting and tracking, delivering a view-of-the-single-customer and one-to-one marketing.