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What do a newly married couple, a recent college graduate, and an expectant mom all have in common? Yes, this sounds like the beginning of a bad joke, but in actuality, each of these consumers are experiencing life event changes. And when consumers make important life decisions or are in a state of change, these milestones tend to define spending habits.
A newly married couple may be ready to furnish their new home. Or a recent college graduate may be in market for a new vehicle. Whatever the circumstance, marketers can take advantage by sending offers to coincide with these moments.
Life event marketing isn’t new, but if you aren’t implementing this strategy into your marketing plans, it is time to reconsider. Historically, businesses understood the value of marketing based on life events but the most common challenge tended to be finding the data and acting on it while it was still fresh.
After all, if you learn about a newly married couple 3 months after the fact, many of the opportunities will have long passed you by. The world is now faster and data is created and collected instantly. Just as important, data solution providers have become more sophisticated in how they source these life defining moments, allowing marketers to target consumers before the opportunity is lost.
Take a look at some of the ways marketers use life event data to target consumers based on life-changing events....
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