Consumer lifestyle data provides intelligence on the lifestyle characteristics of consumers, including habits, interests, hobbies, political affiliations, and attitudes. This data helps with customer lifestyle segmentation based on age group, gender, location, and income range.
This data delivers consumer insights into how they spend their time, their consumption patterns, social trends, motivations, needs, and wants.
The primary way to directly gather the data is through surveys at national or local levels, including interviews with members of target markets. It is sometimes augmented with other marketing data, demographic data, or transaction and purchase history of individuals.
Another prominent methodology of gathering this type of customer data is through tracking the online and eCommerce shopping behavior of consumers. Cookie tracking, web scraping, and social media tracking can quickly provide lifestyle data of a large base of consumers. This data comes from several sources of mobile and online data collection methods, with details of location, movement patterns, number of devices, downloaded apps, time spent on apps, and in-app purchases.
At times, private surveys can provide custom information on lifestyle and lifestyle choices.
Financial institutions, health care insurers, and banks gather data on their customers, which they can use in their own marketing.
This data is often organized into demographic market segments such as age group, gender, location, education, profession, employment status, income bracket, and marital status. Depending on your requirements, many vendors offer custom segmentation to match your target market segmentation.
The standard attributes include:
The quality of the data depends on its sources; the number of devices tracked for each consumer may not deliver accurate identity validation. Some of the devices may be used by family members or other individuals not related to the owners. Comprehensive, accurate tracking of each consumer across all channels and devices is the primary focus while testing for high-quality consumer lifestyle data.
Source credibility, data consistency, and privacy compliance are other factors you need to validate before using the data for the intended purpose.
To test the quality of the consumer lifestyle data:
All types of industries use this data for sales, marketing, messaging, and customer care use cases. It is also helpful to build personalized customer experiences. Market research based on consumer lifestyle data provides deeper insights and can drive targeted marketing campaigns. Knowing where and how consumers spend time helps plan focused advertising campaigns that are more likely to engage with the targeted consumer segment. You can also use this data for reaching out to past customers who no longer use your products or services.
Consumer lifestyle data is leveraged to make brands more identifiable and attractive to the target consumer segment. This data also drives decisions about endorsements from celebrities and social influencers.
Trends indicated by consumer lifestyle data help travel, hospitality, and entertainment companies to forecast demand and identify pricing. Other industries sometimes use this data to learn how their business can benefit from new lifestyle trends.
A common challenge when looking for consumer lifestyle data is ensuring its accuracy and timeliness. This data drives several strategic decisions about product development, marketing, sales, pricing, and customer care. Poor quality consumer lifestyle data cannot deliver the right insights to support appropriate decisions.
Consumer lifestyle data is similar to consumer behavior data, consumer intent data, consumer propensity data, and other related demographic data categories used for marketing and targeted advertising.
You can find a variety of examples of consumer and demographic data in the Explorium Data Gallery.
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The most common use cases for consumer lifestyle data are data-driven advertising, audience targeting, and customer segmentation. This data can also be leveraged for product personalization, dynamic pricing, and increasing customer lifetime value (CLTV). You can also use this data to enrich other types of consumer demographic data for use in your industry.
CPG, retail, travel, hospitality, leisure, and entertainment industries leverage consumer lifestyle data for marketing. Financial institutes, insurance providers, and banks also use this data, augmented with their own tracking of consumer spending, to offer specific products for their target segments.
The vendors for consumer lifestyle data supply large data volumes with a variety of attributes. You can use several methods to assess the data quality, consistency, and suitability for your requirements. Vendor websites provide the details of attributes with segmentation and regions. You may find customer reviews on the websites, which are good indicators of vendor quality and reliability. A demo helps evaluate if the datasets match your requirements and if they can easily integrate with your current technological tools. Interacting with vendor reps is a good idea to get your queries resolved quickly.