PreciseTarget today announced the expansion of a strategic data relationship with Equifax to enable retailers to target and convert customers based on personal shopping tastes more efficiently. Starting at the beginning of November, this partnership will offer new products that integrate PreciseTarget’s Product Taste Audiences with Equifax Discretionary Spending Capacity data, helping retailers to more effectively recognize and market to consumers based on the shopping taste of every individual.
Permissive Spending Capacity data from Equifax improves the efficiency of marketing with an estimate of consumer’s likely discretionary power of spending. PreciseTarget’s stand-out approach to profiling the taste of consumers enables brands and retailers to overcome challenges typically associated with sparse customer data. PreciseTarget analyzes every day retail data and billions of transactions to distinguish the attributes that actually determine individual consumer shopping taste and purchase habits, attributes such as brand, fabric, fit, price, and color.
Jeff Sporn, Chief Digital Officer of Data-driven Marketing at Equifax stated that “Helping the retail industry succeed by providing insight and matching them with their ideal customers through precise messaging is an exciting opportunity for us. Artificial Intelligence-enabled assortment planning and e-commerce are changing consumer shopping habits rapidly, and these revolutionary data sets will empower retailers to thrive in this new reality.”
Rob McGovern, CEO of PreciseTarget said that “We are proud to announce this exciting new chapter in our partnership with Equifax. By combining the unmatched Equifax understanding of consumer spending capacity with PreciseTarget’s unique ability to reach consumers according to their individual taste, we’re giving retailers the capability to serve relevant advertising that will improve efficiency, increase sales, and reduce waste. As businesses gear up for the make-or-break holiday shopping season, the requirement for retailers to be agile in their planning and marketing has never been more essential.”
Unlike other retail targeting products, PreciseTarget’s taste audiences don’t depend on clickstream data or cookies. Product Taste audiences of PreciseTarget offer profiles of more than 220m customers and combined with spending capacity data from Equifax, can provide extraordinary insights in customer acquisition and conversion for retailers.