Introducing Consumer Canvas™: Elevate Your First-Party Data to New Heights

In today’s data-driven marketing landscape, the quality of first-party data can make or break a campaign. Recognizing this critical need, we are thrilled to announce the launch of Consumer Canvas, a groundbreaking data enrichment solution designed to enhance the quality and utility of your first-party data. Powered by MRI-Simmons’ high-quality and nationally representative consumer intelligence, Consumer Canvas provides marketers with the insights needed to make informed decisions and maximize ROI.

The Challenges of First-Party Data

First-party data often faces several inherent challenges that can hinder its effectiveness:

• Limited depth
  First-party data offers very few insights into customer’s lifestyles, values, or attitudes. When it is over utilized, it can dramatically restrict a marketer’s understanding of their consumers. When used alone, it compromises the ability to see trends and limits the ability of marketers to communicate with prospects at the top of the marketing funnel or drive lapsed purchasers back to the brand
• Skewed profiles
  Because first-party data is collected from existing customers or people familiar with a brand, it is inherently skewed. While first-party data is helpful for messaging a brand’s existing customers, it misses important segments of the market to drive growth.
• Data Fragmentation
  To gather as much proprietary data as possible, brands are gathering first-party data from disparate sources, such as loyalty cards, website visits, and email lists. In some cases, brands use these datasets independently from each other. In addition to having limited scale, using different first-party audience segments across different media channels makes it impossible to accurately compare the effectiveness of different media partners and strategies. In other cases, brands are combining first-party data assets to create scale. Because different data sources have different levels of quality and reliability, the results of such combinations are only as strong as their weakest link, which compromises the quality of the entire dataset.
• Limited scale
  First-party data is typically collected from a company’s own user base or sub-set of users. This tends to limit its scale, which can make it hard to efficiently find and target these audiences. As a result, many campaigns based on first-party data never reach a critical mass of consumers and often create over-frequency issues that drain marketing budgets.

These challenges can lead to incomplete customer profiles, unbalanced datasets, and ineffective media strategies. Consumer Canvas addresses these issues head-on, providing a robust solution that enriches first-party data with accurate and comprehensive insights.

Benefits of Data Enrichment

Data enrichment offers numerous benefits for marketers looking to optimize their marketing strategies and gain competitive advantages over rival brands By enhancing first-party data, marketers can gain a more holistic view of their customers, profile high-value prospects, and consumers of competitive products or services. Enrichment allows them to uncover new marketing opportunities, discover unique insights, and activate advanced audiences across a variety of media touchpoints to drive better marketing outcomes.

How Consumer Canvas works

To build Consumer Canvas, MRI-Simmons partnered with multiple identity providers, including TransUnion, to deterministically match respondents of the MRI-Simmons USA study to national consumer files. Based on that match, over 60,000 attributes from MRI-Simmons are modeled onto ~250M US adults, creating an identity spine that is weighted and balanced to ensure parts of the population often under-represented in big data are accounted for. That identity spine powers the Consumer Canvas dataset, which marketers can use to quickly enrich first-party data, facilitating audience discovery and activation.

Why Consumer Canvas?

Consumer Canvas is differentiated by the depth and quality of consumer insights it enriches first-party data with.

• Consumer Canvas offers accurate insights sourced via a probabilistic sampling methodology that is audited annually by a respected third-party. In late 2023, a Pew Research study found that probability-based samples are twice as accurate as opt-in samples, underscoring the importance of data sourcing and methodology.
• MRI-Simmons’ single-source data collection retains relationships between what people buy, watch, value, and their intentions, providing a connected view of consumer behavior.
• With over 60,000 consumer attributes, including 1,800 rich psychographics, Consumer Canvas delivers comprehensive insights that go beyond basic demographic and geographic data. In fact, a recent QSR client leveraged MRI-Simmons’ comprehensive insights to power an audience-based campaign that drove a 7% lift in incremental visits compared to a demo-based buy. The campaign also resulted in 13% savings in cost-per-visit, was 87% more efficient in cost-per-incremental visit, and saw a 24% reach lift from 1:1 environments.
• Additionally, the underlying data in Consumer Canvas is representative, ensuring that all parts of the population are accurately reflected.

Simply put, Consumer Canvas is a game-changer for marketers seeking to improve the quality and utility of their first-party data. By leveraging Consumer Canvas, marketers can overcome the limitations of their first-party data and unlock its full potential. This solution not only enhances the depth and accuracy of customer profiles but can also corrects skews inherent in first-party datasets, providing marketers with consistent and high-quality audiences that can be targeted across all media partners and platforms. This enables valid comparisons of different audiences and media investments, helping marketers optimize their campaigns and drive ROI.

With its accurate, single-source, comprehensive, and representative insights, Consumer Canvas empowers marketers to make data-driven decisions with confidence. Don’t let the limitations of your first-party data hold you back—embrace the power of Consumer Canvas and elevate your marketing efforts to new heights.

To learn more, visit our Consumer Canvas landing page, or contact us today!