Analytics and media company Resonate has upgraded its software package for marketers with a suite of enhanced market-positioning tools that tap into the company’s massive consumer behavior database. That database is designed to help clients understand what motivates customers (or competitors’ customers) to buy.
The company, which offers both analytics and media placement services, analyzes Big Data to glean insights about the personal values of consumers and how those values influence product preferences and media and purchase behavior.
Resonate conducts primary research studies, capturing thousands of unique consumer attributes. It maps terabytes of daily behavioral data to 15,000 monthly in-depth surveys that form its extensive database of human motivations. The company’s pitch to marketers is that by tapping into this database CMOs and brand managers can better understand opportunities in the market, develop unique consumer segments and optimize more personal messaging, creative and delivery for those segments.
“We have flipped the traditional customer research and insights process on its ear,” said Bryan Gernert, CEO of Resonate. “In the past, marketers were forced to learn about consumer values through long, expensive, custom projects and static reports on consumer insights that were disconnected from marketing’s execution.”
That, in turn, “left marketers to base their strategies on broad demographic segments and behavioral proxies,” said Gernert. “Now, in seconds, marketers can get a real-time view into any customer segment desired, including their values and motivations, with a direct linkage to execution.”
As a result, added Gernert, “campaigns and creative are ‘pre-optimized,’ and with a much more complete picture of the customer, letting marketers focus on generating results and accelerating the feedback cycle.”
According to the company, marketers can slice and dice thousands of consumer attributes in the firm’s database including consumer values, such as personal freedom, doing things for others and just for fun. Segments are also available for product preferences, such as cost-effective, dependable and innovative, and shopping preferences like the importance of a frequent-shopper program, location convenience and return policy.
The firm’s customers include both marketers and agencies, as well as a number of shops for which Resonate executes media buys. Headquartered in Reston, Va., the firm was founded in 2008. Initially its analytics approach was used by political campaigns, still a source of business for the company.
Resonate is privately held, having raised nearly $30M in funding from various firms, including Greycroft Partners, iNovia Capital and Revolution Growth.