Herdify launches Audience Discovery, a new feature that shows organisations where their audience is most valuable because of word-of-mouth.
Same segments, different value
Most organisations plan around the same demographic segmentation as their competitors. Audience Discovery works inside those segments. You don't need new data, new spend or a new targeting model.
It compares your word-of-mouth postcodes against your non-word-of-mouth postcodes within each Mosaic group, across three measures:
- New customer rate: new customers per 1,000 households
- Lifetime value: what each customer is worth over time
- Revenue opportunity: the total value available from the group
The demographics are the same on both sides, so the only difference is whether word-of-mouth is present.
Find the audiences a ranking hides
Audience Discovery also shows groups whose word-of-mouth areas outperform segments ranked well above them. A standard demographic ranking hides these audiences, so they usually go untargeted.
Ed Barter, Co-founder and CPO at Herdify, said:
"Most demographic data tells you who a customer is, but it won't tell you if they are talking to their neighbours about you. Audience Discovery shows brands where word-of-mouth is actually happening, and assigns a real revenue figure to it.
We are focused on providing clients with the best possible insights for their audience and marketing strategies."
It’s the first feature to launch as Herdify looks to provide deeper insights to help customers better understand what word-of-mouth is doing for their business and how to use it more effectively in their growth strategy.
Audience Discovery is live for all customers, and updates automatically as your sales data is updated. Already a customer? Log in to explore your audience, or speak to your Customer Success Manager.
Book a demo to see what the value of word-of-mouth is to your brand.
