How Neighborhood Context Solves the Local Data Problem
Neighborhoods play an essential role in people’s daily experiences. People seek out neighborhoods where they feel a sense of shared identity, and neighborhoods shape the kinds of businesses that thrive there. Yet, as the promise of location data and individual hyper-targeting unfolds, marketers are overlooking this key data point.
Even as marketers focus on every hyper-specific data point they find, they understand less about why their target does what they do, and what drives those individuals at a deeper level. We would be alarmed if we didn’t believe there wasn’t a solution to this dilemma. As it turns out, the next breakthrough in marketing strategy was in our neighborhoods all along.
Our research bears this out: our survey of 14,000 consumers found a deep and pervasive sense of connection to their neighborhoods. Seventy-six percent felt that neighborhoods said something essential about the people within them. That same survey demonstrated a persistent demand for marketers to offer more neighborhood-tailored retail experiences, brand communications, and services.
For brands with a global footprint, doing business at the neighborhood level requires them to tailor their offerings and contribute to the community experience, beyond just fulfilling a functional need.
Our Neighborhood Factor team has always believed that neighborhoods have untapped emotional value for marketers. The problem, of course, was that it’s been too challenging to capture, categorize, and leverage those neighborhood insights in a scalable way. Not anymore. We’ve crafted a big data model to analyze over 1 billion neighborhood data points and “read” neighborhood identities. By applying this neighborhood context to data and marketing challenges, Neighborhood Factor is excited to help businesses build deeper neighborhood connections and give consumers more of what they really want: a sense of shared pride in their neighborhoods.
At Neighborhood Factor, we believe neighborhoods provide essential context to data about people and place, complementing that information with insights into consumers’ emotions and identities. In Chicago on April 4th, we will host a day-long conference to introduce the groundbreaking power of Neighborhood Amplified Marketing. This system of neighborhood insights, data, and strategies will augment marketing efforts to build deeper connections with critical neighborhood residents. Brands, businesses, and agencies that join us will:
- Be the first to see results from Neighborhood Factor’s survey of 14,000 neighborhood residents across 50 U.S. cities
- Learn to decode neighborhood patterns and apply those insights to marketing and business strategies
- Hear speakers from both global and local companies that have successfully established neighborhood-level credibility
Event details are available at nbhdfactor.com/conferences. Street Fight readers can access the full day of content for only $449 by using the code “StreetFight” during registration. (Got a group? Contact us for additional discount options.)
Marketers are working harder than ever to reach consumers where they live, work, and play. Having worked on marketing strategy for some of the world’s greatest brands, we’ve had a front row seat to the data revolution in consumer targeting and insights. Join us on April 4th to learn more!