Data and tech driven marketing agency Merkle is launching a proprietary transaction data analytics tool in the UK, which it claims offers client marketers access to the “most comprehensive set of British consumer spending insights available”.
“Merkle Wallet” is powered by what the firm insists is the broadest industry view of credit card transaction data across the UK – comprising up to 95% of total anonymous purchases – and augmented by insights from Merkle’s market-agnostic data platform, DataSource, launched last year.
It claims Merkle Wallet will enable clients to understand detailed online and offline consumer spending patterns (including seasonality, average transaction value, and frequency of spend) for both their own brand and key competitors.
The Dentsu Aegis Network-owned agency maintains the data platform can also be used to understand behaviours in other non-competing sectors or across consumer travel spend. By linking these wallet behaviours with DataSource, and its media activation scheme, M1, Merkle believes it has created a more powerful and customisable dataset for brands.
By enabling clients to link business strategy with audience strategy, using insights based on real-world transaction behaviour, Merkle boasts that its Wallet helps streamline marketing efficiencies while simultaneously driving long-term customer value.
Merkle EMEA senior vice president of data solutions Nick McCarthy said: “Our clients understand that they must deliver a truly people-based marketing strategy if they want to maintain ‘share of wallet’ or drive customer lifetime value in an increasingly competitive landscape. However, market pressures mean that business leaders can no longer justify isolated data spend which doesn’t translate to growth across the entire business and a more unified consumer experience.
“By connecting previously disparate data on consumer spending patterns into a central hub, Merkle Wallet enables clients to generate actionable business, operational and marketing insights, and differentiate their customer experience, deliver business growth and improved marketing ROI.”
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