The World's Largest Research Institute
Dedicated to Discovering How People Make Choices
Dedicated to Discovering How People Make Choices
There are two elements of data — internal and external.
External data is perhaps the most common method used to acquire a composite picture of our customers. It includes physical elements like demographics (e.g., income bracket, age, etc.).
But it is the internal elements that we should be using for customer segmentation — understanding how these decisions were made, not just which decisions were made. This type of data is the most important to use when determining how to tailor our messaging so that we can truly provide customer-first experiences in our marketing efforts.
In this excerpt from a session of the University of Florida and MECLABS Institute graduate certificate program, Flint McGlaughlin discusses internal elements of data and further explains its value.
External data is just the physical evidence of a decision made by us or about us [in our lives] … It is how people choose that really indicates the most important way to communicate and separate our messages.
– Flint McGlaughlin, CEO and Managing Director, MECLABS
This excerpt is from Session 6, Reconciling our Customer Knowledge Gap, from MMC5259: Customer Relationship and Effective Lead Management course, part of our graduate certificate program offered through UF. The full session aims to introduce students to the unique and unprecedented nature of the web and how it can be used as a living laboratory to study the cognitive decision process of our customers and predict their future behavior.
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