Consumer segmentation systems like PRIZM continue to be necessary and effective, especially in our current environment, a period that represents unprecedented change affecting every aspect of our social and economic lives. Through conversation with partners and clients, we see a demonstrable need for organizations to access a reliable and complete picture of Canadians as we continue to navigate the challenges of the COVID-19 pandemic. Many of us wonder what has changed and if that change is permanent. How have shopping behaviours and leisure activity changed? Will new habits like cooking at home continue or will people shift back to their old patterns?
Segmentation systems like PRIZM help us understand the extent to which changes in behaviour have taken place for different groups and subsets of the population. Now more than ever, businesses and organizations must leverage these data to understand what the new realities are and what kinds of services, marketing messages and monitoring are required to help us get our economy back on track.
PRIZM classifies Canadian neighbourhoods into 67 lifestyle types at the 6-digit postal code level to offer businesses and organizations a single, comprehensive view of citizens, customers and consumers. It is simple, sophisticated and a valuable asset to data-driven marketers.
10 Benefits of PRIZM segmentation:
PRIZM has always helped analysts and marketers to get the right message, to the right people at the right time in the right channel. And this will continue. It will help us understand the extent to which changes of behaviour have taken place for different groups and different subsets of the population in response to the COVID-19 pandemic. For example, by connecting PRIZM to mobile movement data we can answer questions such as:
Through the lens of PRIZM we're going to know what kind of tactics and messages can make a difference for businesses and other organizations as the economy rebounds and we try to return to some level of normalcy or what everyone is starting to call the "new normal".
Pictured below: An assortment of PRIZM Segment Illustrations