The NEO Approach
A team of social scientists led by Dr Ross Honeywill spent two decades identifying the NEO MINDSET, defining the consumers with the highest value-potential. NEOs live and work in the $517bn NEO Economy. And nobody knows more about them than we do at PREMiUM.
We know what NEOs do, what they’d like to do next, and crucially, what makes them fall in love with a PREMiUM product, service or experience.
Once you have that kind of market intelligence at your fingertips, it’s a short journey through the intersection of industry data and client needs to arrive at a bold strategy.
Our kind of strategy is, however, not rooted in the industrial era. Ours is an emergent strategy jam-packed with innovations and evidence; an Agile strategy that values speed and results way ahead of engagements that run for years.
Ours is a simple approach: we know who the most valuable customers are – NEOs. We know everything about them, including where they live. We are quick at identifying your problem – what you most need to achieve (which is not always what you want to achieve). Strategy is then the revealed beauty – the steps that connect the problem and the solution.
Your Business Goals
We start by understanding your business goals. Different clients have different business priorities, so our Discovery Workshops are essential to identify, quantify and prioritise the problems to solve.
Next, using accelerated analytics, we take those goals and interrogate our Deep Data to give you strategic options – not 3 billion data points.
We then contextualise those strategic options by ranking your brand and products in the NEO Economy. We also measure the success of your brand and products against key competitors – both in the general economy and in the NEO Economy.
Your NEO Mindset
We start with our own sophisticated model of the NEO consumer – that is the consumer with the highest value potential – and adapt to your context the hundreds of psychographic, sociographic and demographic attributes that bring the mindset to 3-dimensional life. This creates an optimal customer mindset unique to you, based on the richest insights and attributes in the market. No expensive, time-intensive research projects – just a leap-frog process that begins where others end.
So, now that we know precisely who we are targeting, we can take your strategic options – each with its own brand +product value proposition and key messaging – and test them directly with your NEOs. Incidentally, we also use a smaller sample of non-NEO customers as a control. All this we do online so it is quick, inexpensive, and highly predictive.
Now we have the right strategy, the right value proposition, the right messaging and the right products at the right price – all voted for by your own NEO customers.
Your User Experience (UX)
But we need to be certain that what is promised can be delivered. Surprisingly, customer satisfaction and even Net Promoter Scores (NPS) don’t directly drive customer engagement, sales, and loyalty. Customer engagement and loyalty grow instead from the totality of mindset-aligned interactions throughout the user experience.
Our partner team of UX designers starts with the NEO mindset and applies those values, attitudes, desires, and expectations to every touchpoint. This creates mindset-aligned interactions throughout the customer journey.
Locating NEOs …
Our most asked question is, “How do we find NEOs?” So, we spent years perfecting how to find them – in your own database, in their own homes, on their digital devices.
On Your Customer Database
Millions of available dollars are hidden in your own customer database. We specialise in unlocking that hidden value by finding the NEOs.
- High-value NEOs can be flagged on any customer database. Using sophisticated modelling we integrate your customer database with the vast Roy Morgan consumer database embedding the NEO algorithms (using the world’s highest data privacy protocols).
- This attribution enables us to flag NEOs, Aspiring NEOs and Traditionals on your customer database with an accuracy of up to 80% (random = 24%).
- Once flagged, your own NEOs can then be recruited into learning loops to optimise creative, media, website content and channels. This delivers surgical precision of personalised, relevant messaging via DM and EDM.
- The result is reduced spend and increased (hidden) value.
Where They Live:
- Using Roy Morgan Live Mapping we will reveal on your own personalised dashboard where NEOs live. Anywhere in Australia. Down to Meshblock accuracy of 27 households. The Live Mapping dashboard allows you to view NEO density in suburbs or trade areas, and around stores, branches, dealerships, and businesses. This is an essential planning tool if you’re optimising local area marketing or merchandising. It also optimises out-of-home (outdoor) advertising and unaddressed mail drops.
In-Home / On Devices
- Using partners like Greater Data we can code NEOs onto its 16 million named addresses, 5.2 million telephone numbers, and 3.5 million email addresses.
Advertising to NEOs …
Via Your Media Agency
- In Australia, 94 percent of all media dollars are planned and spent using Roy Morgan’s Asteroid MediaPLANNER. NEOs are already pre-loaded, so every media agency that subscribes to Asteroid MediaPLANNER has NEOs in their database – we just need to provide a PREMiUM key to make them visible.
Via Our Partners
- Our partner Eyeota can distribute NEOs through its data marketplace enabling your media agency or your own trading desk or you yourself to target them within the programmatic trading ecosystem. Eyeota clients can target NEOs on the top 50 media buying platforms, and through all their major trading desk partners including Xaxis, Accuen, Ikon, Vivaki, Cadreon, and Sparc.
- When planning digital campaigns, your first-party data is often limited, and ‘native targeting’ of premium audiences is sub-optimal on social media platforms like Facebook. What is needed is PREMiUM deep data that connects you directly with real people, real NEOs. So we made NEOs available as PREMiUM third-party data segments on LIVERAMP (the leading, and free, digital marketing tool). With a PREMiUM key, you can now target NEOs on all the most valuable digital platforms including:
- Adobe Advertising Cloud
- Google Ads
In partnership with Roy Morgan and Telstra, we have the gold standard tool to measure NEO engagement with your website content or your digital campaigns. A ‘NEO Pixel’ is embedded in key content and digital ads to track NEO engagement anywhere on your website or app, across all devices. To achieve this, NEO algorithms are matched with a passive measurement panel of 20 million Telstra connected devices and the Roy Morgan Single Source database.
What does that look like? Raw digital events from the NEO Pixel are ingested into our algorithms and processed and aggregated on the Google BigQuery Cloud service. NEO metrics and insights are then delivered to you via an intuitive dashboard – or via API into your own preferred BI tool.
A NEO strategy and implementation enables you to reach a proprietary premium audience, at scale, with targeted ads, targeted creative, targeted content, and targeted messaging designed to engage PREMiUM consumers and influence their buying behaviour – making reach-into-dollars (not eyeballs) the new standard. This is precision targeting and tracking, delivering a view-of-the-single-customer and true one-to-one marketing.