How to find the best life event data

September 25, 2024 By

Babies, jobs, vehicles, houses, and spouses — these are just some of the major events in people’s lives. Customer experience, marketers, and product managers use them to design marketing campaigns and new products. Life event data makes that work easier and more accurate, by giving businesses confidence in the source they’re using to develop their strategies.

Finding the best life event data for your business requires a strategic approach that leverages the right sources, tools, and evaluation criteria. That’s where EASI’s reporting shines. We gather data from high-quality sources around the country, and apply our proprietary data analysis to it to identify the most relevant insights for your business. We use data such as Age of the Head of Households, Marital Status, Housing Type, and Vehicle Ownership to help our clients identify new business opportunities and products.

Why life event data matters to companies

Life events are the big moments in people’s lives where something changes, usually for the better. For example: when they get a new job, move to a new city, buy a property, get married (or divorced), have children, buy a vehicle, or retire. Each moment offers businesses a new opportunity to sell a product, suggest a service, or do something that helps people navigate that time more smoothly.

Smart businesses can use life event data throughout their business processes to enhance marketing campaigns, develop more accurate customer segments, personalize marketing and sales messaging, and identify new business and product opportunities. For example, rolling out a new marketing campaign for areas with higher birth rates; creating new products for people who’ve bought property in areas with high house sale rates; or, changing sales and customer success messaging for products that have suddenly become popular for a customer retention program. Each moment is an opportunity to position the business to discover new avenues of revenue growth.

The evolution of life event data

Using life event data in business isn’t new. It’s why we see an uptick in office supply store ads in late summer as families gear up for the new school year; why furniture stores run more ads in the spring and summer to get the attention of those buying new houses; and why wedding-related businesses target late winter and early spring for their campaigns and products.

What’s changed is how data is gathered, and some of the demographics of the data as people and society evolve. Businesses can now find and use meaningful and reliable data on their consumers, before and during a life change — to plan and react more strategically at all phases of that change.

Here are the four main categories of life changes that businesses look at:

  • Engagements: A wider cross-section of people are getting engaged today and will be looking at purchases in travel, hospitality, jewelry, real estate, and insurance markets.
  • Marriages: People and blended families coming together after a wedding is a significant dataset given that housing, location, and spending on related services are a big chunk of a married couple’s budget.
  • Moving: New homeowners, those downsizing, or changing locations for work will need related services and products to help facilitate the process, such as furniture, decor, and real estate and moving services.
  • Children: No matter their age, new children are a strong indicator of future purchase patterns and needs in various categories like clothing, insurance, furniture, and groceries.

As people and society evolve, these categories will change, too — so businesses will need the right data strategy and approach to identify changes early enough to take advantage.

Key sources for life event data

Historically, businesses have used various sources to find life event data, including public records, government sources, consumer data platforms, and internal resources like CRMs. But those sources are often isolated from each other. It might not be easy to gather and analyze the data to find information that can unlock growth opportunities.

This is why businesses come to EASI. Not only do we have access to all the data available in the country, but we also have the data and data analytics expertise to create the reports our customers need and want. Whether they use one of our standard reports like the EASI® Quick Report, or purchase our Master Database so they can identify their own insights — our high-quality data helps them unlock the insights and chase the right growth opportunities.

Life event data powers successful businesses

Whether it’s a new spouse, baby, or home, our lives evolve as the years pass. Businesses have been using that information to design new products and marketing campaigns that directly impact their bottom lines. They know how to use this data to craft relevant marketing and sales messaging that speaks directly to people when they need to hear it most; and to develop new products and services that match up with the way people live today. But not just any life event data will do.

It takes more than accurate and updated data to develop innovative products and services, though that is a good start. Smart businesses partner with a company like EASI, whose data analysis experts can develop unique and relevant life event datasets and reports for you. This is what life event reporting that aligns with your business and customers looks like.

Contact EASI today to see how our life event data can help you.