What is PRIZM?
PRIZM is a segmentation system that categorizes each Canadian and US household into one of 68 consumer segments. The system defines consumers based on their neighbourhood (at the postal code or ZIP code level), allowing for more focused marketing efforts. It helps marketers understand their customers based on their behaviours, provides insights on how to appeal to them, and reveals how to reach them. In Canada, PRIZM is obtained from Environics Analytics, a Toronto-based marketing and analytical services company.
For more information, see the Environics Analytics website: www.environicsanalytics.ca
What PRIZM cluster are you? To find out, enter your postal code here: www.environicsanalytics.ca/prizm5
How is it applied?
PRIZM enables marketers to answer the following questions:
Who are my customers? Through uploading past and existing customers’ postal/zip codes to the system, users can map the location of their customers to better understand who they are, where they are from, and what are the popular consumer (PRIZM) segments within these areas.
What do my best customers look like? As PRIZM links a variety of consumer databases to each segment, users can gain additional ‘views’ of their customers based on demographic, psychographic, and lifestyle characteristics. These deep customer insights help profile and describe the customers so users can strategically create target groups (best customers).
Where can I find my best customers? Once users identify who their best consumers are, how to describe them, and how to locate them, they can look at how best to reach and how to create messages that will resonate with them. In addition, by profiling their target customers, users can then identify where other similar behaving consumers also exist, discovering potentially untapped market opportunities.
Destination BC acquired a one year primary PRIZM license from September 1, 2016 to August 31, 2017. Under this primary license, four organizations signed up as sub-licensees.
In addition to generating insights for internal purpose, Destination BC and its sub-licensees have the ability (at their discretion) to perform PRIZM analysis to fulfill external requests from tourism organizations and businesses in BC. Eligible entities include destination marketing organizations, sector associations, attractions, accommodations and individual tourism operators (some limitations apply).
How can BC tourism businesses access PRIZM?
Process: Interested BC tourism organizations can contact Destination BC at TourismResearch@DestinationBC.ca
to express interest in becoming a PRIZM sub-licensee and/or commissioning a PRIZM analysis. Destination BC’s research team will follow up to understand your business objectives and, based on capacity, recommend the most appropriate approach to fulfill the request.
Interested organizations may also wish to bring their requests to any of the sub-licensees. It is up to the sub-licensees to decide whether they can fulfil the request.
Input required: A visitor or consumer database containing postal codes or zip codes is needed to run PRIZM analysis. If available, the visitor’s origin city name and the date of visit will also help. No names, addresses, phone numbers and emails are required. Data will be kept confidential and will not be shared with other organizations. Destination BC can provide a template letter to assist in data collection if acquiring data from tourism partners.
Cost: The cost of running PRIZM analysis depends on the quantity and quality of data input, as well as the type and complexity of analysis and reporting. As such, interested organizations are encouraged to contact Destination BC for a solution and quote customized to their individual request.
Need more information about PRIZM? Please email TourismResearch@DestinationBC.ca