Do you really know who your customers are?
That customer database that you’ve been developing over the years can be an amazing asset. But, if you’re like most smaller businesses, you probably have a customer name, an email address and maybe if you’re lucky some additional details like home address, products and services purchased, etc.
The problem with limited information in the database is that the less you have the less you know. The less you know, the more you treat all of your customers the same. Should a 65-year-old woman receive the same offers and communications as a thirty-year-old male? Should a physically active younger person receive offers on arthritis medications? Imagine the ROI on that email.
We recently asked one of our clients to give us the names on their email list. It was quite extensive. This client has over 14,000 names on it. And yes, all had been receiving the same email communications over the years. Through our data visualization partner, we were able to run the database through an analysis and turn the names into deep, insightful marketing information. In fact, we now have the capability to turn a name into 210 different data points. From their age, to where they live, to the value of their homes, to what they buy, to what their interests are etc. Yes, big brother is watching you.
How is this possible? Once we receive a name as well as whatever other information is possible, like an address, the technology reaches out to credit bureaus, online profiles etc. and pieces together an entire picture of your customers. We’re then able to see logical groupings from a 100,000 foot view. Then, we can segment even further to interest, location, age, income, etc. We may find that our audience is primarily 55+, retired, interested in golf and travel. Well, now we know something to make an entirely more relevant communication.
Where we used to have one segment (everyone) we may end up with numerous. Then we can test each segment to see what communications move the needle as each segment will respond differently. This is how we can begin to move marketing from an expense into an investment.
Make 2012 the year you get closer to your customers. If you need a little help, give us a call.
Hot Stone Communications
ROI communications for health, beauty and wellness brands