As modern day consumers we are constantly being bombarded by marketing messages and adverts from thousands of brands all looking to influence our behaviour and generate that crucial sale.
Did you know…
…In one 45-minute journey, the average London commuter is exposed to more than 130 adverts, featuring more than 80 different products. In an entire day, we’re likely to see 3,500 marketing messages. The Guardian.
I can’t speak for everyone but I only want to hear from companies that I am interested in, about products and services that I may want to buy. As a direct marketer I also want to help companies I work with target their customers and prospects with relevant communications that will trigger a positive response and return on investment.
Knowing who to target and with what product and message is key to ensuring direct communications are relevant and profitable.
But where do you start?
Data is king when it comes to optimising campaign response and profitability, so here at Gecko we like to help our clients make good use of their data and to uncover useful insights that we can then act on.
We ask simple questions like…
- What do you already know about your customers?
- What key traits do they share?
- Can you segment them into specific target groups?
- What additional value and understanding can we add to the data?
- How can we use this information to locate and target lookalike customers?
We know proposition, channel and creative play an important role as well, so if you can combine actionable insights from your data with these core elements, whilst harnessing the power of personalisation you’ll hit your customers with a very persuasive marketing campaign.
So how do we do this?
Turning data into insight and then into profit needs to follow a process:
- Collect your data (Transactional / behavioural / external sources)
- Analyse the data (such as recency, frequency and value)
- Gain insights (e.g. find relationships within your data)
- Launch campaigns based on the insights (incorporating tests to gain more insight)
- Analyse the results (Use new insights to enhance future campaigns)
And because consumers are 7 – 10 times more likely to respond positively to well targeted and relevant communication (*dma survey 2013) doesn’t it make financial sense to invest in and follow a well-informed marketing strategy sooner rather than later?