$137.8B U.S. ad spend for top 200 advertisers
In my previous post, I outlined the importance of having good data. In this post, I will be focusing on how to use good data to execute a clever marketing campaign. It all starts with knowing your customers.
Know your customers’ needs:
Knowing your customers is first and foremost. By knowing what they want and what lights their fire, you can deliver the right message and products and solutions to the right customer at the right time. Filter the data to understand your customers and their needs:
- Who are your customers?
- What do they want?
- What are their biggest challenges?
- What products have they purchased or own?
- How do they purchase and how often?
- What channels do they purchase from?
- Are they the ones who are making the purchasing decisions?
Segment your customers
According to a news article in Target Marketing, 41% of consumers said they would consider ending a brand relationship because of irrelevant marketing – and 22% already have. Further, with 200-plus billion emails sent each day, 97% are simply ticked off as spam.
Your customers are unique, so why lump them into one homogeneous population? They should be segmented into distinct groups with distinct needs, based on company size, products, services, challenges, purchasing behavior, budget, revenue opportunity, etc. Rather than sending a mix bag of messages that might not resonate with your customers, you can segment your audience and craft meaningful messages to the right audience with the right offer. This will increase the response rate by personalizing your communication.
Deliver the right message to the right customer
If you look at your decision-makers, they will consume and digest information differently than your typical buyer. For instance, an email will most likely never reach the C-suite because they have gatekeepers in place to monitor and filter that information. Just because you add more channels to deliver your message doesn’t mean it will increase your chances of reaching them. Plus, their pain points are much highe-level than the average guy or gal who is working in the trenches. Their business impact will be more focused on revenue, performance and market share, while your buyer is focused on operational efficiencies, total lower cost of ownership, etc. This is where your content marketing comes in to build customized content to meet and deliver on the customers’ needs. It all comes down to delivering the right message to the right customer—using the right marketing vehicles— from email, direct mail, video, digital, social, etc.
Target your strategic accounts
All customers are not created equal. One customer may be in your revenue wheelhouse while others may fall short. Segment your customers by target rating—from the most favorable to least and which accounts you can influence in a timely manner. Work with your sales team to understand who their strategic accounts are, and create a separate strategic accounts-based approach that could have an impact on your sales pipeline. Identify top strategic accounts within each industry that will have a strong impact on your revenue, key decision-makers, business challenges, drivers, etc. Then build a highly targeted marketing program to deliver on revenue generating opportunities.
Treat these accounts as a priority in your marketing efforts and create a separate strategic accounts approach. This means getting good data through research, identifying your audience and doing the research for these accounts to build custom collaterals and content that are specifically targeted to their business challenges and needs and outlining how your company can help deliver on those needs.
Clever marketing is as successful as your data and message. To succeed, it’s about knowing your audience and their needs and segmenting them based on priority and revenue opportunities to build a profitable program.