As marketers, we are surrounded by data. From in-house customer information to third-party data that rounds out customers’ demographic and behavioral profiles, we have more data at our fingertips than ever. According to InvestPro, brands that use data-driven marketing deliver between 5x and 8x return on their marketing spend.
How do you become one of them (if you aren’t already)? You may be personalizing your direct mail and email with people’s names, tailored offers, and even customized images and text, but not getting those kinds of numbers. What’s the secret? Think long-term.
Marketers are often focused on immediate results. Knowing the ROI on that direct mailing is important. However, marketers who get outstanding results create campaigns that are consistently reaching prospects and customers based on their data. They know that keeping and building relationships with customers yields higher profits over time than quick-hit campaigns.
To get the kinds of numbers reported by InvestPro, use your customer data to create a fully personalized experience based on their preferences and behavior.
Say your data shows that a high percentage of your customers are stay at-home or work-from-home parents with school-aged children.
To get them to make a purchase, you can send them a personalized offer based on how many children they have and their education level so they are more likely to act. You can enhance your existing data with these types of demographics in order to achieve this approach.
When analyzing your data, also think about what patterns it is showing you. If they are home more and close to a physical location, add a personalized map to the nearest store. Do they need additional items to help them with new challenges that their lifestyle presents such as home office items.
Salesforce has found that 70% of buyers say that a company’s understanding of their personal needs influences their loyalty. So use your data, not to match products to buyers, but to understand your buyers instead. Use what you learn to communicate that you genuinely care about their struggles and that you’re there to help. Once buyers feel that you “get” them, your relationship will move from transactional to engaged—and your ROI will soar.
