Profiling & Targeting
A good profile will dramatically increase your success – no surprise there then! So work with you to identify the businesses you should target to obtain the highest response rate possible. You would be amazed at how many novice marketeers still believe that you achieve a return on your marketing costs by marketing to just about anyone and everyone. So many businesses go pop by using this approach.
The ideal campaign targets prospects that “look” like recent customers who have bought the product you intend selling. By look we of course mean that they have a similar employee size, location, business activity and turnover etc. Or if they are consumers, then have a similar lifestyle, income, location, family size, sex, age etc.
To put profiling into context in terms of the price vs. return on investment – after all its all about making a profit! Profiling will not only increase the chances of success (often between 2 and 76%) but will also reduce waste in terms of trying to sell to organisations that will never have an interest in your product.
The Correct Process
- identify the product you wish to market
- look at the data you have on your customers (who have purchased / used you in the last year)
- ask you data provider to add more information to this list of names and addresses (employee size and business type etc)
- analyse the file to look for common trends and characteristics
- look for prospects who have very close characteristics to your customers
If you don’t want to do this yourself then ask a data house or even ask one of our guys who will recommend you on to someone who does profiling for a living. In return they will tell you who to target, why and even know how many prospects there are in the UK that look like and behave like your existing customers. Marketing to these “look alikes” will increase your chances of selling product to them compared to trying to sell products to just about anyone regardless of if they can afford your products, have a need for it…