Knowledge-based targeting

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If all those little pieces of information you hold about each customer could come together into a single, cohesive picture, think how much more productive your customer prospecting, marketing and business intelligence could be!

To increase the profitability of your business, turn first to your customer data. Here lies - albeit probably hidden - the route to increasing customer value.

In short, your data can help you win, keep and grow your most profitable customers.

You must however first fully understand your customers and what makes them respond to your offers and trade with you. It is essential to know who are your market audience, how best to communicate with them and also which prospect groups share similar profile characteristics with your best customers.

Then you need to know how to turn this information into the right marketing action to generate the profits!

The Problem

Many businesses and organisations don't fully understand how to best maximise the value from their data, and others - who can see the benefits - don't have the time to investigate or have internal resources of the right skills and experience to make it happen!

There may also be a general lack of direct marketing understanding and hence the need to gain some expertise.

Then there are organisations who may believe they are fully exploiting their data but in reality are using unreliable or incomplete information and only getting a partial view of their customers, always leaving doubt as to which parts of their customer knowledge are incomplete or indeed wrong.

For instance, they might know how much a customer spent last month and what they purchased, but not how profitable they are, what their spend pattern across each of the product groups looks like or what triggered the purchases.

Real Benefit

By intelligently shaping, merging, transforming and analysing your data, you can gain the customer knowledge you need to better understand...

Who to contact, Where they are likely to be found, Why contact them - retention (keep), cross-sell/up-sell (grow), acquisition (win), reactivation (repeat-win), What - promotional offers that attract higher response rates, and the more difficult When, How and How often

...and really increase the productivity and profitability of your sales and marketing effort!

What's needed? Here are some suggested steps...

Make the time to at least explore the possibilities. Each day you delay your business will be missing out on more productive marketing, additional profits and increased customer loyalty. And don't worry if you are short of in-house skills as we can provide the necessary expertise and support. Just give us a call on 01733 890790

Start by defining some SMART (specific, measurable, achievable, realistic, time-bound) business and marketing objectives. i.e. increase sales of blue widgets by £x within the next 3 months, recruit 'y' new customers with the same profile as our most profitable red widget customers by...

Then develop marketing strategies that will be driven by your data. This will require a thorough understanding of your data and your customers. We have developed powerful and FREE 'what-if' campaign calculators to help you develop appropriate strategies. >>>Click here<<< for details.

Clearly you will need to ensure you have a reliable and complete data foundation to plan and execute your marketing promotions, with addresses validated, duplicate records removed and all relevant data merged, enriched and transformed into a single customer/prospect view. And to enhance your knowledge and targeting you will probably need some external data for prospecting, enrichment and suppression

Next you need cost-effective ways to statistically segment and analyse your customers and their transactions every which way to discover changes in behaviour, value, profile... This will enable you to adapt your campaign strategies to capitalise on otherwise hidden marketing opportunities.

To help you visually explore your customers and prospects and rapidly count, analyse, profile, select and extract the right target audience for your promotion, you need the right data planning tool. Ideally a predictive targeting system that will enable you to also score your prospects to pinpoint those more likely to respond to your offer.

To understand what is working and what isn't, you need a reporting mechanism that also provides timely feedback and business intelligence to marketers and management.

And finally, back to the beginning. You need an appropriate marketing campaign planning, development and management resource to translate customer knowledge into appropriate direct marketing strategies.

How Tech4T can help

First - don't be put off by any of the above. Our goal is to make the whole process transparent so you only get involved in the parts you want to do.

If you wish to undertake all or some of the work in-house, we can provide the necessary software, training and support for both implementation and use.

Alternatively (or in addition) we can work on data extracted from your systems and undertake the necessary marketing, data enhancement and analysis processes for you, optionally migrating the enriched customer knowledge into a dedicated on-line data planning and campaign targeting system which we could operate on your behalf.

We can undertake the data maintenance and update process for you, manage and host your data, and also undertake segmentation, selection, analysis, mapping, mailing list extraction, whatever we jointly agree is needed.

And if you lack the internal resources or simply need some help to translate the customer knowledge into more effective marketing campaigns, Tech4T can act as a 'virtual' extension to your data planning, marketing, analysis and IT department - providing skills, coaching, methodologies and project management as needed.

We also work closely with a number of specialist agencies who have industry-specific skills in data-driven marketing across and would be pleased to introduce them as part of the data planning solution.

Data-driven marketing >>>Click here<<<

Take the next step to more productive marketing

To discuss your requirements or optionally arrange a meeting where we can assess your needs, click on the link below and we will get in touch.

Retention (keep), acquisition (win), cross-sell (grow)... in detail >>>Click here<<<