Knowing Your Customer Means Understanding Them.
It’s no secret in today’s multi-device environment, we’re consumed with product and service messaging at a higher frequency than ever before. If you’re anything like me, you’re exposed to countless cross-channel offers that seem to follow me across each device I engage with. The problem (as I stare at my two computer screens, a tablet to my right and cell phone to my left) is that out of all of these communications, there may be 10% that actually resonate with me from a personal or professional perspective.
Digital marketers are spending billions annually to reach their best customers and future prospects across multiple channels and by all intents and purposes, are succeeding at the spray-and-pray approach. The fundamental problem here isn’t with the strategy to achieve “reach”, it’s simply the identification of the audiences that are targeted to achieve that “reach”.
As an example, on the surface it may seem great that you were able to announce the rollout of your brand’s newest luxury SUV (that starts at $75,000) to 90% of the consumers in the U.S. who are in the process of buying a car. One small issue here, less than 10% of those actually have the demographic, psychographic and credit characteristics to qualify. If ROI is the benchmark for determining the success or failure of your campaign, those pats on the back you’re feeling are most likely your own. You see the point.
With the abundance of data available today, truly understanding your customers from a demographic and lifestyle attribute standpoint is not only possible, it can be simple. This coupled with how they engage across multiple devices and multiple channels, provides the opportunity for tremendous and measurable success. Not only will this drive toward achieving your ROI goal against current customers but will allow you to prospect new ones in a more efficient and effective way.