Fluctuating economies often force highly competitive industries to reevaluate their customer acquisition methods. The “save first” phenomenon, the new consumer mentality, is understandable but it could potentially put a crimp in desired sales. The advent of the savvier, more value conscious consumer is placing a renewed emphasis on audience-specific targeting as a means of driving revenue increases within the industry. Audience-specific targeting is particularly effective because it identifies and attracts prospective customers who have expressed interest and show a high propensity for customer conversion.
Acquiring the right data is essential for driving results before, during and after the program. Advertisers need to first establish who their primary target audience is and how they want to engage them (Call Center, Postal Mail, and email) in order to implement a plan for growth and efficiency. This is where creativity meets communication. Customer Relationship Management (CRM) initiatives like user-friendly surveys and opt in sign-up forms can help steer programs toward the right target audience based on age, location and behavior. The more you know, the more likely it is that you can provide the right message to the right consumer, ultimately increasing your conversion rate.
Also, messaging has to be relevant. To maximize their marketing spend, advertisers should leverage a data acquisition program experienced in driving results across a wide range of verticals. Taking this approach will alleviate targeting concerns mainly because the program has shown it can deliver pertinent messaging while disqualifying customers that do not fit your desired demographics.
Obviously messaging is vital but having robust technology in place to maximize deliverability, efficiency and validation is also essential. Advanced tech fortifies your CRM efforts not only building your database of engaged users but categorizing them as “New to File” eliminating waste from your program. This streamlines your re-contacting strategies and ensures that consumers who have responded to offers will no longer receive emails. Too often, marketing efforts are concentrated on the potential customer, not existing consumers who have been loyal to a brand. This step will help build confidence with your current database of users and properly organize new consumers.
Economic uncertainty makes continually hitting your target map of potential customers extremely important. After all, consumers aren’t the only ones who have to be mindful of spend.