“How Technology Has Made It Easier Than Ever To Measure Your Best Performing Customers And Use That Information To Get A List Of People Who Are Scientifically Determined To Have The Highest Probability Of Converting Into Your Customer”
You no doubt know, technology is changing the way we do business in many ways.
But, did you know technology can actually determine who’s more likely to buy your products or services and can give you a list of those exact prospects names, contact information and even get your business in front of them on their Facebook newsfeed?
This is the age of big data and everything we do, buy, watch, if we’re married, single, what type of car we drive and more is being tracked in a database somewhere. In fact, these databases track 1500+ items (called data points) on each of us.
A little scary as a consumer but very handy as a marketer. I’ll tell you how and why this can benefit your business very specifically, in just a minute.
But first, I want to ask you a quick question.
How many times are you asked for the zip code you live in when you’re making a purchase? A lot, right?
Grocery and retail stores are particularly good at asking this question. Of course, they also have us sign up for bonus cards or whatever other name tag is placed on getting us to give up our information to them, which will automatically give them this information every time we shop in their store and connect the dots as to what we’re buying from them.
But have you ever considered the bigger picture of information that can be retrieved about you with just a name and zip code? Simple enough question right? “What’s your zip code?” What can be gained? It turns out a lot!
Think about this, if your name is David Hawke and you purchase a carton of milk, that’s really all they know. Because if they try to link you to a database, there are likely many David Hawke’s (there are, I’ve checked) listed, so how do they know which one you are?
Now, if they know David Hawke from a specific zip code made the purchase, it’s likely there is only one David Hawke in that zip code and now they know exactly which one to link.
And guess what, now they can check out those other 1500 data points being tracked in those databases on me and not only determine if I’m a good target to advertise to more often, but also what else I’m likely to purchase.
Definitely a good thing to know when you’re spending money on advertising.
But here’s where it gets really good (at least from a marketing perspective). What do you think would happen if you took your entire customer list, all the people who are current customers and have made a purchase from you already and loaded the entire list into one of these databases?
The database could go to work identifying each of your individual customers, find out everything about who they are, what they buy, their homes, what they drive, if they’re married or single, have kids and how many, and of course a lot more very relevant information.
Then it could compare these results and determine exactly what traits or characteristics your customers share and what’s more, which ones are most common to your best-performing customers.
Now, armed with this information, you could get a list of all the people in any geographic region, 100% customized specifically for you, based on your customer list, loaded with people who have the highest probability of converting into a customer for you.
Are you seeing the massive opportunity available here? Big businesses have been using this type of information for years, but now, because of companies like Marketing Velocity, you don’t have to be a multi-billion dollar Fortune 500 company to reap the benefits of this sales generating type of data.
The fact is, it’s not only possible, it’s easy too.
How It Works
You supply us with your customer file. We match your customers against our comprehensive database, enhance your file with demographic/lifestyle/interest data, and compare your customer’s characteristics to the general profile of the prospect population in the regions where your customers are found (or nationwide population at your choice).
During the comparison, we calculate MPI’s (Market Penetration Index (MPI) is a ratio that compares the percent of households in the customer file possessing a specific attribute, and the percent of households in the reference population possessing the same attribute.) to assess market penetration and reveal higher or lower representation of each attribute in your customer portrait. Additionally, Z-Score is used to measure the statistical validity of the result.
The results of the analysis are presented to you graphically and we’ll help you interpret the data.
Attributes showing higher and lower than average market penetration are highlighted and combined into “Best Performers” and “Undecided Prospects” profiles.
Additionally, you will learn how many prospects exist in your trade area that resemble your most valuable or less active customers.
This intelligence can be applied in a variety of ways depending on your goals, including ordering the lists of “Best Performing” prospects we have found for you.
What to do now
Very simple, if you’d like to reach your “Best Performing” prospects with accuracy and less expense, email firstname.lastname@example.org to schedule a 15-30 minute conversation with me so that I can get some basic information from you, answer any questions you may have and if you decide this sounds like a good fit for you, get you up and going fast.
Reports typically take 24 to 48 hours to compile and will give you a measurably more clear picture of your best customers and exactly where to reach more people just like them.