Effective targeting from profiling
The more you know about your customers, the better you will be able to communicate with them.
Profiling your customers will allow you to target your communications to the most relevant groups within your database, at the most relevant time, and with the most relevant offer(s).
An enhanced understanding of your customers is also a sure fire way to ensure you are targeting the right prospects.
By digging deeper into your customers’ characteristics, demographics and other defining criteria – you can use those attributes to fine tune the selection of new prospect data.
Improved customer communications
Using the information you already hold on your customers, insight can be derived to highlight common attributes. These factors can then be used to improve the targeting of your messages and offers to make sure they ‘hit the mark’ for your target audience.
The ROI of your campaigns is increased by running models such as:
- Next Best Action; what you should promote to your customers and when;
- Basket Analysis; customers that buy “Product X’ are good targets for “Product Y”;
- Recency, Frequency, Value Segmentation.
In addition, profiling services can be used to append additional information on your customer data – detail that you may not already hold. This may include information such as:
- Demographics such as: age, gender and geographic variables for consumer data;
- Industry, job role, company size and turnover for business data.
With this additional information, further insight could also be possible, as the information will add a greater depth of knowledge of your customers.
You can also use behavioural analysis to identify the most appropriate times and mediums (email, mail, phone) to use to contact your customers. This can improve success and conversion rates of your campaigns.
Ongoing profiling is also key – behaviours and characteristics change generally and as your product or service develops.
Defining the best prospects
With your ongoing customer communications targeted with appropriate messaging, your attention will likely turn to acquiring new customers.
With profiling you can determine the attributes of your clients to identify similar contacts who have a higher propensity to convert.
In addition, if your audience is fairly wide, you can also define the factors present in your most profitable clients, enabling you to target highly profitable contacts with your prospecting.
You can then better allocate your resources with this insight.
Ensure you focus time and money on areas where you can gain the most long term value.
Recent examples of successful profiling
We recently worked with a charity client who was looking for donations to support their specific cause. Our Insight & Analysis team undertook initial customer profiling which led to a 100% increase in open rates from the initial send.
From here we further profiled those contacts who had opened the email campaign, to further define the audience for the next send. This led to a 180% increase in opens compared with the send prior to profiling.
We worked with another client on a campaign to attract crowd-sourcing investment for their business. Following a profiling exercise, that campaign achieved a 342% increase in Response Rates.
- Do you feel profiling would help you better define your next prospect list?
- Have you successfully used profiling to improve you customer communications?
- What would a 100% increase in response rates do for your campaigns?