Without using effective models, companies waste money targeting irrelevant consumers and businesses. By mapping and modeling various scenarios and prospects, data lists can be narrowed down to distinct customer profiles. Prospects you identify based on in-house data and modeling are a perfect starting point to help identify gaps and ensure returns.
5. Hasty or Haphazard Results Analysis
You have the results from your campaign—now what? Many marketers will jump right into their next initiative, rather than taking the time to properly analyze their results. They either skip the process entirely or don't incorporate counsel from expert strategists who have the ability to accurately interpret a rich amount of data. Others will focus all of their energies into one effort or campaign rather than looking ahead and mapping out future progress.
Marketing is a marathon, not a sprint. Taking the time to analyze results and adapt future efforts has a significant impact on overall performance. Through the analysis, marketers can refine their efforts by using the lessons learned in the first campaign. Analysis lets you see the bigger picture; it defines how your efforts have affected the company as a whole beyond a particular campaign.
Integrated marketing does not equate to flooding the market with your message. A well-designed, well-researched campaign that is targeted to specific customer profiles may require more legwork, but ultimately saves time and money. Clean data paired with a meticulous analytics process will increase chances of success and result in a model that may work across customer profiles, business units and products.
Don Patrick is the President of Omaha, Neb.-based list and data provider Infogroup Targeting Solutions. He can be reached at email@example.com.