Denny’s Zinger: Blowing Big Bucks on Big Data? Stick to the 7 Basics.
From a weekly e-letter I received:
"Step back a bit from the fray and you'll see an interesting evolution in the world of data: from providing lists of people or entities that might be prospects, to lists of people or entities that should be prospects, based on something they have done (think sales triggers).
"Now we're beginning to move squarely into what used to be the realm of science fiction: identifying prospects before they have done anything at all.
"We're blazing new trails here, and pre-prospecting (for lack of a better name) depends heavily on lots of input data and Big Data analytics."
The New Data-Driven Dweeb Marketing Algorithm
Build a hugely intricate bot Social Media application—a snippet scraper to vacuum Twitter and Facebook conversations. Then assign these minutiae to individualized e-WordClouds and expect riches beyond the dreams of avarice!
A better idea.
Use the 7 elements of individual data proven effective over many years of catalogs and direct mail:
- Name, address, etc.
- Email address.
- Can this prospect afford your offer and pay promptly?
- Psychographics/behavior: profession, hobby, interests.
- Proven history of distance buying (e.g., catalog, digital, TV and/or snail mail).
Then make a doozy of an offer.
Takeaways to Consider
- "It's the offer, stupid!" —Bob Hacker
- "The right offer should be so attractive only a lunatic would say no." —Claude Hopkins
- "If you want to dramatically increase your response, dramatically improve your offer." —Axel Andersson
- K.I.S.S. (Keep it simple, stupid!)