Ideas You Can Take to the Bank!: Effective Communication
The ability to use field research, such as primary or secondary survey data, to identify insights such as the preferred method of communication and attitudinal triggers is rapidly increasing in the industry. Primary field research costs are coming down, as the ability to gather data via online panels is becoming more sophisticated. Implementation generally consists of matching a terrestrial name and address/geographic designation to a customer and/or prospect database. The survey information is used to create a desired “targeted” behavior, which is then modeled and extrapolated across the entire database.
3. Differentiate yourself. There are many solutions that identify who you should target, so much so that the industry has reached a maturation point with respect to defining and identifying the individuals or households in best customer and prospect audiences. In most mature industry sectors, such as financial services and catalog verticals, marketers are working harder to differentiate their brand and message from that of their competitors. Consumer contacts have risen faster than consumers have migrated into and out of a marketer’s target audience definitions.
For example, if a large fraction of the women’s apparel sector is targeting the 25- to 34-year-old female population with its brand, the consumers in that audience will have received more direct communications than we can fathom before they migrate to another audience definition, such as 35- to 44-year old females.
4. Seek new ways to stimulate response. In targeting practices where one or two responses in 100 mail pieces is considered a success, marketers repeatedly inundate the same audience with the same message—intentionally and unintentionally.
These same marketers are realizing there are greater gains to be obtained by finding other ways to stimulate response from one or two of the remaining 98 people in the target audience, as opposed to focusing on the refinement of an already well-defined target.