Not Just a Shot in the Dark
By Dave Hendricks
Like many marketers today, you have probably heard that Web site banner ads are a dead marketing format.
The next big thing is e-mail marketing. "It's all about customer relationship management, or CRM," you're told: If you don't establish an online relationship with your customers—and fast—your competition will eat your lunch.
So now you're amassing the biggest e-mail list you can manage.
Your goal? You want to try to get visitors to sign up. What for? More information and offers.
Next? Monetize them, perhaps by acquiring individuals' permission to send the infamous "third-party offers from like-minded partners."
Profiting from the E-mail Marketing Revolution?
Now that you have their permission to receive offers from you and your partners, you're ready to start profiting from the e-mail marketing revolution! You've got everything you need to start renting out your names to other retailers who want to reach your audience and sell them things, right?
With visions of sugarplums and easy money, you call your local list broker and tell him or her all about your e-mail list.
But reality soon hits. You have accumulated names, names and more names, but you have no idea how many or why they signed up other than to get your newsletter or to enter your sweepstakes. You don't know what offers or messages they'll respond to, or whether they'll drop off or bounce.
In short, your e-mail customer list, without performance history, has lost its value in today's list-saturated world. But you did what you were supposed to: You created an e-mail list from your popular and relevant site.
So what was missing? Demographics, performance and a successful campaign or two.
If it's all about CRM, then indeed, e-mail marketing is the ideal tool for learning about the performance history of your online customers.
As president of LiveIntent, Dave Hendricks devises corporate strategies and tries to simplify marketing language. Before growing LiveIntent, Dave was executive vice president (EVP) of operations at PulsePoint (then known as Datran Media), where he worked alongside LiveIntent chief executive (CEO) Matt Keiser and ran Datran's ESP StormPost (nka PostUp). A member of the founding executive team at ExperianCheetahMail, Dave began his email adventure at Pioneering ESP MessageMedia. Dave was named one of Business Insider's "Top 100 Technologists" in 2011 and Alley Watch claimed he was one of 15 people "changing advertising" in 2014. He plays electric guitar and you should follow him on Twitter @davehendricks.