6 Ways to Use Precision Marketing to Acquire and Retain Customers
Now for the good news: There's a practical and achievable way to combat this problem and re-engage marketing relevance by employing a "precision marketing" framework. Precision marketing is the means of sending the right content to the right person at the right time via the right channel(s). Smart marketers understand that inserting rich insights and scores of data into messaging provides them with a concrete foundation in order to achieve true customer engagement. These marketers will leave their competition in the dust, as time and time again relevance has been proven to drive revenue. The following six-step process will yield lasting and positive outcomes through its data-driven, insight-based structure:
- Determine objective: Decide on customer acquisition, retention or reactivation.
- Gather data: Use in-house data, collect data or buy data externally.
- Analyze and model: Extract insights from the data; outsource as needed.
- Strategize: Design your campaign targets and messaging around the insights you've gleaned.
- Deploy: Run the campaign as test versus control.
- Measure objectively against your campaign goals; compare and contrast test versus control results; append data and repeat the process.
Accessing, analyzing and acting with data at the forefront is a powerful path forward to achieving relevance. Marketers who want to gain relevancy quickly should start with an initial campaign and objective (e.g., acquisition, retention, reactivation), along with in-house data. By performing simple analytics on this data and around the campaign objective (you can outsource this step), you can determine the right targets and the right messages per target for your campaign. Set up the campaign to run test versus control, where test is your data-driven targeting and messaging while control is your business as usual, then measure the results.
Customer-centric marketing is no longer optional; it's become a requirement. Marketers need to adopt precision marketing to remain sustainable and successful. As with all things worth pursuing, precision marketing is a journey. Every journey begins with the first step. A precision marketing, measurable, results-driven approach — across industries, geographies and solutions — indicates that this is one very worthwhile and profitable adventure.