Six Steps to Data-Driven Demand Creation
With models in place, look for ways to enhance or to add missing customer data to improve analysis. For example, gathering promotion history, customer economic indicators or even promotional surveys may help your understand your customers more deeply. It will also test the accuracy of models, and help to refine them.
The final piece of the strategy-building step is . . . actually, there is no final step. If the process is not in a continual state of evolution, then it will quickly become extinct. So you must constantly build and refine your models, gauge their performance against reality, enhance data with new information and research, and incorporate all of it into strategy.
Step 3: Feed Demand Creation
Using the insight you've learned from your customer data, you now can execute strategy for demand creation. How an enterprise accomplishes this fete depends entirely on the needs of the business and the expectations of its customers, but here are four basic demand-creation tactics to consider (these examples assume b-to-c sales, but many could be adapted to b-to-b marketing as well):
1. Location-based Event Marketing: grand openings, anniversary sales, clearance sales, seasonal/holiday celebrations.
2. Personal Event Marketing: customer birthday, new mover, life stages, post-buy anniversary, major purchase anniversary.
3. Proactive Touch Points: customer appreciation day, private sale, customer survey, customer reactivation, referral incentive.
4. Reactive Touch Points: thank you (first or major purchase), customer service follow-up, thank you for visiting (location or Web site), thank you for referral.
Step 4: Capitalize on the Value
Marketing alone does not sustain demand - to keep them coming back, customers must enjoy a consistent, positive experience every time they engage with an organization. That means marketers have to deliver consistent value through the storefront, service desk, Web site, call center, catalog, etc.
Delivering that level of consistency means marketing or IT [information technology] departments cannot hide the keys to the customer data vault. For example, consider the value that deeper customer knowledge can deliver in pricing, operations and real estate applications, and you can start to realize the benefits of a scalable, flexible data system deployed across an enterprise.