Bigger Is Better: How to Scale Up Customer Acquisition Smarter
Response models actually use the target from, for example, a multivariate model, like we described above. This “effective target” is then marketed to, and the responders from that target are then further analyzed and refined into one of the most exacting targets, one which we can project or simulate the lift we expect over the multivariate model.
What does this all accomplish?
The RM solution gets us to a place where we can now identify the statistically validated “ideal” target customer and then back out ever larger populations to target to maximize the number of new customers acquired.
Putting it All Together
The prospect marketing approaches herein often build on one another, and the most effective growth for performance marketers often comes from building on prior learnings and successes. It all begins, of course, with having your data in good order, and having governance and hygiene process that are working.
But to change the acquisition game, getting started is often the hardest part. That generally means having a plan to move from investment, to learnings, to optimization and then to achieving the scale desired. While it’s usually not an instant gratification effort, the approaches described herein can be done expeditiously and with ever-increasing intelligence and efficacy.
So if you're organization is “figgering on biggering” in 2016, there’s no better time to assemble the Data Athlete’s on your team, and focus on proven prospecting technologies we’ve discussed herein. When you do, your customer base will grow “bigger,” and done well, your growth will have increasing mathematical certainty.