Why Combine Predictive and Client Data?
Your client data is the ultimate source for understanding who your customers are and what types of offers will appeal to them. If you look at the pyramid above, you will see that client data sits at the very top. That is because integrating it with the other data types beneath it takes the guesswork out of a mailing profile. It also provides clear direction as to which households, carrier routes, zip codes, or markets you need to mail. The main benefit of incorporating your client data into to our predictive data is that you will you will be talking to your known best customers who are already aware of and interested in your products and services, as well as potential customers in the marketplace that are “look alikes” to your existing customers. This, in turn, will improve your response rates and increase your return on advertising spend.
More on Why Client Data Matters
Advertising to current customers is just as important (and some would argue even more so) than reaching out to potential customers. Research has proven many times over that it costs far more to gain a new customer than to keep an existing one. Growing your business is as much about keeping your current customers happy and engaged as it is an effort to bring new customers to your business.
What if I Don’t Have Client Data?
We just made a big deal about how important client data is to your mailing profile, but what if you don’t have any? Don’t worry. You have options.
We can help you create a customer list. “How?” you may ask? We can use our Impact Postcard (which is trackable at the household level when we perform a redemption analysis using unique barcodes) and perform test mailings based on predictive data. After we have completed the test, we will be able to deliver you a list of everyone who responded to your mailing and which offers they redeemed. All of this can be done in a few mailings and will allow you to increase your return on advertising investment and build the basis of your client data list.
Once we have your initial client data list, we can then expand on that list by adding what we call lookalikes. Lookalikes are potential customers of your business who have similar interests, shopping preferences, and lifestyles as your current clients. In-depth data analysis allows us to identity these people and include them into your mailing profile which will increase the number of people you can share your offers with via direct mail.
What’s the other option? The reality is, we can still create a highly targeted mailing profile based on predictive data alone (referred to above as Micromarketing). Remember that predictive data includes geography, demographics, consumer expenditures, consumer behaviors, and brand preferences. Our Consumer Analytics team are experts at creating a strong profile to give your mailing the best chance possible for success.