Thursday, April 23, 2009

It's all about them...

From the Desk of Brian Johnson

As I have said many times, it is about your prospects and
not what you like...

Today there is more information about customers than ever
before, and more being generated every minute. And, there
are many ways to motivate them all the way from simply
putting your logo or marketing message on m&m's and
packaging them in a variety of creative ways, to more
effective loyalty programs, to really analyzing all the data
you have and is now available on your customers.

Twenty-five years ago a firm’s assets were in machinery and
equipment, estimated to be about 85% with only 15% in
intangible forms of knowledgeware. However, that mix of
tangible to intangible assets is exactly reversed.

The marriage of the internet with mobile telephony now
allows for a powerful one-to-one channel direct to your
customers. Advances in information technology gives you the
ability to use data on your customers’ transactions to motivate
them in ways never before possible.

A new technique with global implications is called "crowd
sourcing" - asking internet users for ideas of what they
want, or would like to see changed. What a fabulous source
for new product development! Add blogs and social
networks to that, and we have a universe of online focus groups - a
marketer's paradise.

Not only is the internet gathering this type of trend analysis,
it is also allowing for the crunching of data from credit-card
transactions and customer  programs. This can range all the
way from profiling customers based upon what they are
buying to the relationship between cultural variables and
buying habits.

I was thinking more about this while at Marketing Sherpa a
couple weeks ago. As you all probably know we do a lot of
segmenting on our lists. But one of my ‘ah ha’ moments was
the value of segmenting into male/female.

For example, did you know that almost two thirds of women
will select a soft drink with the purchase of their favorite
magazine. And, almost half will read their magazine with
yogurt or a dairy treat.

What if, instead of getting a pack of coupons via snail mail
for a variety of products you don't buy, you were to
electronically receive coupons for products very specific to
your consumption patterns? The effectiveness of these laser-
targeted promotions over the internet can be dramatic, as
opposed to the haphazard direct mail campaigns of the past.
We just did this exact process on the current Jeff Walker
launch and it worked well, as a matter of fact, we were the
number one affiliate.

By collecting and organizing data that we generate
electronically from our credit cards, cell phones and laptops,
savvy marketers can create a mosaic of our behavior and
develop a more granular segmentation of customer types
than ever before.

As I have said many times, successful marketers know their
customers intimately. By studying their changing consumption
patterns they can anticipate their desires, and by delighting
them with solutions to their problems before they know they
have them, they can entice them to spend more money on
their products.

However, you have to be able to capture this treasure trove
of data and use it effectively, as it will unlock the door to the
customers’ mind. It's like unraveling a customer's DNA.
In reality, it is the most sensible way to predict what we will
do next. And, we are constantly spewing forth data about
ourselves that is being captured electronically all day long.
This exploding world of data leads a smart marketer directly
to our wallet or purse.

So the question is - are you mining all the data you have or
that is available to you, so that you can tailor your product or
service offerings to the changing requirements of specific
customer types, and target them more effectively via the
internet? Wouldn't you like to delight your customers with
products and applications to make their lives better?

If you are confused as to how to get started on a more
intelligent approach to analyzing all the data available to you
on customers, or where and how to get more information
on their changing consumption patterns and requirements;
let's start a dialogue.
You certainly can't refute the fact that the internet and
information technology has created a gigantic opportunity to
explore customer behavior like never before. But, are you
participating in it?

Check this out, this is a great webinar from Todd Brown you don't want to miss:


Discover The Secret To Creating
Wildly Profitable Information Products
At Lightning Pace!
Go Here -

Strategic Profits

No comments: