Secret of Success
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The secret of success to good, accountable marketing and commercial progress is a dynamic customer data strategy.
Specifically getting the right data on the right people, storing it properly, keeping it up to date and using it intelligently. You then have an extra 'intangible asset' on your oganisation's Balance Sheet.
And in turn, the secret of creating and maximising the value of a customer or consumer database, in terms of profitable revenue generation, is to determine the vital 5Ws of data driven, strategic marketing:
WHO the most valuable consumers or customers are (repeat end-user customers versus occasional versus once only versus enquirers).
WHERE they come from.
WHAT types of people or organizations they are.
WHEN they use.
WHY they buy/use (and why they don’t buy/use more often).
RFV (Recency, Frequency, Value) analysis will give you the low-down on the customer base – the WHO & WHEN, including the 80/20 Pareto equation for your business.
Geographical analysis (and Profiling) will tell you WHERE they come from.
Geo-demographic analysis (Profiling) will tell you WHAT types of people they are. Or Business analysis (Profiling) will tell you WHAT types of organisation they are.
FeedBak-PGA™ (Perception Gap Analysis) will tell you WHY and in particular why they DON’T buy.
Armed with this information, you have the created the foundation of good strategic marketing, so that you can communicate and share the right message with those people it is worth communicating with (having cleaned and enhanced the database first, of course!).
The HOW to communicate is then a clearer implementation process to deliver and measure strategic marketing activities.
The organisations that are good at doing this are at the top of their game.
Think of Proctor & Gamble, Audi, Virgin, O2, Nike, Tesco, Mars for example.
We can all learn from them, and anyone can emulate them by adopting this strategic marketing approach.
Want to see how we can help?
Call Rick Pullan or Richard Organ on 01483 20 20 55 or email firstname.lastname@example.org