Customer Profiling – Do you know what your customers look like?


Profiling and segmentation are needed to target marketing campaigns, evaluate market potential, develop sales and new areas, identify where to locate new outlets, identify hot spots to target sales effort, and to help you customize your communications in terms of improved relevancy to increase sales.

Profiling your customers in essence refers to identifying the characteristics that differentiate your customers from people who are unlikely to ever buy your product or have need of your service. It goes deeper though to differentiate your best and most loyal customers, those that buy more frequently have a higher value from the rest. Not all customers are ideal some will purchase infrequently, won’t spend a great deal of money or will have little loyalty, yet will take a lot of your selling time. Knowing who to target is essential.

One approach to profiling is to first segment or group customers by their value to your business, then use critical data, census, lifestyle, market, business/consumer, and geo-demographics to expand segmentation and customer understanding. To do this we first statistically analyze customer trading data to determine how much people spend, how often they buy, what they buy, where they live, their life stage, what attracted them to your company, etc., then compute a score to identify your ideal customer.

Using the ZIP code, we add external profile data which allows us to accurately describe what your best customers look like. Then, using geographic analysis techniques, we can position your existing customers on a map to identify where geographically to find more of the same ideal customer.

If you are planning a product launch or thinking of expanding into a new geographic area, by applying some mathematics you can take into account of known competition and the brand life stage, we can estimate what a specific geographic area may deliver in terms of sales potential.

Territories created in this way will deliver economic benefits, and prevent territory cross sales. If you operate a location based business model, then choosing the right site to open your outlet has as much to do with the demographic profile of your customers as it does the physical location of the store.

With accurate customer profiles and people or businesses grouped by segment, the right analytical resource, tools and data including competitor locations, traffic patterns, parking, high target market density you will be able to determine how many stores you can open in an existing market, where you should expand your network, and which stores should be closed or consolidated.

You will also be able to select the business locations that are profitable and contribute strongly to your overall network. Perhaps most importantly, customer profiles enable you to target the right people using the right media and channels to get across your marketing and sales messages in an effective way at a minimal cost.

Natimark uses critical targeted data to effectively measure, predict and optimize your results to increase your ROI. Call us today to find out how we can customize a strategic targeted marketing plan based on accurate, real-time predictive data that is relevant to your business. Visit Natimark.com.

The power of current customer retention

Every business needs new customers, but don’t ever forget that the easiest and most cost effective source of new revenue is your loyal customers who already know your company. Acquiring new customers is expensive , in fact five to ten times the cost of retaining an existing one, and the average spend of a repeat customer can be as high as 67 percent more than a new one! So make sure your salespeople know that coming up with creative ways to sell more to your current customers is just as important as acquiring new ones.

Think lifetime value, not transactional value. To keep customers coming back to offer a deal that they cannot pass up, so you may not make your profit on the first sale, but you will make more in the long run, and your customers are impressed enough with your commitment to service that they become customers for life.

Go for an upsell. If your customers are interested in your products or services, chances are they will be interested in upgraded products or services you offer as well.

Offer complementary products or services. Put a little thought into what your customers are buying and the other needs that those purchases might trigger.

Stay in touch. Sometimes you may not see your best customers as often as you’d like, so you need to work extra hard to keep yourself on their radar screens. Have your sales people contact customers by phone, email, and even personal handwritten notes, but not trying to sell them anything, just letting them you’re available for anything they may need. Just make sure you know what method of communication your customers prefer.

Practice the art of the perfectly-timed deal. Help your customers sell more to their customers. If you’re selling to other businesses, the best way to get more revenue from them is to help them increase sales to their customers.

Remind customers of everything you offer. Never assume that even your most reliable customers are completely aware of all the products and services you offer: you need to remind them regularly.

Create incentives for in-house referrals.

Give customers a say in what you sell. Encourage customers to comment about their experience with you online. It can encourage a high level of customer engagement with leads to repeat sales.

Put a guarantee on it. If you don’t deliver, they don’t pay.

Loyal Customers start with loyal employees. Word of mouth about what a great company you are can go a long way.

Gain knowledge of the competition. The best way to differentiate yourself as a leader.

Natimark uses critical targeted data to effectively measure, predict and optimize your results to increase your ROI. Call us today to find out how we can customize a strategic targeted marketing plan based on accurate, real-time predictive data that is relevant to your business. Visit Natimark.com.

Google+ – Is it a plus next to Facebook and Twitter?

Google’s ride to fame has been a bit bumpy since the network’s debut, but the integration of all things Google makes Google+ much more appealing for users and businesses alike. Launched in June of 2011, as a social networking and identity service, Google may have made the mistake of telling the community of how they should interact, instead of letting the users decide, but Circles and Hangouts are slowly starting to make more sense to more people.

In fact, more and more brands are staking their claims on Google‘s social network, signaling that Google+ is becoming a social marketing staple along with Facebook and Twitter. The latest readings come from BrightEdge, a search engine optimization firm for large brands. According to the company’s new SocialShare Report, three-quarters of the top 100 brands now have Google+ pages, including new arrivals Visa, Hermes, and Wells Fargo. That’s approaching the brand participation on Facebook, at 90%, and Twitter, at 80%. The number of people following the top 100 brands grew 54%, which was reported as recently reaching 12.2 million on Forbes.com

But the fact remains that there are still far less followers of most of the top brands on Google+ vs. Facebook and Twitter. H&M, for instance, leads Google+ brand with 1.3 million followers, but that’s tiny compared with its 11.6 million fans on Facebook. In comparison, Facebook has 481 million fans of the top 100 brands.

So is this a reason not to jump on board with Google+? Actually no, because most brands are now on Google+ even though their fans aren’t yet, and a k key reason is that merely being there appears to help brands show up more prominently in search results. BrightEdge says 30% of brands with Google+ pages show up on search results when people type in their brand name, so it’s obviously clear that brand managers feel they must have a presence on Google+ if they want to show up more often in search results.

Natimark uses critical targeted data to effectively measure, predict and optimize your results to increase your ROI. Call us today to find out how we can customize a strategic targeted marketing plan based on accurate, real-time predictive data that is relevant to your business. Visit Natimark.com.