Precision Marketing 101, Or How to Find Out Your Client

At present time most online buyers have the opportunity to implement an optimal choice of items, guided by its quality or cost. In such a competitive environment, the struggle between brands is exacerbated. Ultimately, a company that could offer the best deal to each of the consumers wins.

In addition, the results of recent studies indicate that it is much more profitable to invest resources in business development, rather than buying new enterprises. Therefore, firms should pay more attention to generating unique customer needs to stand out among other players in the economic arena.

What Is Precision Marketing?

Typically, the term “precision marketing” is the means of strategic tools through which experts analyze the interests and patterns of behavior of separate social cohorts. Such a specification of requirements allows companies to use communication channels more efficiently.

Imagine that your online brand is aimed at middle-class housewives. According to the precision marketing tactics, to meet the tastes of the latter, your promotions should focus on kitchen accessories and household items that facilitate their daily work. And on the contrary, if your audience is bikers, it is natural that their preferences will differ significantly from the first group.

Despite all the availability of understanding, precision marketing is quite complex in application. Therefore, there are several technologies for its successful adaptation:

Optimove allows you to work with large amounts of information related to personal preferences of customers. Such detailing helps specialists to establish a strong emotional connection with consumers and increase the inflow of income.

Sysomos is a system that collects data from blogs and social networks for a better understanding of clients. Social platforms are gaining popularity, and almost every person uses them for conversation, advertising or evaluation. With the help of individual mailing, you could stay in the trend.

Your team will understand the motivation of necessary target audience from their daily correspondence. For example, a particular person can be a football fan, a progressive scientist or a supporter of communism. Depending on the information received, adjust your strategies.

Silverpop is a resource, providing specialized newsletters for specific customers via e-mail. It's so thoughtful that the frequency of clicks on your newsletter will increase noticeably. Silverpop helps to clarify the effect of “mail tactics” and maximize possible benefits of e-commerce.

So, among the key benefits of precision marketing are knowledge of own target audience, detailed customer needs and rapid response to their changes, as well as the opportunity to create a basis for long and fruitful cooperation.

Use Precision Marketing to Acquire Customers

In order to achieve the customers’ favor, companies must make careful efforts and concerted actions. At the same time, a businessman is obliged to think not only about attracting new buyers but also preserving the loyalty of the “old” ones. Precision marketing is focused on the latter. It does not use advertising tricks or bright ads, it just works with information.

To this end, the consumer market should be segmented, i.e., break it into smaller, more specific elements. Blocks may be wide, for instance, only men, or narrow, like men under 35 with two children. Often online shops ask customers about their age, sex, lifestyle when registering a purchase. All collected data must be stored in own databases and sent to marketing teams for analysis.

Subsequently, firms offer customers so-called loyalty programs, tempting free or exclusive goods. Their goal is to cause a sense of appreciation in the mind of the buyer and make him or she believe in own importance for the company. Thus, Virgin Airlines applies a multi-level system of benefits, which provides for an increase in reward at each subsequent stage. The akin scheme supports the interest and excitement of clients, encouraging them to give preference to this airline.

Patagonia has taught its customers to sell old clothes via the Internet. Such a maneuver created an image of a socially responsible structure. The company GrubHub in a game form conducts the action with a free food game throughout the year, which encourages buyers to stay with it.

Another effective way to “make friends” with the consumer is to send the correct content to the right addressee at the appropriate time through adequate communication channels. It's no secret that many Internet users, spoiled with spam, tend to remove unnecessary message as soon as possible or completely unsubscribe. Marketers use information from the client's personal life, obtained by surveys, to create an “original” letter.

This strategy helps to reach the buyer. But in order to increase the relevance of the approach, one should also focus on the following steps:

  • Determine objective provides for detailed tasks, namely: you seek to attract or retain clients;
  • Data collection per focus groups and surveys;
  • Analysis of the information received;
  • Formulation of recommendations;
  • The approbation of the advertising campaign;
  • Monitoring the results of its implementation;
  • Measure objectively against your campaign goals;
  • Adjusting a strategy.

Thus, precision marketing is aimed at identifying differences in the behavior of different social groups for the adoption of reasonable and tactically verified business decisions. It is the use of these marketing tools that will help create long-term cooperation with customers and ensure their loyalty.