Let’s face it. Finding new customers is essential to meeting our business goals, but it is definitely not the simplest task to check off your list.
Sorting through prospects to find the best one for your business can be like looking for a polar bear in a snowstorm. But, what if all the snow melted away?
Enriched Analytics bring the heat. With enriched analytics, your simple data will be enriched with information to deliver an accurate full picture of your customers. It all works when your company’s customer data is combined with reliable third-party data for your contacts. Furthermore, analyzing your newly enriched dataset will melt away the uncertainties and guesswork and replace them with insights and predictions designed to support your next step in a confident direction.
So, how do you acquire enriched data to move forward with intention?
Look at your current customers. The people who are most interested in your products or services are right in front of you, so knowing what they look like is key to the success of your search. Your current contacts have all the attributes that you should look for in new customers, so it is time to dig below the surface of their contact information and truly expand on their personas. When unearthing a persona, it is important to note that no single insight (be it wealth scoring, channel preference or interests) is strong enough on its own to be the source of your next steps. The data is intended to be paired with each other to define a clear path for your company’s next best move.
Understanding Your Customers
To ensure you are targeting the right audience in your prospect search, the most important details you need to know about your current customers are:
Customer Demographic Information
These details include their predicted generation, gender, education, location, home ownership, marital status, religious affiliation, political affiliation, and more. Each piece of information is necessary to ensure you are paying attention to the prospects that are most likely to respond to your outreach. (Basic Predictions)
This information includes just that, your customers’ predicted interests. They may enjoy sports, watching movies, traveling, underwater basket weaving, or really anything you could imagine. Possessing this information, however, is crucial as you create a tailored experience for prospective customers. (Basic Predictions)
With SMS, Email, Direct Mail, Phone, and even Social Media present as potential channels to reach your customers, it is important to know the ones with which your customers will best respond. Both as an aggregate and on the individual level, these predictions will dictate how you run campaigns and who you target each time. (Advanced Predictions)
Wealth and Spending Capacity
Your customers’ predicted wealth and spending capacity will determine what your customers are able and willing to spend, how you attract your high spending customers, and overall, set the expectations for your business’ profitability. This is critical as you approach new customers to ensure they are more likely to add your product or service into their lifestyle. (Advanced Predictions)
What are My Next Steps to Attract New Customers?
By understanding what your customers look like, where they are located, and how they like to be reached, you are able to convert prospective customers more efficiently and effectively than ever before. And now, you can take the information gleaned for your data enrichment to make a variety of next steps. Some of the most common next steps are:
- Creating a more targeted ad or direct mail campaign
- Use your existing prospect lists to find customers who match your best customers’ personas
- Purchase prospect lists of people with characteristics matching your current customers
It’s easy to move forward with confidence when you are backed by intelligence about your customers. You just need to take the first step in the right direction.
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boodleAI is a Cloud-Based Provider of Enriched Analytics for sales, marketing, and fundraising teams. Enriched Analytics are insights and predictions made possible by matching an organization’s contact and transaction data with billions of third party data points. Sales, marketing, and fundraising teams use enriched analytics to better understand customers and donors, analyze sales and donations, gain insights into specific contacts, and predict what contacts will do. Guidon, boodleAI’s Cloud-Based Software, makes Enriched Analytics available to every organization and every budget through usage based pricing. Visit boodle.ai.