In a youth-obsessed world where fresh faces sell products, despite all efforts it’s a cruel reality that fashion models will eventually have to look for a new job. While they may try to self preserve with plastic surgery, Botox and laser treatments, let’s face it – they can’t be models forever. The advertising industry knows that a fresh face can’t be overlooked to sell products, so why should it be different for traditional direct marketers?
Customers are the lifeblood of any business, yet businesses lose anywhere from 10-30% of them per year.
Today’s “always on” shopper makes decisions in every channel – direct, online and in-store. In looking for better ways to sell more products to current and new customers, marketers seek out ways to expand their prospect universe to improve customer acquisition levels. Why? Customers are the lifeblood of any business, yet businesses lose anywhere from 10-30% of them per year. This makes new customer acquisition extremely important to both protect and grow business year over year.
The acquisition challenge is that traditional prospect universe expansion is becoming increasingly difficult. Many marketers have exhausted list and co-op rental names, and optimization strategies. They’ve been using the same predictive prospecting models against compiled prospect data or co-ops for a long time. But these tools, which are based on traditional demographics, are increasingly leading to a decline in good prospect identification and acquisition. We know that in prospecting, there is no customer behavioral data to drive higher performing analytics – no plastic surgery or proverbial fountain of youth.
In today’s multi-channel shopping world, the fresh face of online behavior can’t be overlooked. While direct marketers in self-preservation mode have leveraged traditional acquisition models for years, the reality is that if they do not consider fresh new data and modeling solutions, they will be looking for their next, new job.
So, what can marketers do to overcome prospect universe expansion hurdles with online insight to increase acquisition and ROI?
Meet direct marketing’s fresh new face: online behavioral data and modeling.
Online behavioral data addresses a key challenge of traditional direct marketers: profitable prospect universe expansion. By incorporating online behavioral data (website traffic and behavior, search, demographics, lifestyle data) into offline marketing strategies, marketers can:
- Identify previously untapped prospect universes
- Suppress likely non-responders
- Enhance offline prospecting
Where else do consumers so actively demonstrate their purchase interest and behavior? Where else do we go when we want to learn about something? Anything? We go online. But most direct marketers have not enhanced their offline marketing efforts with online data, missing the opportunity to incorporate online behavior into targeting efforts.
With this fresh new data source, direct marketers are able to:
- Better understand customer behavior across channels
- Refresh their current models
- Develop better models, built from true, multi-channel data
Ultimately, direct marketers will be able to identify new pockets of high-value prospects that traditional response models miss, resulting in an increase in revenues and profit.
Fashion models and trends change, and sometimes that’s for the best, otherwise we might still be wearing parachute pants and slap bracelets. Luckily, you now know what the new face of marketing is and can begin integrating online behavior into your existing customer data today to leverage new marketing opportunities. Discover the new fresh face of direct marketing; learn more about online behavioral profiling and modeling.