Here’s a quick dose of marketing common sense that has the potential to dramatically improve the ROI for most any marketing campaign… yet almost no one uses it.
Anyone involved in marketing knows that the more targeted you can be when selecting your list of prospects, the higher your conversion rates. This is called matching the message to the market.
Demographics, geographics, and even psychographics are all ways of slicing and dicing a prospect list in an attempt to pair down the list to a group that has the best match for your message. Demographics and geography are the two statistical characterizations that have been used the longest. These involve filtering a list based upon the message recipient’s geographic location followed by variables such as income, age, sex, home ownership, etc. Psychographic variables by contrast, are any attributes relating to personality, values, attitudes, interests, or lifestyles.
These three filters continue to be the standards by which most marketers determine their prospect lists.
Now let’s take things a big step even further.
Consider the following:
Let’s say I sell designer purses. These purses are all made by high-end designers and are quite pricey.
When creating a target list I would probably use the following selects (Please note that I am simplifying this for the example. This list could be drilled down even further in terms of demographics):
Gender – women
Avg Income – $100K+
Geography – I would limit this to larger cities in the US which could be selected by Zip code or a variety of other geographic designations
Age – 25 to 70
Travel – frequently
Hobbies and interests – apparel and fashion
And there are many more.
If we stop there we’ll most likely have a pretty large list with some very good prospects on it. There is some potential to sell some purses to the resulting list. I am not sure what the ROI will be but if my landing page and data collection process on the page are good I will add a healthy number of prospects to my own list, and will sell some purses in the near term as well as in the future.
Now, lets consider just one more important factor:
I happen to be selling my purses via a website.
Does it do me any good to put my message in front of women who do not use credit cards? How about women who do not shop online? Even if they do use credit cards and shop online, how frequently do they do so?
Those are just a few examples of behavioral targeting that can be added to the mix. Think about how much more refined that list would become when you add the behavioral aspects to your list selects.
There are a growing number of behavioral targeting options ranging all the way down to very scientific data research that can asses a site visitor’s intent vs. interest. This is pretty awesome stuff that You should consider adding to your marketing arsenal if you have not already.
Onward & Upward!