For most marketing professionals, creating segmented lists isn’t a novelty, it’s commonplace. However, the growth in data as a resource for more targeted marketing campaigns has resulted in new ways to utilize segmentation on extremely detailed levels. This practice is called microtargeting, and the purpose of this practice is to develop marketing messages that are highly relevant to unique groups of customers.
Don’t put the cart before the horse
The only issue with creating high-powered segmented lists is data quality. While it’s entirely possible to collect a massive amount of data in today’s digitally-oriented business world, there are still lingering questions over the accuracy – or even the value – of a vast ocean of consumer information.
A key element of using customer data to perform in-depth segmentation is to first clarify the expected end results. This is good to identify beforehand so that businesses don’t find themselves in the sticky situation of only focusing on the data that fits their preconceived objectives. For instance, using information drawn from social networks, website activity, geo-location, transactions and direct feedback can run the risk of creating correlations where they may not actually exist.
Say goodbye to generic marketing
After taking the end result into consideration, such as lead generation or nurturing, it’s important for companies to identify a specific goal within the particular audience they’re trying to reach. Take for example, using target marketing to generate leads. According to Target Marketing Magazine, audience targeting can reach shoppers who are just taking their first steps. With audience targeting, you can introduce products or services to individuals who have a specific interest. Rather than push sales, you can design ads that build awareness of your brand, your store and your best products. Pique interests by advertising what makes what you are selling more appealing.
To further the point, Entrepreneur points out that it’s also important to make sure you’re thinking about what your customer wants instead of trying to change your customer to fit with what your company wants. Being customer focused is the key to success with all forms of data-driven marketing.
First things first
The one component that everyone agrees on is that a guaranteed strategy to miss out on connecting with individuals and wasting money while trying to target specific groups is having the wrong contact information on marketing messages. This makes address verification software and other data cleansing tools an essential part of any direct campaign. Regardless of the depth of information a company has about a specific customer, a misspelled name or address almost ensures the message won’t hit the target.