How-to use Analytics

March 17, 2010

Optimize your lead generation, segment your prospects according to who’s buying the product

Filed under: Uncategorized — bankfield @ 2:54 pm

Consider getting customer lists from your sales history, reward program memberships, and club memberships. Run contests to gather names from people who live in a geographic or demographic area or get lists from complementary businesses. While you are gathering names, try to gather information about each person; later on you can prepare specific messaging for them.  If you purchase or rent a list, pay special attention to whether or not there’s data about each person available.

The point is, with such extra information, you can use Excel to sort and filter the list. This lets you prepare more focused messaging.  There are many benefits: You’ll save a bundle in postage and email costs.  And, the people who get your message will identify with what you are saying better, so you’ll get response.

Filtering means removing people from your lists based on some criteria such as location or age-range. You can’t sell snowshoes to people in Florida no matter how well you’ve crafted your message. And, if they are senior citizens, they probably won’t go for it either.  So you need to filter the data to get the best results.

To get better use of out your list, explore your corporate data to find out what’s important. You can run surveys or query your customer database.  Prepare a query that tells which kind of customer bought the most of certain products and services, and you can create a promotional campaign with a focus on that product or a complementary product. You need to find out which attributes are the ones found most frequently in purchases.

Then, those attributes should become the filters of the prospect list. Technically, you can bring your customer data from your database into Excel, or export data from your favourite CRM application into Excel. From there, you can use Excel to do the filtering and sorting.

Working with two lists, merging and filtering each one, is not easy so you might want to consider a supplemental product like Nextanalytics.

Many marketers already know the significant attributes of their best prospects. But it’s nice to see it proven in the data, especially if you have to make a business case for your marketing efforts and budget. There are plenty of instances when a company thought it knew what the customer would buy this year when really all it knew was last year’s trend.  

The bonus is that, after the campaign is over, you can repeat the analysis to see how well it applied and improve the next campaign.


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