This OpEd entry was born of a question posed to me recently, “How do you discover – and evaluate the level of spend on discovering – new consumer populations whose value to your brand has yet to be determined?”
Connective tissue, the brand that binds us
Historical demographic research, gender-centric marketing, behavioral and psychographic assumptions and the like, are fading rapidly as stand-alone consumer-reach and assessment methodologies.
Instead, savvy marketers are capturing market share by employing a customer relationship marketing (CRM) approach grounded in informed and individualized data-driven content. Brand marketers can now discern a given individual’s preferences – creating a far more direct, deeply engaged, connected, user-centric, needs-based and motivating brand experience for customers.
This deeply preference-driven and personalized connective experience between your brand and your customer mitigates the need to discriminate against marginal database audiences. Now, consumers previously representing nominal value to your brand can be cost-effectively acquired. Furthermore, this capability allows you to connect with those individuals more personally – creating motivated consumers and brand ambassadors that are far more willing to give, buy, or get involved.
Spend less, get more
Parsing and connecting consumer data collected from disparate platforms is necessary to deliver the level of personalization described above. Though a potentially cost-intensive proposition to initiate, the development of a connected CRM platform provides a cost-effective construct upon which future and ongoing campaigns may be deployed.
Massively distributing micro-personalized content via one-to-many marketing instruments allows marketers to reduce spend on broad-sweeping and assumptive marketing research, media buys and approaches – while at once increasing return on customer lifetime net values and engagement at large.
Be trend aware, not trend entrenched
All that said, known consumer trends such as consumer’s flight from surfing via web browsers to the utilization of specific task & tool-oriented smartphone applications, or generally accepted demographic preferences, must not be ignored when selecting an initial media mix. However, current trends and historically based demographic beliefs no longer need be accepted as entrenched fact ongoing. And content need not be delivered in a homogenized manner as a result.
Cultivating new populations and new revenue streams
No longer should we assume that Facebook is the domain of college students, or that a 65-year-old woman isn’t obsessed with the smartphone we denied she even owned, or a 20-year-old man prefers quiet text notifications over a loud email. Dynamically collected and generated data now informs the measure, manner, messages, methods and mediums a given customer prefers.
Consider how you are currently reaching new consumer populations and evaluating their value to your organization. Then consider how consumer-oriented creative coupled with a consumer-connected CRM platform could benefit your objectives going forward.
Image: Vox Efx