Choosing relevant demographic selection criteria becomes more difficult as the amount of data increases. The complexities of the patterns increase, both with the number of customers being considered and the increasing detail for each customer. The past few years have seen tremendous growth in consumer databases, so the job of segmenting prospective customers can be become overwhelming if you do not know what you are looking for.
Data mining can help this process with customer acquisition, but you need to combine the potential customer list that data mining generates with offers that people are interested in. Deciding what will be a successful offer is where the true art of marketing comes in.
One of the differences between customer acquisition and most other marketing applications of data mining revolves around the data that is used to build predictive models. The amount of information that you have about people that you do not yet have a relationship with is much more limited than the information you have about your existing customers. In some cases, the data might be limited to their address and/or phone number. The key to this process is finding a relationship between the information that you do have and the behaviors you want to model.
Most acquisition marketing campaigns begin with the prospect list. A prospect list is simply a list of customers that have been selected because they are likely to be interested in your products or services for example, new parents, retired people, new car purchasers, etc.
Sometimes, it is necessary to add additional information to a prospect list by overlaying data from other sources which can be as general as city, state, or Zip code fields. More complicated overlays are also possible, such as customers can be matched against purchase, response, as well as other predictive detailed behaviors.
Natimark uses critical targeted data to effectively measure, predict and optimize your results to increase your ROI. Call us today to find out how we can customize a strategic targeted marketing plan based on accurate, real-time predictive data that is relevant to your business. Visit Natimark.com.