Turn your customers into loyal consumers with Precision Marketing – WAU
Learn in this article everything about Precision Marketing, how it works, how to do it and how to get better results for your company using this strategy!
Currently, the customer is the center of attention when it comes to sales.
And this importance is not for nothing.
New technologies have given great powers to consumers and the Precision Marketing can help your company to enter this new phase!
Before making a purchase the consumer has the opportunity to carry out various surveys, price comparisons, see product and supplier evaluations and, in many cases, he does not even need to leave the house to make the purchase.
This new scenario has intensified the importance of maintaining a good relationship with the customer.
Loyalty also allows a reduction in expenses for the business: the cost of a new customer can be five to ten times higher than selling to those who already know the brand.
With these new market demands, precision marketing aims to increase the opportunities of companies, being also beneficial for the consumer!
What is precision marketing?
Precision marketing is a strategy aimed at those who are already consumers of the brand.
It aims to retain customers, encouraging purchases not from ads, but from promotions, special offers and tactics that make the customer become loyal to the brand by identifying value to it and the shopping experience.
When carrying out a precision marketing plan, the company will use data and information from the public to identify characteristics among customers and target advantages that are most valued by the consumer.
Using generic benefits that were not specifically aimed at the target audience of the business may not deliver the expected results, in addition to generating expenses for the company.
The loyalty programs developed by companies, after analyzing consumer data, consist of what is called precision marketing, since relevant customer information was used to create a type of benefit or action that they value.
How to develop a precision marketing plan?
New consumer behaviors require companies to get to know the public better, allowing several new opportunities to be seized with efficient marketing plans.
Customers are more demanding, but they are also more willing to offer information that makes the relationship with the company more effective and personalized based on their interests.
To create a precision marketing plan that takes these aspects into account, it is necessary to develop certain fundamental aspects of the strategy. Are they:
Audience segmentation is a factor that is closely related to precision marketing.
When segmenting a company’s target audience, the objective is to identify subgroups for which certain actions make more sense and thus direct marketing efforts more efficiently (learn more about personas).
Over the past few decades, market segmentation has been improved in a number of ways and, while in the past only demographic data were analyzed, today an extensive list of factors should be considered, such as:
- Behavioral aspects of the consumer;
- Economic data;
- Consumer preferences;
- Lifestyle you adopt;
- Customer objectives, fears and expectations.
All of this information allowed the segmentation to go beyond gender, age and income as was often the case.
Currently, more data is available for analysis and, therefore, the more detailed this assessment will be.
Data collection and analysis
The collection of customer data can be performed in several ways. In digital marketing, for example, it is frequent to obtain customer data from the offer of unpublished content and materials.
It is also possible for this information to be collected in registration forms on the website, forms for participation in promotions, among other resources, especially digital ones.
After a strategy to collect customer data, it is necessary to analyze this data to offer a more complete picture of the customer profile.
Identify which are the different niches that are already part of the company’s customer list and from this information it will be possible to develop more personalized actions that meet the expectations of these consumers.
Definition of strategy and actions
The strategy that will be adopted in the precision marketing plan is directly related to what was possible to identify from the segmentation of the public, based on the analysis and collection of customer data.
There are several customer loyalty actions, the relevance will be in the value that the customer profile attributes to that action. Some examples of offers and promotions are:
- Loyalty cards that entitle you to a free meal after ten stamped meals;
- Discount tickets on products for those who present the voucher;
- Company card that allows the customer to make discounted purchases and more interest-free installments;
- Accumulation of points that, after acquiring a certain amount, entitles you to a discount or a voucher.
The offer options are several, but it is important to note that, in addition to the financial advantage gained from the promotion, the rules of the differential must be clear and easy.
Otherwise, they can make the consumer see more problems than facilities in the advantage offered.
Precision marketing applied to digital marketing
To have an effective precision marketing plan it is necessary that it be associated with the strategies already used in the company, mainly in the area of digital marketing, which offers several possibilities of combination with precision marketing.
Digital marketing tools
Digital marketing tools can be applied to data collection to improve public segmentation opportunities, the analysis of the information collected and also to the direct relationship with the customer.
In order to collect information it is possible to use, for example, inbound marketing.
It requires that there is already a base of registered customers, but it allows to obtain varied information with a strategy that involves the development of content offers, for example.
For both analysis and data systematization, the use of CRM is one of the most effective solutions.
The acronym stands for “customer relationship management”, that is, it is the place where it is easier to segment customers, access specific information and determine which action can be aimed at a certain group according to consumption and behavior trends.
CRM can be integrated with other digital marketing tools, increasing the efficiency of processes and results.
Since the objective of precision marketing is to help build customer loyalty and encourage consumption based on the advantages offered to the consumer, maintaining an active and effective relationship is essential.
In this respect, digital marketing also acts in accordance with precision marketing. Strategies can be used for both different purposes:
- Reactivate customers who are in the company’s contact base, but who have been inactive for a long time;
- Keep an active customer with offers, information and other approaches that are in line with his profile;
- Perform a effective after-sales service and closer, that shows the consumer that he can count on the company in an upcoming purchase.
Some strategies for carrying out these actions are:
Email marketing is one of the most effective strategies to keep an active customer, but it should also be used strategically to not alienate the consumer.
Only make a contact if it is really relevant to the customer, because if he does not see value in the content he receives, he may want to distance himself from the company.
The strategy can be used to better understand the customer base through satisfaction surveys in order to personalize offers, for example.
The resource can also be useful to forward gift certificates on the birthday of loyal customers or promotions on commemorative dates, among other options that are interesting for the company according to the previously performed analyzes.
SAC 2.0 has become more popular and companies can no longer escape this new reality.
Currently, customers expect fast and effective service not only in traditional media, such as the telephone, but also in other channels.
Many users use the official companies page, mainly on Facebook, for questions, complaints, suggestions etc.
Companies that ignore this advance, imposed by consumers themselves, end up damaging the image before the public.
Serving the consumer more efficiently and giving voice to his needs is essential for companies that want to retain customers.
As we have shown, social media started to be used for service, but not only.
Different media, such as Facebook, Twitter, Instagram, YouTube etc. are essential to create customer relationships.
In these means it is possible to carry out promotions and offers to reach new audiences, but also to positively impact those who already know the brand.
Who should do precision marketing?
Precision marketing is a resource for companies of all sizes, and from a neighborhood bakery to a multinational they can develop customer loyalty plans that aim to make consumers loyal to the brand and also encourage consumption.
In these examples, the difference is in the proportions of the business that will also affect the type of action taken, however, the strategy is useful for both scenarios.
Contrary to what many companies believe, the quality of customer service is a more decisive factor than the price at the time of the customer choosing where to buy and, consequently, of building customer loyalty.
Precision marketing is all about the customer experience during the purchase process, so improve your techniques! Check out the article Sales techniques: how to win a customer? and take a step towards customer loyalty!