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Marketers, Do You Really Know What Your Target Audience Wants?

Marketers, Do You Really Know What Your Target Audience Wants?

Jan 21 2014, 2:09pm CST | by

Yesterday was Martin Luther King Jr. day in the US. This article was inspired, in part, by his efforts in giving the world so much hope and optimism. He gave his supporters exactly the kind of...

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36 weeks ago

Marketers, Do You Really Know What Your Target Audience Wants?

Jan 21 2014, 2:09pm CST | by

Yesterday was Martin Luther King Jr. day in the US. This article was inspired, in part, by his efforts in giving the world so much hope and optimism. He gave his supporters exactly the kind of leadership they needed to make change. So you might say he knew what his customers needed, and gave it to them.

Are you giving your customers what they want?

Or what you think they need?

Data driven marketing, as mentioned by Forbes contributor Lisa Arthur, has been around for years.

But are companies even using their customer data to pivot and give them what they want? I did a brief survey across many different fields and disciplines to find out.

Four companies using some kind of customer data driven marketing, tell us how they’re doing it in 2014, and how it’s working for them.

In the B2B space, the word ‘nurturing’ was the most commonly used phrase amongst all the companies I surveyed when it came to using customer data for marketing. For example, Dave Chase, Partner at Advanced CFO Solutions, an outsourced CFO company in Utah says, “We recognize the multiple value streams from our invaluable customer list.  As a result, we use our integrated CRM and marketing tools to enhance our bonds by informing, educating, and nurturing those relationships.”

Predicting what your customers may need is an excellent example of data driven marketing. Anthony Lopez, CEO of Metro Traffic School, an online traffic school in Florida talks about predicting what his customers want. He says, “For our multiple DUI offender clients that have already completed a course with us and we know they have a revoked driver’s license we inform them of a Supervision program we administer where they may qualify for a restricted driver’s license so they can drive to and from work , medical, church, etc.”.

Gregg Snyder, President of US-based Answering Service United, knows customers like to talk to a real person when they call a business.  He has helped many businesses – big and small – capture more leads with his answering service.  Snyder explains, “Many times a client tries our service, and they are often shocked to discover  how much business they were losing  because their calls were going to voicemail when they were unable to answer.”

Most voicemails do not keep track of the callers that hang up and do not leave messages. One would think this kind of tracking would come standard with every phone line. After all, our mobile phones can track missed calls. But something as simple as calling people back is an area that most companies fail at, sometimes spectacularly, according to data from InsideSales.com.

Steven J. Stowell, Ph.D. President & Founder of CMOE follows up with this insight, “Clayton Christensen from the Harvard School of Business says that you have to know why your customer is ‘hiring’ you. Although that statement is true, you also need to think about future trends and changes about who will ‘hire’ you in the future and what the future ‘jobs’ are going to be.”

Ultimately, you strive to be the preferred solution for your customers and to contribute differentiating strengths and capabilities that help the organization compete and win in the market. If you can achieve and maintain this position, your customers will reward you with the cash flow that circulates through and sustains the organization, providing a vital component of the things it needs for long-term health.

Source: Forbes Business

 
Update
2

4 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 per ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double trag ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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