| VOL 2 NO 8 |  |
| Let business intelligence supercharge your marketing
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It doesn’t seem like that long ago (or does it?) that gas was $1.00/gallon and you could fill up for under $20. These days, we’re focused on improving efficiency – making that tank of gas last as long as possible through every means available. And rightly so. But are you thinking about your marketing with the same mindset? What do you have at your disposal today that can increase the “gas mileage” of your marketing budget? One answer: information about your customers and your prospects. Most companies we talk to are pleasantly surprised to discover how much they can learn about their customers and prospects by using some different techniques to extract meaningful intelligence from often unwieldy customer files. Consider the case of the hearing aid, something that a lot more people need than are willing to buy. After all, who wants some goofy thing sticking out your ear, advertising your declining age and faculties? One marketer of such devices, however, gained insight from market research that indicated if they offered a device that mimicked the appearance of the trendy iPod, they could lure the reluctant first-timer into the category. Good insight, but it didn’t exactly come from a brainstorm in the shower. It came from persistent digging into what was really keeping the prospect from pulling the trigger. Business intelligence is a great little “fuel additive” that can supercharge your marketing budget’s mileage. Start with gathering information, using any number of qualitative and quantitative approaches, then combine that information with your own data (and other outside enhancement resources) and test what you learn. When you’ve got desirable results, roll it out and reap the rewards. So tell me – are you prepared to drive your business more efficiently? |
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