In marketing, it’s important to keep your eye on the prize. The prize isn’t the highest sale but the highest sale at the lowest cost.
Would you go to a Costco thirty miles away to purchase a single tube of toothpaste? Why not walk to the pharmacy around the corner? This approach certainly makes sense when reflecting on it but it doesn’t always come as naturally when planning the details of a new marketing campaign.
The “Reach More People” approach doesn’t always mean success. It can certainly help with spreading gossip or during a political campaign but does it always mean that someone wants to buy your product?
I can send 1,000,000 emails and samples to a random group of individuals and find that 200 want to buy a product. At the same time, I can focus my list of 400 of those who answered “Yes” to being interested in our previous campaign and find that 300 want to buy.
I saw a perfect example of this when I went to buy some new clothes last week. You know the drill: you are asked for extensive personal information such as your email address, phone number, the last time you got a physical, if you are lactose intolerant and, well, you get my point.
The figurative light bulb in my head lit up. “Genius,” I thought. For the apparel industry, all the people who purchase from them are the target audience. You’ve purchased before, you’ll do it again.
Sage CRM (SageCRM) helps you take your contact list from unfocused to highly qualified groups and sub-groups. You can sift through your customers and prospects and put them into smaller, smarter containers.
After your campaign is launched and you have contacted everyone on your initial list, you have the ability to attach a response to a particular person. For example, if Sue calls and says that she is interested in your product but doesn’t have authority to buy until year end, you can mark her response as ‘Contact in 6 months.’ After 6 months have passed, Sage CRM will notify you to contact Sue, and any other client with this response, as originally requested. You may have another client that chooses to ‘Buy Now’. Maybe a couple clients say they ‘Already Own’.
Having these sub-groups may seem like more lists than you think you need, but they’re getting you closer to the department store example provided above. These groups give you more focused sub-groups to use in future marketing campaigns.
Although you may not find the ‘Already Own’ group of contacts beneficial in the initial campaign, when you launch subsequent campaigns, you will find this group to be high value.