Top Five Ways of Knowing Customers + Prospects with Big Data
Mike Larkin, national sales representative, and Ted Davies, national strategic manager channel partner, with American Solutions for Business, joined the Greater Des Moines Partnership’s Director of Small Business Resources Christina Moffatt for the most recent Top Five for Small Business webinar, “Top Five Ways of Knowing Who Your Customers and Prospects Are with Big Data.” The trio shared how to get the best messages out there using Big Data and AI advertising.
How Consumers Buy
Larkin outlines the importance of knowing how customers/potential customers buy. Today, 90% read online reviews prior to visiting a business. He says knowing what reviews say is important because those reviews are trusted by 88% of consumers and they will spend 31% more with businesses that have solid reviews.
Getting a snapshot of who your best customers are and finding the lookalikes is critical, according to Davies. He says using website, search, social, Geo-framing/Geo-fencing, AI and mobile location data, as well as other technologies will help a company target prospective customers.
American Solutions for Business targets consumers based on demographic info and where they go in the real world. The following are the most prevalent audience segments:
- Discount Shoppers
- Young Professionals:
Larkin says that they have found that 40% of your marketing campaign success starts with data in the right advertising medium. If you start with bad data, you will end up with bad results. Another 40% of your success comes from differentiating your brand and offering the right price for your product. That leaves just a small portion of your success reliant on the frequency of message and the creative.
Watch the entire webinar below:
Find these tips useful? Learn more tricks on how to maximize the potential of your business through The Partnership’s Top Five series or through the Small Business Resources Hub.