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Increase sales volumes with data driven marketing
1. Increasing Sales Volumes With Data Driven Marketing Learn Customer Behavior And Turn It Into Profit
2. Contents What is data driven marketing? How data driven marketing can increase sales volumes? What it takes? What Argo Team can do for your business 2
3. Data Driven Marketing A marketing technique based on customer data – customer behavior Privacy-friendly – no customer personal details data required Used for decades by large companies and high-profile marketing professionals Thanks to proliferation of IT nowadays affordable/accessible to small and medium businesses Enables successful roll-out of targeted marketing campaigns Average campaigns ROI of customer marketing program stands around 70% (depending on business type) 3
4. Data Driven Marketing – How It Works 4 Analyze Data, Get List of Customers Customer Data Create Campaign Compare campaign results, make corrections Sales Data
5. Data Driven Marketing Ability to predict customer behavior Targeted, read – more effective, less costly marketing campaigns Personalized customer offers Returning customers – repeated purchases You spend marketing money only where necessary, increased ROI Ability to identify the best revenue sources 5
6. Increase Sales Volumes – Some Input Data Different people have different buying patterns Media and method used to acquire a customer have very large effect on the potential value of the customer Experts say 50 to 60% of customer base are one time only customers or visitors Customers on average will buy down in price over their life cycle - the average order price falls over time More active customer – more chance for repeated purchase Number of potential customers searching for goods/services on-the-net is rapidly growing - inventory goes to the net 6
7. Increase Sales Volumes – How To Learn your customers’ behavior Consolidate customer (transaction, visits) data Transaction (purchase, visit, …) data needed only Score customers on their activity Rank them according to their potential value 7
8. Increase Sales Volumes – How To Knowing potential value, you can: Get more customers like the best ones Focus on growing the profitability of middle potential customers Stop wasting resources acquiring and marketing to low potential customers Set-up indicators (“trip-wires”) and evaluate changes in potential value scores Falling scores indicate decreasing potential value - the customer is becoming less likely to continue on as a customer Rising scores indicate the potential value of the customer is rising Find out which customers to address and when Predict when best customers are about to leave 8
9. Increase Sales Volumes – How To Emphasize ads, media, and products creating long term high potential value customers and downplay ones that don't Predict when best customers are about to leave you and react with customer retention and save-a-customer programs Always advertise where the behavior you want to create is. If you want buyers, advertise where people buy (if you want clicks, advertise where people are clicking) Create High ROI marketing programs (average ROI of customer marketing program stands around 70% while there are cases of repeatable 400%, depending on business type) Establish a brand or make it more visible and recognizable If you are not there already(!) - go to the net Manage relationship with your customers – personalized and interactive 9
10. What It Takes The desire to act and to change (data-driven marketing is about continuous optimization and iterative improvement), ability to execute and react Customer (transaction) data – you need to know your (potential) customers and what they do Tools to get you scoring and rating information (from your raw customer data) you can use and ability to analyze and evaluate Knowledge to turn your customer data into profit – to learn you customers’ behavior and set up timely, effective and high ROI marketing promotions/campaigns 10
11. Bringing Value To Your Business Argo Team specializes in bringing additional value to businesses by unlocking the potential of customer (transaction) data through means of data driven marketing Consolidation and analysis of data Setting up and evaluation of customer scoring and rating Recognition of customer behavior patterns Setting up of customer retention programs and marketing promotions/campaigns Evaluation and further improvements 11
12. Bringing Value To Your Business Argo Team provides one-stop-shop for all your customer retention programs and marketing promotions/campaigns needs Consolidation, cleansing and data quality analysis of your customer, sales and inventory data Analysis of your company, industry and competition Setting up of your data driven marketing strategy Setting up of a step-by-step customer retention and marketing promotion plan Implementation of customer retention and marketing promotion plan Graphical design and content creation Targeted personalized Email marketing (including newsletters) Targeted personalized direct mail marketing Ads placement Brand marketing Tracking and evaluation of response 12
13. Bringing Value To Your Business Benefits Increase response rates Maximize the lifetime value of clients Increase repeat sales Increase conversion rates (communicate with buyers most likely to convert to sales) Reduce customer acquisition costs Optimize your marketing budget Increase marketing ROI 13