Wednesday, December 2, 2009

Customer profiling doesn't need to be expensive.

Today, markets are getting segmented over and over again. What used to work for direct mail or other advertising media have now fractured into ever smaller pieces of the pie. As an example, in the past, if you wanted a cooking show on a broadcast media you could sponsor a show on PBS or possibly one or two shows on commercial TV. Today, you can do broadcast tv, cable tv (multiple channels), the internet will provide instant information on cooking and cooking products.

The issue becomes more complicated when selecting where to advertise or market your products and services. Creating a custom profile can cost anywhere from $5,000 to $20,000 or more. Each profile will help you focus your message which means you can be more selective in where you advertise. More selectivity means higher response rates. Higher response rates will translate into higher sales and higher quality prospect contacts.

The process of creating a custom profile is simple. Taking a sample of your customer list (minimum of 2,000 names/addresses needed no older than 2 years old) demographic data will be appended to each record. If you have social media or advertising media information (how they become a customer in the first place that's an added plus). From here, household specific data will be appended and analyzed based on your specific market. You NEVER want a profile completed using a a larger market area than you actually draw from. (For example, some profiles are compared to nationwide figures.) This skews your profile and will NOT allow you to take into account local market demographic trends.

From here, Market Mapping plus LLC can do the analysis and provide a complete written report on who is purchasing your products and services, where they are located and where to find new customers in your area. An investment of $6,000 may seem high. But, over the course of a year you can save this in wasted advertising dollars going to a market segment that will never enter your store.

Contact us today to learn how a Custom Profile can help YOU reach your intended marketing goals.

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