Feb 08, 2013
When it comes to targeted direct mail, you'll get the best results if you target the right people. But how do you determine who those people are? The answer is data modeling.
What is data modeling?
Simply put, data modeling involves putting together a list of your customers' characteristics – who they are, where they live, how they shop, perhaps even what motivates them to chose your product or service. Once you have that data, you can either fine-tune how you communicate with your existing customers, or you can use it to reach out to prospects with a similar profile.
That sounds simple enough. But how do you gather that information? And once you have it, how do you synthesize that data in a way that allows you to use it to grow your business? Integrating all that data so that you form a clear picture of who your customers are is a complex task; it requires time and expertise to synthesize the customer information into something useful. Many businesses simply don't have the resources to embark on a customer data modeling project. That's why we created the Click2Mail Look-Alike Report.
What is the Look-Alike Report?
The Look-Alike Report is a tool that allows you to clone your best customers. You already know that it's easier to sell to your current customers than it is to find new customers. But since new customers are the lifeblood of your business, you can make the job of finding them easier by laser-targeting those people who are most likely to be interested in your product or service.
Click2Mail's Look-Alike Report takes your existing customer data and analyzes it. What emerges is a clearer picture of who your customers are. The process is simple. First, you upload your customer list. Then, those names and addresses are confidentially compared to proprietary third-party data. That allows us to discover you existing customers' characteristics like attitudes, demographics, interests and buying habits. The end result is a better understanding of your customer profile.
When you order a Look-Alike Report, we'll calculate Market Penetration Index (MPI), so that you'll know you what percentage you already have of total potential customers. Records with an MPI of 120 or higher are your best customers. Currently, the Look-Alike Report is available for consumer mailing lists (not businesses).
Once you know what your best customers look like, how many of them you already sell to, and where your other best potential customers are, you can purchase a mailing list of prospects who have the same characteristics as your best customers. With that list, you can market to people who “look like” your current customers, increasing your odds of success!
What if you've already completed a data modeling project? The Look-Alike Report can help you uncover even more information about your customers. Then, you can use that information to build a list of prospects who are most likely to respond to your offers.
Interested in learning more about the Look-Alike Report from Mailing List Services? Give us a call at 866-665-2787. We have customer support experts ready to help Mon-Fri, 9AM to 8PM ET.