Building a list that includes a customer’s name, postal address, and email address is as far as many marketers go. However, by limiting the amount of data about your customers, you also limit how far your marketing can go-in reach, accuracy, conversion rates, and up-selling.
Knowing your prospects and customers at a finer-grained level enables you to improve your success in winning new customers and selling to your customer base. In addition, the art of marketing has advanced as more tools have emerged for refining marketing through targeting, personalization, and analytics.
Where do you get the additional data? A real-time demographics service allows you to add supplemental information to your records as visitors register on our site-including data such as age, marital status, home ownership, occupation, education, lifestyle, and much more.
Firmographics also are available for businesses to enable more refined B2B marketing and selling. Data such as number of employees, years in business, number of computers, etc. can give you a better understanding of a business as a potential customer, and better insight into what types of products and services would be welcome.
By gaining a deeper understanding of who your prospects are and how they behave, you’ll be better able to rank, segment, and target them for your prospective offerings, which improves the overall conversion rates of your marketing and sales.
The results can be profound. Marketers typically aim to convert percentages of prospects into customers, with 3 to 4 conversions out of every 1,000 prospects reached being an acceptable goal. According to digital and social media marketing strategist Jamie Beckland, effective use of demographics has the ability to increase the conversion rate to as much as 300 -500 out of 1,000.
Harnessing the information provided by a demographics service enables you to target prospects more precisely, create the most effective offers, and reach the most appropriate and receptive prospects. With the potential to hit numbers like 30% and 50% conversion rates, it is worth investigating what adding demographic data can do for you.