The justification of the carpet bombing approach no longer stacks up. Wastage is a very tangible thing now. Open rates and Click through Rates are now not the “wizzy” jargon that board level bods roll their eyes at.
If you are a right minded marketer, constantly building your email list with your CRM, then multi-channel marketing is about to get a bit more exciting for you with a kind of remarketing that DOESN’T require the user to have visited your site. You simply need to have established a relationship.
No, dinner and a movie aren’t going to help but a phone number or email address will.
Custom Audience Targeting made its presence known in 2014 and looks to take off in 2015. Both Facebook and Twitter are now offering tailored targeting solutions, a step up from the demographics model.
By using CRM data such as email addresses or phone numbers you have the ability to target only the folk that you already know. These are people that you will have insight into their tastes, needs and when they like to buy so that you can give them the bespoke message and offer that will make them convert.
Lifetime customer value is probably worth 153 jargon points right now, but it’s a serious point. Recruiting new customers can cost up to seven times as much as investing in delighting your loyalists. Get them to convert more or upsell them, easier than finding and competing for new blood.
Facebook takes custom targeting further by letting you upload your existing customers and then profiling lookalikes – people you don’t know that share hobbies, shopping habits and other interests with the people you do know. Back in a previous life of direct mail marketing, I saw post code mailings were an effective way of recruiting new names for the database. Invariably people that lived in the same post codes as customers we knew would have similar demographics.
So we’re now in a situation where we know email is still in its own right one of the best converting channels about; and we now know that we can use our list to increase our existing customer’s spend with us and also for recruiting new prospects. Triple win.
So how do you put this into practice? Let’s look at a few scenarios where segmenting your email list can create tailored audiences to target.
These might be people that have bought from you multiple times and show no sign of leaving. Hold onto these people tight. They should be cherished as the lifeblood of your sales. You have the option of looking to increase their spend with an upsell message; or perhaps more cannily you can use these people for word of mouse promotion, targeting them with a piece of content intended to be shared.
Action: Create something that conveys customer appreciation and thanks them for their love – an ad promoting a discount on their next purchase for being a loyal customer.
Customers who have recently bought from you are prime for an upsell or a cross sell. You could go quite granular on this by creating segments based on and linking to specific products or categories.
Action: Promote a related product using an ad pushing a related item to their recent purchase.
Identify from your list the high value customers either by spend or number of transactions and use Facebook’s lookalike functionality to create a lookalike audience.
Action: Segment database by spend. Upload custom audience and create a lookalike audience. Serve an ad that positions your brand or product in line with the common need or benefit your big spenders have.
Break out all those email addresses that have rudely been ignoring your well written and useful emails into their own custom audience.
Action: Create an ad with a creative that reminds them of what you can offer, or even better an ad that links to a killer landing page that positions the needs you meet for them.
That’s four groups that could yield an increase in revenue, prospects, as well as re-activate former fans of yours. The types of lists your segments can build could go on: you could target Christmas shoppers, people who have registered but never purchased, people that buy at certain times of the year, people that buy your latest product etc…
Custom audience targeting is my “thing” for 2015 because of how easy it is to improve awareness, prompt interest and drive people to perform an action whether engagement or transactional.
And also because it’s been “the year of mobile” every year for the last 5 years!
Has anyone else used Facebook’s Custom Audience Targeting? What have the results been like? What types of audience tailoring have you been employing? It’d be great to see what else it’s being used for. Drop and note in the comments below.
Thanks for reading.