Geomarketing: The Future of Customer Acquisition is Here
by Steve Critchlow, Group Managing Director, on 08-Mar-2016 08:00:00
The beginning, middle and end goal: customer growth.
It doesn’t matter what industry you’re in, how big or small your company is, or who your target customers are, there’s one universal goal for the majority of businesses: to grow your brand and client pool in a way that’s successful, efficient, and cost effective.
You want to be a cut above the rest, right?
Case in point: A client of ours, despite being one of the largest retailers in New Zealand, was battling daily in a market that is ever-changing and always competitive. For our client, as for many businesses, it was all about finding a better way to on-board new customers; developing a process and an offering that would differentiate them from the competition.
Now, you can go ahead and craft that sterling sales and marketing campaign. Or you can call, visit, or mass email thousands of “prospects” who, let’s be honest, are likely just another name or business on a long, generic contact list. But are you guaranteed success? Maybe. But let’s take a guess at the hours, creativity, calls, and footsteps used to gain minimal results. We’re willing to bet it’s a lot of time, energy and brainpower wasted…
You see, success in customer acquisition comes down to one very basic thing: knowing your customer. And that’s where we come in.
It’s all about results.
Now, this is just one of our clients who have experienced great success with our tailored geomarketing solutions. With the sales team’s ability to showcase their knowledge for each individual prospect, as well as being able to produce a specific offer unique to the customer then and there, great things began to happen.
With a process that ensures efficiency and cost management, comes success and customer growth.
The door-to-door sales team found they could work more efficiently, no steps were wasted – literally. Their conversion rate improved by 64%. The telesales team also saw a boost in numbers, with their conversion rate lifting by 57%. And with insights and outcomes recorded in real-time, it meant that our client could instantaneously measure analytics and understand what worked and what didn’t. Costs have been cut also, with the company now saving an estimated $7,000 to $30,000 per campaign.
Tailoring to fit: how can our products meet your needs?
At Critchlow, we don’t believe in one size fits all. And neither should you. We’re sure you’ll agree that, while the end goal is similar for many businesses, the road to get there isn’t. We tailor our offerings to you, so you can tailor yours to your prospects. And with an eye on really understanding these prospects, there’s only one way to do it: geomarketing.
With this specific client, we used their existing technology and customer information along with a specific geomarketing solution to maximise their sales and marketing achievements. It wasn’t a case of “more prospects equals more sales”, it was about finding those quality prospects and taking into consideration their needs and goals and catering to them.
The introduction of Spectrum Spatial Analyst to their door-to-door sales team gave them every piece of their potential customers’ data they could ever need, right at their fingertips. With Spectrum Spatial Analyst, incredibly detailed and complex information is curated and presented in a simple, concise, and user-friendly manner. From interactive maps showcasing high concentration areas, to in-depth company contact details; real-time analytics and insights, to access to offers specifically tailored to each prospect, the knowledge that can be ascertained through this software is uncapped.
And of course our clients’ telesales team got their piece of the pie, too. With a greater understanding of your target audience and your anticipated achievements, efficiency grows tenfold. Leads become conversions, not a wasted call. In our client’s case, detailed, informative, and specifically targeted prospect lists were provided and potential customers were not only top quality but also more likely to sign on.
What does the future of your customer acquisition look like?
As we said before, when you’re looking at pitching your business to new customers, it doesn’t matter how enticing your marketing strategy is, how many companies you call or email, or how many big-wigs you network with. Yes, those are pretty important, but without finding and understanding your prospects, these practices are all but redundant.
Knowing your potential clients’ requirements and being able to offer a solution that they didn’t even know they needed is key. Add onto that the ability to maximise sales and efficiency, cut down on costs, and learn from insights and analytics in real-time, the future of your customer acquisition has the potential to be, dare we say it, pretty bright.