15 May Why data management can ensure marketers target everyone
Traditional sentiment has always indicated that marketers can use big data management to specifically focus on key demographics. While the benefits of doing so are evident, it should be noted that negating those who fall outside of target groups is an ill-advised strategy.
In reality, data should be used to target everyone, not just those who fit the parameters of an ideal customer. According to a study conducted by Catalina researchers, 53 percent of sales are conducted with individuals outside of the target demographic. This means that if marketers simply increase their efforts to lock onto a specific group, they could be preventing their respective companies from bringing in half of their potential revenue.
As a result, marketers have to expand the use of their data to ensure they are reaching all potential parties. An article in Forbes suggests that big marketing data isn't big enough yet.
"We need to stop thinking about target consumers and start thinking in terms of consumer networks," writes Greg Satell, the article's author. "Just because the daughter buys it, doesn't mean the mother (or father or brother) won't and beyond consumers themselves, there are advocates and detractors that can affect a purchase as well. They all matter."
This ties into the point this blog made about how information can be used to break down demographics into individual targets. Using FileMaker development to build a custom database software system will go a long way toward giving marketers the ability to mix-and-match groups to develop ideal campaigns for each potential customer.