Precision Marketing: Maximizing Revenue Through RelevanceFebruary 19, 2013
By Bill Duggan, Group EVP, ANA
I just finished reading the book, Precision Marketing: Maximizing Revenue Through Relevance. Co-author Sandra Zoratti is VP marketing at Ricoh and will be a speaker at the ANA Advertising Financial Management Conference in May.
Precision marketing is about using data-driven insights to deliver the right message, to the right person, at the right time, via the right channels. Precision marketing uses relevance as a catalyst to reach and fully engage customers.
The book drives home that relevance is the key differentiator that separates successful marketing from wasteful marketing. To survive you must get relevant as the damage inflicted by irrelevant messages can be severe. With precision marketing, marketers customize their communications, interactions and offerings to reflect what their buyers have told them about themselves and what the marketers can ascertain about them from the insights they have generated.
Rather than devote marketing budgets to mass campaigns that treat every recipient in the same manner, precision marketers are mining customer data for predispositions and propensities to spend in order to target buyers in sophisticated ways so communications are targeted and relevant to each individual recipient.
Precision marketing is about bonding, not branding. While branding marketers communicate with more of a “shout,” precision marketers converse with their customers about what these customers want and then show how their offerings or products satisfy those needs.
The role of precision marketing is to bring “the voice of the customer” into the enterprise and to help make the customer the center of the business across all functions.
Kudos to Sandra and co-author Lee Gallagher as all author royalties from the sale of their book go to Room to Read, a charity working in Asia and Africa to develop literacy skills and a habit of reading among primary school children.
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