Customer analysis is a critical component of any business plan in all stages of growth. By analyzing your customers, you can define who your target market is, and decide how you’ll reach them.
A recent article in Forbes stated that 81% of enterprises rely on analytics to improve their understanding of customers.
The more we know about our own customers, the easier it is to “clone” them. By finding lookalike prospects, we can market more intelligently and spend our marketing dollars wisely.
Many of our customers have found that a Customer Analysis leads to a deeper understanding of their customer’s buying behaviors. Subsequently, this helps fine tune the selection criteria for their new campaigns.
Customer Analysis Options
- Basic Customer Profile
- Market Penetration Report
- Custom Analysis and Model Build
Sometimes this is called Pre-Search
According to Wikipedia, forecasting buying habits and lifestyle preferences is an important process of data mining and analysis. The information used to develop this data comes from many places. These include credit card purchases, magazine subscriptions, loyalty card membership, surveys and voter registrations. By using these categories, we can create consumer profiles that show a business’ most profitable customers. When the analysis indicates that many of the potential customers are in a single area, it indicates that this is a place for the business to prospect.
Some businesses also use a drive time analysis. This makes it possible to predict how far a given customer will drive to a particular location.
Consequently, when we combine these sources of information, we can place a dollar value on each household within a trade area. This details what that household may be worth to a company. Because of these customer analytics, companies can make decisions based on facts and objective data.
Dataman Group Direct’s Customer Analysis Service allows marketers to really hone in on what makes their current customers tick.
Call us at 800.771.3282 to discuss which option would be best for your business.