How To Expand Your Data
Collecting data is nice and it’s something smart businesses do as they look to establish their brand and keep consumers updated on new products and services. However, there is a common misunderstanding when it comes to how to utilize data the right way. For example, what information do you collect when someone signs up for a promotion or buys something from you? Normally, it’s a name and an email. If you are lucky maybe a date of birth or something else but that’s usually it. Is that really enough to connect with consumers at a consistent rate? Of course not, the only way to really do that is to expand your data and learn who your consumers really are.
What if your 20,000 emails can be turned into 2 million, overnight? What if you could then use that data to reach people send those consumers emails, social media ads and display banner ads to them on apps and sites they visit? Wouldn’t that expand your presence and give your marketing an edge like it’s never had before? This is the type of thing you can do with your database if you are able to analyze the information and find cost-effective ways of enhancing it.
Understanding Your Audience
The best way to select an audience is to understand them. It doesn’t matter if you have 200 records or 20,000. A quick and thorough analysis of the records will allow you to learn more than you ever thought possible. This includes information like a person’s age, where they live, how much they make, their credit score, if they are married, if they have children, whether they own a home or rent, whether they own a car or lease it, who they voted for, what they do for a living, their personal interests and so much more.
Expanding Your Data
Now that you have an idea of why your customers are, you can expand on your targeting. You can select from a comprehensive database and use it to reach an audience of millions in some cases. But does it cost millions to advertise to millions? No, because services like social media advertise, email marketing and display advertising are very cost-effective. When compared to other options like television, newspapers and radio, these services allow you to reach consumers throughout the day, know exactly who is seeing your content, if they engage it and so forth. You cannot select that kind of targeting and tracking with more traditional forms of marketing and the best part, it’s more affordable.
