The best customer-acquisition model involves qualifying prospects: giving them opportunities to, in effect, raise their hands, say that they do want to become a subscriber and then, after that, a customer.
But let’s take that model a step further. How can you use this information to locate and target the best new customers? Locate them, that is, without resorting to the use of a crystal ball!
We’ve found that adding “now data” to the mix, and responding in near-real-time to what new subscribers are doing online is one of the fastest and cost-efficient routes to getting more actionable steps and analysis out of the real-time information coming your way.
So what kind of “now data” can you obtain from your prospects? The prospect can take a number of different actions, actions that may include:
- raise their hand and say they are a lead (i.e., opt-in to receive an email)
- open an email and they are a prospect (having taken a second action)
- click on a link and go to the brand’s website or landing page—making them a qualified prospect.
At eWayDirect, we require that three such actions be taken before the prospect is considered qualified. You may or may not want to get that same mileage—it’s up to your company and its priorities—but what we all can agree on is that some of these actions are more valuable than others.
Opting in to receive an email is a great place to start, but it’s not so great a way to end, is it? Requesting more information about your company is nice, but wouldn’t it be better to ask for more information about one of your products? Opening an email is great; forwarding it to a friend is even better.
Prospects and customers alike are constantly giving you a steady stream of information about themselves, their preferences, their likelihood to respond to an offer … and essentially they’re telling you, already, just what kind of customer they’re going to be.
So why waste valuable time on prospects who hold little promise of giving great lifetime value, when the information is at your fingertips to distinguish and leverage the customer who’s giving every sign that they will, in fact, give you great income? This doesn’t mean that you should neglect any new customer—never do that! But “now data” enables you to target the more valuable ones, perhaps, with a different engagement strategy.
Unlike the crystal-gazer, “now data” really does have all the answers. You just need to ask the right questions.