The best marketing strategies evolve and grow with the consumer. In this six-part series, we focus on Relationship Marketing and how to get started with a marketing strategy that matures as a consumer’s relationship with a brand changes. Find the first part here.
Between social media platforms, Google analytics, and data collected through your website or other owned efforts, you probably have so much data you could swim through it, à la Scrooge McDuck. All of that data can be overwhelming. Is it reliable? Is it accurate? Are you actually doing anything with it?
By: Jennifer Yeadon, Cheetah Digital
It’s time to stop collecting data just to collect it. It’s time to start being intentional about what you’re collecting and why you’re collecting it.
The gold standard of relationship marketing
The gold standard for a relationship marketing strategy is collecting and acting on data. But not just any data, the right kind of data. In my last article, I spoke about collecting zero-party data using a value exchange. It’s one of the best ways to collect data points that go beyond the first-party data you can passively collect through forms, purchase data, and the like. Zero-party data is the preference data that helps you get to know a consumer, that turns them from an unknown consumer into a known customer — one you can start building a relationship with.
But here’s the truth about collecting zero-party data: you’re never really done collecting it. People grow, circumstances change and there will always be something new to learn about your customer. This is important to grasp, as relationship marketing is about building and then nurturing the relationship. Just like your personal relationships, it involves consistently checking in.
Instead of casting a wide net to capture data points you don’t need, try working on enriching your data by collecting preferences, interests, and other psychographic data. Think of maybe 20 or so things that you’d…