In days gone by, it was the product that was King. And marketers focused their time, attention and money on promoting product features and benefits. But times have changed; in the modern marketing era, in times marked by fierce competition, an abundance of look-alike products, multiple-marketing channels and fickle customer loyalties, it is no longer the product that is King, but the Consumer.
And smart marketers realize that their success is dependent on their ability to truly know their customers…to understand, anticipate, and fulfill their wants and needs. And they have come to know that marketing data is the key to consumer knowledge. More specifically:
- Who their customers are (their demographics);
- How they live (their psychographics);
- Why they behave the way they do (attitudinal, behavioral and sociographic data); and most importantly—
- What they actually spend their money on (transactional data).
Over the past 35 years, ALC has become the leader in the field of data marketing by providing our roster of blue-chip clients with innovative ways to turn marketing data into actionable knowledge—knowledge that can be deployed to acquire and retain new customers, maximizing their long-term value.
Our proprietary methodology, which we call Insights to Action (i2A), is specifically geared to collect, enhance, distill, and organize marketing data in such a way as to provide our clients with a unique, infinitely-actionable platform for developing and executing effective marketing strategies.
The i2A starting point is Discovery. i2A allows us to quickly and easily gather and distill all available information that’s relevant to the campaign at hand—including marketing goals, marketplace trends, competitive analysis, prior campaign history, channel performance, appropriate transactional data, and more. The data is then converted to fact-based actionable knowledge and insights.
- What is the target profile?
- What are the key customer drivers, or motivators, of response?
- What do we know about the nature of the customer’s prior transactional history?
- What can we surmise about their identification with the organization’s brand?
- What is the scale of the prospect universe (how many overall, how many within each sub-category)?
- What media channels and devices would be most productive to reach qualified prospects?
- What is the most efficient mix of media to maximize ROI?
This knowledge is then translated into specific objectives. Which form the basis of a strategic marketing plan that incorporates iterative testing, monitoring, and evaluation of multi-channel strategic solutions, and includes specific tactics, costs, timetables, necessary resources, and measurement benchmarks against which success is judged.
As we implement our strategic initiatives, we generate a continuous flow of additional marketing data, leading to successive rounds of new concept and program development, testing, and new insights for the constant optimization of the marketing plan.