Before you could start to nurture decision makers in a target company, you need to be able to find the target company, find the decision-makers and become visible to them.
For this challenge, I imagined myself as a Marketer in that company tasked with acquiring new clients at Custora (a predictive analytics company which offers their clients the tools to better understand their customers and send more personalized marketing messages).
Finding customers who are a right fit.
To do that I took a look at some of Custora’s existing clients:
A lot of Custora’s clients are:
- In the fashion vertical
- Have an online as well as brick-and-mortar presence
- Generate revenues > $50 million
- And don’t use predictive analytics yet.
To figure out if a company was using predictive analytics, I searched for examples of abandoned cart emails on Google and determined if they offered any personalized recommendations. I also abandoned a cart at different stages in the checkout process, with different accounts to see if I received customized communication. You could read more about how that is done here. For example, I found that one of my target companies had already partnered with BlueCore and they were already sending predictively driven emails:
Kenneth Cole (KC), however, fits all the metrics above and I couldn’t find any signs that they were using predictive analytics. An additional benefit was that KC is managed by a corporation that manages Tommy Hilfiger, an existing customer!
The emails that KC sends out are not very personalized. I couldn’t find any abandoned cart emails either. Although their emails are beautiful they are not sending the message that people are most likely to respond to.
Finding the right people to target.
To figure out who to target, I’d have to find out who from the company is interacting on the Custora website. If we’re lucky we’ll have people from KC already interacting on the website.
Of the 6 case studies on the Custora’s customer page, 5 of them quoted senior level members of their customers’ organizations. They would have a greater understanding of the impact of Big Data on marketing. And, possibly more exposure to predictive analytics. It would make sense since these people are also most likely to be the decision makers.
The best way to nurture these decision makers is to get them into the content marketing machine. However, if they haven’t heard about you, how do you become visible to them?
Facebook and LinkedIn both give the option of targeting people based on their workplace. I’d create banner ads with relevant copy to target people who’re working at KC and start getting them to visit the website. Examples would look like:
I’d also try to be more specific and target senior level folks at KC.
Of the 6 case studies on the Custora’s customer page, 5 of them quoted senior level members of their customers’ organizations. They would have a greater understanding of the impact of Big Data on marketing. And, possibly more exposure to predictive analytics. It would make sense since these people are also most likely the decision makers on products like these.
Once we’ve generated traffic from Kenneth Cole’s marketing staff I’d begin to look at how they’re interacting with the site. What they’re watching, reading and downloading. Start treating it like inbound marketing. Only when they’re sales qualified would I send them an email. And that email would be based on the person’s interaction on the website, social and automated emails.
However, if I don’t have the opportunity to do this I’d try to reach out to someone who’s in a senior position, and has worked at one of Custora’s current clients. I’d ask someone on their team to help us connect or include the name and some statistics of the former company in the message.
A few suggestions:
They’ve all worked at Tommy Hilfiger and I would ask someone we’re interacting with over there to help link us. Or I would send them an email with some stats on Tommy Hilfiger data.
THE FIRST EMAIL
The first email you send is going to be a cold email. They might have browsed on your site and may have downloaded a piece of content, but this is the first time someone is reaching out to them personally. This is a cold email and your first priority should be to get them to open the email. That means the subject line should be relatable and straight to the point. Since Ryan has worked at Tommy Hilfiger before, I’ve added that detail in the subject. I’ve also added an impressive stat in the subject to entice Ryan even more.
How did Tommy Hilfiger [insert impressive stat here] using Custora?
I noticed that you worked at Tommy Hilfiger previously. Did you get a chance to see how they used Custora to predict their customers’ behavior – the things they’re likely to buy, how much they’ll spend, even how often they’ll shop. You can read a bit more about how we helped Tommy Hilfiger in our case study.
Is being able to customize your customer messaging based on their behavior something you’d be interested in?
FOLLOW UP EMAIL
3 things might have happened to the email(Prospect didn’t open the email | Prospect opened the email but didn’t click/call | Prospect opened the email, clicked the read more link.) Your response, likewise, should be 3 different things
1. Prospect didn’t open the email:
If a prospect didn’t even open the email then the subject line was not enticing enough.
Solution: Edit the subject line
Increasing customer LTV by analyzing their behavior
2. Prospect opened the email but didn’t click:
If a prospect opened the email, that means the subject was interesting. But the email body was not enticing enough.
It only took 2 weeks to see results with Custora
The marketing team at Tommy Hilfiger had Custora fully integrated in less than 2 weeks and started seeing results in just 4. Custora works with all your other marketing platforms to help tailor your marketing based on all your customer insight.
Would you like to hear about how easily Custora integrates with your current marketing solutions?
3. Prospect opened email, clicked on link and visited Tommy Hilfiger Case Study Page:
The prospect opened the email and is clearly interested because s/he clicked on the link. So this is more of a follow-up email.
Question about the Tommy Hilfiger Case Study
Thank you for reading about how Tommy Hilfiger used Custora to increase their best customers’ LTV by 20%.
Do you have any specific questions about how they identified their top customers? Or how they came up with ways to optimize marketing for those customers?
Let me know and I’d love to tell you more about it.