Data is the heart and soul of marketing. Every single piece of information that we gather from the market contributes to product development, the ever-evolving brand communications, and up to the crafting and mounting of the next big campaign.
Getting ahead of the competition or better yet converting your competitor’s customers and getting them into the fold is an exciting quest that data can help you accomplish. Here’s an idea of how you can do it:
1. Knowing is half the battle.
Early 90’s kids (or at least those who are into it) would remember how at the end of every GI Joe episode there are featured public service announcements (PSA) placed at the end of each show. The PSAs ended with the phrase: “Now I know!” “And knowing is half the battle.” Now who would have thought that this quote will be relevant in our digital marketing careers a couple of decades later.
Knowing is indeed half the battle as it sets the stage for your battle plans. Gathering reliable data gives you the capacity to see the competitive picture and allow you to dissect your target competitor to look at opportunities where you can come in.
- Audience: Start by identifying the customers that you want to convert. You can begin with the basics such as age, gender, and SEC. Then throw in more specific points such as frequency of visit (i.e. visited competitor store 4x in past 30 days) and time of day (i.e. visits every 9 am)
- Target Location: Set your eyes on the places that you want to tap. You can be specific and identify actual branch locations with which you see most footfall of your target audience.
- Behavior: Know your target audience’s interests and behaviour so that you can craft effective and engaging communications to fulfill your objectives. This can include device usage, what categories they frequent, etc.
2. Map relevant channels
Now that you know the who and where of the plan, we now go and figure out the how. In this digital age, it’s quite obvious that mobile is the way to go. Constant connectivity and high mobile engagement give us the best opportunity to engage at the right moment. But in order to deliver your communications efficiently, you have to have access to a far-reaching reliable network that gives you access to your target audience (i.e relevant apps, websites etc.)
3. Execute with precision
Timing is key when it comes to conquesting. Hit your target audience with the right message at the right time. Utilize geo-fencing and time-based ad serving to your identified audience base. You can deliver your communications right when they step into the vicinity of your competitor’s branch, give them an offer they can’t refuse, and reel them into your own store.
Now, you may think that you’ll need a dozen tools, talk to hundreds of people and imagine a coordination nightmare – take it easy because…
4. Near is everything you need
Near is a powerful Ambient Intelligence Platform providing real-time information on Places, People and Products that allows you to easily do everything that we have discussed here, and more. You can get real world consumer insights based on more than 1.5 Billion user profiles worldwide plus over 7 years of location data collection and assimilation. From audience segmentation and targeting, to execution and reporting, this is one platform you can count on.
When it comes to geo-conquesting, it has been done before and it has proven to be effective. Learn a thing or two from Shell Philippines: