A lion and its pride hunt Antelopes, Zebra and other meaty animals. Why don’t they eat rabbits and other small critters? Because they realize catching the larger prey provides for them and their families. So they have honed their skills to catch the ideal prey and they can leave the rabbits and other small animals for other predators who are better equipped to hunt the smaller animals. That should be the same principle we use when marketing.
Large organizations can afford to blast TV ads and full-page print runs in national magazines. That information falls on a lot of victims who will see or sit through their dribble and will never likely have to or want to purchase from them. I believe it is more of an ego thing to get their brand burned into our minds than it is a frugal one. We, who compete with them, do not have the budget nor the desire to wastefully advertise to deaf eyes and ears.
Let us turn to Artificial Intelligence in the form of metrics. Marketing can take advantage of predictive models that help them focus on the right prey. How you ask? By knowing who the more profitable customers are and what makes them unique. That information helps them find similar prospects to focus their efforts on. If it looks like a zebra and walks like a zebra we want that zebra!
Marketing metrics can do even more!
Marketing should also assist sales and the company’s resources to focus on what makes that “ideal” customer perfect. Why? Because predictive metrics provide a comparative analysis showing how existing customers purchase what products at what intervals and at what prices. The salespeople can then verify that similar prospects and similar new customers consume these types of products. If they do, then we promote the targeted products at reasonable prices and at predicted reorder times. Target marketing the right weapons is marketing’s best-known secret to help bag the right prey.
Happy hunting my predatory friends.