The vast majority of Americans should be in the market for an Extended Auto Warranty. New cars, used cars, RVs… most households have a vehicle that could use the financial protection that comes with a third-party warranty. However, if you try to convince everyone to buy any one of your many products, your marketing message becomes diluted and vague. When companies try to market everything to everyone, then end up marketing nothing to no one.
You have to create multiple marketing plans based on your various products. And once you know the products you want to market, you have decide who is most likely to make a marketing decision. For example, data analysis shows that most households that have a recent new vehicle purchase will have another new vehicle purchase within three years. If the consumer already bought an extended warranty at the dealership, then trying to sell an extended warranty on that car is a waste of marketing money. However, if the focus of the message changes, then that same household is a perfect target for your new car product; not for the most recent purchase, but for the next purchase within three years.
Given the same household, demographics will significantly alter the method and means of communicating. As an obvious example, a direct-mail campaign will be significantly more successful if you your targeted audience is over 60 years old. However, you can’t make assumptions without the help of a good data analyst. Those same 60+ consumers are surprisingly active on social media and might be far more receptive to Facebook ads than a telemarketing campaign.
Once you’ve decided to create specific, targeting marketing campaigns, you need a data expert to sort, sift, and shuffle the data to help you successfully carry out the plan.