The Benefits of Real-Time Wealth Insights through an API: Part 2 – Get to Know Your Audience
Welcome back to our 5-part blog series about how you can use wealth data to supercharge your real-time sales and marketing strategies through an API. In our first post, we discussed how to prioritize and understand your best leads from the moment they first interact with you.
This week, we move onto Part 2 where we’ll focus on how you can get to know your audience better.
Do you know your customers? I mean do you really know your customers? You might think that you know all there is to know. But what does that really entail? You obviously know what they’ve purchased from your company. You may also know some basic information, such as their name, age, location, and other basic profile stats. What else? Some of you may be thinking…what else is there to know?
If this is all the information you have on your customer base, then there IS a lot more you can learn. For example, what are your customers’ interests? How do they behave? Do they have the ability purchase your higher-end products? These are all important questions. Having a firm understanding of the answers to these, and other similar questions, can help you gain a better understanding of who to prioritize in sales efforts and who to market to through marketing automation.
I hope that by now I’ve convinced you that more information on your audience is better. Let’s up the game a little bit more and talk about timing. Learning all there is to know about your base is great, but if you get those answers in weeks or months, your options are limited. It’s better than nothing, but unless your sales cycle is quite long, the opportunity has likely gone cold and needs to be reengaged. Wouldn’t it be better to get this information much faster? Like, real-time faster?
Consumers are 22% more likely to consider a brand as a result of real-time marketing. Why? Because real-time marketing gets relevant information in front of them immediately while they are interested in something. Ever hear of the phrase “right message in front of the right customer at the right time”? This is what that means.
Our ideal timing is real-time. And fortunately, that’s possible through APIs. You could do a lot more with that kind of speed. For instance, by understanding what your audience is interested in, you can customize your sales and marketing efforts. Don’t show them content on your website that isn’t relevant. Give them an experience that aligns to their interests. If you’re conducting a sales conversation, you can guide the discussion based on their background. Real-time speed instantly opens up a whole world of options.
Wealth insights are another important data point that can help drive this conversation – especially when wealth matters. Let’s work through a use case here:
Leads visit your website to learn more about your products. Wealth does matter for you…meaning that you have some products that may be more aligned to individuals with higher purchasing power. When you capture an individual’s basic information on your site – for a sales conversation, to download materials, or to sign-up for your mailing list – you can perform an instant wealth screening on those individuals through our API.
Congratulations! You’ve just learned a lot more about your audience to help you better segment and prioritize.
Develop customized sales tracks for individuals that fit different income profiles. Customize their future web experiences through a content hub with information about their interests and affinity. Fast track a sales conversation with your best reps based on their purchasing power. Or develop different talk tracks in your service center to align to their needs. The possibilities are endless.
Knowing your audience is important for good sales and marketing. Until recently, there was a time lag associated with gaining this knowledge. However, with better technologies and through the use of APIs, we can now learn this information in real-time. Let’s use that information to optimize our efforts.
Keep an eye out for Part 3 of our series in the coming weeks about failing fast and succeeding faster, where we discuss how you can run and optimize tests with real-time wealth data.
Want to learn more about our wealth API? Check out our developer’s site. Interested in more use cases and how you can use our API to drive better sales and marketing strategies? Check out our new eBook – 5 Benefits of Real-Time Wealth Insights through an API.