Personalization is no longer a marketing strategy that’s nice-to-have, it’s a must-have. We are currently living in a world where people want to be seen as individuals. Consumers expect companies to know their preferences and will seek out those who can cater to their needs. The real question is, how do companies capitalize on this idea to generate new sales leads? By utilizing One-to-One (1:1) Marketing.
1:1 Marketing, or relationship marketing, is a customer relation management strategy that emphasizes using personalized interactions with customers. Similar to leveraging data and digital technology to develop personalized ad campaigns that are extremely relevant to a consumer’s interests and demographics, 1:1 marketing seeks to reinvest marketing with a personal touch- creating a deeper connection to ideal prospects. Relationship marketing is about segmenting your customer base into smaller groups of individuals with common demographics and marketing to them accordingly while creating strong customer connections.
When it comes to lead generation strategies and acquiring new sales, relationship marketing can yield fantastic results with the right approach.
Would 1:1 Marketing Even Be Beneficial for My Company?
The simple answer is yes- all types of businesses can find relationship marketing beneficial, especially in the building industry. Consumers are directly seeking out companies that can provide them with individualized customer experience. If your company isn’t providing personalized marketing, then it is costing you sales.
Things to Consider:
Trying this method on just anyone can waste a lot of resources as it consists of a tailored personalized approach to each individual prospect. Before you start a deep dive into 1:1 marketing, there are a few things to consider.
Who Are The Decision Makers?
Who are the final decision makers for the product or service you are marketing? Not everyone who may view your website or enter your business may have a final say on making a purchase. Instead, focus your marketing efforts on those who contribute to the final “yes”. Utilize digital technology to track current customers demographics and buying habits and then use the data to market to potential leads who match the same demographics.
Types of Product or Service
What type of product or service do you offer? There are really two different types of 1:1 Marketing- customization and personalization. One offers customers to completely customize a product or service according to their wants and needs. The other is personalizing a marketing approach to each individual based on their tastes and interests. Figuring out if your product/ service falls under customization or personalization will determine how to market it.
Marketing Channels & Platforms
What platform(s) will you use to market to and connect with potential leads? Fostering a connection with a potential lead takes time and is most successfully accomplished through platforms that consumers interact with on a daily basis- social media and email. An estimated 2.95 billion people use social media regularly worldwide. This means your company has the ability to reach a whole lot of people and gain consumers’ trust in their terms. Gaining consumers’ trust through social media isn’t easy, but this article is full of helpful tips to get started!
What Effort Will Be Required?
Relationship marketing may require additional digital platforms and expertise to manage. This may be in the form of outsourced help. You will need to decide if this something that your company is equipped to handle in house or if it’s something that will need to be delegated externally.
PROTIP: For B2B companies, LinkedIn profiles are the cornerstone of your professional brand online. Many professionals use this platform as a digital resume, but if you are looking to attract leads it may be time to spruce up your profile. This checklist contains great information about optimizing your LinkedIn profile to generate more leads. Cultivating 1:1 conversations on this platform has shown to provide many benefits as well.
1:1 is NOT 1:Many
Remember that 1:1 Marketing is not the same as 1:Many Marketing. The whole point of 1:1 Marketing is to connect with customers on an individual level. Many studies show that customers find irrelevant approaches frustrating, which is why using the same tactics you would to market to a broad group would not bode well when trying to market to individual customers. If you want to market to the masses, that is what we consider brand awareness marketing- a very different approach than 1:1 marketing and is also beneficial to implement.
1:1 marketing is not a new marketing tactic, but it’s something that was lost when processes became streamlined and automated. Getting back to the basics of connecting with customers and fostering a relationship is an efficient way to funnel hot leads to sales teams.