Google Ads is an effective way of acquiring customers, but businesses often forget that they have great potential in the data they already have. Google has become the Amazon of marketing, it’s the go to place to capture leads and increase sales. More Ads = More leads = More conversions = More Sales.
Where this is effective, it bears a cost. As more agencies compete, the cost per click increases for the same consumer, the conversion drops, and the only real winner is Google.
With an average cost per acquisition of £50+, there are other ways to increase sales.
Customer Data Platforms. Know your customer.
Customer data platforms (CDP) are effectively a data warehouse (database) containing your marketing data, interaction data and historical data, providing layers of abstraction to enable real-time decision making.
In contrast to your marketing database where at best it will be segmented, the CDP enables near infinite dimensions enabling personalisation and everything that comes with that.
Digital maturity has never become more essential. Using CDP technology you can differentiate those customers who are searching (for example high value enquiries, family), those who are regularly engaging and those who did engage and who stopped. This data combined with AI models enables a business to identify potential opportunities from existing customers and reward their loyalty by engaging differently – this engagement could be a phone call from an agent checking in, an appropriately timed email, a coupon, or other benefit which would promote the desired goal.
Implemented correctly this opportunity unlocks the massive potential in an existing database, enabling personalisation with personalised communication to deliver increased engagement and ultimately sales.