I went to a prospective client meeting yesterday to discuss opportunities for growing their membership base. One of my first questions was to ask about their data capture strategy. Not surprisingly, there was an absence of any formal strategy.
Based on their seven figure annual visitor count, there is ample opportunity to build the database of prospective members. And, that’s just physical visitors and doesn’t include their Web site traffic.
It highlights why EVERYONE who is serious about creating a personal dialog with their prospects and customers should develop a formal data capture strategy. Think about the resources you’re devoting to creating traffic, whether physical and/or virtual.
If you don’t go the next step, you’re reducing your potential marketing ROI. Each encounter is an opportunity to engage and extend the conversation.
The first exercise we lead customers through is a brainstorming session to list all of the touch points they have with prospective and current customers. That list then becomes the blueprint for developing a hierarchy of data capture opportunities; ranking each one by potential impact. We put it through a conversion waterfall to project ROI.
It’s a simple exercise you can do with your team. I bet you will be surprised by the number encounters you are not fully leveraging to your benefit.
Tags: Conversion Waterfall, Data Capture, Data Capture Strategy, Marketing ROI