Modeling helps you harvest
low hanging fruit for
a better ROI
Mention modeling to some small business men and visions of Victoria's Secret dance in their heads. But this message is not about the use of luscious ladies to seduce readers. Rather, it's about how to get the best ROI with behavioral models that abet your seduction of those most likely to be seduced.
Modeling is like a matchmaker who helps you wine and dine those with whom you are most likely to score. It helps you predict outcome and direct efforts where they will do the most good. And it works.
The beauty of wise allocation of resources is it eliminates waste and frees funds for other profitable initiatives (like taking more money to the bank). Casual observations by even the most astute can miss opportunities that a model makes clear.
Hey! Can you live without it? Yes, but you'll live better if you understand how and why it works so well. Use it with laser-like focus to get new customers and keep the old, sell more to existing customers, forecast a campaign's probability of success, gather leads and convert leads to orders. Whatever your business objectives --- assuming you have the right product and price--- there are models that will help you reach your goals---models that will help you direct your efforts when and where they'll have the most impact.
But, it's not a piece of cake. Goose Google with a "Marketing Models" search and it will jump up with about 7 2,000,000 references to explore. That's a tad more than you'll want to tackle. And even if you just selectively click through the first few pages you'll find enough theories and arcane formulas to make your head throb. But you will also find information that will convince you that this is marketing science that works.
Now, you have several choices. All of them cost money: (1) After due diligence hire an outfit with the credentials and expertise to do the job for you. (2) Hire a consultant to direct your efforts. (3) Buy a book(s) and do it yourself.
My recommendation is to get a book. and a consultant. Start by visiting Jim Novo's web site at: http://www.jimnovo.com/
The site is jammed with solid information you can use even if you don't want to buy his book or hire him as a consultant. But Jim Novo is the type of gutsy marketer I admire. He'll let you read the first 9 chapters of his book for free if you sign up for his newsletter.
If you're in a learning mode, you're one of his models and he makes you and offer at the right time that's hard to resist.
Another suggestion: Contact Tom Luke: tom@cornerstonelists.com. Tom has proved that modeling is high-powered marketing ammo. As Director of Direct Mail Operations for a distributor of software, he mailed 60 million pieces annually and used modeling to build and maintain a customer data base of over 4 million.
When it comes to practical application of modeling, he's been there. Done that. And did it well.
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