1. Help In Setting the Right Price

You may have invented a product that can change the world, but if you get the pricing factor wrong then your marketing efforts are bound to be futile. Some people set prices based on market dynamics, especially the competition. It doesn’t make economic sense to offer a superior quality product at a less-than-average rate. The best way to establish the right price is through proper understanding of the customer demographics. During high seasons, for example, most hotels in all known tourist destinations are usually fully booked even though the prices are more often than not at the peak. This is not by coincidence because holidaymakers don’t mind spending during this time and will do anything to secure accommodation. Companies that offer comprehensive database cleaning ensure that they sell niche-specific data to the customers so that they can understand their prospects’ or customers’ characteristics as they package their product for the market.

2. Understand Product Insights

Comprehensive understanding of your product is very important in marketing. It is now much easier to carry out qualitative and quantitative market research online, but can be a daunting task if you are targeting a specific portion of the population. With the right residential data for example, you can find out information that relates to peoples lifestyles and economic status; you can understand the right product insights and design your marketing campaign to completely meet the needs of the prospects.

3. Product Placement

Product placement can be a great way to expand on your marketing reach. Even though product placement in the general sense is traditionally used by television or video companies to highlight key brands such as Pepsi or Pizza Hut, your brand may be the next BIG thing but doesn’t quite have that big a budget yet. Consumer marketing data can be a great way to advertise your new product through video, email or in social media and really get people thinking about your new brand. Some consumers may be more social animals, so will perhaps pick up on your campaign through Facebook or Twitter – but, they will have got to that point of sale through a targeted email campaign using consumer data. And so the product placement starts.

Once the brand becomes big enough, then you can look at product placement in TV, films and more to create and even bigger market reach. Every business has to start somewhere and if you have a food, luxury make-up, travel or fashion product for example, consumer data marketing is a great place to begin.

4. Proper Targeting

Communication is only considered complete after feedback has been received and this is easier to achieve with proper data targeting. When you buy marketing lists, you can easily pinpoint your marketing efforts to specific individuals to target your services, as opposed to sending them useless information or that which does not apply to them directly.

Think about your ideal customer and who you would like to attract, then use this information to create the ideal profile of your target customer to ensure that your product or service meets their needs. Marketing in all will be much more simplified with quality consumer data, and its effectiveness will depend on three major factors: the size of the list, its accuracy and most importantly its utilisation.