Benefits

Customized LifeStyle Marketing practices improve marketing ROI in many ways.

• Precise Targeting to Prospects who Live-a-Like™ your current best customers. For example, in one market a client had 401 "best customers" in a specific LifeStyle. We were able to identify by name and address the 1400 prospects in the market that are most similar in LifeStyle as well as age, income, net worth and gender.
• Better CRM results. By overlaying Live-a-Like segmentation on RFM (behavioral, purchase data) of your current customers, you achieve higher transaction values. One client achieved a 150% increase in average dollar sales to a specific LifeStyle in the first application.
• Increase response rates. Using the right language and examples with the right LifeStyle makes up to a 500% difference in response rates. (Would you sell to Warren Buffet and Donald Trump the same way?)
• Reduce costs. Improved targeting eliminates marketing to less probable and less profitable prospects. Improved messaging increases response rates. The combination can lead to a 66% reduction in acquisition costs.
• Identify best practices. Analysis shows that transferring best practices in LifeStyle marketing and selling from one store to other stores can by itself result in an overall revenue increase of 5%. (Read LifeStyle Retail Example: The Business Case for LifeStyle Marketing.)
• Better utilization of sales associates. There is clear evidence that each sales associate is more productive and feels more confident when serving clients of a similar LifeStyle. By targeting their efforts you can increase satisfaction as well as business results.