According to the Fantasy Sports Trade Association (FSTA), 57.4 million people in the US and Canada played fantasy sports in 2015. Participation is skyrocketing, year-over-year. Fantasy football lets sports fans build super-powered team rosters by picking their favorite players or strategically combining players to win in their Fantasy Football leagues.
The FSTA learns a lot about fantasy football players. They know who these players are, where they live, how they play, what they spend, and what devices they use. Industry demographics show that fantasy football players are 66% male. The average age of a player is 38.6 years old and 51% make $75,000 a year or more. All these statistics can be used to target marketing towards these fantasy football fans.
Marketers can learn from the way the FSTA uses player interactions to learn about their customer base. Just like fantasy football players choose their teams based on stats, marketers can build a winning roster of ideal customers using stats gathered from interactions with marketing channels.
Building a Winning Customer Roster
In fantasy football, you want to build a team out of players with the best stats. A player’s past performance is going to give you the best indication of future success. The same thing goes for customers. Past interactions with your brand will tell you information about individual consumers and how to best predict their needs in the future.
Comments, likes, and shares on social media give you a window into customer sentiment and who the customer is. Browsing activity on your website reveals customer preferences for products and services. These activities also reveal information about who the customer is, such as information about their gender, age, and location.
Mining the data gathered from multiple interactions helps you develop a composite picture of the ideal customer that can be used for customer segmentation. Grouping customers into meaningful categories empowers your business to market to individual consumers using personalized offers.
Instead of recruiting one ideal customer, you can recruit many customers who match your statistics. These star customers are what HubSpot calls Power Customers, or the 20% of customers that generate 80% of your revenue.
Targeting Your Customers for Recruitment
Tracking the journey of your ideal customers will tell you how to best reach and engage them in the future. These past customer journeys are like sequences of past plays that can be analyzed to get a sense of how a football player has performed.
Customers may use mobile devices to browse and learn about products and services before buying a brick-and-mortar store. PricewaterhouseCoopers found that 40% of consumers make purchases inside a store compared to 27% online. Half of those surveyed say they use mobile to research products and compare prices. In response, your company should promote offers through SMS, push notifications, and your mobile website that carry over into your storefront.
Understanding the channels your ideal customers prefer and how they like to interact with them will help you develop a personalized customer experience that will win them over. In fact, Technology Advice reports that the return on investment for personalized marketing is more than 200%.
Developing a Strong Defense and Offense: Proactive vs Reactive Marketing
Building a winning marketing strategy can be like playing a football game. Sometimes your business needs to be on the offense with proactive marketing and sometimes you need to be on the defense with reactive marketing.
Ideally, your business should engage in proactive marketing by developing a comprehensive marketing strategy. Based on past customer behavior and your understanding of their attributes, you can decide which channels to use and how to use them to achieve your goals.
Sometimes customers defy past patterns and force your company to market reactively. If a customer trend emerges, you want to be able to respond in the moment through reactive marketing.
For instance, during the Patriots’ Deflategate controversy last year, companies parodied Tom Brady and under-deflated footballs to generate interest in their products. When your business notices traffic on social media about trends or popular memes, you can respond reactively with custom marketing campaigns that become part of the conversation.
Play Fantasy Marketing
Marketers can learn a lot from the growing fantasy sports trend. Fantasy sports players are winning big and so can your company. Bloomberg News reported that the first-place winner in the 2015 FanDuel championship came away with $2 million. Some players win tens of thousands of dollars per year on fantasy sports.
The key to developing a winning playbook of marketing tactics is analytics. Analytics will tell you tons of information about consumers by leveraging the data generated by interactions with your brand for insights. Once you have this information, you can categorize consumers to target, as well as create new methods for recruiting new customers. Mapping and analyzing customers’ journeys helps your business develop a game plan that personalizes your customers’ experiences.
The experts at Pluris can work with your company to analyze your stats so you can fill your playbook and develop a winning roster of loyal customers.
Do you need coaching on how to find and retain ideal customers? Contact the experts at Pluris today.