The Benefits of Look-Alike Reports
03/21/22
Do you have a customer list that has performed well in direct mail campaigns? Would you be interested in targeting additional prospects with similar attributes including:
- Geographic
- Demographic
- Psychographic
Look-Alike Reports can help you do just that.
How it Works
When compiling a targeted list of similar households to mail to in your next campaign, the process is fairly simple:
- Find the traits your existing customers have. Your customer list can be analyzed and specific indicators determined
- Those indicators will be used to search for records with the same or similar traits.
- A new list of potential customers is compiled based on how closely they match the traits of your existing list.
In other words, the Look-Alike report contains recommendations for prospects based on the client data you submit, as well as useful details that pertain to your target audience.
The potential demographic traits that can be analyzed include:
- Age
- Gender
- Income
- Homeowner / Renter
- Housing Type
- Marital Status
- Education Level
- Number of Children
- Credit Card Users
- Preferred Retail Store Type
- Number of Vehicles
- Vehicle Type – 1st Vehicle
- 1st Vehicle Year (1988 – Present)
- Vehicle Type – 2nd Vehicle
- 2nd Vehicle Year (1988 – Present)
Additionally, Look-Alike reports can include the distribution of your customer list and its matches by geographic area such as State, Zip Code, etc.
Market Penetration Index
In addition to finding and matching the demographic and other spending traits of your customer list, your Look-Alike report will also show you your list’s Market Penetration Index (MPI).
This information lets you define its prospective market potential. The higher the index calculation, the greater success you have at penetrating that particular demographic or geographic area.
Now You are Ready for Your Next Direct Mail Campaign
Once the Look-Alike report process is complete, you will be able to purchase a list of prospects in your trade area that look just like your best customers. This list lets you proceed with your next Direct Mail campaign with extra confidence you are mailing to the best possible audience.
