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AMA Momentum 2013 Executive Presentation by Michael Morin
Citation preview
Strategizing marketing solutions through measurement
HOW TO ACT ON DATA
WHY DATA MATTERS“Many businesses are collecting
data,
but they don’t know what to do with
it,
or if they know what to do with it,
they’re not doing it.” –
Fred Newell
TECHNOLOGY=NEW TOOLS
HOW DATA
Solves marketing problems
Measures success
Determines customer target marketing strategies
Is used to sell furniture
WHAT WE’LL COVER TODAY
ORB-to-
BB-to-
C
SHARE YOUR BEST PRACTICES
Your challenge is to
HOW DATA SOLVES MARKETING PROBLEMS
UNLOCK INSIGHTS
PREDICT CUSTOMER BEHAVIOR
WHEN TO REACH CUSTOMER
SPROVEVALUE
HOW TO REACH CUSTOMER
S
CUSTOMER PREFERENC
ES
PROBLEM:Who is your customer?
•What’s the value?
• Relevant messaging
•Media buys
SOLUTION:Data collection and analysis.
HARDWARE BUYERS FURNITURE BUYERS
Frequent Infrequent
Small purchase Big Ticket
Short Cycle Long Cycle
VS.
The story data tells us about customers:
HARDWARE BUYERS FURNITURE BUYERS
Men 25-54 Women 25-54
Buys 10-12 x per year Buys every 6-8 years
Cash & Carry Delivery & Financing
VS.
The story data tells us about customers:
How data capture and analysis led to a unique marketing program
THE HARDWARE STORY: One to One
Loyalty Card
01201020100120100Cardholder Name
• Here’s a relevant reason to buy
• Thanks for buying – here’s your reward
• We miss you – here’s a reason to buy
How data capture and analysis led to a unique marketing program
THE HARDWARE STORY: One to One
Spring treatment15% OFF!
Seasonal patterns• Spring, summer, fall, winter
• Product category patterns
THE FURNITURE STORY: Speed Up the CycleHow data capture and analysis led to specific marketing targets
SALE!Saturday
ONLY!
THE FURNITURE STORY: Customers buy infrequently
We maintaincommunication
Customer enters purchase cycle(Relocation or renovation)
43%of our business
comes from RETURNING
customers
THE FURNITURE STORY: Customers buy infrequently
38%
That’s grown from
by tactics in the last
5 years
35%of customers return to buy
within a year, so we communicate
frequently
Bounce Back Offers
Email Reminders
6 Holiday Events
WIT
H
THE FURNITURE STORY:Customers buy during holidays…
Get to the top of their consideration list
SALE
THE FURNITURE CHALLENGE: The Other 39 Weeks
PROBLEM:When does customer buy?
• Detectible time period between purchases
• Presence of kids
• Lower and upper socio-economic groups
• Length of residence
SOLUTION:Predictive behavior analysis to identify cycles.
• Low-priced and high-priced homes
• Target prospects through TV
• Email click-thrus and those with homes for sale
PROBLEM:When does your customer buy?
•How are you using modeling?
•What attributes have you found predictable?
SOLUTION:Predictive behavior analysis to identify cycles.
?
PROBLEM:What’s the most effective way to reach customers?
• Ethnic consumer
• Families with kids
• People living in homes recently listed
SOLUTION:Data analysis for each segment to identify medium, message and timing.
SOLUTION:Test/Learn,
Test/Learn, Repeat.
PROBLEM:How do you know
what works?
“BIG DATA”
TIDAL WAVE OF DATA
NSA AS A
“MODEL?”
SOCIAL MEDIA
LISTENING
PROBLEM:How do you tell if
it’s working?
SOLUTION:ROI. Sales > Clicks
Focus on basics
BEST PRACTICES: Tales from the front
1Set up system to easily track and compare factors like
Sales, response rate,
ROI,
2Measure every
direct marketing
initiative, look at model, look
at offer/promotion
3Continue to improve the
models you're using, determine
outside influencing
factors, integrate digital hand
raisers
5Continue to identify new ways to do things like
data co-ops and tools like
Rentrak
4Continue to test offers
QUESTIONS
?