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Strategizing marketing solutions through measurement HOW TO ACT ON DATA

AMA Momentum's How to Act on Data by Michael Morin

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AMA Momentum 2013 Executive Presentation by Michael Morin

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Page 1: AMA Momentum's How to Act on Data by Michael Morin

Strategizing marketing solutions through measurement

HOW TO ACT ON DATA

Page 2: AMA Momentum's How to Act on Data by Michael Morin

BRIAN WIBORG

Vice President of [email protected]

MICHAEL MORIN

Executive Vice [email protected]

Page 3: AMA Momentum's How to Act on Data by Michael Morin

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

Page 4: AMA Momentum's How to Act on Data by Michael Morin

TECHNOLOGY=NEW TOOLS

Page 5: AMA Momentum's How to Act on Data by Michael Morin

HOW DATA

Solves marketing problems

Measures success

Determines customer target marketing strategies

Is used to sell furniture

WHAT WE’LL COVER TODAY

Page 6: AMA Momentum's How to Act on Data by Michael Morin

ORB-to-

BB-to-

C

Page 7: AMA Momentum's How to Act on Data by Michael Morin

SHARE YOUR BEST PRACTICES

Page 8: AMA Momentum's How to Act on Data by Michael Morin

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

Page 9: AMA Momentum's How to Act on Data by Michael Morin

PROBLEM:Who is your customer?

•What’s the value?

• Relevant messaging

•Media buys

SOLUTION:Data collection and analysis.

Page 10: AMA Momentum's How to Act on Data by Michael Morin

HARDWARE BUYERS FURNITURE BUYERS

Frequent Infrequent

Small purchase Big Ticket

Short Cycle Long Cycle

VS.

The story data tells us about customers:

Page 11: AMA Momentum's How to Act on Data by Michael Morin

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:

Page 12: AMA Momentum's How to Act on Data by Michael Morin

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

Page 13: AMA Momentum's How to Act on Data by Michael Morin

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

Page 14: AMA Momentum's How to Act on Data by Michael Morin

THE FURNITURE STORY: Speed Up the CycleHow data capture and analysis led to specific marketing targets

SALE!Saturday

ONLY!

Page 15: AMA Momentum's How to Act on Data by Michael Morin

THE FURNITURE STORY: Customers buy infrequently

We maintaincommunication

Customer enters purchase cycle(Relocation or renovation)

Page 16: AMA Momentum's How to Act on Data by Michael Morin

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

Page 17: AMA Momentum's How to Act on Data by Michael Morin

THE FURNITURE STORY:Customers buy during holidays…

Get to the top of their consideration list

SALE

Page 18: AMA Momentum's How to Act on Data by Michael Morin

THE FURNITURE CHALLENGE: The Other 39 Weeks

Page 19: AMA Momentum's How to Act on Data by Michael Morin

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

Page 20: AMA Momentum's How to Act on Data by Michael Morin

PROBLEM:When does your customer buy?

•How are you using modeling?

•What attributes have you found predictable?

SOLUTION:Predictive behavior analysis to identify cycles.

?

Page 21: AMA Momentum's How to Act on Data by Michael Morin

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.

Page 22: AMA Momentum's How to Act on Data by Michael Morin

SOLUTION:Test/Learn,

Test/Learn, Repeat.

PROBLEM:How do you know

what works?

Page 23: AMA Momentum's How to Act on Data by Michael Morin

“BIG DATA”

TIDAL WAVE OF DATA

NSA AS A 

“MODEL?”

SOCIAL MEDIA

LISTENING

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PROBLEM:How do you tell if

it’s working?

SOLUTION:ROI. Sales > Clicks

Page 25: AMA Momentum's How to Act on Data by Michael Morin

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

Page 26: AMA Momentum's How to Act on Data by Michael Morin

QUESTIONS

?

Page 27: AMA Momentum's How to Act on Data by Michael Morin