Across the marketing ecosystem, data fuels every interaction. How do you tie it all together? In this presentation, I reviewed the value exchange between people and business and how to better enable personalization and analytics through the use of Data Onboarding and Big Data environments to not only improve brand experience but the bottom line as well.
16. High Value
20% customers
73% sales
Average Spend: $4818
Moderate Value
30% customers
20% sales
Average Spend: $888
Low Value
50% customers
7% sales
Average Spend: $184
WHAT’S AT STAKE?
21. CLOSED-LOOP MEASUREMENT ACROSS THE ENTERPRISE
Cross-Channel
Campaigns
Targeted
Audiences
Ad Serving /
Impression
Activity
Website Activity
/ Conversions
Understand
Marketing
Effectiveness
Make Better,
Faster Decisions
• Which media provider is driving
the highest conversion rates?
• How can I optimize my media to
drive conversions?
• What are the characteristics of
my best-performing segments?
Offline
Conversions
LAYS THE FOUNDATION FOR ATTRIBUTION
Thank You –
`
Steve Whittington
Ed Gaffin
Nathan Weber
Billy Beane – great presentation
I am sure it is amazing to have Brad Pitt play you in a movie.
If they make a movie of my life I think Jason Statham would be appropriate!
Can you see him saying:
“We need to clean up this dirty data”
“I promise to help you recognize the right people across all channels…”
What did Billy do?
1st Party Data
3rd Party Data
Using 2nd Party Data – Different Defintions) Proxy Data
Business Outcome was clear
- optimize wins to a specific budget
- different than competitors
4 things that are affecting marketing in unprecedented ways;
- Channel Explosion
- Technology Advances in the age of information
- Rise of empowered consumer
- confusion and changes in Privacy laws
Focus on the value exchange between your brand, your group, your team and your partners/customers.
Look to drive communications (not just marketing) to a level of engagement not messaging
Why is this critical for brands?
Just like Billy Beane optimize wins to his budget, brands that optimize ad spend to budget.
How do you do quickly?
Not rocket science (but it is data science) Focus on getting your message to the right people.
The challenges – We must respect our stated choices
– the consumer choice of transparency, notification and choice
Synthetic data
Data derived from small panels
Etc.
Today the customer image is blurry. You may know that a viewer:
- Visited abc.com
- Visited espn.com
- Uses jsmith@yahoo.com
Has viewed (3) World Cup clips
But, that said, these data assets are often:
- Available only in pockets and silos
- Riddled with duplication
- Hobbled by data quality issues
- Divided into known and anonymous
- Lacking the consistency required to achieve 1:1 marketing @ scale
But that’s not the end of the story. There’s also…
Which includes:
- His name is James P. Smith
- He’s 34 years old
- He earns $175,000 per year
- He lives at 1602 Prospect Ave, Park Ridge, IL 60068
- His mobile number is 1-312-883-6785
- He’s married to Jeannie Smith
- They have two children, Sam (10 years) and Carol (7 years)
- He owns his home
- He is a social influencer
- His Twitter handle
But also his propensity to purchase:
- A Chevy Camaro
- A Sony video game console
- Sprint wireless service
- Gillette Mach 3 razors
Rembrandt toothpaste
We’re talking about a picture that is both accurate and actionable.
We’re talking about seeing your viewers in HD.
And that you can reach him directly on Facebook, Yahoo and DirectTV.
The Customer Opportunity Analysis is a systematic data mining process that indentifies growth and retention opportunities in your current customer base. The analysis provides detailed insights on your current customers and an action plan for how to take advantage of these opportunities.
This analysis provides a methodology to:
Identify natural segments in your current customer base and a profile of those segments
Calculate share of wallet of these customers and the growth potential for them
Quantify lifetime value of these customers and the financial impact of attrition for them
Identify the mix of high-value segments, product offer and channel combinations and channel purchase preferences
It also provides an ACTION PLAN that helps you immediately leverage these insights to:
Develop relevant, personalized communications to drive increased engagement across these segments
Determine optimal marketing mix across channels
Connecting the data is more important than collecting it
When you consider the 4 V’s the 4th can be a critical differentiator
Volume, Variety, Velocity and Veracity (truth)
Paramount to reach the same person consistently across channels to achieve differntiated results
Again, they should see that there are lots of different sources of data to be brought together.