Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 
Rio Longacre

Who's Your Data?

By Rio Longacre

About Rio

Who’s Your Data? is a blog that aims to disseminate thought-provoking tips and techniques involving the use of data and database marketing to direct marketing professionals. Why should you care? Because implementing data best practices has been shown to lift response rates, improve analytics and enhance overall customer experience. Reader participation is encouraged!

Rio Longacre is a Sales & Marketing Professional with more than 10 years of experience in the direct marketing trenches. He has worked closely with businesses across many different vertical markets, helping them effectively leverage the use of data, personalization technologies and tracking platforms. Longacre is currently employed as a Managing Consultant, Marketing, Sales & Service Consulting at Capgemini Consulting, a premier management consulting firm. He is based in the company's New York City office, which is located in Midtown Manhattan. He has also previously worked as an online media buyer and digital marketing strategist.

Email Longacre below, or you can follow him on Twitter at @RioLongacre. Any opinions expressed are his own.

 

Keeping Search Profitable

Amanda G. Watlington, Ph.D.
#Mobilegeddon Is 2015’s Y2K for SEOs
May 26, 2015

Missed in all of the hysteria around Mobilegeddon was the arrival of another algorithmic change, one with a very serious...



The Power Punch

Carolyn Goodman
Marketing Awards: What Are They Good For?
May 22, 2015

When I first started in this business, I remember that our new business pitch at Ogilvy & Mather Direct always...



Here's What Counts

Chuck McLeester
Why Won’t Millennials Call Me?
May 21, 2015

Maybe it all started with AOL Instant Messenger when they were teens. They created acronyms like PIR (parent in room),...



Search Made Simple

Phil Frost
How to Double Your Landing Page Conversion Rates With 6 Easy Tune-ups
May 20, 2015

One of the biggest mistakes you can make with your Google AdWords campaign is failing to optimize your landing page....



The Data Athlete

Mike Ferranti
Target Marketing Analytics Isn't Reporting
May 19, 2015

Today, virtually all organizations have challenges in effectively leveraging analytics to drive business performance. Odds are pretty good that when...



Creative Caffeine

Dani Cantor
10 Marketing Clichés I'd Challenge to a Fight if I Met Them in the Street
May 18, 2015

There you are, minding your own business, when it rounds the corner and rams into you full speed: the copywriting...



Making Social Sell

Jeff Molander
Is InMail Worth It? 3 Reasons It May Not Be.
May 15, 2015

Is InMail worth it? LinkedIn wants you to think so. But is it a good investment for you, in your...



Direct Mail for the Modern Marketer

Summer Gould
Direct Mail: A New Perspective
May 14, 2015

The key to effective direct mail is perspective. Perspective is a particular attitude toward or way of regarding something; a...



Ruthless B-to-B Marketing

Ruth P.  Stevens
A Case Study in Data-driven B-to-B Customer Acquisition Marketing
May 14, 2015

While preparing case studies for my new book, I had the fun of interviewing a bunch of very smart B-to-B...



Reinventing Direct

Gary Hennerberg
Why Direct Mail Won’t Die
May 13, 2015

You've seen the proclamations over the years that direct mail is near death, along with the counter-arguments that it's nowhere...



Big Data, Small Data, Clean Data, Messy Data

Stephen  H. Yu
How to Outsource Analytics
May 5, 2015

In this series, I have been emphasizing the importance of statistical modeling in almost every article. While there are plenty...



Psychology-Based Marketing

Jeanette McMurtry
Dysrationalia and Other Consumer Disorders
May 12, 2015

It's true. Most consumers suffer from a bad case of dysrationalia which, according to Keith Stanovich, emeritus professor of applied...



Marketing Sustainably

Chet Dalzell
Benchmarking: There's No Such Thing as an Average 2% Response Rate
May 11, 2015

It seems easy enough to answer the question: How to know if a marketing campaign measures up? But managing client...



IMM-Possible ROI

Stephanie Miller
Your Secret Weapon for Amplification: Employees!
May 7, 2015

There are sales enablement programs, partner and channel enablement programs and even influencer enablement programs. Why are there then, so...



Brand Matters

Andrea Syverson
I Dare You: Create a Brand Challenge!
Mar 17, 2015

Challenging something we do quite naturally and easily is indeed the perfect challenge. We all get into ruts—some even good...



The Integrated Email

Cyndie Shaffstall
Google Announces Significant Changes
Mar 9, 2015

As a marketer who uses email, you know as well as I do, your campaigns do not stand alone. Without...



Mobile-First Marketing

Greg Hoy
5 Mobile Marketing Trends You Can't Ignore in 2015
Jan 14, 2015

I don't have to tell you that we are living in a mobile-first world that continues to drive brands to...



Muscle Marketing

Wendy Montes de Oca
Converting Your Social Media Triple-Fs: Friends, Followers and Fans
Dec 16, 2014

I've heard many gurus, marketers and publishers brag about their social media followers. They'll say things like, "Isn't it great...



Marketing Nuggets

Michael Lowenstein
Marketing Success Is (Almost) All About the Data: Optimizing Customer Loyalty Behavior Initiatives
Oct 7, 2014

Much of what I've learned over the years about sales, marketing and customer service has to do with the critical...



Triple Venti Dolce Data...

Vince Pickett
Clue Me In, Please
Aug 21, 2013

So here we are, halfway through 2013. You, along with everyone, are still trying to find that magic formula to...



SEO & Content Marketing Revue

Heather Lloyd-Martin
5 Tips for Top Positioning (And Converting) Page Titles
Aug 11, 2010

Wondering about a SEO content strategy that offers the biggest impact in the shortest time? Try tweaking your page titles....



Yblog

Yory Wurmser
Privacy in the Age of Big Data
Jul 10, 2013

Consumers reveal more than ever before consciously through social media and, just as importantly, unconsciously through their behaviors. This data...



The Whole Magilla

Ken Magill
What Marketers Can Learn From Maine's Political Email Idiocy
Feb 24, 2012

It finally happened. Politicians' idiotic email practices had a measurable negative effect. "Maine Republican Party chairman Charlie Webster has admitted...



Online Video Marketing Deep Dive

Eve Grey
Are Your Videos Champions of Your Brand?
Feb 3, 2014

If you advertise in an ordinary way, it's safe to expect ordinary results. However, when you take the extreme and...



Think Mobility

Greg Hickman
‘I Can't Because, I Need ... ’
Oct 7, 2013

Does this sound like you? Have you ever set up a goal, but then realized (either quickly or too late)...



Denny Hatch's Blog

Denny Hatch
The Internet Can Make You a Chump—Forever!
Sep 25, 2010

Trouble is, the Internet is rife with misinformation and if you get caught advertently or inadvertently propagating this nonsense in...



Deciphering Big Data Is Key to Understanding Buyer’s Journey

 

Long before a sale is won or lost, customers and prospects embark on what can be called the "buyer's journey." This journey is a complex evolution spanning the entire lifecycle of the customer-vendor relationship, beginning with identification of the underlying business issue or need, and culminating in vendor selection.

Along the way, the prospect engages in a wide breadth of activities. Some are internal, such as winning over key stakeholders, building internal consensus and acquiring the necessary budget; while others are externally facing. For example, market research, engaging with colleagues in similar firms to share experiences, and of course contacting salespeople for product demos and pricing negotiation.

I do not claim to have coined the term 'buyer's journey.' For more information on it, you can check out a great article by Christine Crandell that appeared on Forbes.com earlier this month. Among other things, Crandell does a great job explaining how social media can be leveraged to better connect with and understand the buyer's journey, particularly during times when prospects are not engaged with your sales team. What's especially interesting about the concept of the buyer's journey is that prospects are actually unengaged with your firm during the vast majority of this process. Engagement only begins when prospects start their market research and contact a salesperson—usually not before.

Now how does this relate to database marketing? Well, it does in two huge ways. On a strategic basis, any marketer worth his or her own salt knows that effective marketing depends getting your message in front of qualified prospects as inexpensively as possible. In order to do this effectively, identifying how prospects are researching the marketplace is key. Why? Because this is where your prospects are spending much of their time, this is where you need to have your brand appearing front and center. So, from a marketing spend point of view, without a doubt this is where you're going to get the most bang for your buck.

Now, of course, this is far easier said than done. It's going to take a ton of market research, including customer interviews, focus groups, industry insight and general analysis to identify how your customers researched the marketplace prior to making a purchase. Did they attend key industry trade shows or events? Do they belong to specific peer or networking groups? What publications do they subscribe to? Whatever the answers to these questions are … well this is where you need to be.

Another key to deciphering the buyer's journey is understanding how the prospect is engaging with your firm across all Key Performance Indicators (KPIs). This understanding can only be arrived at through a deep analysis of every touchpoint between you are your customers. The best way to achieve this is to identify and extract customer and prospect data wherever it may reside. There are no shortcuts here. For large organizations, it can be located in an email broadcast tool, CRM, ERP, Marketing Automation Solution or purpose-built Master Data Management (MDM) Hub, among other places.

Now, of course, this means extracting and sifting through tons and tons of data—everything ranging from garden variety campaign analytics to purchasing history, from personal attributes to company insight, from demographic data to psychographic profile. Tracking, archiving and sorting out all this information is big business. In fact, many in the industry are now referring to this reality as 'Big Data,' as companies track and store vast troves of information that they need to make sense out of. In addition to the physical IT infrastructure required to capture and store the information, making sense out of it often requires technical expertise. Without wanting to veer off topic, if this sounds interesting then I suggest turning to NPR, where an interesting and in-depth story on Big Data aired on November 29, 2011.

As I was saying, once the data is extracted, you need to make sense out of it. Paramount to this task is the process of creating robust user profiles replete with detailed demographic, psychographic and, of course, (for B2B) firmographic information—in effect, multi-dimensional user profiles—and mapping it back to KPIs that help identify engagement patterns and behavior central to the buyer's journey.

Once user profiles have been established, this is where the fun parts comes in, as marketers leverage this information to create compelling offers that speak to the various customer segments. The good news is that recent technological innovations have made this job much easier and more effective. Using marketing automation tools, it's now possible to broadcast varying sophisticated drip marketing campaigns to various segments of your database—segments that can now easily be created using complex rules based on both list attributes and user engagement. What's more, the marketing message itself—email creative, direct mail piece, landing page, and so on—can now be highly personalized based on profile data, resulting in higher response rates, reduced media costs and, of course, improved customer satisfaction.

I hope this all makes sense. Any comments or feedback are welcome.

Sections:

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: