Target Marketing

You will be automatically redirected to targetmarketingmag in 20 seconds.
Skip this advertisement.

Advertisement
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.

 

The Power Punch

Carolyn Goodman
On LinkedIn, Who's the Boss of You?
Aug 1, 2014

I approached my employees and asked them how they'd feel if I asked them to revise their profiles and use...



Here's What Counts

Chuck McLeester
Use Market Research to Tie Brand Awareness and Purchase Intent to Sales
Jul 31, 2014

For years, I've been saying direct marketers are their own worst enemy when it comes to measurement. Direct marketers are...



Making Social Sell

Jeff Molander
Google Authorship Image Not Showing? Here's What to Do Next.
Jul 25, 2014

Are your Google Authorship images not showing in search results? Are you seeing a drop in site visitor traffic or...



Muscle Marketing

Wendy Montes de Oca
PPC Shockers and Secrets
Jul 29, 2014

Pay per click (PPC), particularly Google AdWords, is a marketing channel that can produce profitable results for your business, whether...



The Integrated Email

Cyndie Shaffstall
Sowing Seeds
Jul 28, 2014

Back in the day of direct mail, nearly all marketers had seed names on their lists in order to monitor...



Direct Mail for the Modern Marketer

Summer Gould
Is Every Door Direct Mail Right for You?
Jul 24, 2014

Every Door Direct Mail is a service designed by the USPS to help businesses reach every address in a neighborhood....



Brand Matters

Andrea Syverson
Linger Longer: A Branding Imperative
Jul 23, 2014

"Summer afternoon—summer afternoon; to me those have always been the two most beautiful words in the English language," wrote Henry...



Reinventing Direct

Gary Hennerberg
Stimulating Action With Color
Jul 22, 2014

There is growing scientific evidence of how the brain processes color and how color impacts our feelings and how we...



Marketing Sustainably

Chet Dalzell
The Mailboxes of My Memory
Jul 21, 2014

In my life, I've had a lot of mailboxes. My current box (New York, N.Y.) is part of an apartment...



Big Data, Small Data, Clean Data, Messy Data

Stephen  H. Yu
Big Data Must Get Smaller
Jul 17, 2014

Like many folks who worked in the data business for a long time, I don't even like the words "Big...



Marketing Nuggets

Michael Lowenstein
Avoiding the One-Night Stand
Jul 15, 2014

Stating that all customers are not created equal is hardly an oversimplification. But, just like the pigs in Orwell's "Animal...



Ruthless B-to-B Marketing

Ruth P.  Stevens
B-to-B Marketing Is Falling Down on the Job
Jul 9, 2014

I heard a horror story the other day—a consumer packaged goods executive ranting about a meeting with a vendor. "I...



Keeping Search Profitable

Amanda G. Watlington, Ph.D.
Google: The Elephant for Search Marketers
Jul 8, 2014

Pierre Trudeau, the former Canadian Prime Minister, once remarked about the United States: "Living next to you is in some...



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)...



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...



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...



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...



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....



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: