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.

 

Direct Mail for the Modern Marketer

Summer Gould
Direct Mail Design: Color
Sep 18, 2014

Designing for direct mail can be broken up into three segments: layout, color/images and copy. Since these can all be...



Ruthless B-to-B Marketing

Ruth P.  Stevens
B-to-B Marketers Still Struggle With Lead Nurturing
Sep 18, 2014

I thought it was widely understood by now that staying in touch with a prospect who has shown some interest...



Reinventing Direct

Gary Hennerberg
Copywriting for the Left Brain/Right Brain
Sep 17, 2014

Writing copy for how the left brain and right brain processes information can make all the difference in your sales...



Brand Matters

Andrea Syverson
Is It Time for a True Goodbye?
Sep 16, 2014

As I reflected on a client interaction I had this week, I thought about how helpful it is for organizations...



Marketing Sustainably

Chet Dalzell
Death of the Agency? Not So Fast ...
Sep 15, 2014

The last season of "Mad Men" is approaching, but let's not be so fast to bury the ad agency with...



The Power Punch

Carolyn Goodman
Blogs: The Long and Short of It
Sep 12, 2014

Many marketers struggle over blog content—and that's never more apparent than when you stare blankly at your screen, hoping for...



Big Data, Small Data, Clean Data, Messy Data

Stephen  H. Yu
Freeform Data Are Not Exactly Free
Sep 11, 2014

Whenever "Big Data" is mentioned, there follows this sick stat that 2.5 quintillion bytes of data are being collected every...



Mobile-First Marketing

Greg Hoy
Zeroing in on Your Consumers With Geo-Marketing
Sep 10, 2014

Mobile geo-marketing is growing at a rapid rate. This growth is driven by applications such as navigation, local search and...



Marketing Nuggets

Michael Lowenstein
1-Trick Ponies and Customer Loyalty Behavior
Sep 9, 2014

About 30 years ago, Paul Simon wrote a song entitled "One-Trick Pony." The song describes a performing pony that has...



The Integrated Email

Cyndie Shaffstall
Email to Support Your Shopping Cart
Sep 8, 2014

Your website provides you with real estate for validating claims and educating customers, and should be a critical part of...



Making Social Sell

Jeff Molander
The Art of the Follow-Up
Sep 5, 2014

When prospecting using email or LinkedIn InMail, when should I send a follow-up email—to make sure the prospect saw my...



Keeping Search Profitable

Amanda G. Watlington, Ph.D.
Should You Make Your Site Secure for Improved SEO Results?
Sep 2, 2014

Just this past month Google confirmed that in the future, its search algorithm would be giving a rankings boost to...



Muscle Marketing

Wendy Montes de Oca
Penguin 3.0 Is Coming and It’s Time to Clean House
Aug 28, 2014

Anyone who's involved in Internet marketing can tell you that Penguin is more than a cute little seabird that lives...



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....



Here's What Counts

Chuck McLeester
Planning ROI? Turn the Funnel Upside-Down
Aug 26, 2014

Many marketers use a funnel to illustrate the progression from prospect to buyer because the narrowing graphic neatly shows the...



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: