Cover Story: Are You Ready for Big Data?
Kravetz and his team are also mining the most loyal customers in the database to send them handwritten thank you notes. Fairytale Brownies competes with Harry & David, Mrs. Fields and Godiva, and he says "Many customers jump around looking for the best prices, so we want to compete on loyalty, product quality and making personal connections."
Most of Fairytale Brownies' sales have come from branded search terms, including the company's name and common misspellings—such as Fairy Brownies and Fairyland Brownies—Kravetz explains. He's been tinkering with the terms he is using in the firm's pay-per-click ad campaign on Google, and is fine-turning the non-branded search terms—such as "brownie gifts" and "cookie delivery"—to increase the number of new customer leads from that category.
Part of that entails excluding certain searches by people who Kravetz says, in reality, weren't interested in mail-order gifts.
"When people added cities to searches, such as 'cookie delivery Sarasota,' none of that was working for us, because these people were actually looking for a local place that would deliver cookies bought on the same day," he explains. "I added negative keywords to the campaign, so now if a person puts in a city name, our ad won't show to them. This excludes the noise from the signal, because these campaigns can get really expensive."
4. What does your "Master Data Management" strategy need to encompass?
Answer: d. All of the above
Fred Hagerman, senior vice president and chief marketing officer at Firstmark Credit Union in San Antonio, says that comprehensive data management is a "journey."
"If I just had to worry about a marketing campaign, we'd be very focused on just building a good marketing database, which allows us to do a good email or direct mail campaign," Hagerman says. "But from a higher perspective, we are also responsible for talking to members at the right place at the right time, which means bringing in more data that we have to share. So if members telephone the call center to ask their balance, we'll know to talk to them about an auto loan."