Data Mining - From Dust to Diamonds (1,194 words)
The key in realizing a program's potential through database mining can be as simple as taking what the file offers—or recognizing its limits. For example, experienced marketers wouldn't try cross-selling an $800 piece of exercise equipment to $20 workout video buyers. Sure, there's a relationship between the products and the expressed interest of the database, but that kind of mining will get you little more than a long ride down a dark hole in most cases. The best database miners know that you may need to dig in some unusual places because the truest diamonds in the rough only surface with a little more work.
Case in point: Continuity programs abound in the direct response industry with books and tapes, cosmetics and a variety of foodstuffs leading the way. However, content with a successful program, some continuity vendors haven't dug as deep into their database as they could have. Yet, uncovering your next marketing gem could be as simple as polishing a few of your existing stones.
Admittedly, some products are better suited to continuity programs, and some continuity programs are better suited to cross-sells, upsells or even additional continuity offers.
You know your customers have purchased from you before, and some are still buying the original continuity offer. But, you ask, how does that necessarily relate to data mining? Well, if you happened to blink just now, you could have missed it! Your customers' willingness to purchase from you is the very reason why they are prime candidates for database mining.
They like your products. They buy your products. They trust you. It is the perfect marriage from a direct response perspective. Key Media, based in New York, understands this relationship and is an excellent illustration of mining some familiar territory with outstanding results.
There's Gold In Them Thar Hills!