For some marketers, "Big Data" is a scary concept. That may mean they don't bother with data at all. Information on buyers, though, can be a marketer's friend, says Debra Ellis, founder of Wilson & Ellis Consulting. "Seasonal and discount shoppers are relatively easy to recognize, because they have very specific buying patterns," Ellis writes in a piece published on Aug. 1 on LinkedIn Today. "Creating customized marketing for them increases their response and reduces costs. The dual benefits make this a logical place to begin."
"Once I have a buying customer, it's my license to sell that person anything I've got," Folio: editor Chuck Tannen said to me over lunch years ago. Recently, I did pieces on two organizations that embraced Chuck Tannen's business philosophy—American Girl and Playbill. These people blitz their audience with buying opportunities. I am continually astonished at the number of organizations with enormous databases of users who never make an offer for a paid product or service—e.g., Yahoo. I get the sense they are terrified of offending.
The most recent convert to the Chuck Tannen business model is The New York Times. I've been a reader for 60 years.
Many years ago I had lunch with Chuck Tannen, publisher of FOLIO: The Magazine of Magazine Management. I asked Chuck whether FOLIO was profitable. "We have the Folio conference and exposition," he said. "Plus card decks, consulting contracts, books, advertising in the magazine and of course subscription revenue. Every time we acquire a new subscriber, it's my license to sell that that person whatever I can to help make his business grow. My aim is to surround the market."
Travel anywhere—or visit the travel section of a bookstore—and you'll run across the name Arthur Frommer. He is the publisher of guidebooks, travel books and maps. Enter "Frommer" into amazon.com and you'll get 6,049 results. Go to Arthur Frommer's website and you'll have the entire world at your fingertips—where and how to go, where to stay, where to eat and drink, what to see and do. I would bet this is the world's greatest database of the world for the traveler—continually updated and invaluable.
Many times over the past seven decades, I have met ambitious young men and women who wanted to leave the corporate rat race and go off on their own. The idea of working like hell for five years only to have your business tank is not a pretty thought. I'm a guy who started two businesses (the WHO'S MAILING WHAT! newsletter with my wife Peggy and a freelance copy and design service). Both are still going 25 years later.
The ever increasing volumes of data used by companies like Target, Walmart and Amazon to carefully target their customers is cumbersome and difficult to manage. Analyzing patterns to find the right trigger that will motivate an individual to buy requires gifted statisticians that combine art and science into marketing magic. But what if you are not quite ready to use big data in your business? Can you still reap some of the benefits?
Last October, my wife, Peggy, and I invited our good friends Paul Goldberg and Joseph Dipper to lunch in Chicago, where we were all attending the DMA Conference. The hotel concierge recommended NoMI on the seventh floor of the Chicago Park Hyatt. Our table by the big window overlooked the iconic Chicago Water Tower, constructed in 1869 of Joliet (Illinois) limestone blocks and one of the few survivors of the 1871 Great Fire. Everything about the restaurant was world-class—the décor, service, food, wine and vodka (Grey Goose). Dining doesn’t get any better than that, and I would recommend it to anybody who has plenty
by Katie Haegele The Internet is no longer new media. You know you've got to use it to its fullest potential. Online initiatives, such as affiliate marketing and breeding loyalty through dynamic and compelling content, represent some of the best ways to capture and keep the attention of Internet users. Friends in High Places Researchers at Forrester believe that by 2003 the affiliate market will be worth $12 billion. Also called "pay-for-performance" advertising, affiliate marketing is eclipsing banner advertising as the new way to exploit the Web's inherent tracking capabilities. There's safety in numbers. Forming smart partnerships could well be the wave
by Lois K. Geller I believe we reap what we sow. And lately, I've become even more aware of companies that, through their direct marketing programs, are contributing a portion of their profits to charity. Companies are getting involved and giving because it's a good thing … and it's good for business. The goal of contributing a portion of profits to charity is to deepen the trust and the relationship with customers, enhance the company's corporate image and drive sales … while providing benefits for a worthwhile cause. A while back, I came across a study by research firm Walker Information that