J. Schmid & Associates
"Big Data" is a buzzword these days. More importantly, under the hood there have been new data emerging from so many sources, we are all scrambling to keep up. As new media channels have been born during the past decade, so have new databases that serve as repositories for all the new data. In some cases, each media channel has its own database. In other cases, the data is combined where it is easy to do so. In all cases, we need to figure out how to make sense of this escalating confusion of data.
How do you create a response order curve to accurately reflect how close you will be to plan mid-way through a marketing campaign? How can that curve help efficiently manage staffing and/or inventory concerns? How do major holidays affect those forecasted curves?
Circulation planning used to be a print-channel-only exercise, independent of Web and/or storefront marketing initiatives. Likewise, Web traffic management was purely the function of the Web marketing team. It was the exception to the rule that the different marketing teams would coordinate on any kind of a common approach. However, to survive our new economy and the way customers make decisions today requires a new way of thinking and an updated approach to how you contact them.
Database and direct marketing have always been driven by tracking, measurement, analytics and in some ways, ROI. Historically, the idea of "brand" has been given a relatively free pass when it comes to direct, measurable accountability. To explore the ways to bridge this divide and help establish some analytical approach to measuring the value of your brand, let's consider the concept of return on brand (ROB).
Measuring the impact of marketing campaigns has become both complicated and enhanced in a multichannel world. Traditional methods of looking at cause and effect relationships between a set of activities and a set of behaviors no longer give marketers a complete or accurate picture of events.
It used to be so simple, didn't it? We mailed, we tested, we measured, we refined. Good spreadsheet and analytical skills were necessities for every direct marketer. Our ability to compare this year's data with that of years prior was easy to do, of paramount importance and valid without a shadow of a doubt.
Brand is king in the realm of securing customers and creating loyalty, which can save your bottom line in this down economy. Brand goes far beyond logos and taglines—it lies within your customer’s perception of your product or service. Whether you are aware of it or managing it, every point of contact with the customer defines and reinforces your brand—from the way you answer the phones, to the appearance and manner of your sales force, to the cover of your catalog and the landing page of your Web site.