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Data Driven Marketing How to Connect The Dots
| Date post: | 17-May-2015 |
| Category: |
Marketing |
| Upload: | chicago-ama |
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Data Driven Marketing How to Connect The Dots
Connecting the Dots
• Frequency • Content • Implementation
Erik Severinghaus Founder & CEO Email Veteran (Founding team for iContact) BIG DATA NERD Patent #20080320482A1 “Management of Grid Computing Resources Based on Service Level Environments” MARKETING KNOWLEDGE Kellogg MBA
[email protected] | 312-569-9431 | @SimpleRelevance
Accounting 101 • INCOME STATEMENT: How much
money did you make? • CASH FLOWS STATEMENT: How
much cash did that generate? • BALANCE SHEET: What are your
assets and liabilities?
Your email list is probably worth millions of dollars. You should treat it like a valuable asset.
Accounting & Ecology
Neglect
Overuse
Neglect Overuse
56% of merchants we subscribed to
sent only a confirmation email.
90% of merchants who sent mail
would “batch and blast” the same
content to everyone
Understand & Optimize the Value
What is the biggest challenge to big data for
marketing?
We aren’t using our data to effectively personalize
our marketing communications
- 49% of Chief Marketing Officers Surveyed
“ ”
What is the biggest challenge to big data for marketing?
Most Marketing is
Marketing Should Be
Batch & Blast
Some A|B Testing Little Segmentation
Manual (“Hard”)
Personalized
Completely Data
DrivenAutomated (“Simple”)
- J.Crew Customer
I love J.Crew. I am a male and don’t need to receive emails targeted towards
females. I’m not sure if your system is capable of segmenting
your email lists.
“
”
You don’t know Jack. Or Tina. Or Joe. But the data does. Your customers are all different and respond to different things. The more they open and click on your emails, the more revenue you earn. But how do you get each of your customers to engage with your emails? The answer is smart emails that identify the unique tastes of your customers so you can mass target them one-by-one. The Results: •50% + increases in revenue •$20 of incremental revenue for every dollar spent •But don’t take our word for it, check out this case study by Marketing Sherpa
Like many e-commerce companies, Li-Ning used to segment emails based on just their customers’ age and gender. However, they found that many of their emails weren’t engaging their customers. This is because they weren’t looking at all of the available data on their customers.
Li-Ning assumed that because Tim is a young male, he likes basketball and Dwayne Wade. However, Tim ignored the email because he likes tennis, not basketball.
"User":"[email protected]" “Gender” : “Male”
"Age": "18-24" “FB Likes”: “Tennis”, “ATP” “Purchase History”: “Li-Ning
Pro Competition Tennis Shoes”
Meet Tim.
A Better Way Us technology to pull data from Li-Ning’s customers’ emails, demographic information, and purchase history to send targeted emails to each individual subscriber.
"User":"[email protected]" “Gender” : “Female”
"Age": "25-30" “FB Likes”: “Running”, “Chicago
Marathon”
“Purchase History”: “Li-Ning
Women’s Running Shoes”
"User":"[email protected]" “Gender” : “Male”
"Age": "30-34" “FB Likes”: “Badminton”
“Purchase History”: “Li-Ning
Badminton Racquet”
Personalized product recommendations, subject lines, creative, and the time of day and day of week emails were sent to maximize Li-Ning’s conversion rates. Best of all, all of our emails are sent automatically, so Li-Ning never had to deal with sending emails again.
"User":"[email protected]" “Gender” : “Male”
"Age": "18-24" “Purchase Times”: “Monday at 11:10
AM”, “Monday at 11:35 AM”
“Key Subject Line Phrases”: “Sale”,
“Discount”, “25% Off”
“FB Likes”: “Tennis”, “ATP” “Purchase History”: “Li-Ning Pro
Competition Tennis Shoes”
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What Li-Ning should have sent Tim
These sorts of tools can easily be integrated with your ESP and e-commerce platform. Setup is completely automated and only takes about 10 minutes.
Integrate With Your Current Tools
...and many more
Use your existing content to make the emails. You already have all the data needed to start optimizing your emails. Use tools to create a custom profile for each customer using data from your current Email Service Provider and E-Commerce platform. Look at: •Each customer’s purchase and click history •The subject lines of the emails each person clicked on •The time and day each customer opened your emails •Third party demographic data •Data from social media websites Continuously learn with every interaction, so the system keeps getting smarter.
How You Can Do It
Using data to optimize your marketing is no longer optional Ignore these concepts at your peril If you have the right tools in place, this will make your life easier not harder
Summary
EMAIL: [email protected] CELL: 202-431-5699 OFFICE: 312-569-9431 TWITTER: @SimpleRelevance http://www.simplerelevance.com
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