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Customer Data Research, Acquisition, Segmentation

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Title: Customer Data Research, Acquisition, Segmentation


1
Customer Data Research, Acquisition, Segmentation
Targeting Tactics
  • Mark Woodcock
  • MRM Worldwide

2
During the next 50 minutes .
  • The Value of Measurement
  • Getting Started
  • Data Acquisition, Segmentation, Targeting,
    Testing and Optimization Basics
  • Case Study
  • Delivering Results
  • Questions

3
Lets Begin!
4
The Value of Measurement
5
Why Measure?
  • You cant manage what you cant measure

6
Mission Critical
Data and Analytics is more critical now than any
time before
Top Marketer Issues in 2008
1) Integrated marketing communications
2) Accountability and ROI
2 issue!
Source Association of National Advertisers
andBooz Allen Hamilton, 2008 survey conducted
among 157 ANA-member marketers
7
Critical and yet we are not delivering
Dissatisfied
Ability to Measure Marketing ROI
93
Understand Sales Impact of Marketing
55
Source ANA 2007 Accountability Study
8
No Wonder!... Because we cant even agree on the
definition
Dissatisfied
Ability to Measure Marketing ROI
93
Understand Sales Impact of Marketing
55
Ability to Agree on Definition of ROI
40
Source ANA 2007 Accountability Study
9
Is this you?
In response to a question about how budgets are
allocated across different media, 80 percent of
the respondents say that their companies either
use qualitative measurethat is, subjective
judgmentsor simply repeat what they did last
year.
McKinsey, 2008 Survey of Digital Advertising
10
I already have reports!
  • E.g Web Traffic Reports
  • Traffic volume matters only if visitors engage
    with the site
  • Time and PV / Visit are ambiguous metrics
  • Can signal success visitors engaging with site
    content
  • Can signal a problem visitors cannot find what
    the need

11
But my campaigns are great already!
  • You run a non-segmented marketing campaign
  • Success 20 uplift versus your last campaign!

Could it have been even better?
  • New versus returning Visitors
  • Frequency of Re-visit
  • Customers versus Prospects
  • Paid versus Non-Paid Traffic
  • Week day versus weekend traffic
  • Referral Source
  • How about Targeting based on known differences
    and similarities

Take action based on insight and drive more
targeted marketing programs!
12
I dont want to know what isnt working
because it means I have to fix it
13
Why is Accountability Critical?
85 Billion reasons
  • Every year 85 Billion is wasted in advertising
  • Briggs and Greg Stuart - What Sticks

Or in other words 37 of all advertising spend!
14
So .
  • Its obvious WHY we need to measure
  • . but its not always as obvious WHAT needs to
    be measured and HOW to action those results

15
Getting Started - The Basics
16
There are many channels out there
17
Digital offers the best opportunity for
optimization!
Past
Present
DIGITAL
BROADCAST
10,000s
100s
Media Options
10,000s
1,000,000s
Program reach
1,000s
1,000,000s
Test Cost
Days
Months
Test Duration
  • Lower investment
  • Test and learn
  • High investment
  • Pre-testing

18
The Hypothesis
Not everything that can be counted counts, and
not everything that counts can be
counted. Einstein
19
What to measure?
  • What metrics am I going to report on?

Wheres my data coming from?
Definitions and Formulas
Benchmarks, Trends and Distributed Averages
Metrics to help by improve business!
20
Social Media Our Approach
The Key Essentials
Not everything that can be counted counts, and
not everything that counts can be counted.
Einstein
Define Goals Objectives! Assess tracking
measurement requirements
1
.
Develop key follow-up actions to drive ongoing
marketing strategy
2
5
Align goals objectives and map these to your
marketing activities
3
Aggregate standardize data from all required
Sources
Insights Reporting Present your results
4
Measure to Obtain Actionable Insights for driving
Objectives
21
The Right Metrics
Align your metrics to the business model and
those dependant on your reports!
Consider linkage across the measurement dimensions
Reach
Engagement
Efficiency
Return
22
Anyone for Objectives?
What are yours?
  • Drive SALES
  • Increase MARKET SHARE
  • Improve RETURN PER CUSTOMER
  • Increase REACH
  • Track AFFINITY, LOYALTY, PERCEPTION, OPINIONS
    about your Brand, Products, Services and
    Marketing Activities
  • Understand BARRIERS TO CONVERSION
  • OPTIMIZE MARKETING SPEND
  • DIFFERENTIATEand DISCRIMINATEfor Optimal Customer
    Connection
  • Know HOW WHERE our visitors are coming from
  • Understand WHY they want to interact and what
    they EXPECT from the relationship with you
  • How they RESPOND REACT to messages and
    promotions
  • How they NAVIGATE in your websites
  • How they FIND INFORMATION
  • Do they VALUE content (Relevancy) that youre
    providing them with?
  • Their OPINION about you and your products

Define and agree Objectives as a first step!
23
Align metrics with Objectives
ACTIVITIES
METRICS TAXONOMY
ACTIVE
Evangelize
  • Word of Mouth
  • Recommendation
  • Discussion Volume
  • Recommendation Rate

Create
  • Post on blog
  • Upload images, videos
  • Online buzz
  • Sentiment

Share
  • Send to a friend
  • Review comment
  • Viral Rate
  • Response Rate

Respond
  • Info Request
  • Post comment
  • Coupons
  • Open Rate
  • Response Rate
  • Redemption Rate

PASSIVE
Interact
  • Videos
  • Demos
  • Webcasts
  • Initiations
  • Completions
  • Time

View
  • Ad exposure
  • Web Site Exposure
  • Impressions
  • Clicks
  • Page Views

24
The Measurement Plan
  • Start Simple

25
Evolving the Measurement Plan
  • And evolve.

As your Digital Strategy evolves, review your
measurement needs
26
Benchmarks
27
Tools of the trade
28
Data Acquisition
29
Consider your Data Opportunities
  • What do you really need and where is it coming
    from?
  • Will it provide the data you need to
  • measuring your objectives?
  • Website
  • Social Networks
  • Mobile
  • Telemarketing
  • Rented and Bought Lists
  • Overlays
  • Incremental Research

new sources of data
get a more complete picture
Synergize Data Collection Efforts
30
Incremental Research Opportunities
  • Set Research Objectives First

Determine what you need and why before you embark
on your research
Increasing Certainty of the Problem
Exploratory
Descriptive
Causal
Channels
Methodology
Question Design
How am I going to use the data once I have
collected it?!
Consider the value exchange why would I want to
give you information? WIIFM?
31
Data Preparation and Readiness
  • Bringing it together

Dont under-estimate the work involved pulling
multiple, disparate data sources together
Long term or short-term approach?
Plan for Data Collection, Format consistency
32
Data Governance
  • It might seem obvious

but ensure youre adhering to data legislation
and compliance rules
33
Data Segmentation, Targeting and Testing
34
Media Advertising Evolution
35
A number of potential actions
Customers(millions)
Timing(any day/time)
Offers(hundreds)
Channels(multiple)
Phone/Wireless
1 Mon 3/1 2 Wed 3/10 3 Tue 3/16 4 Mon
3/24 5 Fri 4/6
Mail
WWW/eMail
Store
Broadcast
Minimum Mail Run
Lifestyle Needs
Budgets
Rules Constraints
Contact Preferences
Product Targets
Call Center Capacity
Which ones are best?
36
How about your customer journey?
Using analysis to drive it to find the barriers
and levers!
Prospect
Customer
Acquisition
Growth
Retention and Loyalty
Service
Win-back
  • Segmentation
  • Predictive Modeling
  • Geo-Targeting
  • Media Mix Optimization
  • Cross-Sell/Purchase Propensity
  • Product Purchase Sequencing
  • Up-sell Propensity
  • Lifetime Value Analysis
  • Attrition Analysis
  • Contact Cadence
  • Loyalty Framework
  • Rapid Cycle Testing Lab
  • Channel Optimization
  • Value Optimization
  • Local Area Density Mapping
  • Value based models
  • Lifetime Value Analysis

37
Importance of segmentation
Needs, Attitudinal, Psychographic, Lifestyle,
Life Stage, Demographic/Socio-Economic,
Geographic, Required Benefits , Historical
Engagement, Perceived Future Value, Behavioral,
PPC Keywords, Cadence
Where do we start?
There are no obvious answers.
But there are very obvious questions.
What is this customer telling you they want and
what theyre thinking ?.. and are you there to
listen?
38
Segmentation allows you to go from this
39
to this
Segmentation can help to identify opportunities
which can then help optimization
40
Allows you to move from this
Marketing to the haystack hoping the needle sees
your ad!
41
to Fishing where the Fish are
Targeted Brand Campaigns
Segmentation allows you to better target your
customers and brand advocates
42
Testing is an Imperative
  • Prioritize Investment in Tests Based on Impact
  • Low hanging fruit and maximum bang for the
    buck...!
  • .. as aligned to business objectives!

43
What to test?
50 Off
Afternoon
25,000
Weekly
10,000
Buy One, Get One Free
Monthly
Morning
EDM
Christmas Special
142,000
Bi-weekly
Evening
Direct Mail
Interest Free Payment
Telemarketing
Quarterly
MEDIA
AD FORMAT
CREATIVE
SITE
Weekend
60,000
Mobile
Weekday
Exclusive Member Offer
Channel Test
Cadence Test
Offer Message Test
  • Whats the right number of contacts?
  • Whats the optimal channel mix?
  • Whats the right offer?
  • Whats the right message?
  • Whats the right timing for a contact?

44
Digital Testing Approach
A / B Testing
Test Elements
Headline Copy Call to Action Offers Layouts Images
Rich Media Surveys Tools Registration
Form Linking
  • Single site change assessed vs. existing strategy
  • Simultaneous execution to control for traffic
    quality and time effects
  • A-B-A methodology to ensure stability in results

Multivariate Testing
  • Simultaneous testing across multiple site
    elements 1000s of unique combinations

45
Optimizing your Digital Presence
  • What content is resonating with your audience?
  • Is your website navigation and layout optimized?

46
Website Test Approach
46
POTENTIAL TEST STRATEGIES
Alternative Images
More Dynamic Animation
Alternative Placement
Graphical Treatment
Number of Content Areas
47
Measure Impact of Changes
Testing Optimization leads to measurable
increase in overall Engagement
48
Website Key Metrics
Basic Site Metrics Diagnostics
Content Consumption
  • Invest in assets that drive conversion
  • Avoid excess content that may confuse navigation

Unique Visitors
Visitors
Page Views
Time
Exit Pages
Abandonment Rate
Abandonment Rate
  • Track abandonment rate across content elements to
    isolate opportunities to eliminate leakage

Navigation
Reverse Path Analysis
Content Consumption
Registration Drop-off
49
Engagement
HIGHER VALUE
Widgets, Download apps
Extend
Profiles, Upload pictures
Create
Send to friend, Social media
Share
Site Engagement Value Continuum
Signup, Email, Coupon
Request
Rate, Vote, Add comments
Respond
Play videos, Demos
Interact
View
Content, Pictures
LOWER VALUE
50
Integrating Digital Analytics connecting the
dots
Dummy Data
51
Integrating Digital Analytics connecting the
dots
Reflecting actual conversions against each media
placement.
Use the right metrics to optimize
Dummy Data
Metrics should tell us if each media bought, has
effectively driven users to identified Calls to
Action (conversion points).
52
Reporting
53
What to show?
  • Know your audience

54
Data Visualization is IMPORTANT
  • How you present your results can sometimes be
    just as important as the results themselves!

Trends
Changes
Averages
Benchmarks
Distributions
55
Stand alone metrics Meaningless
  • Benchmarks
  • Segmentation
  • Behavioral (Content Consumption)
  • Traffic Drivers
  • Goal Conversions
  • Engagement

Page Views 800,000
Unique Visits 70,000
Dont just report data!
56
Not an analytics replacement!
  • Dashboards facilitate analysis
  • But youll still need to produce the insights

Analysis
Data Cleansing
Business Insight
DATA
STRATEGY
57
Complementing your analytics efforts
WHAT IT DOES
WHAT IT DOES NOT DO
  • Raise the right questions across core business
    drivers
  • Attempt to answer every possible business question

Insight
  • Integrate key metrics into an information platform
  • Replace all existing reports

Scope
  • Ensure better leverage of existing data
  • Create new data sources or methodologies

Innovation
58
Summary
59
Social Media Our Approach Customer Data
Research Acquisition Segmentation Targeting
Tactics - Mark Woodcock (Final)
The Key Essentials
Not everything that can be counted counts, and
not everything that counts can be counted.
Einstein
Define Goals Objectives! Assess tracking
measurement requirements
1
.
Develop key follow-up actions to drive ongoing
marketing strategy
2
5
Align goals objectives and map these to your
marketing activities
3
Aggregate standardize data from all required
Sources
Insights Reporting Present your results
4
Measure to Obtain Actionable Insights for driving
Objectives
60
Enjoy Accountability!
61
Questions
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