What is predictive analytics? How can retailers harness big data to drive sales? And how does data privacy fit into all this?
Welcome to Authintic, analytics technology for permission marketing. Want more sales from site and social? Read on.
2. In 2012, Target sent baby product coupons to a
teenage girl in Minneapolis*.
Her father angrily asked the store manager, “Are
you trying to encourage her to get pregnant?”
*Source: http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?smid=pl-share
3. Two days later when the store manager followed up,
the father had a surprising response.
“She’s due in August.
I owe you an apology.”
4. Marketers were vocal with their disapproval.
“Privacy breach...”
“...Disturbing”
“Creepy...”
6. Why is this valuable? Because people buy on
habit. And outside of a few brief windows in
life, it’s hard for marketers to break those habits.
The early days of parenthood are one of
those windows. The key is to reach them
before the baby is born and the parents
get flooded with advertising.
Enter predictive analytics. Target’s data scientists
built a model to identify pregnant women based on
purchases like unscented lotions and
soaps (2nd trimester), hand sanitizers
and washcloths (3rd trimester).
7. Big retailers now have data scientists on staff
turning data into recommendations to drive sales.
data
recommendation
shopper recommendation
engine
8. “It’s like an arms race
to hire statisticians
nowadays.”
- Andreas Weigend, former Chief Scientist, Amazon
9. Three companies used predictive analytics to
redefine retailing for books, movies, and music...
...while others are simply storing data or following
dashboards. What does it take to do big data right?
10. Making data work takes three disciplines pursuing
the same goal under one roof.
Data
Technology Marketing
Sciences
And you need the right data. On the right terms.
What does that mean? ...
11. Seth Godin summarized it best in his 1999 book
Permission Marketing. The strongest messages are
relevant
personalized
anticipated
12. The best data is private. It
requires permission.
Scraped data isn’t often
accurate or complete. And
cookies are more than
just creepy - The Federal
Trade Commission and
the EU are clamping down
hard on privacy policies.
Respect for privacy is one of our founding pillars.
Want proof? Our Chief Science Officer helped write
the privacy act for the Digital Analytics Association.
13. The auth-in is the key. Really valuable data can’t be
scraped or bought; it needs to be user-authorized.
auth-in
data
recommendation
shopper recommendation
engine
14. Will people auth-in? Yes, if they find value. eMail
marketing and loyalty programs prove it.
How many of your fans and customers will auth-in?
Every brand is different. We’ll find out before we
build anything.
15. Auth-in... authentic data... see what we did there?
Welcome to Authintic. We are Analytics technology
for permission marketing.
more sales from site and social
16. Andrew Cherwenka
CEO
Our CEO was an agency exec handling digital for the world’s top brands.
He has been working closely with Facebook since 2007.
17. Christopher Berry
Chief Science Officer
Our Chief Science Officer is a rare breed of data scientists. He’s a pioneer
in making unstructured social data useful while respecting privacy.
18. One size rarely fits all in retail. Even less so with
predictive analytics. Here’s how we handle every
engagement.
Step 1: Assess. Before committing to anything, let's see how
predictive analytics can help you. We'll cover off a series of question sets
used to identify opportunities in driving more sales from your site and your
social presence.
Step 2: Analyze. If the assessment uncovers opportunity then we'll
take a sample dataset to see what evidence stands out. Can social behavioral
data drive sales? Is Facebook a valuable channel? It could be as simple as
inviting your fans into your email channel or as intimate as serving them
personalized recommendations on any device.
Step 3: Implement. This could be anything from a report to a
recommendation engine built as a stand-alone plug-in. But you don’t commit
to anything until the assessment and analysis shows it makes sense.
19. Interested? Let’s talk.
Andrew Cherwenka Christopher Berry
Co-Founder, CEO Co-Founder, Chief Science Officer
cell: 647.455.1352 cberry@authintic.com
acherwenka@authintic.com
www.authintic.com