Adding Value to Data Services
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Adding Value to Data Services

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I presented this at an event hosted by Acxiom on 9th February to an audience of agencies, list brokers and data consultants. It considers options for how to develop business in this pressurised ...

I presented this at an event hosted by Acxiom on 9th February to an audience of agencies, list brokers and data consultants. It considers options for how to develop business in this pressurised sector. Take a look and let me know what you think.

If you would like me to give this presentation at your event - or to speak on another data-related subject - I am available for hire. Get in touch.

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    Adding Value to Data Services Adding Value to Data Services Presentation Transcript

    • STICK OR TWIST?Winning Strategies to Add Value to Data and Data Services David Reed, founder The Data Governance Forum www.datagovernor.co.uk
    • WHAT DO CLIENTS WANT?
    • WHAT DO CLIENTS WANT?• From marketing, from data, from you:
    • WHAT DO CLIENTS WANT?• From marketing, from data, from you: • More for less • Predictable. Flexible. Scalable • Intelligence. Delivery. Support
    • ARE WE STILL IN THE GAME?
    • ARE WE STILL IN THE GAME? Budget Changes in 2011 16% 37% 47% Increase Stay the same Decrease (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 366 respondents)
    • ARE WE STILL IN THE GAME? % Budget Share by Channel 15.4 Website 17.9 14.0 Direct Marketing 14.1 12.3 Email 12.5 12.8Live events/tradeshows/seminars 12.0 11.4 Press Advertising 9.5 9.4 Search 8.8 7.9 Other 8.8 7.7 Online Advertising 7.9 5.7 Social Media 6.4 6.9 Outbound Telemarketing 6.2 6.8 TV Advertising 5.8 2.6Webinars/webcasts/virtual events 2.7 2.9 Outdoor Advertising 2.6 1.7 Radio Advertising 2.2 0 5 10 15 20 Average share 2010 (%) Average share 2011 (%) (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 324 respondents)
    • ARE WE STILL IN THE GAME? % Budget Share by Channel 15.4 Website 17.9 14.0 Direct Marketing 14.1 12.3 Email 12.5 12.8Live events/tradeshows/seminars 12.0 11.4 Press Advertising 9.5 9.4 Search 8.8 7.9 Other 8.8 7.7 Online Advertising 7.9 5.7 Social Media 6.4 6.9 Outbound Telemarketing 6.2 6.8 TV Advertising 5.8 2.6Webinars/webcasts/virtual events 2.7 2.9 Outdoor Advertising 2.6 1.7 Radio Advertising 2.2 0 5 10 15 20 Average share 2010 (%) Average share 2011 (%) (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 324 respondents)
    • ARE WE STILL IN THE GAME? % Budget Share by Channel 15.4 Website 17.9 14.0 Direct Marketing 14.1 12.3 Email 12.5 12.8Live events/tradeshows/seminars 12.0 11.4 Press Advertising 9.5 9.4 Search 8.8 7.9 Other 8.8 7.7 Online Advertising 7.9 5.7 Social Media 6.4 6.9 Outbound Telemarketing 6.2 6.8 TV Advertising 5.8 2.6Webinars/webcasts/virtual events 2.7 2.9 Outdoor Advertising 2.6 1.7 Radio Advertising 2.2 0 5 10 15 20 Average share 2010 (%) Average share 2011 (%) (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 324 respondents)
    • ARE WE STILL IN THE GAME? Budget Change by Channel Website 44.5 43.9 6.4 1.7 Social Media 44.1 36.02.6 11.5 Email 43.2 48.4 3.22.3 Search 33.8 43.0 4.7 12.2 Online Advertising 27.8 39.9 5.9 18.3 Direct Marketing 21.6 41.9 17.1 9.9Live events/tradeshows/seminars 19.8 39.2 15.6 13.9Webinars/webcasts/virtual events 17.5 19.3 3.7 40.8 Outbound Telemarketing 15.7 29.2 5.1 36.7 Press Advertising 13.2 35.4 22.5 20.4 Other 6.5 26.5 6.0 32.1 TV Advertising 5.7 13.8 11.1 53.6 Radio Advertising 5.2 16.8 10.7 50.2 Outdoor Advertising 4.8 19.2 11.7 48.3 0 25 50 75 100 Increase Stay the Same Decrease Don’t Use (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 356 respondents)
    • ARE WE STILL IN THE GAME? Budget Change by Channel Website 44.5 43.9 6.4 1.7 Social Media 44.1 36.02.6 11.5 Email 43.2 48.4 3.22.3 Search 33.8 43.0 4.7 12.2 Online Advertising 27.8 39.9 5.9 18.3 Direct Marketing 21.6 41.9 17.1 9.9Live events/tradeshows/seminars 19.8 39.2 15.6 13.9Webinars/webcasts/virtual events 17.5 19.3 3.7 40.8 Outbound Telemarketing 15.7 29.2 5.1 36.7 Press Advertising 13.2 35.4 22.5 20.4 Other 6.5 26.5 6.0 32.1 TV Advertising 5.7 13.8 11.1 53.6 Radio Advertising 5.2 16.8 10.7 50.2 Outdoor Advertising 4.8 19.2 11.7 48.3 0 25 50 75 100 Increase Stay the Same Decrease Don’t Use (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 356 respondents)
    • ARE WE STILL IN THE GAME? Budget Change by Channel Website 44.5 43.9 6.4 1.7 Social Media 44.1 36.02.6 11.5 Email 43.2 48.4 3.22.3 Search 33.8 43.0 4.7 12.2 Online Advertising 27.8 39.9 5.9 18.3 Direct Marketing 21.6 41.9 17.1 9.9Live events/tradeshows/seminars 19.8 39.2 15.6 13.9Webinars/webcasts/virtual events 17.5 19.3 3.7 40.8 Outbound Telemarketing 15.7 29.2 5.1 36.7 Press Advertising 13.2 35.4 22.5 20.4 Other 6.5 26.5 6.0 32.1 TV Advertising 5.7 13.8 11.1 53.6 Radio Advertising 5.2 16.8 10.7 50.2 Outdoor Advertising 4.8 19.2 11.7 48.3 0 25 50 75 100 Increase Stay the Same Decrease Don’t Use (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 356 respondents)
    • ARE WE STILL IN THE GAME? Budget Change by Channel Website 44.5 43.9 6.4 1.7 Social Media 44.1 36.02.6 11.5 Email 43.2 48.4 3.22.3 Search 33.8 43.0 4.7 12.2 Online Advertising 27.8 39.9 5.9 18.3 Direct Marketing 21.6 41.9 17.1 9.9Live events/tradeshows/seminars 19.8 39.2 15.6 13.9Webinars/webcasts/virtual events 17.5 19.3 3.7 40.8 Outbound Telemarketing 15.7 29.2 5.1 36.7 Press Advertising 13.2 35.4 22.5 20.4 Other 6.5 26.5 6.0 32.1 TV Advertising 5.7 13.8 11.1 53.6 Radio Advertising 5.2 16.8 10.7 50.2 Outdoor Advertising 4.8 19.2 11.7 48.3 0 25 50 75 100 Increase Stay the Same Decrease Don’t Use (SAS: Winning in Today’s Economy with Multi-Channel Marketing - 356 respondents)
    • ARE WE STILL IN THE GAME?
    • ARE WE STILL IN THE GAME?•Budgets - 84% stable or rising
    • ARE WE STILL IN THE GAME?•Budgets - 84% stable or rising•Share - Direct mail + Email = 25% of spend
    • ARE WE STILL IN THE GAME?•Budgets - 84% stable or rising•Share - Direct mail + Email = 25% of spend•Change - Direct mail 63% stable or rising
    • ARE WE STILL IN THE GAME?•Budgets - 84% stable or rising•Share - Direct mail + Email = 25% of spend•Change - Direct mail 63% stable or rising•Change - Email 91% stable or rising
    • ARE WE STILL IN THE GAME?•Budgets - 84% stable or rising•Share - Direct mail + Email = 25% of spend•Change - Direct mail 63% stable or rising•Change - Email 91% stable or rising•Change - OBTM 45% stable or rising
    • ARE WE STILL IN THE GAME?
    • ARE WE STILL IN THE GAME?•Social media - the rise is dazzling, but from alow base. And who owns it?
    • ARE WE STILL IN THE GAME?•Social media - the rise is dazzling, but from alow base. And who owns it?•Mobile marketing - big expectations, bigproblems (cross-platform compatibility,consumer acceptance, etc)
    • STICK OR TWIST?
    • STICK
    • STICK•Prospect data:
    • STICK•Prospect data: •Direct mail - bottomed out, unlikely to regrow
    • STICK•Prospect data: •Direct mail - bottomed out, unlikely to regrow •Email - falling opt-in and opens, rising unsubscribe
    • STICK Issues:
    • STICK Issues:•Limited sources - who’scollecting data?
    • STICK Issues:•Limited sources - who’scollecting data?•Validation - EER Opt-out =45%
    • STICK Issues:•Limited sources - who’scollecting data?•Validation - EER Opt-out =45%•Coverage - consumeruniverses = 41M, but allmulti-sourced from same sets
    • STICK Issues:•Limited sources - who’scollecting data?•Validation - EER Opt-out =45%•Coverage - consumeruniverses = 41M, but allmulti-sourced from same sets•Lead generation - good for“hot leads”, but some sourcestoo hot to handle
    • STICK
    • STICK
    • STICK •Value over volume = intelligent play
    • STICK •Value over volume = intelligent play •Valued variables =renewal dates, permissions,purchasing intentions,“in market” indicators
    • STICK Variables in Single Customer View Customer name 92.7 Delivery address 34.1 Home address 63.4 Daytime phone number 90.2 Evening phone number 51.2 Mobile phone number 70.7 Email address 92.7 Web URL 31.7Purchase history by product 78.0 Purchase history by value 63.4 Contact history 78.0 Segment code 51.2 0 25 50 75 100 % hold on SCV (Source: Data Strategy, “State of the Nation 2010”)
    • STICK Variables in Single Customer View Customer name 92.7 Delivery address 34.1 Home address 63.4 “Often all we know about an individual is Daytime phone number 90.2 an appliance they Evening phone number 51.2 have.” - warranty insurance provider Mobile phone number 70.7 Email address 92.7 Web URL 31.7Purchase history by product 78.0 Purchase history by value 63.4 Contact history 78.0 Segment code 51.2 0 25 50 75 100 % hold on SCV (Source: Data Strategy, “State of the Nation 2010”)
    • STICK
    • STICK•Appending, cleaning,updating = value plays
    • STICK•Appending, cleaning,updating = value plays•Data + matching andmanagement + insight =premium value plays
    • TWIST Algorithms replacing data?
    • TWIST Algorithms replacing data?
    • TWIST Algorithms replacing data?•Online re-targeting(eg, myThings)
    • TWIST Algorithms replacing data?•Online re-targeting(eg, myThings)•“It’s like playing pinball withyour customers.” - KarenMillen
    • TWIST Algorithms replacing data?•Online re-targeting(eg, myThings)•“It’s like playing pinball withyour customers.” - KarenMillen•“These are qualified leadsthat are a lot more valuablethan general visitors.” - KarenMillen
    • TWIST Algorithms replacing data?
    • TWIST Algorithms replacing data?•Issues:
    • TWIST Algorithms replacing data?•Issues: •EC review of cookies could kill this stone dead in Europe
    • TWIST Algorithms replacing data?•Issues: •EC review of cookies could kill this stone dead in Europe•Opportunities:
    • TWIST Algorithms replacing data?•Issues: •EC review of cookies could kill this stone dead in Europe•Opportunities: •Data owners + ad networks + marketing agencies = value play
    • TWIST Data drives relevance 1.
    • TWIST Data drives relevance 1.•Most used, least definedconcept in marketing
    • TWIST Data drives relevance 1.•Most used, least definedconcept in marketing•“Relevance can be a databrief.” - Lloyds BankingGroup
    • TWIST Data drives relevance 1.•Most used, least definedconcept in marketing•“Relevance can be a databrief.” - Lloyds BankingGroup
    • TWIST Data drives relevance 1.•Most used, least definedconcept in marketing•“Relevance can be a databrief.” - Lloyds BankingGroup •Closed loop targeting, tracking and measurement is more likely to move the brand closer to its customers than just building targeting or propensity models. Demands richer data and enhancement with data linked into operational delivery.
    • TWIST Data drives relevance 1.
    • TWIST Data drives relevance 1.•Issues:
    • TWIST Data drives relevance 1.•Issues: •Clients wary of opening ops to all but largest partners
    • TWIST Data drives relevance 1.•Issues: •Clients wary of opening ops to all but largest partners•Opportunities:
    • TWIST Data drives relevance 1.•Issues: •Clients wary of opening ops to all but largest partners•Opportunities: •Supporting evidence- based decision-making
    • TWIST Data drives relevance 2.
    • TWIST Data drives relevance 2. •“We might have got approval for increased spend based on ‘gut feel’ or ‘instinct’ – now we know what to spend, who to target and the return for the organisation.” - RIAS
    • TWIST Data drives relevance 2. •“We might have got approval for increased spend based on ‘gut feel’ or ‘instinct’ – now we know what to spend, who to target and the return for the organisation.” - RIAS
    • TWIST Data drives relevance 2.
    • TWIST Data drives relevance 2.•Data refreshes + dynamiccreative = relevance
    • TWIST Data drives relevance 2.•Data refreshes + dynamiccreative = relevance•Relevance = value play
    • TWIST Data drives relevance 3.
    • TWIST Data drives relevance 3.•One quarter of consumers withholdpermission to email even from companies theyalready have a relationship with.
    • TWIST Data drives relevance 3.•One quarter of consumers withholdpermission to email even from companies theyalready have a relationship with.•The wording of privacy statements is thefrontline for relevance.
    • TWIST Data drives relevance 3.•One quarter of consumers withholdpermission to email even from companies theyalready have a relationship with.•The wording of privacy statements is thefrontline for relevance.•Making these statements more engaging couldreduce opt-out rates by as much as 17 percent (DMA Data Tracker Study).
    • TWIST
    • TWIST
    • TWIST
    • TWISTLead nurturing (transfer from B2B)
    • TWISTLead nurturing (transfer from B2B) •Long lifecycle buys - tracking prospects from cold to warm - incremental relevance
    • TWISTLead nurturing (transfer from B2B) •Long lifecycle buys - tracking prospects from cold to warm - incremental relevance •Reed Business Information increased conversion by 1.2%, sales opportunities by 50%, qualified lead volumes by 42%
    • TWISTLead nurturing (transfer from B2B) •Long lifecycle buys - tracking prospects from cold to warm - incremental relevance •Reed Business Information increased conversion by 1.2%, sales opportunities by 50%, qualified lead volumes by 42%
    • TWISTLead nurturing (transfer from B2B)
    • TWISTLead nurturing (transfer from B2B)•Issues:
    • TWISTLead nurturing (transfer from B2B)•Issues: •Pressure for short sales cycles to hit targets
    • TWISTLead nurturing (transfer from B2B)•Issues: •Pressure for short sales cycles to hit targets •Short-term memory and staffing - how many B2C marketers are still in post after 12 - 18 months?
    • TWISTLead nurturing (transfer from B2B)•Issues: •Pressure for short sales cycles to hit targets •Short-term memory and staffing - how many B2C marketers are still in post after 12 - 18 months? •Requires data + modelling + technology
    • TWISTLead nurturing (transfer from B2B)
    • TWISTLead nurturing (transfer from B2B)•Opportunities:
    • TWISTLead nurturing (transfer from B2B)•Opportunities: •Cost savings for client by avoiding repeated purchases of same prospect names
    • TWISTLead nurturing (transfer from B2B)•Opportunities: •Cost savings for client by avoiding repeated purchases of same prospect names •Premium for supplier from lead nurturing engagement
    • TWIST Time to get handcrafted?
    • TWIST Time to get handcrafted?
    • TWIST Time to get handcrafted?•Issues:
    • TWIST Time to get handcrafted?•Issues: •Very limited application (00s, not Ks)
    • TWIST Time to get handcrafted?•Issues: •Very limited application (00s, not Ks) •Data scraping is a grey area
    • TWIST Time to get handcrafted?•Issues: •Very limited application (00s, not Ks) •Data scraping is a grey area•Opportunities:
    • TWIST Time to get handcrafted?•Issues: •Very limited application (00s, not Ks) •Data scraping is a grey area•Opportunities: •Very relevant for high value products
    • TWIST Time to get handcrafted?•Issues: •Very limited application (00s, not Ks) •Data scraping is a grey area•Opportunities: •Very relevant for high value products •Creativity + data + relevance = premium value play
    • STICK OR TWIST?
    • QUESTIONS? davidreed@datagovernor.co.uk 01449 677554