Rom Krupp, Marketing Vitals - Leveraging The Right Analytics To Be Competitive Today With Big Data
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You hear the term "big data" a lot these days – but do you know what big data actually is? Join Rom Krupp from Marketing Vitals for a presentation that will leave you with a better understanding of how it's changing marketing and how companies need to be aware of what’s happening in big data and predictive analytics in order to view their business and customers in a whole new way.
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Rom Krupp, Marketing Vitals - Leveraging The Right Analytics To Be Competitive Today With Big Data
- 1. THE NAME OF YOUR PRESENTATION 1 ““Half the money I spend on advertising is wasted; the trouble is I don't know which half.” John Wanamaker
- 3. Meet Meghan How much do you make? Where do you live? What's your email? How did you hear about us? How old are you? Can we call you?
- 7. Meet Ethan Responds to digital adv. Works near our store Likes fashion Occupation: Software Developer Interests: Gaming, Sports, Fashion Motivation: Value based offers Status: In a relationship & its complicated
- 8. The future of marketing is Interception
- 9. Ethan’s Thursday's Journey At the Game Interception #2 Great game, come celebrate the win with an IPA beer, happy hour is extended till midnight! There is still time to make a Reservation for dinner at 6:30. After your meal leave your car in our parking and walk to the stadium, parking is free! Interception #1 Got off work On my way to the game On my way home
Editor's Notes
- Correlation vs. Causation - Big Brother vs Big Data - Big brother monitors purchasing behavior for the benefit of controlling you - Big data should reverse that mentality…the goal is to reduce cost to the consumer - What’s in it for me? Consumer – reduce cost Marketer – consumers opt in - What is the purchase behavior you want for the what it is costing you (tv/radio ads)? - If the consumer opts out was your message relevant?
- Use info you already have to build that long term relationship Date them before you marry them
- - Possibility vs probability vs quite likely - Asking less and gathering more
- Results don’t tell the story Baseball analogy – picture of baseball Do we need to change our KPIs to get what we want to get out of them? Positive might not always be good and negative might not always be bad
- We all want 1 to 1 marketing but it is unmanageable Who monitors it? Executed how?
- Acquisition vs interception When, What & Time Hope is not a strategy – If I do this then I hope the consumer will visit us
- - Who to send the message to, when to send the message to intercept the consumer…don’t give your competition a chance - Switch from Awareness and Acquisition based marketing - Teething medicine when needed