Evolving Your Email Targeting for Increased Revenue
 

Evolving Your Email Targeting for Increased Revenue

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To get better campaign results, every marketer uses targeting and personalization; however most fail to maximize their program’s impact. ...

To get better campaign results, every marketer uses targeting and personalization; however most fail to maximize their program’s impact.

In this webinar, we share insights and strategies to help you delight your email subscribers. You'll learn:

How one brand made one simple change that increased click-throughs by 33%
How some leading brands are evolving their targeting with predictive analytics
Common pitfalls on the road to predictive targeting

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Evolving Your Email Targeting for Increased Revenue Evolving Your Email Targeting for Increased Revenue Presentation Transcript

  • Evolving your email targeting for increased revenue Julie Anne RedaVP of Product Strategy, Yesmail Stephen YuVP of Data Strategies, Infogroup
  • What We Will Cover Today• The marketing landscape• The evolution of targeting• Next Steps / Takeaways Yesmail Confidential 2
  • Consumershavechanged… Yesmail Confidential 3
  • Standards are higher Source: DMA, Jan 2012; MyBuys & eTailing Group, June 2011 Yesmail Confidential 4
  • Most Desired Marketing Capability97% of marketers saidthe following was highly orsomewhat valuable• better targeting through more detailed customer preferences• delivering real-time personalized offers Source: RSR Research, Dec 2011 Yesmail Confidential 5
  • Consumers’ expectations for marketing Yesmail Confidential 6
  • To use data successful, marketers mustExcel in: 1. Data Collection 2. Data Refinement 3. Data DeliveryProvide marketing answers,not just dataTo be effective you must knowhow to wield the power of allavailable data faster. Yesmail Confidential 7
  • Example – StudentBeans.com• UK-based student portal• Welcome campaign based on offers• Offers selection criteria – Popularity – Profitability• Customized on – Sex of the subscriber – Location Source: MarketingSherpa Yesmail Confidential 8
  • Example – StudentBeans.com Use Orange Links instead of Blue 33.9% increase in click-through rate for men (up from 4.49% to 6.01%) Negligible increase in click-through rate for women Yesmail Confidential 9
  • But gettinga clearpicture isdifficult… Yesmail Confidential 10
  • 74% of marketersare collectingdemographic data64% are collectingtransactional dataBut…. Source: BRITE and NYAMA, Marketing ROI in the Era of Big Data, Yesmail Confidential 11 Mar 2012
  • Challenges Source: BRITE and NYAMA, Marketing ROI in the Era of Big Data, Mar 2012 Yesmail Confidential 12
  • Not only that…. Yesmail Confidential 13
  • Evolution of Targeting• Demographic• Attitudinal• Transactional• Predictive Yesmail Confidential 14
  • Predictive Analytics
  • The Power of PredictionMarketing Programs that use predictive analyticsreceive – 76% increase in click-through rate – 73% increment sales liftSource: Aberdeen Group, Predictive Analytics for Sales andMarketing, Jan 2012 Yesmail Confidential 16
  • • No guessing game – You MUST know your target• Vast amount of online & offline data collectedBut are they being usedproperly? Yesmail Confidential 17
  • • Analytics play a huge roles in prospecting & CRM• Short paced marketing cycle getting shorter• Huge difference between advanced marketers and those who are falling behindWinners are the ones whowield the power of allavailable data faster. Yesmail Confidential 18
  • “Analytics” means different things…• BI (Business Intelligence) Reporting• Descriptive Analytics• Predictive Modeling• OptimizationPredictive Modeling for1-to-1 Marketing Yesmail Confidential 19
  • Why Model• Increase Targeting Accuracy• Reduce costs by contacting less/smart• Stay relevant• Consistent results• Reveal hidden patterns in data• Repeatable – key for automation• Expandable• “Supposedly” save time and effort Yesmail Confidential 20
  • Why not• Universe is too small• Predictable data not available• 1-to-1 marketing channels not in plan• Tight budget• Lack of resources Yesmail Confidential 21
  • Common Barriers to Analytics and Modeling Are not familiar with selection or modeling techniques • Just need marketing answers Have a limited budget • Can’t afford expensive custom models Don’t have time to develop custom models • Tight deadlines but still need campaigns to perform Employ non-traditional and online channels • Need new forms of data delivery Yesmail Confidential 22
  • TargetReady Models• Games are different now • Not ranking “Customers” for 1 Merchant at a time any more • Customize offers & products for 1 Customer at a time now• Speed is the name of the game• Pre-built “Marketing Answers” for Immediate Delivery• Categorical ModelsTargetReady Models: Pre-developed categorical models that are ready for immediate deployment Yesmail Confidential 23
  • Key Benefits of TargetReady Models• Provide “Marketing Answers”: No need for users to plow through sea of data• Extensive Category List & Coverage: Covers Behavioral & Attitudinal Elements (over 90 categories) A score for every household, for every category• Pre-built for Immediate Deployment: No time to wait for custom models• Significant Cost Savings: No upfront development cost, pay as you use it• Simple to Use: 9 means good, 0 means bad Yesmail Confidential 24
  • TargetReady Models: Perfect balance Yesmail Confidential 25
  • Example of TargetReady Models26 Yesmail Confidential 26
  • Next Steps
  • Building a Better Targeting Program1. Build a comprehensive and progressive profiling strategy and process2. Use analytics to match profiles to content and desired behavior3. Test for statistical significance4. Optimize automation5. RepeatBe subtle! Yesmail Confidential 28
  • Introducing Personalization Ready Models• Data service provided in conjunction with Infogroup• Industry-specific bundles• Benefits – Convenience – Frequently updated – Includes TargetReady • Predictive attributes without the cost Yesmail Confidential 29
  • Target in confidence• Trusted 85% of Fortune 100 • Derived from Infogroup’s Consumer Database• Permission based and publically available data • Consumer database is updated every month– Over 100 attributes – 210 million individuals within 115 M households Yesmail Confidential 30
  • Conclusion 1 Start Small 2 Test and Repeat 3 Integrate into Overall Program Yesmail Confidential 31
  • Thank you!Questions? – Marketing@yesmail.com