Organizing for Customer Data Management

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If good quality data is important why isn't everyone doing it? The answer lies in organizing for data management. This slideshare from my eMetrics presentation 6/11/2013 in Chicago shows how it is …

If good quality data is important why isn't everyone doing it? The answer lies in organizing for data management. This slideshare from my eMetrics presentation 6/11/2013 in Chicago shows how it is done and the underlying research behind my recommendations. Also discussed are the importance of strategy decisions on customer data management.

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  • 1.  Copyright by Debra Zahay 2013 Organizing for Customer Data Management Dr. Debra Zahay Professor and President, Zahay, Inc.
  • 2.  Copyright by Debra Zahay 2013 Starting Question: What is the relationship between Customer Information Management and Firm Performance?
  • 3.  Copyright by Debra Zahay 2013 Customer Information Management Breeds Success
  • 4.  Copyright by Debra Zahay 2013 My Journey Studying Customer Data Management Information Systems Sales/Marketing /Databases IMC & More Databases ???? Ph.D.
  • 5.  Copyright by Debra Zahay 2013 Research Scope 1998-2013 • Over 400 companies • Over ten years of research • B2B and B2C • Qualitative and Quantitative • 20 academic papers • Over 500 citations (Debra Zahay on Google Scholar)
  • 6.  Copyright by Debra Zahay 2013 Over 500 Article Citations
  • 7.  Copyright by Debra Zahay 2013 Editor: Journal of Research in Interactive Marketing
  • 8.  Copyright by Debra Zahay 2013 Textbook Co-Author
  • 9.  Copyright by Debra Zahay 2013 Titles have changed, basics are the same Buzzwords: Database Marketing, Direct Marketing Payton, F. & Zahay, D. L. (2003). Understanding Why Marketing Doesn't Use the Corporate Data Warehouse for CRM Applications. Journal of Database Marketing, 10 (4), 315-326. Zahay, D. L. & Griffin, A. (2003). Information Antecedents and Consequences of Personalization and Customization in Business- to-Business Service Markets. Journal of Database Marketing, 10 (3), 255-271- 326.
  • 10.  Copyright by Debra Zahay 2013 We want to find best customers, treat segments differently Buzzwords: Customer Relationship Management/Marketing Zahay, D., Peltier, J., & Krishen, A. (2012). Building the Foundation for Customer Data Quality in CRM Systems for Financial Services Firms, Journal of Database Marketing and Customer Strategy Management formerly Journal of Database Marketing, Vol. 19 (1), pp. 5- 16.
  • 11.  Copyright by Debra Zahay 2013 Data Analytics is “Now” Buzzwords: Marketing Data Analytics, Big Data Peltier, J., Zahay, D. & Krishen, A. (2013). A Hierarchical IMC Data Integration and Measurement Framework. The Journal of Marketing Analytics, formerly Journal of Database Marketing and Customer Strategy Management, Vol. 1, 1, 32-48.
  • 12.  Copyright by Debra Zahay 2013 Research Issues Covered • Customer Data Management Practices and Measurement • Data Management/Performance Relationship • Customer Data Quality • Organizing for data quality • Personalization and customization • Transactional vs. relational data, differences, contribution to performance
  • 13.  Copyright by Debra Zahay 2013 Study No. Description 1 Quantitative survey with 209 insurance and software b2b marketers of customer information management practices and link to strategies and performance 2 Series of focus groups in a single health care payer regarding implementation of a corporate data warehouse for marketing purposes 3 Follow-on qualitative study with respondents to Study 1 and one other firm, uncovered organizational factors in customer information management to test in Study 4 4 Quantitative pre-test of important organizational factors in customer information management success in 43 firms across all industries 5 Series of interviews with marketers in the new product area, primarily, software and chemical, on customer information management needs, follow on survey 6 Quantitative survey 166 executives in Financial Services, both B2B and B2C, included organizational factors, data quality and performance (Latest work)
  • 14.  Copyright by Debra Zahay 2013 Companiesmustconsiderhavingthreecapabilitiesto manage customerinformationwell: 1. A corporate strategy consistent with data collected 2. A clear mission and vision for data collection and use 3. Shared data and organizational cooperation
  • 15.  Copyright by Debra Zahay 2013 Companiesmustconsiderhavingthreecapabilitiesto manage customerinformationwell: 1. A corporate strategy consistent with data collected 2. A clear mission and vision for data collection and use 3. Shared data and organizational cooperation
  • 16.  Copyright by Debra Zahay 2013 BasicResearchProcedure: 1. Create a theoretical framework 2. Develop hypotheses 3. Determine how to measure
  • 17.  Copyright by Debra Zahay 2013 Managing CustomerInformation Customer Information System 1. Get 3. Move 2. Store 4. Use 1. Acquisition, Specificity and Quality 3. Dissemination 2. Addressability 4. Shareability Competitive Advantage Managerial Focus
  • 18.  Copyright by Debra Zahay 2013 StrategyTrumps All in Termsof Performance .38** .19** .14* .25** * p <.05, 2 tailed ** p < .01, 2-tailed .30** .20** .17** .17** .17** Strategic Excellence Personali- zation Customi- zation CIS Customer Performance Business Unit Performance N=206
  • 19.  Copyright by Debra Zahay 2013 CIS Thirty-item Customer Information System (CIS) Scale4. Shareability 3. Dissemination 2. Addressability 1a.Specificity 1b. Quality Person Specific - Sales Quality Time Specific Person Specific- Marketing Database Capabilities Knowledge of Share of Wallet Shareability Info Within Unit
  • 20.  Copyright by Debra Zahay 2013 Is Data Quality Bigger than Big Data? • 53% of companies in the recent TDWI (The Data Warehousing Institute) study reported they have suffered losses, problems, or costs due to poor data quality (Quaero, December 2012) • Moveo Integrated Branding, February 2013 • Customers report 23% undeliverable emails • 11% Duplicate records • 54% phone numbers “unconnectable” • Poor quality data is the biggest barrier to effective email marketing: Econsultancy Report, April 2013
  • 21.  Copyright by Debra Zahay 2013 So if everyone knows data quality is important, why isn’t it being done?
  • 22.  Copyright by Debra Zahay 2013 Companiesmustconsiderhavingthreecapabilitiesto manage customerinformationwell: 1. A corporate strategy consistent with data collected 2. A clear mission and vision for data collection and use 3. Shared data and organizational cooperation
  • 23.  Copyright by Debra Zahay 2013 WhereDataQualityFitsintheOrganization Organizational Culture Data Quality Cross- Functional Cooperation Customer Performance Business PerformanceData Sharing Marketing/IT Integration
  • 24.  Copyright by Debra Zahay 2013 1. Overall data quality? 2. Data quality of transactions, touchpoints, interactions? 3. Overall quality of contact/loyalty/satisfaction data? How do you rate in Customer Data Quality?
  • 25.  Copyright by Debra Zahay 2013 1. Customer Retention 2. Customer Satisfaction 3. Cross-selling What is Customer Performance?
  • 26.  Copyright by Debra Zahay 2013 1. Do you have an agreed vision for managing Customer information? 2. Is there a common purpose? 2. Is the vision shared? 3 Do you use cross-functional teams? Do you reward teams for good performance? How should you organize for Customer Information Management?
  • 27.  Copyright by Debra Zahay 2013 Companiesmustconsiderhavingthreecapabilitiesto manage customerinformationwell: 1. A corporate strategy consistent with data collected 2. A clear mission and vision for data collection and use 3. Shared data and organizational cooperation
  • 28.  Copyright by Debra Zahay 2013 1. Can you store it in one place? 2. Can you query it? 3. Can your employees get at it? Three Questions Assess Customer Data Sharing
  • 29.  Copyright by Debra Zahay 2013 Starting Question: What is the relationship between Customer Information Management and Firm Performance? Research suggests that Customer Information Management is a multi-faceted organizational operation and that strategy, shareability and quality data each play a key role.
  • 30.  Copyright by Debra Zahay 2013 Contact information • Dr. Debra Zahay-Blatz • http://www.zahay.com • Best email debrazb22@gmail.com • Cell 630-300-8838 • THE BLOG: datadrivendigitalmarketing.blogspot.com • The G+ Community Data-Driven Digital Marketing • Watch for the Data Book!