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Data Driven Marketing by SimpleRelevance

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Learn how to overcome the biggest challenge with big data marketing: you aren't using your data to personalize your marketing communications. Use frequency optimization and advanced segmentation, using the information you already have!

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Data Driven Marketing by SimpleRelevance

  1. 1. Data Driven Marketing How to Connect The Dots
  2. 2. Connecting the Dots • Frequency • Content • Implementation
  3. 3. Erik Severinghaus Founder & CEO Email Veteran (Founding team for iContact) BIG DATA NERD Patent #20080320482A1 “Management of Grid Computing Resources Based on Service Level Environments” MARKETING KNOWLEDGE Kellogg MBA erik@simplerelevance.com | 312-569-9431 | @SimpleRelevance
  4. 4. Accounting 101 • INCOME STATEMENT: How much money did you make? • CASH FLOWS STATEMENT: How much cash did that generate? • BALANCE SHEET: What are your assets and liabilities?
  5. 5. Accounting & Ecology Your email list is probably worth millions of dollars. You should treat it like a valuable asset.
  6. 6. Neglect
  7. 7. Overuse
  8. 8. Neglect Overuse 56% of merchants we subscribed to sent only a confirmation email. 90% of merchants who sent mail would “batch and blast” the same content to everyone
  9. 9. Understand & Optimize the Value
  10. 10. What is the biggest challenge to big data for marketing?
  11. 11. What is the biggest challenge to big data for marketing? “ We aren’t using our data to effectively personalize our marketing communications ” - 49% of Chief Marketing Officers Surveyed
  12. 12. Most Marketing is Marketing Should Be Batch & Blast Personalized Some A|B Testing Little Segmentation Completely Data Manual (“Hard”) DrivenAutomated (“Simple”)
  13. 13. “ I love J.Crew. I am a male and don’t need to receive emails targeted towards females. I’m not sure if your system is capable of segmenting your email lists. ” - J.Crew Customer
  14. 14. You don’t know Jack. Or Tina. Or Joe. But the data does. Your customers are all different and respond to different things. The more they open and click on your emails, the more revenue you earn. But how do you get each of your customers to engage with your emails? The answer is smart emails that identify the unique tastes of your customers so you can mass target them one-by-one. The Results: •50% + increases in revenue •$20 of incremental revenue for every dollar spent •But don’t take our word for it, check out this case study by Marketing Sherpa
  15. 15. Like many e-commerce companies, Li-Ning used to segment emails based on just their customers’ age and gender. However, they found that many of their emails weren’t engaging their customers. This is because they weren’t looking at all of the available data on their customers. Meet Tim. "User":"tim@gmail.com" “Gender” : “Male” "Age": "18-24" “FB Likes”: “Tennis”, “ATP” “Purchase History”: “Li-Ning Pro Competition Tennis Shoes” Li-Ning assumed that because Tim is a young male, he likes basketball and Dwayne Wade. However, Tim ignored the email because he likes tennis, not basketball.
  16. 16. A Better Way Us technology to pull data from Li-Ning’s customers’ emails, demographic information, and purchase history to send targeted emails to each individual subscriber. "User":"jen@gmail.com" “Gender” : “Female” "Age": "25-30" “FB Likes”: “Running”, “Chicago Marathon” “Purchase History”: “Li-Ning Women’s Running Shoes” "User":"joe@gmail.com" “Gender” : “Male” "Age": "30-34" “FB Likes”: “Badminton” “Purchase History”: “Li-Ning Badminton Racquet”
  17. 17. What Li-Ning should have sent Tim Personalized product recommendations, subject lines, creative, and the time of day and day of week emails were sent to maximize Li-Ning’s conversion rates. Best of all, all of our emails are sent automatically, so LiNing never had to deal with sending emails again. 1 2 3 "User":"tim@gmail.com" “Gender” : “Male” "Age": "18-24" 1 “Purchase Times”: “Monday at 11:10 AM”, “Monday at 11:35 AM” 2 “Key Subject Line Phrases”: “Sale”, “Discount”, “25% Off” 3 “FB Likes”: “Tennis”, “ATP” 4 “Purchase History”: “Li-Ning Pro Competition Tennis Shoes” 4
  18. 18. Integrate With Your Current Tools These sorts of tools can easily be integrated with your ESP and e-commerce platform. Setup is completely automated and only takes about 10 minutes. ...and many more
  19. 19. How You Can Do It Use your existing content to make the emails. You already have all the data needed to start optimizing your emails. Use tools to create a custom profile for each customer using data from your current Email Service Provider and ECommerce platform. Look at: •Each customer’s purchase and click history •The subject lines of the emails each person clicked on •The time and day each customer opened your emails •Third party demographic data •Data from social media websites Continuously learn with every interaction, so the system keeps getting smarter.
  20. 20. Summary Using data to optimize your marketing is no longer optional Ignore these concepts at your peril If you have the right tools in place, this will make your life easier not harder
  21. 21. Get In Touch EMAIL: erik@simplerelevance.com CELL: 202-431-5699 OFFICE: 312-569-9431 TWITTER: @SimpleRelevance http://www.simplerelevance.com

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