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A Case for Personalization - Frederick Herot - Marketing Innovation & Discovery Summit 2009

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Frederick Herot, VP Marketing of Realtor.com and Eric Cosway spoke on Personalization in direct marketing. More summit 2009 materials at TheDirectMarketingVoice.com; Follow for more twitter.com/quantumdigital

Published in: Business, News & Politics
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A Case for Personalization - Frederick Herot - Marketing Innovation & Discovery Summit 2009

  1. 1. THE CASE FOR PERSONALIZATION Frederick Herot
  2. 2. <ul><li>Print to web </li></ul><ul><li>Testing and optimization </li></ul><ul><li>Segmentation </li></ul><ul><li>Call to action fulfillment </li></ul><ul><li>Channel monotony </li></ul>Unconventional uses of digital print
  3. 3. <ul><li>Old school </li></ul><ul><ul><li>Home prices always go up </li></ul></ul><ul><ul><li>Put home on market and it will sell </li></ul></ul><ul><ul><li>Thanks for the recipe, your postcard was adorable let’s list the house </li></ul></ul>Print to Web
  4. 4. <ul><li>This market </li></ul><ul><ul><li>Is the market in free fall or improving? </li></ul></ul><ul><ul><li>Will I lose everything or did it stabilize? </li></ul></ul><ul><ul><li>Forget the recipe cards – this is serious business </li></ul></ul>Print to Web
  5. 5. <ul><li>Offer is about what occurred locally </li></ul><ul><li>Image on mailer incorporates data on homes within 100 feet </li></ul><ul><li>Call to action is to get report on web </li></ul><ul><li>Lead capture </li></ul><ul><li>Closed loop system </li></ul>Print to Web 55512
  6. 6. <ul><li>24 messages tested </li></ul><ul><li>700% better response </li></ul><ul><li>Swift adaptation to changing market </li></ul>Testing and optimization
  7. 7. <ul><li>Magazine ads were failing </li></ul><ul><li>Contractual obligation </li></ul><ul><li>Cycle to test message was 90 days </li></ul><ul><li>3 failed messages = 1 year no leads </li></ul>Testing and optimization
  8. 8. <ul><li>Examples of failed ads </li></ul>Testing and optimization
  9. 9. Testing and optimization <ul><li>Idea – test 12 messages with “tack in card” </li></ul><ul><li>Quickly eliminate loser messaging </li></ul><ul><li>Use winner in more expensive long runs </li></ul>
  10. 10. <ul><li>Print test lead to online testing as well </li></ul>Testing and optimization
  11. 11. Segmentation <ul><li>Call to action in advertising heavily tested </li></ul><ul><li>Specific fulfillment items requested segments customer data </li></ul><ul><li>Survey on line provides rich data </li></ul>
  12. 12. Shift in paradigm <ul><li>Old school </li></ul><ul><li>Branding </li></ul><ul><li>Product claims </li></ul><ul><li>Discount </li></ul><ul><li>Testimonials </li></ul>
  13. 13. <ul><li>This market: </li></ul><ul><li>Tools that can be used today </li></ul><ul><li>Education and practical problem solving </li></ul><ul><li>Examples of “how to do” </li></ul><ul><li>Downloads and step by step guides </li></ul>Shift in paradigm
  14. 14. Example use case
  15. 15. Example use case <ul><li>Test of emails for survey </li></ul><ul><li>Survey </li></ul><ul><li>Data acquired </li></ul><ul><li>Fulfillment / reward </li></ul>
  16. 16. <ul><li>Channel overloaded – email </li></ul><ul><li>Attendance shortfall </li></ul><ul><li>Postcard for event </li></ul><ul><li>Attendance goal achieved </li></ul>Example use case
  17. 20. <ul><li>Product has not changed significantly </li></ul><ul><li>Dependency on foreclosure ads </li></ul><ul><li>Product one dimensional </li></ul>Example use case
  18. 21. Average Performing Ads Category: Average performing ads. In our testing, on average, these ads need approximately 1.8k impressions for a click and 53.2k impressions for a lead.
  19. 22. Above Average Performing Ads Category: Above average performing ads. In our testing, on average, these ads need approximately 2.2k impressions for a click and 38.0k impressions for a lead.
  20. 23. Exceptionally Well Performing Ads In Both CTR and Leads Category: These ads were consistently in the top 10 for CTR and Leads In our testing, on average, these ads need approximately 1.3k impressions for a click and 12.1k impressions for a lead.
  21. 24. <ul><li>Product has not changed significantly </li></ul><ul><li>Dependency on foreclosure ads </li></ul><ul><li>Product one dimensional </li></ul><ul><li>Testing revealed emerging luxury market </li></ul>Example use case
  22. 26. <ul><li>Product has new talking points </li></ul><ul><li>Luxury brochure deep seated as value </li></ul><ul><li>Multiple facets to product </li></ul><ul><li>Immediate lift in sales – new product line </li></ul>Example use case
  23. 27. REALTOR® buzz… Trade shows and online media
  24. 28. Then… … and now Social Networks
  25. 29. <ul><li>Social networking getting lots of attention </li></ul><ul><li>Direct marketing perfect for geo-targeting </li></ul><ul><li>Building Facebook communities with print to web </li></ul>Example use case
  26. 30. Questions?

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