Datafusion - delivering customer insight
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The application of data fusion for customer insight
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- 1.
- 2. Data Fusion The Final Frontier An Introduction to MARKETGEM
Michael Collins BA(Hons), DipM, MCIM, FIDM Managing Consultant -
Database Marketing Counsel Visiting University Lecturer in Database
Marketing & CRM
- 3. The Classic Strategic Circle RESPONSE TUNE STRATEGY DATABASE
COMMUNICATION ANALYSE RESPONSE
- 4. The New Strategic Circle CONTROLLED RESPONSE INTERPRET,
ANALYSE AUTOMATION DATABASE BROAD RANGE OF COMMUNICATION MEDIA
UNCONTROLLED RESPONSE, NEW DATA, INTELLIGENCE
- 5. How do you understand your customers? Behaviour Purchases
Responses Queries Complaints Profile Demographics Lifestyle
Personal Psychographics Attitudes Aspirations Preferences Retention
Acquisition Cloning
- 6. How Do Customers Segment Themselves? Email Phone Mail Sales
Visit SPECTRUM OF RELATIONSHIP I need constant contact I know where
you are when I want something
- 7. Demographics
- 8. Lifestyles
- Individuals can share a demographic grouping but have a totally
different set of interests, pursuits, hobbies, pastimes and enjoyed
activities
- 9.
Demographics & Lifestyles may not be enough
- 10. Psychographics
New small car that I can afford Flashy big used car with
personalised plate
- 11. B2B Demographics
- 12. B2B Discriminators
- Family business or shareholders
- Acquisitive or acquirable
- 13. B2B Psychographics
- Referral or Viral marketing
- No-one ever got fired for buying
- 14. Psychographics Adding to your database from research
- Address the customer segments with golden questions
- Research data can be both discrete and general
- If research is discrete then it can be matched back to the
subject
- This will provide specific qualification criteria for those who
respond .
- . and information that can be extrapolated across other similar
subjects, to fine tune the profiles
- 15. Why MarketGEM ? 360 VIEW OF THE CONTACTS The WHAT, WHEN,
WHO, WHICH & HOW MUCH Customers Prospects Suspects Promotions
Complaints Branches Products Campaign Response Source Quotations
Referrals Lifetime Expenditure Enquiries
- 16. Why MarketGEM ? but you also want to know WHY? . and who
else WILL behave in a similar way .to build a model that will
identify the nuggets of opportunity just waiting to benefit your
relationship with your customers
- 17. A Process of data fusion. The MarketGEM Process
- 18. Your Systems Data (Customers & Transactions) Start with
your own data. The MarketGEM Process Names Addresses Postcodes
Source Campaign history Response History Purchase History Enquiries
Complaints Referrals Data acquired
- 19. Your Systems Data (Members & Transactions) enhancement
& enrichment The MarketGEM Process External Qualification
(Demographics & Classifications) Demographics Lifestyle Product
Purchase Magazine Subscriptions Postcode verification
- 20. Your Systems Data External Qualification (Members &
Transactions) (Demographics & Classifications) enhancement
& enrichment This is the basis for a fast start - maximising
available data for business decisions Define your SEGMENTS and
determine your GOLDEN QUESTIONS The MarketGEM Process
- 21. The MarketGEM Process Targeted Market Research Your Systems
Data External Qualification (Attitudes & Aspirations) (Members
& Transactions) (Demographics & Classifications) ..add
bespoke research data
- 22. The MarketGEM Process Targeted Market Research Your Systems
Data External Qualification (Attitudes & Aspirations) (Members
& Transactions) (Demographics & Classifications) a model is
built Deliver actionable direction for immediate benefit, stage by
stage
- 23. How does it work?
- Data appraisal database and all research
- Enhance member and transaction information
- Understand the Business Opportunities
- Undertake bespoke market research
- Fuse the outcome by discrete indicators or segment
- C reate the MarketGEM analysis universe
- Explore and analyse the data
- 24. Notional scenario Customer & Prospect Details &
Transactions CUSTOMER DATA MARKETING UNIVERSE Orders Sales
Campaigns Complaints
- ROI & Business case for longer term
Tools for analysis, reporting, selection and querying
- 25. Application consumer markets
- Merge with Market Basket Analysis
-
- Amazon - potentially interesting products
- 26. Enhanced MBA Travel Industry
- Identify the combinations of type of travel and destination and
then count the number of times each combination exists for the
period
Results reveal highest number of combinations Provides direction
for cross sell Website or brochure layout Relationship management
- Add MarketGEMcustomer profile data
- 27. Application - Retailing
- From Customer Lists and Sales Records (EPOS) identify purchases
from Sales and Mainline business
- Simple segmentation of sale and main-line customers
- Market Research by telephone and incentivised mail
-
- Included attitudinal and demographic/lifestyle issues
- 28. Identifying the best clones
- Identify mainline shoppers
-
- Identify shoppers by recency and frequency and future intention
to shop main line
-
- Create MarketGEM model - combine with demographic and lifestyle
results - age, marital status, car ownership etc
Application - Retailing
- 29. Application - Retailing
- Next highest occupation type qualified by future intention and
competitor purchase behaviour
- Age variation identified: 25-45 and 45+
-
- Infrequent purchasers perhaps saving up for a particular
item
-
- Younger clones could develop into higher rank prospects as
careers progress
-
- Older clones remain on the brink between sale and mainline,
probably more aspirational than committed
Second Rank Clones
- 30.
-
- Customers used to identify the demographic and consumer profile
that can then be applied to the wider data universe for customer
retention
-
- Use the profiles and behavioural traits to drive cloning for
new best customers
-
- Cloning continues until either attributes become insignificant
or insufficient for a viable segment
Application - Retailing
-
- Targeted marketing based on the clone contingents generated
incremental 1.25m turnover in first quarter
- 31. Application B2B
- International business publisher and event organiser
-
- Exhibition Visitors (registration data)
-
- Stand visit records (badge swipes)
-
- Market Research of exhibition visitors
- Create a total view of contacts and identify best customers,
potential churn and other business opportunities
- Are the best customers really as the company expects?
- 32. Application B2B Company Name Postcode Business Demographics
Sector Registration Code Advertising spend Job Function Job Title
Turnover Product/Service 1. Business demographics: Enhancement
/verification 2. PAF data (UK & Foreign) Address verification
& formatting 3. Weather/Travel Info 4. Advertising Monitoring
Market share, expenditure comparison 5. Sector performance Adding
External Data
- 33.
- Why were a whole contingent of visitors attending but never
appearing on the stand visit records?
- Were the highest spending advertisers the best customers?
- How were the key exhibitors playing the system?
Application B2B Examples of Business Opportunities Tiny businesses
using show to network with similar businesses. Benefit: Sponsored
small business forum yielded 25k opportunity Majority of high
spending advertisers spent considerably more with competitors,
using the clients titles for recruitment, not brand advertising.
Benefit: Sales objectives amended to attack competitor activity
Some big names felt that their presence was vital to the events
success and so were not signing contracts until the last minute or
after the event. Benefit: Reducing the business risk through
improved business process
- 34. Address uppermost business imperatives Growth Effectiveness
Market Share
- Knowing more about your customers & prospects
- Opportunities for cross sell and up sell
Why MarketGEM ? through Data Fusion
- 35. Why MarketGEM ? Maximised yield from web and brochure
layout 25k+ to bottom line, risk reduction & cashflow benefits
1.25m increased turnover
- 36. Thank You www.marketgem.co.uk Data Fusion The Final
Frontier An Introduction to MARKETGEM
- 37.