Dec
20
2013

Effective marketing — the perfect recipe

My last post explored how big data gives marketers the power to ‘see’ their customers as individuals. It’s time to see how we can mix these ingredients to create insight that allows understand our customers and engage them in ever-more targeted and relevant ways.

In my last post we met Lucy Bloggs, who is no longer a faceless member of the crowd, but an individual we know across a variety of contact points. We know how to contact her, but not how to engage her.

To drive this engagement, we must understand more about her. For example, where does Lucy live, how and when does she like to shop, what products is she likely to be interested in, which channels does she move across?

Adding in additional data sources delivers insight into who Lucy is and what motivates her. Rich third party data seasons the dish so we can answer questions that include the newspapers Lucy reads, the car she drives, her annual income, the brands she buys and aspires to and the type of household she lives in.

Step 1:
Use segmentation to narrow down your search for the real ‘Lucy’. Demographics uncover Lucy’s age, what stage she’s at in her life and her household income. Sprinkling transactional data into the mix, we discover her purchase history, where she shops and the ways she likes to pay.  A dash of behavioural insight lets us understand how she searches online, which marketing emails she opens and why, the banner advertising she clicks on and the type of content that she enjoys. Psychographic data spices up the dish with insight into her sentiments, reactions to peer reviews and brand perceptions.

Step 2:
Use the insight you have generated from Step 1 to automate personalised marketing approaches — engage across the channels Lucy uses about the products she wants at the times she wants. The value exchange for Lucy is that, as she shares more information about herself, marketers will use it to target her ever-more precisely. The value exchange for marketers includes greatly improved sales, enhanced brand loyalty and more effective and cost efficient campaigns.

Step 3:
Customer insight offers more than improved engagement —use the deep and near real time data from your customers to inform decision-making for greater business agility. Capturing, analysing and deploying the knowledge that you gain means that you spot developing trends and changes in the market — to move first and fastest for real competitive advantage.

Now we know the ‘who’, ‘what’, ‘where’ and ‘when’ of engaging Lucy. In my next post we’ll learn ‘how’ to engage her and deliver the pièce de resistance — cross channel, intelligent interactions.

If you missed my first post in the series, you  can find it here: Effective marketing – high quality  data ingredients.

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