Marketing Data Based On BUYER’S BEHAVIORS Keith Shriver Emergent Analytics
April 21-22, 2010 San Antonio, TX
puzzled about data?
Pick a number … Pick a letter … Pick a state … Pick an animal …. Which will you choose?
elk, elephant or emu?
what data did for a major insurance co. • Good data tells you about your client … – Good data matches attributes from our …
178 Consumer 48 Business The cleaner the data … the better the match!
CASE STUDY 1
data? lists? attributes? data?
where does data come from? • Types of Marketing Data – House lists or customer – Self-compiled lists – Private rental lists – Trade association/publication subscriber lists – Compiled rental lists – mined from white/yellow pages, public records, warranty cards, etc.
– Targeted lists based on computer analytics – (modeling)
what do we want data to do? • Define and isolate the best sales targets – Prospects who desire what we are selling – Prospects with the financial ability to purchase – Prospects who have a timely propensity to buy
– BASED ON BUYING BEHAVIORS • Ferret out the top prospect segment – The 90th decile or the top 10% of consumers – Based on the target buyer’s behavior
find more gray elephants … Who buy!
what data found for a Las Vegas Casino • Data was clean … But incomplete! Profile showed spike for… Religious Persons
An attempt to save money skewed the profile!
CASE STUDY 2
the wrong market! They found emus … not elephants. CASE STUDY 2
where do we start? • We start with a customer profile – Analyze your house customer file – Define your “ideal customer”
• We create a computer data model – Ferret out as many traits as possible – Run the traits against available universe – Determine best targets from universe – Test the top records by mailing to them
FIND MORE GRAY ELEPHANTS THAT BUY …
what does a data profile look like? Emergent Analytics Client Univariate Data Analysis
what data is most likely to do this? • Data that describes our current best client Their activities & lifestyles …
AND THEN WE CLONE THEM!!!!!!
more elephants … Not Emus!
what data did for a resort residence • The data may tell you to ‘look elsewhere.’ – Test new profiles – Classic buyer vs. NEO – Responders vs. non-responders
Alternative uses for profiling & modeling USE THE METRICS THAT COUNT …
CASE STUDY 3
‘I think I know, but do I?’
who can help with this process?
what is ROMI? • How we market depends on who we target – The better we target, the lower our cost – The lower our cost, the higher the ROMI (Return on Marketing Investment) – The higher the ROMI, the more we sell
• Effective direct mail campaigns… – Generate more sales or convertible leads – Cost less for production, execution, postage – Can be precisely tracked and analyzed
it’s yor turn … Questions & Answers
thank you
Keith Schriver, Principal Emergent Analytics 631 South Manchester Ave. Anaheim, CA 92802 Office: (949) 873-5150 Mobile: (303) 562-7561 keith@emergent-analytics.com www.emergent-analytics.com
Marketing Data Based On BUYER’S BEHAVIORS Keith Shriver Emergent Analytics
April 21-22, 2010 San Antonio, TX