Profiling Your Customer with Market Research

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