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April 21-22, 2010 San Antonio, TX Keith Shriver Emergent Analytics Pick a number … Pick an animal …. Pick a state … Pick a letter … elk, elephant or emu? what data did for a major insurance co. • Good data tells you about your client … 178 Consumer 48 Business The cleaner the data … the better the match! – Good data matches attributes from our … data? lists? attributes? data?
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April 21-22, 2010 San Antonio, TX
Marketing Data Based On BUYER’S BEHAVIORSKeith ShriverEmergent Analytics
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 attributesfrom our …
178 Consumer48 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 moneyskewed the profile!
CASE STUDY 2
the wrong market!
CASE STUDY 2
They found emus …
not elephants.
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 AnalyticsClient 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
CASE STUDY 3 ‘I think I know, but do I?’USE THE METRICS THAT COUNT …
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, PrincipalEmergent Analytics631 South Manchester Ave.Anaheim, CA 92802Office: (949) 873-5150Mobile: (303) [email protected]
April 21-22, 2010 San Antonio, TX
Marketing Data Based On BUYER’S BEHAVIORSKeith ShriverEmergent Analytics
