Leveraging big data to drive cross media campaigns provides print, specifically direct mail, with a chosen seat at the marketing table. Using data, marketers are able to deliver more relevant experiences to target audiences—i.e. personalization—to drive up response rates, resulting in happier...
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Leveraging big data to drive cross media campaigns provides print, specifically direct mail, with a chosen seat at the marketing table. Using data, marketers are able to deliver more relevant experiences to target audiences—i.e. personalization—to drive up response rates, resulting in happier clients.
“Marketing and advertising is a cross- channel practice, and the same needs to be true for solutions that enable personalization,” states InfoTrends, in its report The Personalization Imperative: Building the Next Generation of Personalized Customer Experiences. “The diversity of data sources available today—web analytics, geo- location, transactional, social, mobile, and more—can be leveraged to create and deliver highly relevant, contextual customer experiences.”
Data mining, audience segmentation, predictive modeling, and other forms of targeting that actually originated in practice with direct mail are now being used across a multitude of channels, reports InfoTrends.
According to Serge Grichmanoff, CEO of SmartGuys Analytics, “The new direct marketing is an information driven marketing process, managed by a database technology that enables marketers to develop, test, implement, measure, and appropriately modify customized marketing programs and strategies.”
The use of personalized, one-to-one marketing grew 40 percent from 2010 to 2012 at the expense of mass marketing, which decreased six percent over the same period, reports InfoTrends.
Also noted by InfoTrends, however, is that 45 percent of marketer respondents in a NYAMA/Columbia study admitted that they are not using personalization to its fullest potential. “This issue is compounded by the inability to link big data to the individual customer level, which 42 percent of respondents reported as a challenge,” says the study. “Lack of data is certainly not the issue, but how it is shared and governed across the enterprise will need to be addressed by any company that is serious about achieving personalization.”
The Three V’s
Big data relies on three characteristics: velocity (the speed at which data is delivered—which in today’s world is real-time); volume; and variety (the types of data available, such as geo-location, demographic, etc.), explains Madhu Nair, Global Product Marketing Manager for SAS Data Management, which specializes in brand analytics.
“Big data has become a lifeline,” he adds. “The more you can gain insights into the footprints people leave, the more you can engage them.”
One newspaper client, The Miami Herald Media Company, sends out over half a million pieces of direct mail each week, but wasn’t getting the returns it wanted for its subscription campaigns. SAS pulled and cleaned data from their subscription list.
“You have to know what you are looking for, mine the data, clean it up, make sure the quality of the data is there. Based on what we saw in the data, we went after market segments that were the most valuable, with the ultimate effect being increased subscriptions,” says Nair.
Many larger organizations are well-versed in dealing with big data--they have data “warehouses” filled to the brim with contact information, transaction details, loyalty points, and personal preferences of their customers, as well as archives of their marketing campaigns that can help them optimize future initiatives, notes Jeff Hayes, president, InfoTrends. “Rich data already exists to power personalization, so long as a business is setup to do so.”
For many printers looking to tap into big data for their customers’ cross-media campaigns, education is required says Grichmanoff. It’s critical to understand what the data is, its value, and how to take action based on the data.
“You need to be able to take that data, and translate it into an understanding of when a person needs to be communicated to, when an event is happening (i.e., when the end customer will buy a new car), and how you are going to incentify them to buy product—all of that info is available in the customer’s previous history,” says Grichmanoff.