Database marketing, part 1 roadmap to success
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This document provides an overview and roadmap for database marketing. It discusses: - The key components of database marketing including data preparation, campaign management, and reporting/analytics - The importance of data organization, hygiene, enhancement, and regular updating - How to develop a campaign strategy using customer data and reports - Whether to build a database marketing solution in-house or outsource to a vendor - An overview was given to prepare for two upcoming webinars on marketing analytics and campaign management.
Database marketing, part 1 roadmap to success
- 1. Database Marketing, Part 1 Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 2. Database Marketing, Part 1 | Roadmap to Success Presented By Andy Pappas VP, Database Marketing & Analytics – Relevate Tom Guernon Director of Sales – Relevate
- 3. Database Marketing, Part 1 | Roadmap to Success
- 4. Database Marketing, Part 1 | Roadmap to Success Business Issues Copyright © 1996 United Feature Syndicate, Inc.
- 5. Database Marketing, Part 1 | Roadmap to Success Business Issues Copyright © 1996 United Feature Syndicate, Inc.
- 6. Database Marketing, Part 1 | Roadmap to Success What We Will Cover What is Database Marketing? Goals of Database Marketing Why do you need Database marketing? Roadmap to Success SmartProfile Giveaway Preview of Part 2 & 3
- 7. What is Database Marketing? Database Marketing, Part 1 | Roadmap to Success Database: A collection of data and information about customers and/or prospects that affects what and how a marketer will sell to them. Database Marketing: A customer-based, information intensive, long-term methodology that uses the Database as the basis of all on-going marketing efforts.
- 8. Database Marketing Value Proposition Breadth of functionality - Integrated descriptive & predictive analytics, multi-channel Database Marketing, Part 1 | Roadmap to Success campaign management, and reporting. Ease of use - Expands user audience, reduces training requirements & makes staff productive sooner. Accessibility - Delivers insightful and actionable customer data to the fingertips of entire staff…from anywhere. Scalability and Performance – Architected to perform optimally with large databases, frequent updates and heavy usage.
- 9. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success Understand the Process Data Organization Data Hygiene & Enhancement Reporting Campaign Strategy Choosing a Solution
- 10. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 11. There are 3 main processes within the overall database environment. Database Marketing, Part 1 | Roadmap to Success Data Preparation Pulling together all relevant internal information to house in the database Individual contacts Transaction history Solicitation history Understanding where within the organization this data can be found and how it can be accessed on an ongoing basis Knowing how to use it once it has been structured Allows you to better target/segment your customer/prospect universe Allows you to more efficiently answer day-to-day questions and requests Campaign Management Being able to communicate with your contacts at the right time, via the right channels, with the proper frequency while providing the desired message/offers 11 Process Involved
- 12. Database Marketing, Part 1 | Roadmap to Success Reporting and Analytics Close the loop on campaigns by understanding who responds Allows for better segmentation in future campaigns Producing KPIs to run your everyday business Seasonality results Product Category results RFM results Etc. 12 Process Involved Cont.
- 13. Database Marketing, Part 1 | Roadmap to Success
- 14. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 15. How is Data Typically Organized? Database Marketing, Part 1 | Roadmap to Success 15
- 16. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 17. Data Hygiene & Enhancement Why is hygiene needed? Over 12% of the U.S. population moves every year 30% of Email addresses change every year A recent Experian study found that 75% of companies waste an average of 14% of Database Marketing, Part 1 | Roadmap to Success revenue on bad data What can be done?
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- 19. There is not Hard and Fast rule as to how frequently a database should be updated. It is really industry and marketer specific. In general, transaction related tables (i.e. sales) should be updated more Database Marketing, Part 1 | Roadmap to Success frequently than not (often done weekly). Other tables can be updated on the same schedule or less frequently. For example a product table might be updated quarterly or annually for some companies, but might be updated monthly for others. 19 Update Frequency
- 20. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 21. Database Marketing, Part 1 | Roadmap to Success Reporting Production reports Address Hygiene Merge/purge Campaign Creation Reports Determine available universe for each desired segment Determine how Global or Specific suppressions or filters may change the segment quantities Determine estimated ROI per segment by using historical/expected response rates and average sales figures Campaign Performance Reports Determine the actual Response Rates, $ Sales and ROI by Segment Compare to Projections Compare to Historical Results Database Performance Reports Year to Year comparisons Product Category Comparisons Customer Segment comparisons
- 22. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 23. Database Marketing, Part 1 | Roadmap to Success Campaign Strategy This too will be covered in a later session but in general, using all the information at your fingertips (both internal and external data) to make decisions: • Who to solicit • When to solicit them • How to solicit them (which channel) • How often to solicit them • What types of offers to provide And then via the response match back attribution process you will know who responded and that information will help determine future marketing campaign decisions
- 24. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success
- 25. What Solutions is Right for you? We have been discussing the importance of having of good processes in place before considering any database solution. Once these have been researched and reviewed, the question becomes: • Do we build this ourselves in-house or do we outsource it? The main drivers in this decision begin with the Internal Competencies. Can proper Address Hygiene be performed internally? Can proper data matching within and among data tables be handled internally? Do you have data enhancement capability for better segmentation and or contact Database Marketing, Part 1 | Roadmap to Success strategies Demographics and Psychographics Phone Append Email Append
- 26. What Solutions is Right for you Cont.? In-House Solutions Pro – Designed to fit current needs Con – Typically not scalable Con – Timing considerations, as internal resources have many Database Marketing, Part 1 | Roadmap to Success requests and demands on their plate. Vendor Managed Solution Pro – Continual improvements to platform Pro – Customizable to fit your ever-changing needs Pro – Can be customized at a lower cost Pro – Typically user friendly for marketing teams Con – Lose internal control
- 27. Roadmap to Success Database Marketing, Part 1 | Roadmap to Success Understand the Process Data Organization Data Hygiene & Enhancement Reporting Campaign Strategy Choosing a Solution
- 28. Database Marketing, Part 1 | Roadmap to Success
- 29. Upcoming Database Marketing Webinars Database Marketing, Part 1 | Roadmap to Success Part 2: Marketing Analytics & Reporting Part 3: Campaign Management and Automation
- 30. THANK YOU AND PLEASE STAY IN TOUCH! Email us at sales@relevategroup.com or call 800-523-7346 Database Marketing, Part 1 | Roadmap to Success
Editor's Notes
- #13: Todays focus is DBM
- #15: Data Organization
- #22: TALK ABOUT MULTI-CHANNEL AND RISE OF OMNI-CHANNEL Data Enhancement Add demographics / firmographics Advanced segmentation including buying behavior, household info. Data Append Append / Reverse append Know who your customers / prospects are via physical address, phone, e-mail, and online targeting Could also add in screen shots of NCOA report, and confidence code reports from Email and Phone Append
- #25: Choosing a Solution