Month: May 2019

Why Profile your Customers?

We recently had the opportunity to profile a client’s data. What does that mean exactly?

When raw data is brought in from an ERP system or a third party affiliate, it first needs to be hygiened and unified. From there, it can be matched with consumer data to find out who really is your best customer.

There are some obvious indicators to think about, for example gender and income level. But good profiling goes way beyond that.

A good profile should be able to reach into interests and hobbies, household members, home ownership, and more. Why is that important?

When you think about marketing, you need to know the channel and that is driven by your audience. So if your target profile is 40 – 49 year old women with more than 2 children in the home that enjoy gardening, your best channel may be a Home and Garden magazine or an ad space on HGTV.

Profiling your customers isn’t just a one time exercise either. You need to consistently use the data that you have and refine that profile. The goal is to develop and train a model to ensure your campaigns are getting better and better via machine learning.

At Valurity Analytics, we use your data and a petabyte of data to best profile your customers. Don’t stop at the basics. Get the full picture.

The Case for a Customer Data Platform by the Numbers

One of the biggest hurdles Marketing teams face today around the customer experience is being able to unify siloed customer data into a convenient and continuously updated snapshot of all that there is to know about their customers across all touchpoints of the buyer journey.

According to Gartner:

89% of businesses are going to compete on the basis of customer experience in the coming years.

Over 90% of marketers struggle to seamlessly connect more than 3 channels on the buyer journey.

According to Forbes Insights:

52% of Marketing Executives report that while they are leveraging a variety of tools and technologies there is little coordination between them.

Only 19% report having a robust set of analytics tools and technology services supporting customer-data-driven decisions and campaigns.

Only 13% of companies can be considered “leaders” in leveraging customer data.

Contact us today to learn how Valurity Analytics’ Customer Database Platform (VCDP) unifies, cleans, & optimizes all of your datasets allowing for deeper segmentation logic and personalization that can be deployed across all marketing campaign channels with granular matchback performance measurement capabilities & analytics.

Data Drives Everything

According to Gartner.com, marketing technology (martech) now accounts for 29% of total marketing expense budgets. That is a 7% increase from 2017 to 2018. As budgets for martech go up, it is more important than ever to find the correct martech vendor.

No marketing executive ever saw a data grid and thought “That’s some good looking data”.

What you will hear is

  • This data is erroneous
  • This data is incomplete
  • There is data missing

Valurity Analytics was founded by data engineers that understand that data drives everything. Without proper data, you end up with issues across the entire marketing data lifecyle. Improper data hygiene can lead to incorrect profiling that can lead to marketing to the incorrect target audience because segmentation is incorrect.

Get smarter with your martech. Valurity Analytics can help you across the whole lifecycle of marketing data to ensure accuracy and integrity of your data. And when your data is right your message is right.

Companies Don’t Answer Emails. People Do.

In the marketplace today we are finding many B2B companies who are struggling with their marketing. Every call we have with clients to discuss challenges always comes back to how to best reach B2B buyers.

And our answer is simple. Personalization. When we send out an email campaign, the more personal we can get it the better. Why? Because at the end of the day, the email still is being received by a person, not a company.

Just as important as personalization is the connection to the specific concern.  Too often today we are spending time trying to sell our features and benefits and not addressing the issues that are concerning the people.  If your messaging is always about the best things about your product you are missing the point.  Your product will sell itself if you connect to the issues that the decision makers are facing at their companies.  

Once you connect to the individual struggle a person has, you can solve their problem with your solution.  And when you do that with personalization and empathy, your company will usually come to the top. 

Don’t come off as just another sales pitch.  Connect to your audience.  And personalize your message. 

What is Segmentation?

What?

Market segmentation is the process of grouping a market of current customers or prospects into groups, or segments, based on different traits. The segments that are developed are composed of consumers or prospects who will respond very similar to cross channel marketing campaigns and who share characteristics such as similar spend behaviors, web activities and responsiveness, or locations.

Why?

Why is market segmentation important for marketers? Campaign segmentation allows marketers to customize creative and dynamic content to tailor fit these segmentation groups.

Goals?

Marketing Teams can also use segmentation to prioritize their target groups. If segmentation displays marketing that some consumers would be more likely to buy or connect to a brand/product than others, marketers can refine their strategies towards overall improvement in their execution of their organization’s marketing dollars.

Identity Resolution

Identity Resolution is More than Removing Duplicates

Identity resolution is the process of analyzing disparate customer data sets across multiple devices and mediums and combining them into a unified view of your customers. 

Isn’t that just removing of duplicates?  And in the digital world where email is a cheap, why does that really matter?

Let’s dig in a little deeper.  

First let’s consider where does the disparate data come from?  

The answer to that is everywhere.  Some examples would be your ERP system, Google Analytics, Social Media, Guest Checkouts, Ship to Addresses, Loyalty Programs, and any other Third Party Affiliate.  

Identity Resolution is the process of unification of those sources into one single aggregated version of a customer.  When that customer is rolled up into a single view of a customer you now have accurate data measures on which to profile.  

Let’s take an example of Mr. Green.  Mr Green has placed a phone order, a website order, and has purchased in the brick and mortar store in the past 3 months.  Each one of those purchases were less than $15.  Your company decides it’s going to market specifically to customers who have spent $30 or more in the past 3 months.  Mr. Green doesn’t make it into the campaign.  And you have missed your target completely.  

While eliminating duplicates is important, it’s much more important to unify your data to get accurate views of your customers.