Life Events Can Drive Marketing

Personalization is the key to marketing today. The more personal your campaign is the more likely it is to reach the emotions of your consumer. And emotions drive sales.

One of the best ways to personalize a campaign is to use life events. So how do you go beyond birthday when marketing to your customer base?

The key to life events is a good profile of your customer base. You need to make sure your data is clean and has been through Identity Resolution before appending consumer data. Clean data brings back the importance of Identity Resolution. If you have clean and unified data, you will be able to append consumer data with much more accuracy.

Once a customer database has been through Identity Resolution, a good profile will include important dates for each customer. For example you will find wedding anniversary, children’s birthdates, retired date, home purchase date, and more. This kind of data can personalize a campaign on a whole new level.

How can these dates help your marketing strategy? You can use life events to trigger campaigns. So if you are a jewelry store, why not send campaigns based on wedding anniversary? Or if you are a home and garden shop, what better time to send something than the home purchase data anniversary?

Being creative in your campaigns will only boost sales. Don’t discount data that might seem small and inconsequential. It might just be your next best campaign.

An In-Depth View into Pinning

Identity resolution, also known as Pinning, is a data management process through which an identity is searched and analyzed between disparate data sets and databases to find a match and/or resolve identities. Identity resolution enables an organization to analyze a particular individual’s or entity’s identity based on its available data records and attributes.

When an individual or company is searched through an identity resolution solution, a series of algorithms, probability, and scoring is applied to find and determine any associated records. For example, an enterprise might have more than one person named John Smith. However, through identity resolution, this individual’s other data attributes such as telephone number, address and email can help differentiate all of these individuals or detect matches.

Each entity run through our system is assigned a unique company ID, unique person ID, and a unique address ID for consistency, segmentation, and reportability of the marketing database.

Why is this important? The obvious reason is to remove duplicates. This is particularly important when you are sending out a print campaign. The cost of a print campaign can be drastically reduced if a large portion of duplicates have been removed. Pinning can be done at an individual level and a household level ensuring that only one copy of your print ends up in a household.

Another reason Identity Resolution is important is to better understand your customers. Check out this article written for our blog for a more in-depth view of that.

But is it really that important to remove duplicates when sending out an email campaign? Yes it is. The opportunity cost of lost emails through spam reports and unsubscribes is definitely to be considered here.

As you consider all of these things, there is one important thing to remember. Bad data leads to bad results. Increase your effectiveness and your ROI with proper Pinning.

Millennial Target Market

Proper market segmentation can lead to more effective ROI. Determining which particular segments to market towards is always the trick. The current trend is to target the millennial generation.

The millennial generation is the current largest segment of the United States population. Therefore it must be the best target market. But is it really?

This particular article is fascinating as to why it might not be the most effective marketing strategy.

Take a look.

https://www.adweek.com/brand-marketing/why-targeting-millennial-consumers-might-not-be-such-a-hot-idea-after-all/

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.