Twenty years ago, we discovered the power of transactional data. Lo and behold, it turned out that certain aspects of human behavior were very predictable. Once a consumer’s wallet was opened and purchases were made, certain details of those transactions, known as RFM, turned out to be very trustworthy indicators of future purchases. Fast forward… Continue reading Catalog Circulation – A New Frontier
Tag: analytics
Data Driven: New Customers … Now What?
Data’s role in customer acquisition The role of data within customer acquisition involves capturing and maintaining a record of the person or business that made a purchase. The basic information includes 1) who made the purchase, 2) when that purchase occurred, 3) what media channel the order was placed through and 4) the value of… Continue reading Data Driven: New Customers … Now What?
4 Key Elements Needed to Understand How Data Metrics Create Value
For many marketers reading this column, data is fun! We love the challenge of figuring out how to find and use data to solve problems and drive all kinds of marketing initiatives. However, we also operate in a business environment and have to ultimately answer the question of value. How do we create true value… Continue reading 4 Key Elements Needed to Understand How Data Metrics Create Value
The Battle of Prepositions: A look at integrating data ‘from’ new marketing initiatives and ‘with’ new marketing initiatives
As I began writing this column, I was immediately struck by one of the words in the deck. Using “from” suggests fitting new marketing data into an existing process integration after new initiatives are introduced, while the word “with” requires a different approach altogether, indicating a process that considers the data before the initiative is… Continue reading The Battle of Prepositions: A look at integrating data ‘from’ new marketing initiatives and ‘with’ new marketing initiatives
Behind the Curtain: A look at the people and departments responsible for marketing data
Over the past season, we have been looking at many data-driven elements, including the data itself and the processes that are involved in analysis and reporting. However, a simple, often-overlooked, but key part of the whole process is the people who work with the data. Different people are involved across so many parts of the… Continue reading Behind the Curtain: A look at the people and departments responsible for marketing data
Beyond the Data: New thinking about data’s role in creating marketing success
“Data” has become the darling of the marketing world recently as information technology and database marketing really hit their strides in business (Check out the Target Marketing July 2012 cover story, “Are You Ready for Big Data?” to brush up on your consumer data know-how if this topic hasn’t been on your radar screen). Marketers… Continue reading Beyond the Data: New thinking about data’s role in creating marketing success
Playing by the Rules: Establish key analytic processes in order to boost your return on marketing investments
“Big Data” is a buzzword these days. More importantly, under the hood there have been new data emerging from so many sources, we are all scrambling to keep up. As new media channels have been born during the past decade, so have new databases that serve as repositories for all the new data. In some… Continue reading Playing by the Rules: Establish key analytic processes in order to boost your return on marketing investments
5 Ways to Move Marketing Resources Online
For most merchants, online marketing offers a more favorable return on investment than offline marketing. In addition, it is much easier to track, analyze and plan for. If that is not enough, online marketing also happens in real time or close to it. On the other hand, offline marketing feels like watching grass grow in… Continue reading 5 Ways to Move Marketing Resources Online
Six Items to Consider When Analyzing Prior Season
We all know that consumer behavior is changing rapidly. Yet, when reviewing their prior season, many merchants continue to look at the same metrics year after year. In addition, merchants look at these metrics the exact same way every year. Merchants may be missing opportunities as customers have definitely changed their way of interacting with… Continue reading Six Items to Consider When Analyzing Prior Season