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Tue, 05/19/2015 - 18:38 - Peter Moloney
Predictive analytics improves marketing results. That's hard to dispute these days, but it's not quite right.
Relevant messaging and attractive offers improve marketing results. Predictive analytics has the "potential" to help.
It's only potential because there is so much involved in doing it right. There is a broad diversity of algorithms and approaches for all sorts of purposes. As a result, most companies enlist skilled data specialists and find themselves clarifying their objectives because the typical approach is going to be expensive.
But it does not have to be anymore, depending on what you want to do.
Wed, 05/13/2015 - 16:09 - Mark Klein
Right now, with widespread recognition of the importance of relevant communications, the ‘360 degree customer view,’ is a frequently heard piece of marketing speak. It’s also a misleading piece of s*** if all you want to do is predict the buying behavior, risk, and product interests of each customer so you can properly target campaigns or personalize product offers and recommendations.
The idea behind ‘360’ is that with all the data companies are collecting about their customers, it’s now possible to build customer profiles that will identify which customers are good prospects to buy a given product.Read More ›
Mon, 05/11/2015 - 21:16 - Mark Klein
I see it all the time at trade shows – booths with signs that claim, “We’ll help you identify your best customers!”
My mind boggles at the idea that companies need help figuring out who their best customers are. Of all the many types of customers a company has, the best ones should stand out brightly. They buy the most, they’ve been around the longest – so they should be known to many employees, from shipping clerks to sales people to accounting. Even basic techniques like RFM can find these customers if you don’t already know them.Read More ›
Fri, 05/08/2015 - 16:28 - Peter Moloney
We saw an announcement in the WSJ recently about an agency start-up at WPP. The new agency is called “Gain Theory” - presumably because WPP now understands there’s a business in helping people sort through the data they’re choking on to unlock the value within.
“There’s so much more information available about business performance, consumers, what’s happening with marketing campaigns” says Jason Harrison, Gain Theory’s worldwide CEO.Read More ›
Thu, 04/23/2015 - 17:24 - Peter Moloney
According to data published by Caslon & Co. based on research by the DMA and PODi, personalized marketing content generates response rate 3x or more than static content for various marketing objectives, including ordering.
Read More ›