Data-Driven Marketing: What Corporations Want, What Consumers Demand
Some say that today’s marketers are drowning in data, yet starving for information. Data is at the heart of all marketing initiatives, and corporations are increasingly relying on their data to learn about customers, invest in new products and services, adjust sales and marketing activities, and assess new market opportunities. The concept of creating relevant communication is becoming table stakes, and the marketers with the most targeted strategies will be the ones that win.
According to Barb Pellow, Group Director of InfoTrends, “Service providers that are building out data-driven solutions that promote customer intimacy are strategically building a loyal client base.” In the Canon Solutions America-sponsored webinar entitled Data-Driven Marketing: What Corporations Want, What Consumers Demand!, presented by Printing Impressions and Target Marketing magazines, Pellow discusses industry research suggesting that 99% of companies believe that some form of data is essential to marketing success. Furthermore, 57% of CIOs anticipate that the data that their organizations will need to handle will increase by 33% in the next 12 to 18 months. In addition, highly personalized color direct mail was found to generate a typical response rate of 6.5%, which is over three times higher than the usual response rate from non-personalized mail.
Industry research suggests that 99% of companies believe that some form of data is essential to marketing success.
The challenge, Pellow confirms, is obtaining quality data. She states, “On average, U.S. respondents feel that 27% of their revenues are wasted due to inaccurate or incomplete customer/prospect data. Also, over a quarter of respondents believe that their data is inaccurate.” Managing quality data leads can enable businesses to enjoy increased profits. In this webinar, Pellow shares insights from InfoTrends’ research to reveal specifics about corporations’ and consumers’ preferences for data-driven marketing. She also explores how savvy service providers are turning quality data into insights and how marketing success is linked to these high-quality data insights. For example, a detailed understanding of customer behavior by channel, geography, and season can assist in developing long-term business strategies as well as short-term marketing and merchandising decisions. To be successful in today’s market, service providers must understand data mining and analytics. They also need to establish the right partnerships so they can help marketing executives with building out responsive and insightful campaigns.
Joining Pellow in this webinar is Luke Heffron, Senior Vice President of Integrated Marketing at SG360°. Heffron shares how this Chicago-based firm is building teams to collaborate with marketing executives. Through its EMPIRICALinsights division, SG360°’s focus is on helping clients develop effective marketing programs that foster acquisitions as well as customer retention, win-backs, and loyalty. When it comes to achieving brand loyalty, the key is understanding the viewpoint of an individual customer while integrating communications across a variety of channels. Heffron notes, “Data breaks down into two separate areas — process and content.” During the webinar, he shares real-life examples of how his company is applying data to create actionable campaigns for customers.
Join Pellow and Heffron as they share specific insights about what corporations want when it comes to data-driven marketing campaigns... and what consumers demand!