A recent MediaPost research brief revealed some interesting findings about the potential for in-bar marketing. The Arbitron Bar Media Report claims that younger individuals (age 21-34) who frequent bars tend to belong to a difficult demographic to reach via traditional marketing channels because of their increased use of newer consumer media technologies like TiVo and streaming online content.
Obviously, this demographic is not every company's target customer, but has potential nonetheless. The difficulty many businesses would have with this, technique, however, is tracking campaign performance and the resulting conversions. But, behavioral targeting technology allows for relevant marketing execution and effective measurement.
For companies using this tactic, it would be important to look at the multi-channel metrics for marketing campaigns across different regions where they've implemented this approach via digital signage, experiential marketing, video, etc. A comprehensive marketing database allows marketers to easily create a segment for analysis in terms of sales performance among current customers who fit the target demographic in each region.
JuiceMetrIQs users can now compare sales, acquisition, and customer demographic data from different segments side by side, making it easier to identify segment activity in relation to total sales.
Additionally we've re-introduced the data chart builder where users can create charts based on the type of data, segment, and date range displayed.
We've also included functions within our email marketing message reporting that allows users to create segments from link click activity, unifying customer purchase history with marketing interactions. This on-demand segmentation can then be used with our segment comparison tool to easily see how sales, acquistion, and demographics differs between customers who click on different links.
In terms of email conversion tracking, on top of tracking the sales revenue received from individuals sent an email, we now plot anticipated sales numbers (based on sales from the previous 6 weeks) so our clients can see how their email generated sales are performing in the context of expected sales levels.
It probably needs a little updating now, but for more information, check out our demo.
--Find out how to collect and analyze the cross-company data needed for effective marketing programs without the struggle of working with IT.--
Marketers who look for ways to work better with their IT counterparts will find ample references and suggestions from any search engine; the cyber world is littered with "how-to" papers and thought pieces. With all this information readily available, one would think the business units could easily find common ground.
Think again.
Reality shows us that the opposite is true, and for understandable reasons. While marketing relies heavily on corporate and internet networks to conduct one-to-one lead generation, branding campaign and customer service initiatives, IT departments are usually knee-deep with other mission-critical support requirements, particularly in operations and finance. These disparate pain-points invariably lead to conflict in priorities that, in today's world of shrinking budgets and staff, will not resolve itself simply by instituting a "Can't we all just get along" executive order.
Instead, successful organizations are deploying third-party web-based systems to enable marketers to search disassociated customer databases to build customer profiles and update segments in real-time; all without creating IT work requests in the process. These platforms streamline the marketing process by enabling companies to store customer interaction data -- such as sales transactions, demographics, website data and email addresses -- and segment that information to build relevant targeted marketing campaigns. Customer data is housed in a single warehouse that is tied to a concise central reporting dashboard.
This real-time information empowers marketers to plan and execute stand-alone or comprehensive cross-channel marketing programs that can include email, direct mail, online video, voicemail, surveys, live chat and lead management. The results include higher conversion rates as well as increased customer satisfaction and client retention.
Here's an example. A Midwest-based retailer wanted to create an email campaign targeted to past purchasers in order to acquire repeat business. Doing this effectively meant knowing what the customers had previously purchased, and thus required integration between the company's loyalty and POS databases with an email marketing system. The company leveraged an on-demand, marketing intelligence platform to facilitate the channel integrations and segment past purchasers who were opted in to receive commercial email messages without tying up the IT department's resources in the process. The retailer then executed a targeted campaign with pinpoint accuracy. The result: The retailer witnessed a 150-percent uplift in email marketing ROI from that one campaign.
What's more, the marketing department was able to quickly combine POS and web data on its own within the technology platform to better understand customer behavior and deliver only the most relevant promotion campaigns to subscribers. Subsequently, the retailer's website traffic increased by 40 percent within 60 days.
Steps to integation
To get started, marketers must first evaluate if such a system would be of benefit to them. Start by identifying all the areas that customer data is currently held within an organization. The outcome may surprise some. In addition to a central CRM system, accounting systems, e-commerce and product marketing departments typically have other customer data not captured anywhere else.
Once all the proverbial stones have been overturned, organizations should consider all the marketing initiatives they do, such as direct mail, online, advertising and in-store promotions. Companies that maintain more than two customer data houses and conduct at least three distinctly different marketing promotion campaigns throughout a given business year would benefit greatly from a marketing intelligence platform.
If a more in-depth analysis of market dynamics, messaging and tactics is required, companies may consider hiring an outsourced research firm. There are numerous ones to choose from of all shapes, sizes and fee structures. Wikipedia offers links to several of them here.
When evaluating web-based intelligence platforms, marketers need to ask the following questions:
- Can the system hyper-segment data from various sources based on customer behaviors and preferences?
- Can the system "Mash Up" this data into a central dashboard for up-to-date reports and analyses?
- Does the system integrate with email marketing platforms, thereby allowing companies to plan, execute and analyze such campaigns in one click?
- Does the system automatically push updates and new versions without interrupting operations or requiring in-house IT support?
Today, marketers are in greater need for data-driven business intelligence, hyper segmentation and behavioral targeting that they can leverage to create dynamic and relevant promotion campaigns. The introduction of web-based systems helps define the aggregation, analytics and automation of customer interaction data to drive campaign optimization while still keeping marketing and IT departments out of each other's hair.
By Rick Enrico
President and CEO
Juice Media Worldwide
Marketers who look for ways to work better with their IT counterparts will find ample references and suggestions from any search engine; the cyber world is littered with "how-to" papers and thought pieces. With all this information readily available, one would think the businesses units could easily find common ground.
Think again.
Reality shows us that the opposite is true, and for understandable reasons. While Marketing relies heavily on corporate and Internet networks to conduct one-to-one lead generation, branding campaign and customer service initiatives, IT departments are usually knee-deep with other mission-critical support requirements, particularly in operations and finance. These disparate pain-points invariably lead to conflict in priorities that, in today's world of shrinking budgets and staff, will not resolve itself simply by instituting a "Can't we all just get along" executive order.
Instead, successful organizations are deploying third-party Web-based systems to enable marketers to search disassociated customer databases to build customer profiles and update segments in real-time; all without creating IT work requests in the process. These platforms streamline the marketing process by allowing companies to store customer interaction data - such as sales transactions, demographics, Web site data and email addresses - and segment that information to build relevant targeted marketing campaigns. Customer data is housed in a single warehouse that is tied to a concise central reporting dashboard.
This real-time information empowers marketers to plan and execute stand-alone or comprehensive cross channel marketing programs that can include email, direct mail, online video, voicemail, surveys, live chat and lead management. The results include higher conversion rates as well as increased customer satisfaction and client retention.
Here's an example. A Midwest-based retailer wanted to create an e-mail campaign targeted to past purchasers in order to acquire repeat business. Doing this effectively meant knowing what they had previously purchased, and thus required integration between their Loyalty and POS databases with an e-mail marketing system. The company leveraged an on-demand, marketing intelligence platform to facilitate the channel integrations and segment past purchasers who were opted in to receive commercial e-mail messages without tying up the IT department's resources in the process. The retailer then executed a targeted campaign with pinpoint accuracy. The result - the company witnessed a 150-percent uplift in e-mail marketing ROI from that one campaign.
What's more, the marketing department was able to quickly combine POS and Web data on their own within the technology platform to better understand customer behavior and deliver only the most relevant promotion campaigns to subscribers. Subsequently, the retailer's Website traffic increased by 40 percent within 60 days.
When evaluating Web-based intelligence platforms, marketers need to ask the following questions:
- Can the system hyper-segment data from various sources based on customer behaviors and preferences?
- Can the system "Mash Up" this data into a central dashboard for up-to-date reports and analyses?
- Does the system integrate with e-mail marketing platforms, thereby allowing companies to plan, execute and analyze such campaigns in one click?
- Does the system automatically push updates and new versions without interrupting operations or requiring in-house IT support?
Today, marketers are in greater need for data-driven business intelligence, hyper segmentation and behavioral targeting that they can leverage to create dynamic and relevant promotion campaigns. The introduction of Web-based systems helps defines the aggregation, analytics and automation of customer interaction data to drive campaign optimization while still keeping marketing and IT departments out of each other's hair.
