I went to a prospective client meeting yesterday to discuss opportunities for growing their membership base. One of my first questions was to ask about their data capture strategy. Not surprisingly, (more…)
Archive for September, 2008
Inventory Data Capture Strategies And Increase ROI Potential.
Tuesday, September 30th, 2008Any Marketing Lessons In The $700 Billion Bailout Debate?
Thursday, September 25th, 2008I participate in monthly peer group with other St. Louis area company presidents. During our meeting on Tuesday we spent a lot of time talking about the financial crisis and the proposed $700 billion bailout proposal. It occurred to me, as I listened and commented, that there was a marketing lesson in all of this. (more…)
ROI Vs. Profit. What’s More Important? It Depends.
Wednesday, September 17th, 2008I came across this short video that offers some perspective on why we need to think about ROI and profit. And while it’s important to focus on ROI, sometimes just driving the highest ROI number does not translate into profitability. The guy in this video looks a little scary, but the illustration he uses gets the point across very well.
Don’t Forget That There Are Humans Behind That Data.
Wednesday, September 10th, 2008I just returned from a client meeting where we presented the findings of a customer analysis. If you read this blog you know that I’m a HUGE advocate for uncovering the hidden gems in transactional and operational data, and then transforming that information into actionable marketing strategies and tactics to increase marketing ROI. We uncovered plenty of growth opportunity and that always excites me.
But, as we were presenting the findings I was having a parallel conversation with myself. I’m sure that sounds strange, but let me explain. Like the graphic below, I had all of this information flying around inside me head, and I wanted to ensure that the information we presented was supported by the overall knowledge we have of our client’s business … that I was being clear about how to put the findings into meaningful actions. It’s always the subtext to the data that is the difference between good looking charts, graphs and percentages, and the effective use of the information.
It’s the human element. As marketers, we have a responsibility to understand our markets …get into the dirt and rummage around to really understand what’s important and what’s not. And then combine that understanding with tools like data analysis to make sure we’re squeezing out every bit of marketing ROI possible.
When we completed the presentation our client was energized by both the findings and translating opportunities. It says we were successful in bringing the human element of understanding to their challenges and objectives.
At that point, the parallel conversation ended and we agreed on next steps.
Obama Offering Lesson In Data Gathering and How To Leverage It.
Tuesday, September 2nd, 2008This is not a partisan post, but rather an observation on what we can learn about gathering data and then leveraging it to produce maximum ROI. The Obama campaign recognizes the power of data, and uses it to build their brand, involve supporters in a dynamic experience and create a highly intelligence-based approach to understanding their supporters.
Here is the first page that comes up when you go to Obama’s Web site. Pretty simple, yet a well crafted data-collection tool. It’s a good illustration of how to develop an personal conversation with your target.
There was an informative article on cnn.com today from Leslie Sanchez entitled, “Obama’s high-tech edge in presidential politics.” A self-identifed Republican, Sanchez was director of the Bush White House Initiative on Hispanic Education from 2001 to 2003 and is the author of “Los Republicanos: Why Hispanics and Republicans Need Each Other.” She is not a paid consultant to any current candidate. Sanchez is CEO of the Impacto Group, which specializes in market research about women and Hispanics for its corporate and nonprofit clients. It’s a good read and offers further insight into how the Obama campaign is taking data and using it in ways here-to-fore not used in political campaigning.
As marketers search for strategies to improve their overall ROI, I think there’s a lesson to be learned here. Take a few minutes and see if you can identify all of the opportunities the Obama campaign gives visitors to share information … just like the hidden pictures in Highlight’s Magazine. That dates me.
