Speaker: Joe DeCosmo (January 29, 2009)
- Allant: Leading Enterprise Database MSP (Marketing Service Provider) has been around for 24 years
- one of two companies in the country that provides MSP
- DeCosmo oversees about 30 employees
- Database marketing is customer-centered, captures the results of previous purchases and past services.
- It is important to have some foundation of data analysis (SPSS).
Customer Life Cycle
1.Customer Acquisition
2. Customer Growth & Retention
3. Customer Company Strategy
4. Customer Experience
Always ask yourself is the customer worth keeping? What is the value of the customer? You must evaluate customers because some customers may be to expensive to maintain.
Everything marketers do results in data that must be analyzed.
-80/20 RULE, 20% of customers results in 80% of sales.
The act of integrating data is becoming more important now than ever. When you build databases your list has to start somewhere. Clean databases are critical and will quickly pay for itself, it is important to get rid of duplications and wrong emails (merge/purge).
Database Marketing Cycle
1. Assessment
2. Analysis
3. Strategy
4. Test
5. Evaluation
Datamining is taking data, using tools and techniques to mine that data.
At the end of the day you want to better understand customers in order to better segment markets.
Good database marketers want to balance Risk vs. Reward because some customers are best if you let them go.
The only way to improve database management is to constantly keep testing.
Establish a Center of Excellence- a single organizational checkpoint
Use a Multi-Channel Response
1.Television
2.Email
3.Radio
4.Newspaper
5.Mail
Website Improvement Techniques
1.Personalization
2.Dynamic Content
3.A/B Testing
4.Multivariate Testing
