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Personalization Is Now Key to Insurance Marketing ROI

Personalization has become a mantra for all direct marketers, but it is especially relevant to AccuList’s insurance marketing clients. According to an Accenture 2018 study, 80% of insurance consumers are willing to share data to get more personalized offers, messages, pricing and recommendations from auto, home and life insurance providers. Although over 70% of insurance marketing campaigns claim to use some personalization, surveys show marketers are not doing enough to satisfy that customer demand. As a result, marketers can miss out on personalization’s proven power to improve response and ROI, lower acquisition costs, and enhance cross-selling.

Personalization Revs Mail’s Acquisition Power

While digital data often leads conversations, the importance of personalization in traditional direct mail, still an insurance workhorse, should not be ignored. After all, direct mail is considered more personal than digital by 69% of recipients, giving personalized content extra power. Direct mail also gets an average 9% response rate for house lists and 5% for prospects, per 2018 DMA/ANA data, compared with 1% or lower for other channels. Plus, for the digitally addicted, adding direct mail to digital bumps up conversion by 28%. A recent article on insurance marketing from agency Ballantine advised on top ways to maximize mail ROI, and, no surprise, personalization dominated—assuming clean, up-to-date mailing lists with important targeting parameters. First, marketers can use variable data printing and database parameters to personalize content and images to match the consumer’s life stage, so, for example, auto policy creative targeting a young single first-time car buyer differs in messaging and images from the creative for an older couple with a minivan. Next, marketers can personalize rates by taking into account factors such as the age and gender of the targeted recipient. And they can tap personal interests by leveraging affinity relationships, such as a specific sports team or association affiliation, via targeted discounts. Personalization shouldn’t stop with the mailing package but should then continue through the customer journey. Marketers can study the sales funnel to find when leads are most likely to drop out so that processes can be simplified, streamlined and further personalized to boost conversion. Simple examples include pre-filled forms and postage-paid return envelopes.

It’s All About Prospect and Policyholder Data

Meanwhile, One Inc., an insurance software company, offers a helpful roadmap to digital personalization. As with direct mail, marketing begins with quality consumer data and analysis, taking a step beyond age, gender and location to parameters that identify unmet needs and customer value for targeting and prioritization—such as a recent move, a new home, a new baby or an upcoming policy expiration date. Next, marketers need to track lead and policyholder actions to decide on the specific digital behaviors that will trigger a personalized response, say following up an online request for information with a series of lead-nurture e-mails. Then, marketers can design and test small campaigns of personalized content and process before expanding to more channels and audiences. Once strategies and processes have been developed and tested, an investment in marketing automation technology can follow, including AI algorithms using real-time data and behavior to tailor offers, customer service, cross-selling, lead scoring and more. Indeed, the advent of AI in the digital world is accelerating consumers’ personalization expectations, and the impact on the insurance industry is expected to keep rising in 2019, per articles.

Retention Relies on Smart Personalization, Too

Meanwhile, studies show personalization is also essential to cost-effective policyholder retention. One Inc. provides this example: An auto policyholder has a documented poor experience when filing a claim, putting the client in a “high risk” category for churn. Based on industry data that policyholders typically shop roughly two months (60 days) prior to policy expiration and that roughly one-third of shoppers switch carriers, marketers use the policy expiration date and contact information to send a letter 60 days before the policy is set to expire, personalized by the policyholder’s name, of course. The letter includes a personal note that acknowledges the poor experience and pledges to do better, an offer of a discount for renewing early, and rep contact information for quick response to questions or concerns.


Fundraising Challenges Include Gen Z, E-mail, AI

For AccuList USA’s nonprofit fundraising clients and fundraising consultants, 2019 will be another challenging year. Successful direct marketers will need to adapt to changes in demographics, technology and donor targeting, to name just a few trends recently cited by the Donorbox Nonprofit Blog.

Move Over Millennials; Here Comes Gen Z

Donorbox is sounding the alert ahead of the next demographic wave. While the Millennial generation is still the biggest cohort in the workforce, Gen Z is arriving. Born after 1996, they now make up an estimated 27% of the population and will account for 40% of all consumers by 2020. How are they different? The “2017 Global Trends in Giving Report” found that Gen Z members are interested in giving to many different causes, especially those involving youth, animals and human services. But to win the attention of these digital natives, messaging must be concise and engaging, offering an immediate experience that cuts through the marketing noise they routinely filter out. Gen Z is also the first mobile-only generation, so website, e-mail and donation forms must all be optimized for mobile. Plus, Gen Z likes visual-based platforms, so fundraising creative should use photos, videos and infographics to tell stories that grab attention.

Donors Expect Hyperpersonalized, Targeted Messaging

Accustomed to sophisticated digital technology that tailors messaging a la Amazon and Netflix, today’s donors expect a personalized, targeted approach that takes into account demographics, giving history and even psychographics. A generic appeal will fall flat. That means segmenting donor and prospect lists and using variable data printing to specialize messaging to account for generational differences and other demographics. It means tailoring the “ask” to the prospective donor’s income and giving history. It means refining giving/donation pages to highlight projects and wording that will resonate with the target donor group.

Donors Embrace E-mail Fundraising If Done Well

E-mail has gotten a bad rap recently because of crowded mailboxes, spam filtering and low response rates, but there is a lot to be said for revisiting e-mail strategy in 2019. For one, research shows that donors willing to donate through e-mail rose from just 6% in 2012 to 28% in 2018. Second, low-cost e-mail has an ROI of 122%, much higher than direct mail, social media and paid search. Finally, a backlash against social media abuses, including among the mobile-first generation, is improving e-mail’s digital appeal. But e-mail needs to be done well to deliver donors. Personalization and targeted messaging is expected, so, again, segment the audience by demographics, desired communication frequency, giving status, etc. Make sure there is a clear call to action, a compelling subject line, simple attractive visual design, and, most of all, impactful storytelling.

AI Can Help Turn Data Into Dollars

Artificial Intelligence (AI) is on its way to becoming ubiquitous in our society, and that will include fundraising. AI broadly refers to programs, computers and machines that perform “intelligent” tasks such as planning, learning, problem-solving, communication and more. AI can help nonprofits gather more data and use it better to advance missions and marketing. For example, one of the simplest uses of AI is a chatbot that interacts via messaging services like Facebook Messenger, Slack, Telegram, etc. A nonprofit can create a chatbot to handle donations, register members and distribute information about programs and services. AI also can be used to personalize donor journeys with tailored, personal messages based on real-time donor behavior and timed to encourage contributions. Finally, AI can weaponize data for more cost-effective donor development and marketing. For example, a donor’s giving and volunteering history, event attendance, affiliations, relationships, and data from wealth screening tools can all be analyzed to predict a potential donor’s likelihood to give a major gift.

See the complete list of eight fundraising trends identified by Donorbox.



fundraising trends for success

2019 Forecast Stresses Mobile Marketing Innovation

As mobile use has expanded to include the majority of the population, mobile marketing has become integral to AccuList USA clients’ multiple marketing channels, including direct mail’s mobile-scanned QR & AR codes, mobile-optimized e-mail, nonprofits’ mobile giving and retailers’ geo-located ads and apps. When the average U.S. adult is expected to spend more than three and a half hours a day on a mobile device and 70% of digital advertising is already mobile, it’s no surprise that 2019 is forecast to be another banner year for mobile marketing. A recent ClickZ post outlines some of the big trends to expect.

Increased Efforts to Combat Mobile Ad Fraud

Mobile ad fraud is on the rise, doubling year-on-year during the first quarter of 2018, which also saw an increase in fraud sophistication, such as SDK spoofing and click injection. As a result, ClickZ author Luca Mastrorocco predicts that advertisers will push to avoid fraud and boost brand safety by demanding supply chain transparency from vendors, increasing use of anti-fraud metrics for mobile apps, and seeking to engage users directly via mobile network operator rather in-app.

More Apps and More Diverse Apps

Even with over 2 million apps in both Google Play and the Apple App store, Mastrorocco asserts that the mobile app landscape is far from saturation, citing innovations such as J.P. Morgan’s online banking app offering free or discounted trades in its digital investing service, the success of TikTok’s viral 15-second video app, and Facebook’s investment in a new Lasso app to compete with TikTok. He foresees even more app development and innovation ahead, especially in AI-based apps and use of virtual reality and augmented reality (AR).

An Embrace of Mobile Interactivity

Mastrorocco also predicts that interactive mobile experiences, such as IKEA’s new AR app allowing users to virtually place furniture in their homes, will blossom in 2019, blurring the line between mobile advertising and content. Gamification will play a central role in interactive mobile marketing, even among non-gaming brands, he adds, as brands use playable ads to communicate with users in a entertaining way and to join digital and brick-and-mortar sales, such as by rewarding players with prizes or discount vouchers that can be redeemed in-store.

A Focus on Real-Time Data Tracking & Analytics

Expect data-driven tactics to expand significantly in 2019. Brand marketers are forecast to increase their demand for user-centric advertising that tracks performance and analyzes results in real time to optimize media and creative in-flight. Their goals will be to both produce the best possible user experiences and more cost-effective ad spending. Brands using real-time data to produce iterative in-house creative can gain a competitive edge over those relying on agency creative, per Mastrorocco, who sees a resulting rise in experimentation with geo-location targeting and dynamic creative optimization. For the complete article, go to https://www.clickz.com/mobile-marketing-2019/221210/

Weaponize B2B Data for 2019 With These Tactics

Targeted, clean data is a key deliverable of AccuList USA’s data services and list brokerage efforts for business-to-business marketing clients. And as those clients prepare their 2019 plans, we urge them to take basic steps to ready their data-driven marketing for maximum performance. A Martech Today post by Scott Vaughn sets the stage by recommending five essential data-oriented strategies for B2B.

Precisely Defined Audience Targets Using Clean Data

Good response and conversion depend on identifying and engaging the right audiences, meaning the right companies and the right decision-makers within those companies, Vaughn reminds. To target that right audience requires processes for capturing critical data about prospects, customers and their purchase journey with precision, he asserts, and recommends a strategy of starting with a smaller universe of accounts and roles to more precisely define best targets–and then testing and using advanced strategies, such as predictive marketing and intent-data modeling, to expand to more accounts and buyers. But that kind of data targeting only works if marketers are looking at quality data, so data hygiene is another necessity. When a recent DemandGen survey finds that more than 35% of the data in existing databases is unmarketable on average, avoiding wasted dollars means instituting a “get clean, stay clean” data-hygiene effort for 2019, Vaughn urges. The hygiene regimen should include regularly auditing of data-capture processes and sources, using filters before data can enter the database, and maintaining a cleansing process to eliminate records that are invalid, non-standardized, duplicate or non-compliant.

Permission-Based Trust and Speedy Follow-up

Because today’s buyers are leery of companies and brands that don’t treat their information with care and because stringent data-privacy laws are being deployed around the globe, B2B marketers must have a proactive permission-based marketing plan for their data, warns Vaughn That includes asking for opt-in everywhere and having very visible, clear explanations of how behavioral data, such as website cookies, is used. Meanwhile, prospects and customers have not only come to expect data privacy, they have become used to the rapid, real-time response of the digital market. Yet for many B2B campaigns, it takes two or three days to follow up on a lead or inquiry, or even seven or eight days just to get leads loaded into marketing automation or CRM software! Vaughn proposes a concerted effort to speed data handling by identifying areas where data can be routed faster and reaction time reduced and then initiating sales and marketing training on speedier handling at each stage of the customer journey. That’s why many executive teams now prioritize a measure of “pipeline velocity,” meaning the time from when an opportunity is created to when the deal is closed, to improve revenues.

Agreeing on Measurements That Matter

Accurate, targeted, speedy data processes don’t automatically result in ROI improvement, however–not if data analysis ends up focused on the wrong metrics. Vaughn reports that high-performing marketing teams use insights with these key ingredients: agreed-upon key performance indicators (KPIs); tools that can measure performance; and easy-to-use dashboards that can help all stakeholders (marketing, sales, execs, etc.) make smarter decisions. For his complete article, see https://martechtoday.com/5-essential-strategies-b2b-marketers-must-master-in-2019-228066

Why You Should De-dupe Your Data

In today’s data-driven marketing, data is not only the most important asset that your company can have but can also make or break your campaign. Having clean data impacts not only marketing activities but also impacts your reputation, operations and decision-making. De-duping is one of the most important aspects of overall data hygiene. Duplicates can be found on many levels of data; they arise at the household level, individual e-mail level or company level. But before you can de-dupe your data, you must make sure you have a clear definition of what a duplicate is. Some businesses de-dupe based on a household address for direct mail campaigns, others on an e-mail basis for e-mail marketing campaigns, and some de-dupe based on the company level. If you are still not convinced that you need to de-dupe, consider the following benefits:

Avoiding Different Offers to the Same Customer

Having direct mail going out to the same household can be costly, and it can also be extremely embarrassing. For example, you send two different direct mail creatives to the same household. As one of the records was a customer, you decided to provide a returning customer 15% off, while the other record was marked as a prospect and only got 10% off. Now the person opening both direct mails will be confused by having two different discounts, and the company also can face a PR nightmare.

Cutting Unnecessary Cost

It goes without saying that having duplicates increases your cost. For example, assume you are doing a direct mail creative which costs you $5 per mailing. Your list contains 10,000 recipients. The total cost of mailings therefore is $50,000. If you decided to de-dupe, you would find out that 10% of your mailing list was duplicated. Therefore, $5,000 was a waste of resources. It would have been much cheaper to de-dupe prior to deploying your campaign.

Good Analytics for Decision-making 

Analytics is important not just from a perspective of understanding how your marketing and sales is performing but also from a decision-making perspective. By having duplicates in your CRM, you are going to be double-counting your list capabilities, miscalculating your true growth rates, and getting the wrong rate of responses. If you are looking to make a decision on future campaigns, basing it on duplicate data will give you the wrong list count, wrong budget and possibly the wrong creative picked (especially if you are basing it on an A/B testing done previously).

Reducing Customer Service Confusions

If there are duplicates in your CRM system, having clients call in, e-mail or come into the store will make it difficult for staff to track down the right individual. For example, Mary Smith is found twice in your CRM with the same phone number. She calls in to your customer support to inquire about her order status. Your customer service rep decides to pull up the customer account by phone number and finds two records. Now she has to put the customer on hold while she checks both accounts to try to locate the last purchase before she can even assist the customer. Not only is it wasting everyone’s time and making customer service inefficient, it also makes the customer have a bad customer service experience.

Preventing Potential Loss of Sales

Finally, the biggest impact that duplicates have on your business is a potential loss of sale. If you have duplicates, you do not have a true view of all prospect or customer activities. Therefore, you could be excluding prospects from a sales call because your lead scoring system indicated that they are not ready. However, if the data from both records was combined, you would have all signals indicating they are ready to be passed on to sales. With duplicates, by the time you figure it out, a customer may have already lost interest and gone with your competitor.

You can easily de-dupe your list by using a de-duping tool that will require less effort to identify duplicates and establish a master record than is required to deal with the consequences of duplicate data. De-duping should be part of your data-cleaning initiative, either prior to any major campaign or on a yearly basis.

If you are interested in data clean-up and use of a de-duping tool, contact guest author Anna Kayfitz, CEO of StrategicDB Corp.

How Can Performing Arts Marketing Find the Best Targets?

Since AccuList USA has successfully worked with performing arts and cultural organizations in audience development, supplying data and data services to help them acquire new patrons, ticket buyers and supporters, we were happy to see a recent npENGAGE.com post underscoring the key role of quality data targeting in performing arts marketing success.

Identify & Understand the Best Audience

Basically, performing arts marketers must acquire prospects with the potential to become long-term, high-value patrons; retain them; and maximize their dollar contributions. That challenge is not easy when studies show 72% of single-ticket buyers do not return, points out npENGAGE article author Chuck Turner, a senior analytics specialist at the Target Analytics agency for arts and cultural clients.  So a cost-effective marketing strategy will rely on data analytics both to target those with the highest relationship potential and to personalize messaging and offers for boosted ROI and loyalty.

Target to Increase Revenue & Donations

Analysis should look at the value of patrons in terms of the average of all revenue earned, including things such as gift shop and concession sales and tuition for classes offered, as well as ticket sales and subscriptions, Turner urges. That means targeting likely high-revenue prospects, plus, since it’s easier to increase revenue from existing patrons than to acquire new ones, targeting the right members of the audience pool for offers of add-ons and upgrades. For both groups, Turner suggests selecting those with higher average income, and thus higher capacity to spend. According to the Bureau of Labor Statistics, the average high-income person spends over $8,200 on entertainment each year, so if average program revenue per attendee is $34.33 (the average performing arts program revenue per attendee in 2013), there’s room to grab a bigger share! When it comes to increasing donations, external list data on both discretionary spending ability and nonprofit donation history can be used to target significant nonprofit donor prospects for acquisition, and that data can be appended to the existing audience database to better target for add-ons and upgrades. Turner points to Target Analytics findings that, on average, up to 40% of nonprofit audiences can be top prospects for significant contributory giving–if you communicate to prospects with a message that resonates with their mission-based interest.

Segment to Maximize Lifetime Value

With limited resources, performing arts marketers need to be more strategic and proactive in focusing on the most valuable segments. This means tracking lifetime value, defined as the net profit attributed to the entire future relationship discounted to its current value. Again, quality data can help target the right people–those with high lifetime value–with the right message. For both audience database and prospecting mailing lists, Turner stresses selecting targets based on charitable giving and income/discretionary spending ability. Conversely, knowing those unlikely to donate or spend helps minimize investment in unprofitable segments. For more, see https://npengage.com/nonprofit-fundraising/arts-fundraising-and-analytics/

Skeptical of Marketing Tech Buzzwords? You’re Not Alone

To help support direct marketing clients, AccuList USA tries to keep up with the latest in marketing technology and tactics, and so we’ve been bombarded along with clients by advice on how to seize opportunities with personalization, “big data,” omnichannel, real-time marketing, and, most recently, artificial intelligence (AI). Marketers struggling to find room in real-world budgets often worry that they’re falling behind in an escalating martech arms race! New research by Resulticks—a survey of over 300 marketing pros across industry verticals—offers interesting perspective.

Big Expectations: Big Data and Personalization

“Big Data” was the hot topic at the 2013 DMA Annual Conference, with 50% of marketers enthusiastic about investing. But making practical sense of those data torrents turned out to be more difficult than expected. Resulticks finds that only 16% of today’s marketers have fully implemented big data solutions, 20% have given up on the concept, and just 27% rank big data as a top priority now. Part of the problem is overhyped, underperforming martech platforms, per the survey, with 21% of marketers complaining that vendors overpromise and underdeliver. In contrast, personalization—meaning targeting that goes beyond basic attributes such as name to deeper parameters such as purchase history and online behavior—has done better in fulfilling expectations, with 60% of today’s marketers reporting full or partial implementation. The only fly in the ointment: Tech investments have not always kept pace with enthusiasm, and only 20% rate their software ability to deliver personalization as “excellent.”

Technically Challenged: Omnichannel

Back in 2014, one study found almost half of retailers saying they were going to commit to an “omnichannel” approach. Unlike multichannel marketing, where marketers touch customers at multiple points on their journey, the ambitious goal of omnichannel marketing is to create a seamless customer experience across all channels. Resulticks finds that only 9% of today’s marketers describe their approach as omnichannel, compared with 63% who use a multichannel approach. Technical barriers explain omnichannel’s failure to thrive. Only 35% have fully or partially implemented the required software platforms for omnichannel, and, among those who have bet on platforms, 58% rank vendor execution as “poor” to “fair” (compared with 13% who give their omnichannel software “excellent” marks).

Enthusiastic Embrace: Real-time Marketing

There’s a better report card for the “real-time marketing” that rapidly uses data across channels for more timely, targeted engagement in the customer journey. Resulticks reports that 49% of marketers rate their real-time marketing ability as “good” to “excellent,” that half say they have fully or partially implemented real-time marketing solutions, and that 47% say real-time is a priority for their organizations today. However, many marketers may need to adjust their definition of “real-time” if they want to compete for customers’ expectations; 47% are defining real-time as responding in an hour or more (with 20% taking a day or more), compared with the 12% delivering true real-time response in the milliseconds.

New Kid on the Block: AI

Social media giants have been betting on AI, and marketers are following their lead, with one study showing more than 50% planning to adopt AI in the next two years. However, Resulticks’ survey finds almost half (47%) of the marketers polled already rate AI as overhyped. Here’s a big source of that skepticism: 43% of marketers believe martech software vendors overpromise and underdeliver, and 69% rate their vendors’ ability to execute AI as “fair” to “poor.”

To download the study report, go to https://www.resulticks.com/marketingflabtofab.html

2018 Offers New and Old Marketing Data Challenges

As a data broker, AccuList USA is committed to helping its data services clients with data gathering, quality, targeting and analytics. Looking ahead to 2018, we see new and old data issues for direct marketers. A recent Forbes magazine interview with Tom Benton, the CEO of the Data & Marketing Association (DMA), highlighted six of those data challenges for next year.

Perennial Problems From Quality and Integration

Given the huge amount and types of data streaming into marketers, many are struggling to decide which data sets to use and which to ignore, how to keep data accurate and actionable, and how to integrate new data with existing data. Several practices for 2018 success are suggested: clear business goals and target audiences to narrow the data focus; a clear test case for examining or onboarding data; regular examination of new and legacy data accuracy and value; and systems for integrating new data with existing data, especially given the new types of data streams available–everything from wearable gym trackers to chatbots to grocery checkouts.

New Opportunities Via Technology

The Forbes overview also cites the exciting opportunities coming from new marketing tech tools, such as augmented reality (AR), machine learning and AI. Are you ready to take advantage? The articles offers the example of how 1-800-Flowers improved customer experience by integrating the company’s website with artificial intelligence (AI) technology and natural language processing to understand customer demand and then search the product catalog to deliver customized recommendations. Use of AR today ranges from AMC theater movie posters to Simmons Bedding Co. product demos to labels of Australia’s 19 Crimes wine brand. And consider that digital growth company Urban Airship has developed a machine learning algorithm to analyze mobile customer behavior and help app publishers identify the most loyal users and predict those that are likely to churn to improve retention investment in specific customer segments.

Challenges With Cybersecurity and European Rules

If customers don’t trust that sensitive information will be safeguarded, they’ll stop engaging, hurting not only individual brands but the data-driven community. Massive data security breaches made headlines in 2017. That makes data security a top concern to retain customers and prevent risk in 2018, per Benton. Meanwhile, American marketers who seek to tap European markets need to get ready for the enactment of the European Union’s new General Data Protection Regulation (GDPR), taking effect May of 2018. The regulations will set a new baseline for consumer privacy rights and focus on ensuring that proper consents are obtained for a range of data sets and that other privacy rights are observed, such as the “right to be forgotten.”

For more on 2018 data trends, read the Forbes article.

How Direct Mail Retains Its Place in Marketing Tool Chests

Direct mail, perhaps because of its proven workhorse status, keeps a low profile in marketing trend articles, except for the periodic “direct mail isn’t dead” reminder. Yet, despite growing use of digital channels–web, e-mail, social, mobile–AccuList USA and its many mailing list and direct marketing clients join the majority of marketers in continuing to rely on direct mail. Why? Marketing data backs up direct mail’s proven response power and ROI.

Data Proves Mail’s Staying Power

In fact, Target Marketing magazine’s latest study “Marketing Mix Trends 2010-2016” shows that 69% of marketers surveyed either increased or held steady on direct mail spending in 2016. The 6% of marketers decreasing their mail budgets were the smallest group since 2010. A reason for direct mail’s survival as a go-to marketing channel can be seen in the the Data & Marketing Association’s 2016 “Response Rate Report.”  The report showed 2016 direct mail response rates leaping to 5.3% for house lists and 2.9% for prospect lists, the highest DMA-tracked response rates since 2003. By comparison, 2015’s reported rates were 3.7% and 1.0%, respectively. More significantly, no other channel in 2016 had response rates over 1%! Direct mail response allows it to compete in ROI despite higher costs, coming in third at 27%, close to social media’s 28% (e-mail leads ROI).

Basic Tactics Keep Winning for Direct Mail

Bottom line, direct mail’s evergreen power lies in delivering on direct marketing basics. To that end, industry pros–agencies, data brokers, printers, mailing houses and creative services–still need to guide clients toward success. Rather than exploring the diverse creative and tech-savvy ways to meet direct mail goals, it is easier to focus on a few big mail “don’ts,” and that’s the tack recently taken by Summer Gould of Target Marketing magazine in “5 Things Not to Do in Direct Mail.” Obviously there are more than five missteps out there, but Gould chooses key, highly avoidable pitfalls: a hard-to-read font (yes, point size matters); dishonesty (seeking a sale at the cost of long-term customers and reputation); old, bad data in mailing lists (one of our bugaboos); a missing or unclear call-to-action (a response killer); and a promotional focus on features over benefits (a basic marketing no-no). Direct mail–no matter how loaded with interactive QR codes, variable data printing personalization and multi-channel customer analytics–will miss the mark if it misses on these basics! For more, go to http://www.targetmarketingmag.com/post/5-things-not-to-do-in-direct-mail/

 

How B2B and B2C Data Silos Spoil Marketing Harvests

Silos can be great for agricultural storage, but they spell trouble when we’re talking about customer data trapped in company departmental and systems silos. As a data services provider in the age of multi-channel “big data,” AccuList USA certainly has client experiences that attest to the value of integrated marketing data and analysis, and the dangers of data silos.

Data Silos Undermine Big and Small Marketers

Research shows the magnitude of the problem. For example, a recent blog post by Veriday, a digital marketing company, noted that more than 80% of marketers say data silos within marketing obscure a seamless view of campaigns and customers. And that doesn’t even consider data trapped outside marketing in IT, sales, etc. In larger, older companies, many data silos result when outdated processes and separate information systems hamper linkages. Yet silos are not just a big-business issue given the average small business today is using 14.3 different systems, as the Veriday post points out. Yes, information can be transferred between silos via import/export or manual efforts, but this risks duplication, errors, delays, inconsistent hygiene and inaccurate updating. Marketers are likely to face poor immediate ROI and wasted future opportunities from an incomplete and inaccurate picture of customers, campaigns and channel results. Smart marketers will invest in solutions, such as third-party support, software for content management and marketing automation, and data warehousing.

Silos Prevent Personalized B2C Marketing Success

In business-to-consumer marketing, data silo risks are growing more acute, stresses a Forbes magazine article by Denise Persson, CMO at Snowflake, a data warehouse firm. She cites Accenture survey results showing that, while the promise of a deal or discount was the top driver of customer loyalty last year, in 2017, 58% of customers find marketing programs that are highly tailored to their needs much more enticing. As customers demand more personalized marketing, marketers can embrace targeted, contextual approaches using search terms, browser history, etc. But, Persson warns, if each marketing channel–website, social media, e-mail, online ads, direct mail–uses a different set of data to develop a different channel strategy, marketers will end up with a fragmented customer picture delivering a fragmented brand experience! Persson urges centralized storage and analysis to allow for a full line of sight into customer activity; real-time data access and analysis; channel attribution visibility; and tailored loyalty programs.

B2B Silos, Separated From B2C, Miss Audience

Another type of silo can impact business-to-business efforts: isolating business-to-business from business-to-consumer data. A blog post by Ajay Gupta, founder of Stirista, a digital marketing agency, points out the myopia of failing to link business and consumer data, especially now that digital media is blurring the line between professional and personal lives. Gupta gives the example of a company that wants to market a personal electronic device by targeting a proven business prospect list with only B2B e-mail addresses. If the company enhances the prospects’ B2B info with B2C data, it could expand its reach by sending out e-mails to B2C addresses, direct mail to home addresses, online display ads via digital cookies, plus targeted social media ads! Linking B2B and B2C data is a great tool for B2B onboarding, argues Gupta. Since data management platforms match B2C e-mails at a higher rate, linking B2B data to B2C e-mail addresses boosts reach. Creating custom audiences on social media can also benefit from a B2B link to B2C. Since most people use their personal e-mail addresses when they create social media accounts, connecting B2B data to personal e-mails will help reach far more B2B prospects on social media, too. Check out Gupta’s complete article.