How to make a marketing impact by finding and using the data you already have in your organization.
By Scot Riches, Chief CRM Officer at RI
So where do you start?
While external data sources can be powerful, the data you need to make innovative and impactful marketing programs is often right under your nose, and inside your own organization. This “found data” can fuel new ways of achieving your marketing objectives.
Leveraging found data requires us to look around at what’s available (particularly beyond the marketing department), to look at things from a fresh perspective and to question traditional approaches.
Consider starting with these questions:
Do I have supply chain data that can help me create more value for customers?
Domino’s created their famous pizza tracker app based on data that already existed. The app lets customers know exactly where their pizza is in the process and when to expect it at their door. This seemed revolutionary, but in reality Domino’s was already tracking operations data to measure the quality and speed of the pizza ordering, prep, cooking and delivery process. In other words, this was a classic case of “found data.” All Domino’s did was make this data accessible – and in the process created value for customers in a new and innovative way.
Do I have research data that can be used to trigger campaigns?
Most marketing organizations do annual or quarterly research studies, including everything from brand trackers to Net Promoter Score (NPS) research. This kind of ongoing research provides valuable insights that are often critical to marketing success. But what about looking beyond just the insights? Research conducted at a customer level produces “found data” for marketers as well. High NPS scores indicate customers most willing to recommend your brand (promoters), so why not trigger invitations to your customer advocacy program for each customer recording a high NPS score? On the other hand, low NPS scores (detractor) could trigger customer retention offers.
Do I have marketing operations data that can help me gain deeper customer insight?
Within the marketing team, objectives and key performance indicators (KPIs) are established and success is measured based on our progress towards these goals. But marketing also generates data from metrics that may not be included in our KPIs – but are worth a second look. One of these metrics we are seeing more of is “Velocity”. Velocity is not something you’ll generally see as a marketing KPI. But the idea of measuring how fast customer data is travelling is gaining ground. How quickly are customers getting what they need on our websites, or in our stores? How quickly are we responding to customer requests? Is this meeting or exceeding customer expectations? Velocity data is often “found data” derived from the difference between two points: the days elapsed between a first sales meeting and a transaction, or the minutes elapsed between a click and a customer call. Are there velocity metrics hiding in your data that you can use to your advantage?
Do I have customer preference data that I can repurpose?
Often, customer preferences (likes, dislikes, recommendations) are collected and produced to serve one purpose but can be leveraged somewhere else as well. Kobo’s book title recommendation engine is an important feature of the site, providing each user with a tailored list of new books to consider. Kobo’s marketing team also leverages the individual recommendation data in outbound emails, making marketing messages more compelling, relevant and successful. If you have customer preference data, think about the potential marketing applications it could have and give your marketing programs additional impact.
Found data offers tremendous benefits to marketers, but you’ll never find it unless you start looking. Marketers that take the time to look will not only set themselves up for more impactful programs, but will drive marketing innovation as well.