Data-Driven Marketing Power Drained by Basic Mistakes

Data-driven strategy is an ideal that many marketers, especially in the B2B world, have not fully mastered. For example, a 2015 survey of marketing professionals by Ascend2 and ZoomInfo found that only 33% of respondents called their data-driven marketing strategy “very successful.” The good news is that just 10% said their data strategy was somewhat or very unsuccessful. Still that leaves a lot of room for improvement! What's preventing marketers from maximizing data success? In a recent martechadvisor.com post, Hila Nir, vice president of marketing and product at ZoomInfo, cited the three most common mistakes sapping data-driven marketing potential, with a focus on business-to-business marketing. No. 1 is wastefully "throwing the net too wide" and hauling in confusion. While there is a mass of multi-channel data you can gather and analyze, only some data and patterns are relevant to marketing success. So where do you start? Nir advises going to the foundation of the customer relationship--the actual customer contact--and building from there. The No. 2 error is failing to frequently refresh customer and prospect data. Data value erodes over time as basics such as mailing address, job title, phone number and e-mail change. Customer Relationship Management (CRM) software that stores lots of outdated legacy data can make the problem worse. And maintaining data quality is a big job that only grows with the size of the database. That's why 79% of the most successful data-driven marketers in the survey said they outsourced some portion of data management. Finally, mistake No. 3 is simply failing to take full advantage of customer and prospect data to improve cost-effectiveness and ROI. Trying to find a path through the data weeds to ideal customer targeting can certainly be daunting and strain internal resources--which is also why many successful B2B marketing efforts turn to consultants for database analysis. Needless to say, DBM Designs is among the data service partners who stand ready to assist! For the full article, go to http://www.martechadvisor.com/articles/audience-market-data/3-mistakes-that-kill-any-datadriven-marketing-strategy/

Surprise! Political Direct Mail Key to Wooing Millennials

In this 2016 election season, candidates and causes are leaving no channel untapped in the drive to woo support, with the investment in digital media higher than ever before. Indeed, it is assumed by many political pundits that digital channels are vital to reaching the millennial age group, the digitally connected, under-30 crowd that makes up 20% of today's electorate. Traditional direct mail is for older traditional voters, right? Wrong. According to a survey jointly conducted by the U.S. Postal Service (USPS) and the American Association of Political Consultants (AAPC), younger voters not only pay close attention to political mail, they actually favor it over other forms of political advertising. The survey found that at least 42% of millennials prefer direct-mail political ads over online ads, with 38% favoring both equally. Equally important for political marketers, millennials are more likely to read, discuss and use political mail than older generations. Over twice as many millennials thoroughly read political mail received when compared with non-millennials (40%  to 18%), and milliennials are more likely to discuss political mail with others than older counterparts, too (78% to 63%). Finally, political mail works in prompting millennials to take action. Because of political mail, 66% said they are likely to research the candidate, with 54% visiting the candidate’s website. Read the news release at http://about.usps.com/news/national-releases/2016/pr16_035.htm

Survey: Market Rewards B2B Predictive Marketers

Business-to-business marketers who use predictive analytics are rewarded with better revenue and market position, according to a recent Forrester Consulting survey. The study tapped 150 respondents from market-leading B2B firms in a range of industries, dividing them into predictive marketers, those using modeled data for forecasting and scoring, and "retrospective marketers" without predictive analytics. The survey, commissioned by predictive marketing firm EverString, found that B2B predictive marketers are 2.9 times more likely to have revenue growth above the industry average, 2.1 times more likely to occupy a commanding leadership position in their product/service market, and 1.8 times more likely to exceed company goals when compared with retrospective marketers. No wonder 89% of the B2B marketers interviewed included predictive analytics in their 2016 plans, either initiating or expanding implementation! Some 49% already used predictive marketing, 44% said they planned to expand or upgrade existing predictive implementation, and 40% planned to initiate predictive efforts within 12 months. Equally interesting, most of the marketers (78%) saw a shift in their role from demand generation to deal acceleration, requiring involvement in the sales cycle beyond pouring leads into the top of the funnel. And here is where predictive marketers led retrospective counterparts again. Predictive marketers showed effectiveness across the customer life cycle, with 49% listing two or more customer discovery tasks (building brand equity, audience targeting, identifying best account types, etc.) among their top three best practices, balanced by 51% including two or more tasks from later in the sales cycle (such as qualifying leads and managing the end-to-end customer experience). Retrospective marketers focused mainly on customer discovery in naming their top three best practices (70%). Marketing success with any stage in the sales cycle is still all about the data, however. Predictive and retrospective marketers agreed that their two biggest marketing challenges were ensuring quality data from a variety of sources (47%) and managing data from a variety of sources (47%). For a Forbes magazine summary with a link to the full report: http://www.forbes.com/sites/louiscolumbus/2016/01/24/89-of-b2b-marketers-have-predictive-analytics-on-their-roadmaps-for-2016/#147e0488d291

Crafting Direct Mail That Woos Millennials

Don't assume millennial customers are digital-only responders. Direct mail is a great way to reach this desirable demographic (aged 19 to 35). In fact, research shows more than half of millennials purchase based on direct mail offers. But you can't necessarily win them over using the same mail tactics that worked with their parents. A recent Retail Merchandiser magazine post by Joan Patrick, director of Marketing for Vision Integrated Graphics, offers good tips for crafting direct mail specifically for the millennial market. One thing is obvious: Most millennials are attached 24/7 to their mobile devices, so mail packages need to include mobile-friendly connections--such as QR codes linked to online video. On the other hand, messaging and offer should not treat millennials as a single buyer persona; yes, there are at-home dependents in the cohort, but more are married, parents or homeowners, so segmentation will improve response. Then, to appeal to a generation weaned on digital and media creative's visual cues, direct mail packages need eye-catching colors, images and graphs. Millennials also tend to prefer a personal, casual style of communication, but mailers need to guard against personalization, humor and slang that don't fit the brand--because millennials value "authenticity" even more. Yes, the direct mail pitch to millennials should still include a WIIFM hook (What's In It For Me?), but marketers must accept that this group can evaluate offers differently. The majority say they prize happiness and life quality over money; so don't just list features and prices, cite personalized benefits. The majority of millennials also say they prefer to do business with socially conscious companies--so let them know your mailer uses recycled materials, or highlight a promotion's charitable giving link. Finally, millennials tend to stress connecting and collaborating; almost half say they'd like to help companies develop future products and services. Mailers can play to that response-getter by including user surveys, user-generated content, and social links. For the full post: http://www.retail-merchandiser.com/blog/2802-7-tips-to-connect-with-millennials-through-direct-marketing

Survey Finds Big, Dirty Challenge in 2016: Customer Data

Direct marketers know that quality data is at the heart of their success. Yet three-quarters of customer service, data, marketing, sales and tech professionals told the latest Experian Data Quality survey that they will be struggling with inaccurate data in 2016--undermining efficiency, customer satisfaction and profits. From a recent Direct Marketing News magazine report of Experian findings, respondents cited their main data quality problems as incomplete/missing data (60%), outdated info (54%), duplicate data (51%), inconsistent data (37%), and typos (30%)--and more than half attributed that bad data to human error. Indeed, when it comes to the biggest obstacles to improving data quality, respondents cite the two top challenges as lack of internal knowledge/skills and lack of internal human resources. As a data services provider, we're happy to see that underperforming data quality vendors is at the very bottom of the list of impediments to better data (cited by just 7%). So what kind of projects can we expect from clients this year if they join the push to tackle data issues? Those surveyed said they'd be working on data cleansing (37%), data integration (37%), data migration (31%), and data enrichment (31%). If you are still wondering if data quality is worth the investment, consider the top five reasons given for improving data quality: increasing efficiency (56%), enhancing customer satisfaction (41%), enabling more informed decisions (39%), saving on costs (39%), and protecting brand and reputation (34%)--all goals with a positive impact on the long-term bottom line. For more report details, read the DM News story at http://www.dmnews.com/dataanalytics/managing-customer-data-in-2016/article/469162/

Survey Cites Obstacles to Data-Driven Marketing Success

Despite technology advances and the bounty of "big data," data quality remains the biggest challenge for data-driven direct marketing. Consider MarketingProfs' report on a new Ascend2 global survey of marketing, sales and business professionals. In terms of the most important goals of data-driven marketing strategy, personalizing the customer experience led the field (60%), followed by measuring data-driven ROI (51%) and targeting individual market segments (50%). Then when it came to the biggest obstacles to success, companies put front-end data issues ahead of back-end analytics by a wide margin. Improving data quality was ranked as the No. 1 challenge to data-driven success (59%), followed by integrating data across platforms (51%), raising the level of data analytical skills (38%) and measuring data-driven marketing ROI (37%). In fact, only 16% of respondents rated the quality of their marketing data as "very good," compared with the 27% who rated data quality as "somewhat poor" to "very poor." The majority (57%) called their data "somewhat good," which is just not good enough for the most cost-effective marketing results! For more from the survey, read http://www.marketingprofs.com/charts/2015/28904/data-driven-marketing-top-objectives-and-challenges