July 21 to July 22, 2015 Boston Quincy Marriott, Quincy, MA. Increase Engagement & Accelerate Sales With Big Data

Transcription

1 July 21 to July 22, 2015 Boston Quincy Marriott, Quincy, MA Increase Engagement & Accelerate Sales With Big Data

2 Learning for Competitive Advantage The only sustainable competitive advantage is to (be able to) learn faster than your competition and to be able to act on that learning. Peter Senge

3 Traditional Insight to Action Model Reporting Research Operations Sudden change Trend Historical data Experiment New marketing activity

4 Traditional Insight is Too Slow Reporting Research Operations Historical data Experiment New marketing activity

5 Value in Learning Faster Occurs after the fact have to observe the trend Fails to anticipate change Reaction to Competitor s Major Launch #1 Time Source: Tanner, Analytics & Dynamic Customer Strategy: Big Profits

6 Value at the Individual/Market Level Value BEFORE Event Data Analysis Lost to Competitor Action AFTER Event Data Analysis Action Close Sale Time Time

7 Beware the Data Trap The Illusion of Knowing because you have a lot of data No matter how many pictures of an elephant s butt you take, you still don t know there s a trunk on the other end.

8 Who are big buyers of washing machines? Laundromats Hotels Prisons Universities Military

9 Blessed are the cheese makers. Monty Python s Life of Brian

10 Why Hypotheses Aren t Enough Fail to account for counterfactual. If we don t understand why, we may just be lucky. We test & learn red sells! But then our competition does this!

11 How to Accelerate Learning? Start with a Conceptual Map Search Evalua2on Engagement

12 How to Accelerate Learning? Add Operational Definitions Sa2sfac2on Search Evalua2on Loyalty Engagement CLV Net Promoter Loyalty Level RFM

13 How to Accelerate Learning? Add Why Sa2sfac2on Search Evalua2on Loyalty Engagement CLV Net Promoter Loyalty Level RFM

14 Microsoft Case Study What drives deeper engagement? Evaluative messages VS Experiential messages Evalua2ve Engagement Experien2al 14

15 Microsoft Case Study How do you define the two? Evaluative: Specifications, Hard Benefits Experiential: Feelings, Soft Benefits HOW DO YOU OPERATIONALIZE? DOES THE VALUE DIFFER BY JOB TITLE OR BY EXPERIENCE? OR BY WHETHER THEY SMILE IN THEIR LINKED-IN PHOTO? 15

16 The Big Data Movement What is Big Data? How Big is it? Do I Need to be Afraid? The Movement The Data Something for Everyone 16

17 The Baseline for Organizers The Baseline for Organizers: Market to past attendees Am I doing this the best way possible? Market to rented lists of new prospects to help drive traffic to event Could the lists I use be better? What else can I do? 17

18 The Baseline for Exhibitors The Baseline for Exhibitors: Market to pre-registered attendees (PRA s) Am I doing this the best way possible? Set up appointments with existing leads and PRA s Can this be more streamlined? Market to rented lists of new prospects to help drive traffic to event and to your booth Could the lists I use be better? What else can I do? 18

19 What types of data are available to me? B2B data Firmographic Transactional Channel Preference Additional Business Site Intelligence 19

20 Abacus A Cooperative Transactional Database Transactional: 50+ Million Business Sites 120+ Million Business Contacts Firmographic: 15 Million Business Sites 36 Million Business Contacts Transactions Member A proprietary modeling Member B Abacus Cooperative Database responsive prospects optimized files Member C insights into your market modeled customer files The Abacus Cooperative is a blind alliance. Unique names provided by our members are not included in any of our modeling processes all names used must be contributed by more than one member. 20

21 Abacus A Cooperative Transactional Database Transactional: 50+ Million Business Sites 120+ Million Business Contacts Firmographic: The Abacus Cooperative helps you leverage customer information to predict what they ll do. 15 Million Business Sites 36 Million Business Contacts You know the purchases your customers make from you. In comparison, Abacus has knowledge of every purchase a household makes from participants average number of transactions from you within a 12-month period average number of transactions made by Abacus households within a 12-month period 21

22 Solution for Organizers &Exhibitors Identify and model names at business addresses active in L12mo that did not exist 13+mo ago. Leverage existing customer contacts at a known active site to identify more contacts at same site. Leverage recency of real transactions in target market, qualified by a variety of selects. Build look-alike models based on past attendees. Proven technique make sure to deploy an 2 days prior to event with a last chance / reminder. 22

23 Solution for Organizers & Exhibitors (continued ) Append Data Flags to PRA List (Organizers) Share information with exhibitors Exhibitors promote to these individuals pre-show to drive the right traffic to your booth. You can be more targeted and personal with your messaging to these PRA s. Identify opportunities to market to new exhibitors Exhibitors, build your leads over time and then buy your own data flags with your specific market indicators use for both pre and post-show marketing. 23

24 Types of Data Flags Transaction Types (i.e. categories) Number of Transactions Transaction Amounts Recency of Transactions Firmographic Elements All combinations, for example: You can be as BROAD as 1+ Transaction in Office Supplies in L12mo; or as TARGETED as contacts at a business making transactions for office supplies with average minimum purchases of $500+ and has 3+ other types of transactions in L30 days and Company Size greater than 5,000 employees and Company has multiple offices around the country and has a site in zip code

25 Increase Engagement & Accelerate Sales with Big Data Questions? 25

26 Thanks! Follow blog tannerismsontuesdays.blogspot David