Welcome to this edition of The CTA, a weekly newsletter for digital marketing professionals who are data-driven and have little time for marketing fluff. We provide a short dose of usable marketing tips and tricks to spur ideas.
Is the Next Great Marketing Campaign Hiding in Your Data?
In marketing, we put a lot of pressure on ourselves to create the next, great innovative marketing campaign. Really amazing campaigns aren’t always found through hours and hours of brainstorming sessions or scribbled on a whiteboard, they can be hiding in your data right now. In the age of data explosion, we should let our data help us identify campaign opportunities without relying purely on creativity all the time.
Here are some things to look for in your data that might be the seed for your next great marketing idea:
Signals in the Noise. Look for customer segments that begin to behave differently than all other segments. Even a small segment that begins to navigate your website in a different way or buy products in novel combinations can indicate the start of a shift in buying behavior. These early adopter segments are often easy to spot if you simply segment your customers across 4-5 dimensions and look for outliers.
Window shoppers. Often, large segments of customers will visit your site and move on without buying anything or interacting with your content. These segments were never going to convert as they likely were confused in the first place. Excluding these window shoppers from your data takeaways can make the real value stand out more clearly since they can crowd out real insights.
Look-like customers. Many brands want to find a group of consumers who look much like their current loyal customer base. Currently, you’re data demographics data in likely another tool, like Facebook. You could find them within your own data, if you use segmentation to locate them. Look at which of your buyer segments has the highest significant relationship to your target segment. This will help you pinpoint which segments to focus “look-alike” marketing programs.
An Example of a Marketing Campaign Lurking in Data
Recently, a large fast food chain deployed an automated business analysis tool across all of its point-of-sale terminal data. This system analyzes all their data, everyday, and notifies them of new changes in consumer behavior across their thousands of restaurants and hundreds of food items.
One such insight showed that a certain store had closed for a week, and when it reopened the sales of fountain drink sales had doubled! Fountain drink sales are the highest margin product for fast food restaurants so the marketing team called the manager of that restaurant to learn more about what happened. It turns out the store was closed for renovations and during those renovations the staff had moved the drinks from one side of the register to the other, leading to more customers adding drinks to their meals.
This was a great insight and the team immediately looked at moving the drinks station at all of their restaurants into the new position. Such a powerful idea, with huge revenue potential, was hiding in the data and never would have been proposed during a brainstorming session.
Now the restaurant is debating on redesigning other stores to see if they can repeat success. Read more on this story and imagine what insights you can find lurking in your data.