Download - Data in Action: Roundtable 2014 Greg Bright
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Data In Action
Leveraging the data in product and acquisition decisions
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Understanding the customer
Alice: “This is impossible.”
Hatter: “Only if you believe it is.”
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Impossible thing #1
There is a potion that can make you smaller
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Clone yourself to death
Sure, cloning sells orders
• But:
• Ever decreasing respondent pool
• Cumulative cost per order
• Use the data wisely:
• Touching a former ten months in
a row…
• If your last stop indicates a move,
are you treating the address like
a former or never?
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Impossible thing #2
And a cake that can make you grow
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Data driven segments: Focused, defined mathematically
Statistical techniques to find patterns • Careful use of Indexing of interests
– Understand the market: What defines the community
• CHAID Modeling
– Finding similarities
– Finding opportunities
• 2-Step Cluster Modeling
– Prioritization
– Resources
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Impossible thing #3
Animals that can talk
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Know your customers
Use collected data to understand wants, needs, and consumption
As good as you think you are today, it
isn’t enough for tomorrow
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Impossible thing #4
Cats can disappear
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Data has to be actionable
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Data has to be meaningful
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Impossible thing #5
There is a place called Wonderland
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Actionable data – not numbers but words!
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Actionable data: Product enhancements
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Actionable Data: Adjust the user experience
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Actionable Data: Refined targets
• Ability to attract
• Ability to retain
• Value to company
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Impossible thing #6
I can slay the Jabberwocky
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Data to drive the future
• Not everyone wants what you are selling.
• Some will never even try what you are selling. Ever.
• Some buy you only because you are the least worst choice.
• Some sneak a peak, but won’t buy.
• Some buy you but choose to remain invisible
• (Cash payers: Single copy, web anonymous)
• Some buy the “other guy” and only them
• (Coke vs. Pepsi drinkers)
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Listen to the data
For some people, nothing you can do will…..
…convince them to read your product.
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And in the end…
• Listen to the data
• Gut and intuition aren’t good enough
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Believe in your data
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Now, go slay the Jabberwocky