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DETOX YOUR DATA

HOW DO YOU KNOW YOU NEED TO DETOX YOUR DATA?

Everyone should detox their data at least once a year. Today, with more marketing channels than ever, “it’s critical to detox.”

Symptom Checker: You probably need to detox your data if you have any of the following symptoms such as:

  • Uncontrollable spam and unsubscribe rates
  • Going postal over unknown mailing address returns
  • Sluggish open rates
  • Feeling unpopular on Facebook
  • Depressed click through rates
  • When asked, “how are sales?” and you respond, “In the toilet.”

HOW DO YOU START A DATA DETOX?

First you must investigate the current situation. Gather up your household files, pour yourself some tea and find a quiet place to review past campaign performance, lists accuracy, open rates. Be positive, remember this is where you are now – not your future state. Keep a journal and share with your team members your goals and vision for a data driven marketing department. Now the hard part, assess where you are today.

  • Your mailing list should be 85-90% correct before mailing. This means deduped and standardized. Ask your printer for the average metrics on your previous mailing lists. If your lists are not hitting this metric, seek the advice of your printer because they have tools to remedy this situation. (NCOA) Your goal is to have the most accurate list of households in your file’s including address, city, state, zip, zip +4, and Delivery Point. (You must have the DP)
  • At least 30% of your email list should have home addresses. If not, and I am not a data scientist, but I would recommend a reverse append to see if your email list has a home address on file. Email lists should be cleaned not only to protect your reputation but before sending out for a reverse append.

At this point you should feel pleased that you have accomplished the foundation necessary to support your data divinity.

As my Italian mother used to say, “A clean home is a happy home.” Now you should have three, clean, crisp lists on hand.

  • List of mailing addresses with email address. (Cleaned)
  • List of mailing addresses with no email address (Cleaned)
  • List of just email addresses (Cleaned)

These lists will provide a baseline for your upcoming campaigns and reconciliation efforts.

DON’T BE IN DE NILE – RECONCILE

Reconciling your conversions back to your list is the most time-consuming, yet necessary step that most marketers loathe to perform, and unfortunately, only a few do.

Back to the cleaners for a detox. Yup, back you go. In order to compare lists and accurately measure results we need all the conversions in the same format as the original lists.  Remember address, city, state, zip, zip four and delivery point barcode.  In theory, if an address appears on both lists, you had a conversion from your initial list.

Easy-Peasy Reconciliation Steps:

  • Upload your first list that had mailing address and email into excel.
  • Exactly cut and paste into the existing columns all your new and happy conversions.
  • Next highlight address, city, state, zip, zip+4 and delivery point
  • Find the excel tab “Data” and click.
  • Click “Remove Duplicates”
  • Next, Excel will count up the duplicates and those are your conversions!

AFTER DETOXING – WHAT TO EXPECT

Detoxing your data may be difficult, but it is a necessary first step on the road to a data driven marketing department. Now that you have recovered your data, next is creating healthy guidelines, lifestyle, practices, and standards to keep your data in its best shape. These could include a calendar on when to refresh your data or basic input guidelines. You are on your way to becoming a data diva.

lee

 

How to Monetize Your Demographic Data!

P360’s Visual Report of your Data:

Why do we have a visual dashboard?

P360’s visualization dashboard was created with the marketer in mind. Today, a marketer’s world moves very quickly, I often say marketing is now “moment by moment” vs. the yesteryear of editorial calendars and six months for product launches.  Most of our clients, have products that change week to week, again another pain for our software to solve. P360 delivers instant insight for the marketer on the move while keeping a close eye on ROI.

P360s easy uploader and visual reports are based upon proven yet leading edge technology to deliver actionable insight in seconds. Previously, this process usually involved receiving the file from the ticketing system or IT, and then a person in the marketing department would have to create all the necessary graphs in excel. I have literally worked in marketing departments where this insight took days to weeks to generate.  P360 takes the time and mystery out of gaining deeper understandings of your ticket buyers.

Now here are a few tips on how to leverage the Visual Reports:

Understanding the Match Rates Mystery:

The data used for the visual representations are based on match rates. Meaning your file matched a certain percentage of what is in our consumer file for Age, Gender, Marital Status, etc. It is important to understand how many matches occurred for each chart. The actual numbers should appear as you hover your mouse over the pie chart.  (See Example Above) In this scenario, you may think that all of your ticket buyers have an interest in Books and Music, but once you compare the number of files matched (387) to the number of files that have an interest in Books and music (277), you determine the interest to be 71%.

How can I leverage and monetize these insights?

 

The visualization can be used to improve your retention marketing for your existing patrons by creating buyer personas. In using the graphs above, we determine that many of our buyers are 50-74 in age and have various interests in Books, Music and outdoor activities. Perhaps, this would be an ideal group to target your up-in-coming theatre in the park event.

Around the holiday’s or in summer, many marketers review the presence of children and save on their mailing by only targeting families with young children.

Some of our clients leverage the insight in the visual graphs to determine digital ad spend using the hobbies and interest charts such as cooking, exercise and travel. While others leverage the insight to build enhance their segmentation.

Business Development tends to focus more on the donor age and wealth/income brackets during their appeal season.

What about Facebook?

Many of our users are having great success leveraging the insight to create custom audiences in Facebook. P360 takes the guess work out of your audience and allows you to easily improve your Facebook targeting ads.

KNOW ME OR NO ME         

Today, as marketers we must know our buyers in order to remain relevant. Marketing a product with little understanding of the buyer usually leads to dismal results.  P360 enables you to gain this knowledge at an affordable price.

 

 

 

Precision Marketing: Three Easy Steps to Reducing Opt Out Rates

Opt-In Emails can be worth $2-$10 each. Do you have an Opt Out Strategy?

Marketers enjoy the affordability and access of email for marketing. Consumers on the other hand, guard their inbox like world leader protects his domain; armed with weapons of destruction such as automatic Spam Blockers, Ad Blockers, one-touch Spam reporting, and junk mail notifications. All designed to keep unwanted, irrelevant noise out of their otherwise quiet, invitation only, digital world.

Even with this arsenal of tools, consumers receive 100’s of marketing emails a day. Today, many experts speculate the value of a single, opted-in email, is anywhere from $2 to $10 dollars. Certainly considered a feather in the cap for hard working marketer that wisely ponders and spends on their cost-per-click Ad-words, likeable Facebook content, witty tweets, and irresistible Instagram pictures to woo potential suitors to opt-in to their company story. Losing this right to market in this channel certainly represents a cost, and at ten dollars a pop for unsubscribes and spam reporting, it is a expense that needs to be considered.

Clearly at this cost, unsubscribe rates cannot be ignored.

Here are a few tips to reduce your unsubscribe rates:

Carefully review your list – at the very least, segment the:

  • Non-openers: Let’s face it, after several weeks of courting, they are just not into you. Give that list a three month rest.
  • Openers but not clickers: Good sign, recognize more work is to be done. Okay, you have yet to inspire them to act but they have opened, keep this list and change up the offer or design.
  • Clickers but not buyers: Right product wrong Landing page? A great email, great call to action, then the clicker, trusted you enough to click and then landed on a website to confusing, different, outdated, figure out how to purchase.
  • Buyers: Do you have an upsell, cross-sell. A new benefit to share on the purchased product?

 The Reverse Append:

How much do you know about your opt-ins? Are they married, single, millennial, parents, wealthy, technology nut, and or educated? What data points would help create targeted emails? A reverse append of your email list may be a valuable investment.

What is a reverse append?

A reverse append will attached the correct US postal mailing address to your email list. The more address data on file, the better the email match rate. Expect about 25% match rate per list.

What does this cost?

Pricing on reverse appends can be as low as $55/1000 matches and up. Usually additional attributes such as age, gender, marital status, and others can be $4/1000 per attribute.

Let me know if I can assist you in any way. lee