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Big Data and Analytics: How can they help you be more relevant to your customers and drive significant profits?. Dr. Jeni Bunner Director of Insight; Outsell, LLC [email protected] Agenda. Consumer Expectations The Importance of B eing Relevant Irrelevance How to be Relevant

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Big Data and Analytics: How can they help you be more relevant to your customers and drive significant profits?

Dr. Jeni Bunner

Director of Insight; Outsell, LLC

[email protected]


Agenda
Agenda relevant to your customers and drive significant profits?

  • Consumer Expectations

  • The Importance of Being Relevant

  • Irrelevance

  • How to be Relevant

    • Big Data

    • Predictive Analytics

  • What’s the solution?

  • Relevance Done Well

  • Questions and Answers


Consumer expectations
Consumer Expectations relevant to your customers and drive significant profits?


  • Modern Consumers Expect: relevant to your customers and drive significant profits?

  • An engaging brand experience

  • On their own terms

  • Via any and all of their devices


Industry Challenge relevant to your customers and drive significant profits?

OEM

Dealers

Sales Department

Service Department

Parts

Department

F&I

Department

PRINT OPERATIONS

AGENCY OF RECORD

CORPORATE MARKETING

MEDIA BUYER

MARKETING SERVICE PROVIDERS

PRINT OPERATIONS

LOCAL MARKETING AGENCY


Addressable media and channels
Addressable Media and Channels relevant to your customers and drive significant profits?

Media or channels that allow communications to consumers at an individual level


More channels are becoming addressable
More Channels are Becoming Addressable relevant to your customers and drive significant profits?

Direct

Online

Newspapers

Inbound Phone

Search

Magazines

DRTV

Banner Ads

Telemarketing

Web Sites

Radio

Face-To-Face

Mobile

Outdoor

Direct Mail

TV

Blogs

Social Networks

Email

Kiosks

Mass


Age of the customer
Age of the Customer relevant to your customers and drive significant profits?

jksdfhkds

Source: Forrester Research, Inc.


Be relevant
Be Relevant!!! relevant to your customers and drive significant profits?

“In the future, only companies that understand and anticipate their customer’s needs and can consistently deliver unique, tailored customer experiences will be able to attract and retain loyal customer revenue streams.”

Source: Forrester Research, Inc.

Source: Forrester Research, Inc.


The importance of being relevant
The Importance of Being Relevant relevant to your customers and drive significant profits?


Consumer engagement is elusive
Consumer Engagement is Elusive relevant to your customers and drive significant profits?


Relevance matters
Relevance Matters relevant to your customers and drive significant profits?

2X

$$$

60%

Not Relevant

50%

Disengage

Source: DM News


Irrelevance
Irrelevance… relevant to your customers and drive significant profits?


The 40 yr old woman with the 18 yr old boy gene
The 40 yr. old woman with the relevant to your customers and drive significant profits?18 yr. old boy gene

Dear Ford,

Seriously? I own a Mustang. You know I do. I follow Mustang on Twitter and liked it on Facebook. I've clicked through emails you've sent me to go search your site for Mustang paraphernalia and badges, check out the current model, and "customize" my dream Mustang (three times!). I've clicked through Mustang ads (and Camaro ads, not that you'd know that). I've never once expressed any interest in an SUV. Why on earth would you email me about the Escape? It may be all new, with cool features and whatever, but clearly I'm interested in sports cars, not sports utility vehicles. You may want to reconsider your segmentation strategy. Thanks for thinking of me, though.

?

Source: DM News


How to be relevant
How to be Relevant relevant to your customers and drive significant profits?


How can brands be more relevant to consumers
How can Brands be more relevant to Consumers? relevant to your customers and drive significant profits?

  • Put DATAin the drivers seat!


Big data
Big Data relevant to your customers and drive significant profits?

  • VOLUME

  • VELOCITY

  • VARIETY

  • VALUE

  • The most important dimension of “Big Data” is how you derive profits from it


Auto Dealership “Big relevant to your customers and drive significant profits?Data”


The power of your Big Data relevant to your customers and drive significant profits?

  • Collectively dealers maintain more customer data than parent OEMs

  • Dealer data is rich but underutilized


What Does Your Big Data Tell you? relevant to your customers and drive significant profits?

Shop

Discover

Bond

Advocate

Own

Buy


Multi-channel targeted communications relevant to your customers and drive significant profits?


Predictive Analytics relevant to your customers and drive significant profits?

The analysis of current and historical facts to make predictions about future events


Predictive Analytics Examples relevant to your customers and drive significant profits?

  • Which consumers will purchase in the next 30 days?

  • Who are my most valuable consumers?

  • Where is each consumer in their lifecycle (shop, buy, own)- segmentation

  • What vehicle is a consumer most likely to purchase?


What s the solution
What’s the Solution relevant to your customers and drive significant profits?


4 steps to relevance
4 Steps to Relevance relevant to your customers and drive significant profits?


Step 1 get your data in order
Step 1: Get Your Data in Order relevant to your customers and drive significant profits?

Weblog

Video

Blogs

Social

CRM

Mobile

Chat

DMS

Click

  • Multi-channel

  • Online and offline

  • Behavioral


Step 2 segment and test relevant messages
Step relevant to your customers and drive significant profits?2: Segment and Test Relevant Messages

  • Start small

  • Segment consumers

  • Determine what's working

  • Make incremental improvements


Step 3 personalized marketing
Step 3 relevant to your customers and drive significant profits?: Personalized Marketing

Real-time responses

Driven by consumers’ actions (or lack of)

On their terms

Personalized to each and every consumer


Step 4 get smarter w ith predictive analytics
Step relevant to your customers and drive significant profits?4: Get Smarter With Predictive Analytics

  • Gold standard for driving relevance

  • Requires a specialized skillset

  • Could double your incremental sales lift (uplift from Marketing)


Relevance done well
Relevance done Well relevant to your customers and drive significant profits?


The pregnancy predictor model
The “pregnancy–predictor” Model relevant to your customers and drive significant profits?

“My daughter got this in the mail!” he said. “She’s still in high school, and you’re sending her coupons for baby clothes and cribs? Are you trying to encourage her to get pregnant?”

The manager didn’t have any idea what the man was talking about. He looked at the mailer. Sure enough, it was addressed to the man’s daughter and contained advertisements for maternity clothing, nursery furniture and pictures of smiling infants. The manager apologized and then called a few days later to apologize again.

On the phone, though, the father was somewhat abashed. “I had a talk with my daughter,” he said. “It turns out there’s been some activities in my house I haven’t been completely aware of. She’s due in August. I owe you an apology.”


Questions and answers
QuestionS and AnswerS relevant to your customers and drive significant profits?


Thank you
THANK YOU! relevant to your customers and drive significant profits?

Dr. Jeni Bunner

Director of Insight; Outsell, LLC

[email protected]


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